Saturday, October 21st, 2017

Follow Through day?

When the sentiment turns really negative and nothing looks right, you throw the towel in and walk out, a cruel thing happens. The stock market takes off, leaving you lying in dust licking your wounds and swearing you will never touch this gambling boogie! Well if you are a professional trader, you have seen this repeat over and over again. Stockmarket is an irrational animal. Those big banks and institutional traders own it, lock stock and barrel. They have powerful weapons in the arsenals and millions of dollars in trading capital, they can drive you into the ground and when you are down and out, they will smile with a evil streak and take your money. You will be done forever, wounded, angry and end up defeated.

IF you had been through 2008 like me, the most evil time in stock market in 50 years , you will smile at these moments and a complete inner strength will overwhelm you, and you will come out smiling, and the Devil will fade into the darkness where it came from. You can stare Count Dracula back to the hatch-box. I have said this over and over again on this site ” They NEVER kill their Golden Goose”. The same people who take you money have a controlled mechanism, that prevents a complete disaster, and the stock market always bounces back.

This recent ugly sell off based on nasty Temper Tantrums and thumbing their noses at President Obama and the Senate for passing a sweeping financial reform is just another piece of this sick behavior. In fact they screwed all those pension funds, 401ks and people nest eggs in this Temper Tantrum in May 2010. Providing hurt and humiliation to others was their sick way of equalizing themselves with the heavy handed politics they found facing after greedily taking American down the path of economic collapse back in 2008 and up to now. I hope this Financial Reform is passed in next few weeks and puts a nail in the coffin of this “Greedy Dracula” known as Wall Street, that has robbed 8 million people in this country from a livelihood.

Here is a video of Market Analysis that contains this simple sentiment.

Today market action was a typical Follow through day as per IBD’s report card. If you are student of Bill O Neil you would know that a rally attempt which started on May 25 has now been confirmed with a follow through day. This is not a fool proof science, but it is a repeated behavior of the stock market seen in last 100 years. Most of these follow through days harbor a new bull market and about 25 % fail just like anything else. Pick what you can and post your comments below. I love to hear from ya.

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