So will Monday be Black Monday for real this time?

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Quote from Spectra:

When people in my room start asking me to predict the next support or resistance (during the same day) I always whip out my 13 guaranteed predictions.

They are more accurate than our real trading record. They are:

Today's Market Prediction
By Alex L. Wasilewski


1) If you trade without a stop loss actually placed in the trading platform:
YOU WILL LOSE MONEY TODAY

2) If you trade more than 10 times today:
YOU WILL LOSE MONEY TODAY

3) If you trade against the trend without waiting for ALL your conditions to be met:
YOU WILL LOSE MONEY TODAY

4) If you jump from trading method to trading method on a hot tip:
YOU WILL LOSE MONEY TODAY

5) If you only take trades that meet your market prediction for today:
YOU WILL LOSE MONEY TODAY

6) If you are here to make friends:
YOU WILL LOSE MONEY TODAY

7) If you believe people who tell you it is possible to make 90% profitable trades:
YOU WILL LOSE MONEY TODAY

8) If you believe you can become a professional trader, brain surgeon, trial attorney, engineer, or CPA in 30 days:
YOU WILL LOSE MONEY TODAY

9) If you believe the market will go up today:
YOU WILL LOSE MONEY TODAY

10) If you believe the market will go down today:
YOU WILL LOSE MONEY TODAY

11) If you believe that there are traders who have secret knowledge of secret trading methods that you can plug into a computer, auto trade, set it and forget it:
YOU WILL LOSE MONEY TODAY

12) If you follow your rules, and even after entering the perfect setup, seeing that setup bring you a loss, then letting that loss make you ill, angry, sad, jealous, fearful, or frustrated:
YOU WILL LOSE MONEY TODAY

13) If you always try to pick exact tops and bottoms without waiting for the evidence of a top or a bottom:
YOU WILL LOSE MONEY TODAY

But so far this is my plan going in to today's trading, subject to many adjustments.

If the YM rallies to a previous hourly low of 12308 and begins to fail, I will short it again.

If we break a little below 12138, a previous swing low, I will look for a long counter trend trade to return into the first hour opening low.

We will see.

Successfully,

Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
1-877-GOLONG1 (1-877-465-6641)
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Wow. Welcome to my ignore list.
 
A little over 3 hours to go and the suggestion of today being Black Monday seems ridiculous. I'll guess we'll just have to wait till Amazing Rennick's crystal ball offers the final word of the day.
 
Quote from The Kin:

It's 12:30 and financial markets appear to be functioning normally. Crude is steady while the Yen has fallen off its highs for today. Stay tunned for possible Black Monday 2008.
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Care to enlighten us as to HOW you are POSITIONED for "Black Monday"?
Otherwise, this thread is pretty much useless. and without any constructive value whatsoever.

That's what really counts.
Making money.
Period.

What are you short?
At what prices? And where is your stop?
How are you positioned for a "Black Monday"?
 
For the last 2 months I have been tuning into some of the segments on on cnbc and everytime I listened to it the talking heads were saying buy, buy, buy. HAHAHA, what fools, I have to laugh. They said the credit crisis was over, HAHAHA. This is just toooo funny, this is far from over like I have been repeating myself a 1000 times already. There is no more bull market, there is no more goldilocks. I moved my targets further down on becoming bullish and will become bullish around 10750-11k. Until then there is really no reason to get too bullish. Maybe for a bounce you can get a little bullish, I did today with a little DDM.
 
Quote from sammybea:

is this black monday? Sorry.. but somebody else has to be thinking this except me. Oil down... but no effect on stocks?
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DOW down 100+ or even 500+ isnt considered black monday, a dow down 1000+ would be somewhat close to a black monday.....
 
Quote from S2007S:

DOW down 100+ or even 500+ isnt considered black monday, a dow down 1000+ would be somewhat close to a black monday.....
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indeed.. but the day isn't over. I have some straddles on, but staying light.
 
Monday will most likley be green, but any rumours this weekend a la Bear Sterns?

Can Freddie and Fannie borrow from the discount window or not?
Is LEH filing for bankruptcy next week?
Will IndyMac cause a bankrun on other FDIC watchlist banks?
 
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