Today was the start of an intermediate term correction

Okay, you guys are probably right. I'm just excited that my large DXD stake will become a couple g's less red (at least temporarily). At least for one rare day...
I just want this to be the start of the mass global correction I've been waiting for.


But I'm not ready to bargain hunt just yet on blue chips or cover some short positions.

Happy trading as always.
 
Quote from pumpanddumper:
Okay, you guys are probably right
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Hey don't rely on anything. For all I know every day can be a top but I wouldn't bet on anything. Stay flexible and let the market (and volume) tell their story day by day. Just gotta read what it's telling us without predicting too much.

All I know is we're still in an uptrend as of right now. Of course, this can change any day but I will make my moves after the fact, not before.
 
Quote from makloda:
Like the previous 837 dips since 2003 were for suckers with all of them ending in the green :confused:

Fed minutes are out at 2pm. Hard to imagine the DJ down 200 points before the minutes are out, regardless of any China dip.
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$$$$$$$$ Congrats to all dipsters :D
 
Looks like another great day coming up for longs. GDP was below estimates, PCE was at estimates, oil will be down, stocks will be up.
 
Quote from pumpanddumper:

I'll go jump off the Empire State building now. I hate life right now. Even the stocks I'm long on were down on a huge up day. I give up...
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Breadth wasn't anything great yesterday...I wouldn't feel too bad.
 
Quote from EtfTraderLives:

Gap down tomorrow and sell off - big. You got two minutes to bail on your longs!
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Where the hell did you go??? This was just starting to get funny!:confused:
 
this is the worst case scenerio.

Oil stays above $120-$150/barrel worse is $200/barrel if USD crashes or breaks down really bad. US growing debt and deficits and slow gdp can't keep the currency strong.

and the nasdaq. s&p and down jones crashes even further as all margins are and line of credit is cut off.

what can go wrong will go wrong.








Quote from EtfTraderLives:

Dow Jones Industrials heading back to 11K.

Nasdaq Composite heading back to 2200.

The return of $80 crude oil looms.
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the problem with averaging down is you don't know when it'll hit bottom and when does hit bottom you have no cash left to buy.

out of cash before it's even not even half way to the bottom.

Quote from EtfTraderLives:

INTERMEDIATE TERM CORRECTION IS NOW OVER.

You may resume to your regular broadcast of BUYING.
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