search elliott

  • Google

Enter your email address:

Delivered by FeedBurner


  • Where From?
    free counters
Related Posts with Thumbnails

« Demand Media Kicks Off Social IPO Season With a Bang | Main | Three Things to Know About the GDP Report »

Thursday, January 27, 2011


Feed You can follow this conversation by subscribing to the comment feed for this post.


"Credit card rates at record highs near 15%". This is a headline I just read. Unemployment is over 9% (and U6 close to 20%). The Case-Shiller index shows a double-dip in housing is underway.

How can the consumer be spending based on the above? And, if the economy is mostly dependent on consumer spending, then how can it be on the mend -- as is widely acknowledged?

And this is not to mention our incredible gov't debt. We hear astronomical numbers all the time and become numb to them, but it hit me again when I read that our current deficit will be 1.5T on top of 1.4T the previous year. And, that we're borrowing 40 cents on every dollar spent. That really is shocking.

And yet... the stock market has been climbing relentlessly (omitting the recent few day's downturn).

Is being bearish wrong? Is it just a preference for "gloom and doom"? Is the glass really half-full instead? Are bears spending too much time in the company of other bears and missing a bigger, more optimistic picture?

It's much better to be on the right track than to be going against the tide. What is the true, realistically guessed, direction of the tide?


What really stood out for me was the rabid nature of the bulls on Kudlow's show last night. They were actually indignant that anyone with an ounce of brains could rationalize a correction here lasting beyond Monday. Their answer is to hold, hold and then hold.

A definite shift in mindset imo. To me it says the market could go any where next week. The real tell will be the month of February.

A guy picked up my truck this morning for detailing. He is Mr Fixit, owns his own realty company and property management company. Yet there he was knocking at my door 2 hours early to spend the day detailing my truck for 200$. Hard working people are having a tough time making ends meet.


da bear

rc quote: '"Credit card rates at record highs near 15%". This is a headline I just read. Unemployment is over 9% (and U6 close to 20%). The Case-Shiller index shows a double-dip in housing is underway.'

Wow, rc. 20 and 15. Those are Kevin Love type numbers. lol

Yesterday I put out a Report on gold and silver trying to analyze both markets from an elliott wave perspective. My count may seem strange but my silver count jibes with EWI's new long-term count on silver (at least as of a couple of months ago).

here is a link:

da bear

P.S. yelnick, I know you like to follow Tesla, and if you discount the initial move up and down, the move off the first $15 low appears that a possible wave 5 of an Elliott Wave advance is imminent. It's not a bad set up, so perhaps there is a trade in Tesla.

link to a basic Tesla chart courtesy of

Account Deleted

MSFT Chart:

Mamma Boom Boom

As I look over the chicken entrails, I can't help but wonder if I should put on my steel toed shoes, Monday morning.


Wave Rust

"Hard working people are having a tough time making ends meet.


I have found that the hard-working people having the toughest time are those with too much CC debt, who refi-d their home at the top (2007-2008), and, or, had not prepared for any bad times.

The recession proof people are like the guy who repairs my shoes. He works many 16 or 18 hour days to get his work done in his shop. He does well in a good economy and better in bad times.

He's getting closer to retirement and can't find anyone to take over his business of 30+ years. He's highly regarded for his work. Plus, he's a nice guy too.

He'd apprentice a younger person, but he has found that nobody wants to work that hard. He says 3-5 years of work with him and a kid would see it all, and have the skills to take over a good business that paid off 2 houses, put his kids through college, allows him a few weeks of vacation every year and a good retirement savings.

NOBODY wants to be the "shoe repair" guy bad enough to work for it.

He has more business than he can handle. Talk about a Palin "WTF moment"!

How can the Future Be Won if nobody wants to play?

wave rust

Wave Rust

all this chatter about spx 1260, 1270 or 1220, etc. is just that ,,,, chatter.

IMO, let the market shine the light down the path it's going to take, then jump in. Set your stop losses, and your profit targets. continue to adjust profit stops as the market or stock goes your way.

I may post a comment about price targets but none are carved in stone. Keep your outlook simple and flexible.

I do think 1190 spells more trouble than I want to see as a bull, but I'll go with it if spx gets there and then dives below it.

Monday shapes up as a nasty for bears who stayed short over the weekend. quite often closing on the lows raises the potential for a short covering rally on the next open.

Look at what RUT did. Nasty.

wave rust


"JT, I tested your 1261 scenario and it failed. In the 1270/1263 zone monday, yes a bounce starts. The pattern and formula's this month showing me a pattern wich in the past pinpointed big declines with a very high accuracy. I don't know where this decline bring us, but the first stop should be the 1220/1200 area. If this is the bottom, it's only a correction of 6%. But your 1261 will be smashed after the bounce." - MT

Looks like 1261 was the LOW.
Looks like it was YOUR SYSTEM that FAILED, not mine.


sedona tours

Overhead height should be at approximately sixteen feet, but the open ceiling to the peak makes horse and rider feel more comfortable.

The comments to this entry are closed.