thanks -- I don't want to get ahead of things - but to be defensive... there could be one more ED wave up ... my line in the sand is SPY 137.45 - if we trade above that - I will have to cover / go long temporarily. You'll see that is the proposed 2 wave up -- of the current down wave. Got to have a plan just in case!!
feeling better today! why am i always so attracted to top picking?!! LOL BEAR DOWN!!
ReplyDeleteI am only looking for an abc zigzag correction over the next couple of months.
ReplyDeleteThe Bond Market is not signalling a P3 meltdown.
what's your thinking on bonds?...i would think a sub 2% yield on the 10 yr. at the top of a HUGE wave 2 up ... would be very bearish?!?
ReplyDeleteEven if the yields have bottomed, it does not mean we will be Greece in a year.
DeleteSpain, Portugal, Italy will blow up first. Even UK and Germany will very likely implode before the US.
While Europe burns I expect a capital flight into the US, which will help US assets, before the tide turns on US itself.
While US indices have breached their May 2011 highs, DAX, FTSE and CAC all remain lower than their May highs.
Deletethanks -- I don't want to get ahead of things - but to be defensive... there could be one more ED wave up ... my line in the sand is SPY 137.45 - if we trade above that - I will have to cover / go long temporarily. You'll see that is the proposed 2 wave up -- of the current down wave. Got to have a plan just in case!!
ReplyDeleteCertainly, the top is not confirmed by any means.
Delete