Will the S&P hit 1300 in February?
- Thread starter rubberbird
- Start date
Quote from William Rennick:
My work has the S&P forming a bi-lateral trapezoid. The last time it did this I was half bombed in Vegas at the annual Korean War Vet Convention. Once I was able I placed an urgent call to my broker, Jigs Casey. The call went something like this,"Jigs, Jigs, wake your ass up. Go long the OEX at the open you son of a bitch, answer the damned phone go long you sleeping bastard!!!," then I must have passed out. When I woke up Maria B. was on the tube doing Market wrap, The S&P was up 23 that day, and continued up the next day. Jigs got me in and I had a big score on that trade. I say the SP hits 1300 this month, things are looking too bearish, my bullshit detector is ringing load.
...Rennick out
well, it happened the above mentioned bi-lateral trapezoid paid off with a large move on the s&p into yesterday's bond auction. At precisely 1 pm EST yesterday (thurs.) the bi lateral trapezoid morphed into a 3 legged parrellogram. This sudden technical swap forecasted yesterday's reversal. I looked at my computer screen this morning and thought for a minute that a large twin peaked aureola had formed, then I realised that I had accidently left my browser on the Ampland porno site. By the way this is great site to go to during boring Market spells, HUHUHUHUHUHUHHUHUHUHUHUHUHHUHUHUHUHUHUHUHUH.
....Rennick out
you did see it, and it's there. good technical call!
Choad, buying dips, yes, but also selling the strength. In this current market, it seems to be working pretty well. To be very bearish or very bullish has not be very rewarding lately. As even more important in trading than in life, being an agnostic not a bad place to be.
