Markets right now in premarket gapping up 0.8%-1%.
SPX at 1300 futures
Dow jones near 12.500
Nasdaq naer 2.400
All indexes right now in the futures at some round numbers and levels ,, markets had 10 x downgrades and with Greece having major problems and could see a deffault soon,, you see a PERFECT example how manipulated markets is and how the banksters can run the futures higher.
All in all ,, it seems to me like the banksters wants to test those round levels or the SPX 1307 fib retracement from 2011 highs to 2011 before pulling the plug.
For me - I stay all in shorts and going to hold through the short term pain as I see this as a major top forming. I have the 19th on Thursday as reversal time and cycle so we might peek and then begin the bear market to new lows below the October lows imo.
Its quite funny as many people in November and December 2011 were shouting at me saying,, impossible for markets to see 1300+ and even 1270+ ,, I guess I were a bit too early but however I were pretty much right that markets easy could see those levels. Now people talking about all time highs and 1350-1450 and stuff ,, another perfect example on that not many see the markets could see below 1080 again which I think we will ,, so lets see again if we over next 1-2 months is going to see those levels. Dow jones already near the 2011 highs ,, and I still believe we are in a bear market which means we should not breach the 2011 highs but make a "lower high".
Watch the SPX 1307 fib retracement and watch the futures 1300 SPX , 12.500 dow jones and 2400 on Nasdaq ,, all round numbers.
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ReplyDeleteI can verified that you did say we will have a xmas rally to 1300+. But you lost your way when it reached 1243 on 22 Dec and you shorted the market. Since then, market has been moving up. Guess your timing is way out this time. So if it reaches 1307 and above these few weeks, will you change your mind about 1000 in 2012?
ReplyDeleteI don't know what you saw to change your view, because you were originally right on 1300+ but then flipped the wrong way. You could have made some $$$$ versus waiting with losses. What is your cost basis so far on TVIX?
ReplyDeleteWatchZombie
ReplyDeleteNo I still believe we are going to see below 1000 on SPX 2012.
I have a date from 19th January for a potential reversal date ,, markets dow jones not been moving much higher last 1 month from 12.300 to 12.500 (200 points in 1 month) so either way as I said , markets is in the forming of a major top pivot (2012 top) and this should be shorted. :-)
Best
Chris
Sound like you are looking some cycle date. Yes, 18-26 Jan is consider a critical period, a few cycles are giving contradicting signals. We just has to watch when it reaches 1307.
DeleteYes 1307 on SPX is the 78.6% fib retracement ,, seems like we might get a gap up to this area. Either way a peek in markets is forming and a trend reversal by 19th January might start in my book. I will hold on and have patience and let the markets do what it wants here , just chilling until then :-)
Deletejfk TVIX 26-27 range so underwater a bit ,, but remember that TVIX is a stock ETF which can go up 30% overnight and you wont be the one missing this when we start to sell off.
ReplyDeleteTo be underwater -10% or even -20% is in reality not much. Remember the TVIX were 110-100 in October (More than 4x what it is now...) so the upside remains huge here with the downside limited.
Yes again I did not have enough patience for 1300+ ,, and I missed the last run up ,, but as long I catch the "bigger" moves up and down in markets I'm happy. So if we are 1200 or below in 1 month from here ,, then no problem with it.
The banksters will suck as many people into this market as possible before pulling the pin.
ReplyDeleteHaven't seen the lastest sentiment figures but as of mid-last week bullishness was at 49%.
I suspect that at close today it will be closer to 55% and will likely increase by 2 percentage points per session so that by late this week we could be nearing long term high territory at 60+ %.
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ReplyDeleteOh and forgot to add that TVIX doesn't have to go down as the market goes up. It can diverge(ie positive correlate) due to the futures component.
ReplyDeleteYes thats true ,, with SPX to new highs since October it does not mean that VIX is going to new lows ,, correct :-)
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