tag:blogger.com,1999:blog-4878316162397365683.post4822165631124006624..comments2023-11-06T06:01:49.605-05:00Comments on Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals: Several SHORT TERM Bullish Indicators Occured Today for the Stock MarketUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4878316162397365683.post-90659378243553990412009-11-04T11:11:51.612-05:002009-11-04T11:11:51.612-05:00Hi Mitch,
When I say "crash" I mean it ...Hi Mitch,<br /><br />When I say "crash" I mean it in the larger big picture terms, i.e. the S&P dropping 50% in 12 months. Currently we're in a topping process which takes a long time. It involves a series of ups and downs (wave 1s and 2s), always sucking the bulls in on every drop thinking it's a great new buy point. But every new rally attempt falls short and less and less bulls participate the next time until eventually they capitulate and a wave iii, of (iii), of 3 of (3) occurs like in October of 2008. But we have to be patient and let it play out. A straight line down right now with all the optimism in the market would have bulls swarming in and creating a bottom that would last months probably. But a "slow bleed" would fool the bulls and be disastrous for them. Slow bleed now would lull them to sleep and have them buying all the way down, then BAM! a straight line down occurs and its too late for them to sell so they keep buying and the market keeps falling. This is what I want right now to sustain a decline of the magnitude I'm projecting. We just have to be patient. <br /><br />As long as 1101 in the S&P holds, we are in a very large downtrend and big moves and surprises will be to the downside.<br /><br />ToddToddhttps://www.blogger.com/profile/13808483934573587351noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-60516079913517004642009-11-04T11:03:25.738-05:002009-11-04T11:03:25.738-05:00Yeah, the strong wave 2s really test the bears'...Yeah, the strong wave 2s really test the bears' grit. This rally should do the same since it's a larger wave 2 it appears.<br /><br />ToddToddhttps://www.blogger.com/profile/13808483934573587351noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-39175228713943178532009-11-04T09:26:01.450-05:002009-11-04T09:26:01.450-05:00Thanks again for your great posts. I have to say I...Thanks again for your great posts. I have to say I am a little confused about the market this week. Honestly I was expecting »crash« to happen sometime in the next two weeks but now I am not so sure. Is it possible we'll have this sideways movement till the end of the year... hopefully not but it's something to think about. My theory was that the market will go to 850-900 level, bounce back before new year and then crash in Q1 of 2010… but I guess that would be almost to perfect and similar to last year.<br /><br />Anyway I wonder what might trigger the sell-off… perhaps there is a new around the cornet that will do that, who knows…<br /><br />Have a great day!<br />MitchMKhttps://www.blogger.com/profile/16505770602340425518noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-25335321076912380332009-11-04T06:40:41.351-05:002009-11-04T06:40:41.351-05:00good points, seem to fit with a possible wave 2 up...good points, seem to fit with a possible wave 2 up -<br /><br />it's interesting how some wave 2, especially now that we are in a possible p3 wave, are violent and strong counter moves, yet others are squishy overlapping messes -<br /><br />interesting fed watch day today....adanhttps://www.blogger.com/profile/00710750989853277203noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-23201244737208562442009-11-03T23:17:32.037-05:002009-11-03T23:17:32.037-05:00Hello Todd and readers:
It's an article I rea...Hello Todd and readers:<br /><br />It's an article I read today in www.bloggingstocks.com what catch my atention. If possible I share here:<br /><br />"Wow! Why is gold trading at record levels?<br /><br />Posted Nov 3rd 2009 6:00PM by Connie MadonConnie Madon <br /><br />Here's a shocker! India's central bank just bought 200 tons of gold!<br /><br />Do you know why India bought the gold? India's finance minister said the reason for the purchase was that the economies of Europe and the US had "collapsed."<br /><br />India swapped $6.7 billion dollars for gold equivalent to 8% of world annual mine production. India's move was a clear signal that Asia is moving away from the the US dollar.<br /><br /><br />India's purchase pushed gold prices to $1,086.10 per ounce. December gold futures are trading at $1084.60 per ounce, up $30.60.<br /><br />India's finance minister said: "We have money to buy gold. We have enough foreign exchange reserves."<br /><br />New Delhi's purchase came a few months after China revealed that it had almost doubled its gold purchases. It is believed that China, Saudi Arabia and Middle Eastern sovereign wealth funds have enough money to buy the remainder of the IMF's gold reserves.<br /><br />What does all of this mean? Simply put, Asia and the Middle East are getting out of dollars and putting their money in gold. They are rapidly losing faith in the economies of Europe and the US. How all of this plays out remains to be seen.<br /><br />Would you buy gold now?"<br /><br />End of article... I hope the answer is not!!!!!! But gold is moving higher. We'll see.<br />This is one commoditty what until now not give any signal of trade down.<br /><br />Regards.Gustavonoreply@blogger.com