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« The Fed Cries "Uncle!" | Main | Neely Emergency Bulletin »

Monday, September 15, 2008

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Upstart

Question guys: In a triple zigzag, can the second X-wave either go into the territory of the first X-wave or not go into it? Either one occurs? Thanks.

Upstart

Paul, I read Carl Futia's blog often, and he said this morning that December gold could make it to 935, but that would be it. He still expects a drop to 700.

Eventhorizon

Hello, folks, long time no post - but I have been following along.

Man this volatility is making me sick. Now they want to ban short-selling?

TPTB are doing a masterful job of floating rumors to panic the shorts - today's bailout requires congressional approval, it might take months. This anti-short-selling thing may turn out to be as little as reinstating the up-tick rule. No way will Wall Street allow shorting to be banned - how the hell would your prop desk function?

And philosophically speaking, if a short is not allowed to borrow stock and exchange it for cash, then a long should not be allowed to borrow cash and exchange it for stock. In the long run this will only drive market participation down.

I still have some open short positions that will gap right through my stops in the a.m. this sucks.

Fork_Master_Serg

ban short-selling is good - no more short squeeze for bears - we just go down, rest a bit, go down, rest, repeat :)

Eventhorizon

So how can anyone profit from this if they can't short? Don't say options because none would write any if they can't hedge their position by shorting.

No shorting => no day-trading => no liquidity.

Isn;t liquidity in markets the root of all these problems.

What about futures contracts? No one can go long unless someone else goes short. And how can anyone arbitrage between the futures market and the stock market? Isn't it arbitrage that keeps the two markets in synch?

There are so many problems with this proposal.

I think you were being ironic, but, really, this is ridiculous and every retail short is going to be scared silly.

george

i listened to robert pretcher on yorba.tv
he said we are in a large triange that started
in 1999. the triangle should last 90 years.
he looks for the price of the dow industrials
to equal the price of gold at some time during
the triangle.
he says based on the past couple of down days
having a high ratio of stocks down to stocks
up as evidence confirming we are in 3 of 3 down.
george

Ray

Prechter has no credibility for me because he said if gold exceeded blah blah level it would negate his deflation prediction. Gold has risen through those levels over and over again and he just wriggles and writhes and rationalizes.

Anyway, the authorities will print money pronto if they have to. We'll see extreme inflation before we see bank runs.

min

Ray:

Prechter has credibility mainly with newby amateur market dabblers or ultra sophisticated traders that know how to profitably use him as a contrary indicator (a small crowd). You are not alone!

He is a one man financial wrecking machine. Those that have heeded his advise and actually tried to do something following his calls are in the poor house and for the most part non-existent.

Any long term followers still around are not market traders but most likely market spectators that like his doom and gloom drone and secretly enjoy living in fear.

His scenario may, one day, come to pass, but look at the fantastically long time he has been wrong so far and all the missed opportunities. Is that indicative of superior market timing skill or of someone that has discovered there is a large following for a doom and gloom story of whatever flavor?

Prechter is a marketing forecasting dumb-ass, but he is a clever marketer —this is his real meal ticket.

Wave Rust

See my 1st page comment

look for the reverse down by noon today and buy that
could retrace most of the whole rally
good position trade, may last many weeks
short vix, long banks, long spz, ymz, nqz

good luck
good trading to all

min

My NDX long just 5x in value? Are shitting me? I'm outta here!!

P.S. Thanks Bob

superbull

so much for the bearmarket - it is over

min

Well, we can say it is on hold for a couple of weeks or so. Let's nor get too comfortable just yet, lest we end up bear-b-qued like the recent casualties.

min

Nothing wrong with making money in both directions, right?

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