Planet Earth's ultimate Short side game began Nov 2021

Repeating post #892 as a refresher for historians


Reasons for cashing out now

My Internship had started out badly with some losses, some gains, some confusion, some mix-up, some consternation. But this latest segment has allowed me to have a totally clean slate

Nett GREEN! .... for my First month in Internship. I'm a happy camper. I'm satisfied.

TREND RIDERS have said unanimously that nobody has succeeded in coming out of a bend in the trend without 12-30% nett losses

I am now an exception. I have zero nett loss in this first attempt at the bend in the trend.

The bend in the trend is not over as is clearly self-evidetn by virtue of the 200-day ema on QQQ holding up pretty well and doji-ing like a son of a gun.

I want to do a review of a couple of things that could trip me up in the wave count so this time flat even for a day or 2 or 3 will be helpful.


Nett GREEN! Nett GREEN! Nett GREEN!
 
margin_gamble said:
(1)
Qs doji-ing on 200-day ema support is bothering me that it might have one more higher high.

(2)
Mistake in reading the wave count on 5-min when Q dropped to 326.36. I looked at the count and thought OK we need a 4th wave up and then a final 5th down & I would exit there. But instead. Q generated a rally that makes that low therefore a 3-wave move down, i.e. a correction in a larger uptrend. Therefore one more higher high is likely.

(3)
So I got out.
More...




(1) bothered me all day yesterday. Let's see how the 200-day ema holds up today.
 
Thread BEAR market Call is in full force and vigor, no hesitations, still at 100% without any reservations.

Dow Jones targets

18,000 .............. 100% odds

6,469 .............. 100% odds

4,400 .............. 90% odds

-------------------------------------------------


worst case scenario DJI goes to 2500 the region of 1987 crash. Odds of this are 40%
 
DEATH CROSS in SPY & QQQ still in effect on August 18, 2022.


Both have such feeble volume for the entire bear rally that it could be said they are running on fumes.

But the 200-day support for QQQ is holding my punch back. I cannot and will not release big power with the 200-day as an adversary. The 200-day ema has my utmost respect.
 
Hahahahahahaha, Goddamn the Ignore function is working and boy does it work in a sexy sort of way .............

Just came back into the thread to see Ignored member's post all blank but his bum is pointed straight at me! Lord have mercy, its too early in the morning to partake. :D:D:D

Bloody Hell, this ET is so much fun. :)


The monk bought lunch
Yeah, he bought a little


 
Just gonna throw this out there for any bystanders watching this soap opera. The long term wave count from the early 1900s.

Bob Prechter in his book on EW theory published in the 80s, had a good picture of the situation up to that point but he counted out the fifth wave as ending in the 90s. Later he updated it to an extended fifth that ended in 2008. And in 2011 I had his advisory service where the count was trying to justify a top, with a very complex corrective wave.

When the indices made a new high, they revised the count into a compounded impulse wave instead of the weird corrective wave. That really turned on a light bulb in my head. You can count things up in several ways and there are very few times when you should do anything based on a count.

And now, the Wide Tailz count. Really nothing actionable:
 

Attachments

  • Dowcount.jpg
    Dowcount.jpg
    479 KB · Views: 7
margin_gamble said:
(1) bothered me all day yesterday. Let's see how the 200-day ema holds up today.
More...


I was absolutely right, right, right, right, about the 200-day ema on QQQ holding up the dump.
I have proof, solid proof. It was a hunch yesterday but today it is soy-tenly verifiable technically


QQQ locomotive forming a Topping pattern on 30-min or 60-min. The neckline from left to right runs right thru' the contact point of the 200-day ema with Price. The juice is th en divided all thru' the length of the neckline. When the neck line breaks we will get the shortissimo goodies.





item
 
You must log in or register to reply here.
Back
Top