Urgent Message From Rennick

[maxpi]

I have an intraday double top on the YM, right on schedule... I have a TA short bias for the very near term as well.... no break to the downside yet but...

 

[William Rennick]

Quote from SiSePuede!:

Probably the most honest part of anything you've said today you ass.

Look up the term weak sister and this guys picture is sure to pop up.

 

[Thunderdog]

Quote from William Rennick:

2:30 PM est DOW +63

OK GUYS,
IT'S NUT-CUTTIN TIME. THE FORETOLD COUNTERTREND JUST MAXED OUT... LET THE SELLOFF BEGIN!!!!


Rennick out

A rather ominous choice of words, using shorts and "nut-cuttin time" in reference to your plan of action. Good luck, hombre. I know I wouldn't be short at this very moment, but who's to say what will happen later today.

 

[mschey]

Don't worry Rennick...the fix is in...and I'm witcha!

 

[abducens]

good luck full speed ahead down the hatch! one day there will be a sell off and that day could be today.

 

[Thunderdog]

Quote from mschey:

Don't worry Rennick...the fix is in...and I'm witcha!

Hmm. "Shorts," "nut cuttin' time" and "fix." Why do I feel uneasy with these references?

 

[nonlinear5]

Quote from Thunderdog:

OK, just be sure not to mistake gut feel for gas.


Good luck.

As for me, I can't even see two price bars ahead of me. I am legally market blind, so I use a seeing-eye price bar on a very tight leash.

You seem to be implying that it's easier to see two bars ahead than it is to see longer term. I think it's exactly the opposite. It can be predicted with a fair amount of certainty that the market will be higher 20 years from now, but what happens in the next 5 minutes is just noise.

 

[SiSePuede!]

Quote from William Rennick:

Look up the term weak sister and this guys picture is sure to pop up.

Says the guy who predicted a terrorist attack the other day that never happened and predicted a crash at a specific time today that never happened.

 

[Thunderdog]

Quote from nonlinear5:

You seem to be implying that it's easier to see two bars ahead than it is to see longer term. I think it's exactly the opposite. It can be predicted with a fair amount of certainty that the market will be higher 20 years from now, but what happens in the next 5 minutes is just noise.

Not exactly. I can't predict either one. Further, Rennick was not referring to 20 years, he was referring to end of day. I couldn't predict end of day if my life depended on it. Neither can most mortals. However, I can react to a predefined setup in the very short term and define my estimated risk in the context of that short term. Then I wait and see what happens, and then I react some more.

And how are you positioning yourself at this very moment to maximize your leverage safely with your 20-year time frame?

 

[Trvlwanderer]

RIMM gonna bomb with the intra double top in?