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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (16831)3/18/2015 8:14:19 AM
From: Fintas1 Recommendation   of 33421
 
John P.. Always nice to read your posts for you are one to understand certain details long before it's accepted.

Here's tid bit for you that you might enjoy.

Back when Crude was pushing the 145 ish. I attended a friends party and the discussion of Crude came up and another suggested Crude was going to 200.

I piped in and stated Crude would see 38 as a safe number to the down.

Needless to say I was embraced by many there. NOT. I heard things such as are you out of your F2243 mind.. It's at 145 ish.. And you say 38 as a safe number. YUP I replied. It turned into a heated moment and I held my ground and did my WRITE IT DOWN and when it's hit. I'll remind you.

So as Crude hit that 38 and heading to the lower number you mention in 2008. I pulled out a photo I took circling the 3 who called me nuts, this and that. I sent it along with a note . Perhaps ya might want to be receptive to a contrary voice.

On the flip side I put up a 110 off that low for Brent.. And yup heard the usual cat calls.

And like you I saw that 101 as a critical moment. I leaned down.

I put up a safe 61 for brent. I did not see it as low as it has gone..

So now we see how it plays out.

But I agree we are going to see volatility and instability.

I'm on record re the downside for the SPX as well as the capped upside of the SPX. HMM to the dismay of many.

Then again this Beverly boy is used to the noise. After all there are still those who believe Marble Head is the birthplace of the American Navy. WINK

Be well John and know you and your family are in my thoughts and prayers during this period of loss.

Fintas
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