Sunday, May 8th, 2016

Don’t Wait For A Bounce, Short Now!


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Comments

18 Responses to “Don’t Wait For A Bounce, Short Now!”
  1. MisterE103 says:

    We’ve got a huge gap down to 1044 this morning, would you recommend shorting at this level or will they run it off of this strong support level (as occurs about every time the markets look like they’ll crash) – Thanks!

  2. MisterE103 says:

    We’ve got a huge gap down to 1044 this morning, would you recommend shorting at this level or will they run it off of this strong support level (as occurs about every time the markets look like they’ll crash) – Thanks!

  3. PSAadmin says:

    @Lockemeister Asian markets are down big today, that will weigh on the Dow

  4. Lockemeister says:

    Dow futures don’t look so hot at 1:07 AM

  5. PSAadmin says:

    @Lockemeister Thank you for that, I have worked very hard to get a good grasp of the markets, and I too have made my share of errors along the way.

  6. Lockemeister says:

    You surely know your stuff

  7. PSAadmin says:

    @jabberwocky1969 Thanks for the added insight, love it.

  8. PSAadmin says:

    @jabberwocky1969 Good point.

  9. PSAadmin says:

    @rockerme4u Thank you!

  10. rockerme4u says:

    Great Work, Elliott Wave would be very jealous of how accurate you are. Thanks

  11. jabberwocky1969 says:

    Christian to buttress your point as to why we will not see a 3-4 month keel over …. people are leaving the market all together. Very few are shorting so there will be nobody to buy back their position to stop the bleeding. Governmental efforts to prohibit naked short selling will make it worse!

  12. jabberwocky1969 says:

    Christian once again you nailed it. Not even the bond market was pricing this in as today’s action drifted sideways and bonds actually slid a bit, showing mild bullishness, or indifference. That last 15 minute candle today on the SP 500 was a stake in the heart of this market!!!

  13. PSAadmin says:

    @ericleongky No, I’ll just watch the charts for the reversal indicators, then based on the overall chart pattern at that time we could come up with a strategy to play the rebound, but that’s a long way from today.

  14. ericleongky says:

    hi, can you predict when is it going to rebound & how much?Tq

  15. PSAadmin says:

    @turkishtrader post a chart in our forum and I’ll give it a look, for now i see too much money to be made on shorting bad companies in this market to consider anything else in my portfolio, just yet…

  16. PSAadmin says:

    @technicalbertonomy Thank you for the positive feebback, We ALL appreciate your input!

  17. turkishtrader says:

    how about natural gas :) ninja greetings

  18. technicalbertonomy says:

    Once again, another great analysis. Today’s action is not good at all for the bulls, the VIX is holding up. Your short term and long term perspectives make a lot of sense to me. You are right about the market psychology and how the next leg down could be even more violent as people recognize that buy and hold is dead, Robert Prechter and Elliot theory could describe this as the third wave, or the wave of recognition.

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