Seriously Side Splitting Signs


bruno said…
Two hundred fifty pts down,up,down and down.

A bulltrap or market top?

Or is it whipsawing to chase out the Johnny come latelies or weak hands?

This week for the weak or faint hearted,the market is not the place to be in.Whether it is the stock,commodity or fx markets.Traders with close stops get kicked around like footballs.And it does not matter whether one is long or short.

Because of dovish Fed statements the greenback tanked Wednesday,only to recover on Thursday and Friday because of the tanking stock markets.Next week is the best time to buy Euros and com currencies,for the overdue greenback correction.

The S&P closed just 2 pts above the 200 days MA at 1907.

Russell 2k is way deep into correction territory.Dax also fell more than 10% already and is into the correction territory.And who else I got to check first,as I do not pay that much attention to so many markets.

For my 2 cts worth,I think that the characteristics these last few days in the stock markets are of a shakeout of the weak longs,for a consolidation to a final push into all time highs for a blow off top.

You boys and gals who are long the markets better believe it.Take your hard earn money and hide it under your pillows or mattresses.Or better still put them in a tin can and bury it deep in the backyard.

A few years down the road you guys will know the values that cash is really king.Because you will be able to buy blue chips by bunches for a couple of ringgits.

Happy trading and have a nice weekend,boys and gals.

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