The Top is Now In...Go to Cash now...right now...
- Thread starter retaildaytrader
- Start date
I have my reasons for saying Apple $250 right before earnings, but explaining to Lucrum alias and the trolling mods would be a waste of energy that I planned on using to spin tops and construct houses of cards which I feel is more constructive then trying to explain to the peanut gallery.
If anyone cares to know my thoughts on the market, well, it can be summed up by this chart. I am just waiting for price to break through the 10 day moving average. The catalyst will be Bank of America in the morning. BAC has $1 trillion in loans outstanding and thats if you use the funky accounting methods they use. If you use my accounting method which would be to value those loans at whatever they are worth right this second, then BAC's assets would probably be about 500 billion if that.
In the morning, I expect BAC's price to be less then what it is now.
From what I am reading, this foreclosure process is going to be a fiasco and seems to go back about 2 years from when the financial panic started. BAC has not only committed a civil tort, but a criminal act. There are forged and faked signatures on legal documents. If someone does not get arrested and the government does not step in, then I would be shocked.
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In the morning, I expect BAC's price to be less then what it is now.
From what I am reading, this foreclosure process is going to be a fiasco and seems to go back about 2 years from when the financial panic started. BAC has not only committed a civil tort, but a criminal act. There are forged and faked signatures on legal documents. If someone does not get arrested and the government does not step in, then I would be shocked.
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Quote from retaildaytrader:
If anyone cares to know my thoughts on the market, well, it can be summed up by this chart. I am just waiting for price to break through the 10 day moving average. The catalyst will be Bank of America in the morning. BAC has $1 trillion in loans outstanding and thats if you use the funky accounting methods they use. If you use my accounting method which would be to value those loans at whatever they are worth right this second, then BAC's assets would probably be about 500 billion if that.
In the morning, I expect BAC's price to be less then what it is now.
From what I am reading, this foreclosure process is going to be a fiasco and seems to go back about 2 years from when the financial panic started. BAC has not only committed a civil tort, but a criminal act. There are forged and faked signatures on legal documents. If someone does not get arrested and the government does not step in, then I would be shocked.
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Im looking at the same thing and the 10 MA is a buying opportunity, since its a bull market.
I want to thank you all for your love and support during my righteous call! I will be back on here to call the bottom of the downtrend which I suspect will last at least a month, but probably more. Good luck!
you justify your logic by the 10-day moving average. 10/4 and 9/23 are examples where the s&p closed lower and there was no follow. Actually, closing below the 10-day moving average was only a good indicator for the last 1/5 times this happened. you sound pretty confident on your call and are already taking credit... good luck for your sake. hope you're right. imo, the move was more justified by china news and the dollar finding support and bouncing.