Kitty has claws

Kitty has claws
Know your stops
​

22 August, in my last blog I explained why I felt 1056 (now broken) was both a key short & long term level of significant importance between the bulls and the bears.

22 August, in our Head & Shoulders thread I posted a short-intermediate term chart with an estimated 1010 target, the same one (of many) Toms been keeping us posted on.

15 & 22 August, I posted bearish charts in the Weekly Talk thread.

15 August, in our Golden Cross thread I gave a Bear Market warning, showing 3/4 of my top four had a bearish Death Cross.

12 August, I posted an update to James P&F Chart School thread showing a bearish price objective of 1230.

31 July, I Posted a bear market warning in our Monthly Talk concerning Bulkowski's 12SMA study. I hold him in high regard, he is the "rain man" of technical analyst.

2 July, I posted a long-term bear market warning in my 500SMA thread. At that moment in time we had already broken below this level twice, and right now this key moving average is sitting at 1010 which is a key level.

2 January, In my blog 2010 Market Expectations I wrote "I have to admit I'm not overly optimistic about 2010's market. Based on previous Bear markets my expectations are the S&P 500 will trade between Fibonacci's 1020-1230." Thus far this year I've been off by 10 points on both sides and I still stand by that assessment. But if we break below 1000, I will be quick to change my outlook and leave stocks altogether if needed.



In summary, if you don't think this kitty has claws, well I just showed you 8 of them. If you count that Hindenburg Omen that's 9, does this market have 9 lives?

Take care and stop safe...Jason

 

[Birchtree]

So, my friend why are you still long? Don't you know better than that? Perhaps you have become a contrarian - going against all the waves of pessimism and negative sentiment. Let's not forget what happened in March '09.

 

[JTH]

So, my friend why are you still long? Don't you know better than that? Perhaps you have become a contrarian - going against all the waves of pessimism and negative sentiment. Let's not forget what happened in March '09.

If by long you mean wealth destruction then yes I'm long. I do know better, I'm just too lazy to login and perform an IFT. I know where this market is headed, I just don't care at the moment. Eventually I'll get off my azz and do something, I just need a little inspiration.