Timing Is Everything? - Part 9
Following up on Timing Is Everything? - Part 8...
This is a correction, and the direction of a correction is down, not up. So the shoe is on the other foot or hoof in this case. Thus, if the bull wants to buck or break the direction or trend, this must be done to the upside with conviction.
A failure can result in gravity and CON-fidence not being your friends. SP500 is currently stalled at 2736, which is .382 retrace. IMHO it could go further by sometime Monday, November 5th (a date of which our readers have been duly advised).
In any event, breaking 2815 on high volume might be a good signal of conviction. Remember, it ain't over till it's over. Till then, keep your feet on the ground and keep reaching for the stars. 01 Nov 2018, 02:16 PM
The Nattering One muses further... Wasted Utes indeed, some of us remember... 10/24/29 was Black Thursday, 10/29/29 Black Tuesday, 10/19/87 Black Monday, then there was...
Monday 09/15/08, Lehman filed BK. Two weeks later the Senate voted against the bail out bill. This was 09/29/08 Black Monday on which $1T was vaporized, remember?
At -777.68 pts the latter Black Monday is only #3 in DJIA point decline history. Filling out our top ten from #4 to #10...
10/15/08 -733.08 points
03/22/18 -724.42 points
09/17/01 -684.81 points
12/01/08 -679.95 points
10/09/08 -678.92 points
02/02/18 -665.75 points
08/08/11 -634.76 points
In fact four of the largest DJIA pt drops in history have occurred in 2018. At #1 and #2 on our countdown were 2/5 and 2/8, preceded temporally by #9 on 2/2/18. Remember?
Three of the top 10 in Feb 2018 alone. Those dates might be pulled forward next year to Jan 14th or the 3rd week of January 2019. And those who read me and pay attention already know why. Remember? I am somehow reminded of Vinny Gambini ...
Again, some of us remember. You can only remember if you were around at the time. Coming full circle, and those who read us knew we would...
Flash forward... China has already imploded with a +35% haircut, and we are in -10-15% correction territory. A scant three weeks ago 10/10/18 at -94.66 pts was the 4th largest SP500 pt decline of all time. Remember?
Five days later on Monday October 15, 2018 Sears filed BK (not a Lehman, but the Amazon of the 20th century, its different right?)...
Three weeks later, November 6th (that damn date keeps turning up like a bad penny) are the mid term elections. Not voting on a financial bail out, are we? Last one passed December 20th, 2017.
It's different this time, like it always is, right? Gotta love those Utes. More to come in Timing Is Everything? - Part 10, stay tuned, no flippin.
Recommended reading:
Ruckus Premium? (Quarter End)
Dark Side Of The Moon?
Dark Side of The Moon? Part 2
Timing Is Everything?
Timing Is Everything? - Part 2
Timing Is Everything? - Part 3
Timing Is Everything? - Part 4
Timing Is Everything? - Part 5
Timing Is Everything? - Part 6
Timing Is Everything? - Part 7
Timing Is Everything? - Part 8
From Salmo Trutta:
The Dark Side Of The Moon: The Seasonal Clock
The Darker Side Of The Moon
B for Bob... "Action today does not bode well for the bearish crowd. Gotta break ES 2692 for a chance at a real plunge. Until then, this bounce could go quite high. First target around 2755... If SPY makes a strong move through 273 then I'm cutting my losses and getting out of the way. The move past 273 could be volcanic." - 01 Nov 2018, 10:36 AMWe Nattered... Yo B - Polarity is highly underrated, hope is ever high and youth is wasted.
This is a correction, and the direction of a correction is down, not up. So the shoe is on the other foot or hoof in this case. Thus, if the bull wants to buck or break the direction or trend, this must be done to the upside with conviction.
A failure can result in gravity and CON-fidence not being your friends. SP500 is currently stalled at 2736, which is .382 retrace. IMHO it could go further by sometime Monday, November 5th (a date of which our readers have been duly advised).
In any event, breaking 2815 on high volume might be a good signal of conviction. Remember, it ain't over till it's over. Till then, keep your feet on the ground and keep reaching for the stars. 01 Nov 2018, 02:16 PM
The Nattering One muses further... Wasted Utes indeed, some of us remember... 10/24/29 was Black Thursday, 10/29/29 Black Tuesday, 10/19/87 Black Monday, then there was...
Monday 09/15/08, Lehman filed BK. Two weeks later the Senate voted against the bail out bill. This was 09/29/08 Black Monday on which $1T was vaporized, remember?
At -777.68 pts the latter Black Monday is only #3 in DJIA point decline history. Filling out our top ten from #4 to #10...
10/15/08 -733.08 points
03/22/18 -724.42 points
09/17/01 -684.81 points
12/01/08 -679.95 points
10/09/08 -678.92 points
02/02/18 -665.75 points
08/08/11 -634.76 points
In fact four of the largest DJIA pt drops in history have occurred in 2018. At #1 and #2 on our countdown were 2/5 and 2/8, preceded temporally by #9 on 2/2/18. Remember?
Three of the top 10 in Feb 2018 alone. Those dates might be pulled forward next year to Jan 14th or the 3rd week of January 2019. And those who read me and pay attention already know why. Remember? I am somehow reminded of Vinny Gambini ...
Again, some of us remember. You can only remember if you were around at the time. Coming full circle, and those who read us knew we would...
Flash forward... China has already imploded with a +35% haircut, and we are in -10-15% correction territory. A scant three weeks ago 10/10/18 at -94.66 pts was the 4th largest SP500 pt decline of all time. Remember?
Five days later on Monday October 15, 2018 Sears filed BK (not a Lehman, but the Amazon of the 20th century, its different right?)...
Three weeks later, November 6th (that damn date keeps turning up like a bad penny) are the mid term elections. Not voting on a financial bail out, are we? Last one passed December 20th, 2017.
It's different this time, like it always is, right? Gotta love those Utes. More to come in Timing Is Everything? - Part 10, stay tuned, no flippin.
Recommended reading:
Ruckus Premium? (Quarter End)
Dark Side Of The Moon?
Dark Side of The Moon? Part 2
Timing Is Everything?
Timing Is Everything? - Part 2
Timing Is Everything? - Part 3
Timing Is Everything? - Part 4
Timing Is Everything? - Part 5
Timing Is Everything? - Part 6
Timing Is Everything? - Part 7
Timing Is Everything? - Part 8
From Salmo Trutta:
The Dark Side Of The Moon: The Seasonal Clock
The Darker Side Of The Moon
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