Please read yesterdays update, still in force.
How about them Currencies,
Gold indeed getting hit.
Just reread the that update. Still good
No YEN TO FIGHT. The Rising Sun OF YEN send all the "smart" investors to covers like
a chiken without a head. These people are so smart that they could not even smell coming YEN rise ( see our statments about currencies , past couple updates ). Yes, virginia there are traders and there are 30 something "chiken littles" who think thay know markets or how trade them. Perhaps you should also read my Savehaven.com article " China Stops Here"... Please do not get carried away, the sell pressure is diminished and market can stage another "hooker" high into Apri/May period. We must make sure that market does/can not recover here any more than 61.8% of the decline at any time in this decline.
Good Trading
4 comments:
Hi Boris. Can you please explain : "We must make sure that market does/can not recover here any more than 61.8% of the decline at any time in this decline."
? Thanks
Dear Superbaka, Yes it means if market came down 100 points from the top it should not go back up 61.8 points from there. Fib Retrace.
Good Trading
boris. thanks. yes, I understand you mean fib retrace but WHY should not go back above 61.8? You mean to validate a correction trend? to become bearish multi-day/multi-week? or..? sometimes you change your expectations fast and only talk about what to look for, not why you look for it. much thanks! your blog is the best.
Dear superbaka, Correct, we would like to validate this move down , if it is, then easiest way for me to communicate with people is in ELLIOT/FIB terms, cause they understand it. Of course, being totally market driven, I can/will change my mind on a dime and Pressure gage is has much more influence on what I say than anything else. So, readers must pay attention to what I say in each morning update of this gage. Meanwhile we have some target we can look at for confirm/refute a prolonged down move. You and others reading here know that I think this may not be the TOP and that may come in April/May.
Good trading
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