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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (5900)9/3/2010 1:00:31 PM
From: westpacific  Read Replies (1) | Respond to of 26251
 
The Dome Roof Monthly allows that level...it could be so. It does violate some other levels weekly; but the bear market remains intact even at his target level on the monthly.

On the monthly the Dome Roof rest at just below 1250.

I do not think we go there....based on weekly chart; but anything can happen with the cartel in control and electronic fiat!

To shake the trees hard and allow more selling into the short covering.

I do not care; I hold onto my 20 percent short hedge no matter what...insurance. Into the 2016 cycle lows; it is going to take patience to profit.

When it breaks; it will be an event out of left field and will break hard...a Black Swan.

W



To: Rarebird who wrote (5900)9/4/2010 3:52:45 AM
From: westpacific  Read Replies (1) | Respond to of 26251
 
Put Call; both daily and weekly is now pointing bearish...

Interesting because at the 2007 top we had this same setup on the Put Call and the market staged a final thrust rally or exhaution into October...

I think this time we roll over in September with the exhaution running out much quicker.

Did not see any technical damage this week to the bearish case.

Great weekend to you.

W


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