N r2k 775.00 - 795.80
O GLD 65.66 - 66.92
O QQQQ 49.95 - 50.39
O ECA 64.54 - 65.66
N SPX 1468.00- 1489.10
O TSX 14114.38 - 13906.11
Turning Points Match Yesterday:
B Wave Top at 07:20 PDT enabled Shift to Short side.
Bounce at 09:22 off: 13341,2563,1464
Test of lows at or before 11:45PDT
Monday UP
Jim
7/27/2007 10:00 AM
6 comments:
I know the buy pressures have got to be sky high, but I'm worried we are approaching a deleveraging festival.
The problem is the leverage in the system appears to be concentrated in brokers, mortgage and home builders. This is starting to be very similar to 1973-4.
Back then a small German bank, Herstatt, defaulted on some fx trades. Everyone said it was contained and not to worry. In January of 1974, the major economists were calling for the market to shortly zoom past the 1,000 barrier.
Then it was discovered that Franklin National had "some" exposure...Franklin was gone within weeks. Needless to say, 1974 was not pretty.
Just some history.
John
Dear John,
Pressure Knows....
I will repate Pressure Knows
Why, it always has self adjusting mechanism.
As long as pressure grows, there is alwasy next two days...
Hahahahaha...
Well designed ha.
Love you Dear John and you comments about 74 are GOLDEN
Good Trading
Boris, will the buy pressure create a "buy" or "go long signal" ? Thanks for your help and kindness. Chris
Turning Points Match Yesterday:
B Wave Top at 07:20 PDT enabled Shift to Short side.
Bounce at 09:22 off: 13341,2563,1464
Test of lows at or before 11:45PDT
Monday UP
Jim
Dear Chronictown, as long as BUY PRESSURE grows nothing can be done, there will be alwasys next couple days that could and likely will be needed for a market recovery. So, the pressure is still grwing, we need to see it stop growing and then the light will show in 0-1 day.
Good Trading
Boris, Thanks! Time to be patient...
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