Poolman's Account Talk

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poolman said:
http://blog.rebeltraders.net/2009/02/14/market-wrap-up-we-have-a-cliffhanger/
Click to expand...

Wow...that was one difficult video to get through. I recommend watching it at 3X speed. :toung:

Anyway, it seems EVERYONE is keying in on this symmetric triangle, possible big break. Could it be a self fulfilling prophecy??? I think so. I think the shorts are about to smell blood, and if I had a side account, I'd go all in SDS. Question is...what level will the big cover be at? I think a good rule of thumb is 20% down from latest peak of 870 ish. That puts us right about 700.

I think if you want to catch a big bear rally, perhaps go in just shy of 700...before the shorts come out. That is my plan. I think the previous low is toast. Wait for Nasdaq and small caps to roll over, the market will accelerate down at that point...dow 6000's.
 
CP.
You have been calling for a drop to the 700s for some time. The SPX P&F chart by James, and Uptrend's Fibonacci and M pattern analysis also seem to confirm all of this.

With the instability in the markets and the economic problems, it seems to me that you are correct. If you are right, we are going to make lots of retirement moneys in the next bear market rally or upleg.

Thanks to all!:)

Corepuncher said:
Wow...that was one difficult video to get through. I recommend watching it at 3X speed. :toung:

Anyway, it seems EVERYONE is keying in on this symmetric triangle, possible big break. Could it be a self fulfilling prophecy??? I think so. I think the shorts are about to smell blood, and if I had a side account, I'd go all in SDS. Question is...what level will the big cover be at? I think a good rule of thumb is 20% down from latest peak of 870 ish. That puts us right about 700.

I think if you want to catch a big bear rally, perhaps go in just shy of 700...before the shorts come out. That is my plan. I think the previous low is toast. Wait for Nasdaq and small caps to roll over, the market will accelerate down at that point...dow 6000's.
Click to expand...
 
Last edited:
airlift said:
CP.
You have been calling for a drop to the 700s for some time. The SPX P&F chart by James, and Uptrend's Fibonacci and M pattern analysis also seem to confirm all of this.

With the instability in the markets and the economic problems, it seems to me that you are correct. If you are right, we are going to make lots of retirement moneys in the next bear market rally or upleg.

Thanks to all!:)
Click to expand...

Thanks...I sure hope I am right. It may take more time...but I think upside to any rallies will be limited.

I know that in the past, I would be looking at the market and questioning WHY it was not behaving like I thought it would. Several times I abandoned my plan only to have it thrown back in my face at a later time. Patience is a virtue when it comes to the stock market...that's an understatement and I struggle with it myself.

I have a friend at work who got out of the market back in summer 2006 at like 1300. He is now watching it go down and is thinking of putting some in soon. 2 years of waiting. Great job there.
 
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