Loading ...Stock Market Targets Acquired
The targets layed out yesterday about how to play the FED release have been reached early today. Probably Monday, the decline resumes. This is the area to sell, go short and or buy puts. “The stock market rally currently under way is likely to run out of steam at the gaps in all the major averages created by this past Monday morning’s open. Those targets, just below Friday’s closes(S&P 4425, NASDAQ 15,000)would also be approximate 50% retracements from the market highs to their lows during Monday’s session. If today’s rally reaches just below Friday’s closing prices, filling the gaps, Before the FED announcement, one should fade the market by putting on short positions or preferably, buying puts. If the market doesn’t reach the target before the FED announcement, one should wait for the announcement and even the press conference to see if they give the averages the necessary boost to fill the gaps and the target prices. If they get there after the announcement, one, again should go short and or buy puts. If the market doesn’t reach those targets, stand aside and see if they are reached tomorrow or Friday. “
I think Dennis Gartman is still around. Someone mentioned him recently.
He was one of the more costly subs you could take on, at one time.
Years ago, someone in our group sent him around regularly. So I was able to get a pretty solid fix on him.
The reason he commanded such a high price for his analysis, was that he was so reliably positioned at 180% opposite of what the market then went on to do.
Newbies would pan him, not realizing he was the industry semaphore, but as a contrarian.
So instead of giving another worthless dissertation about nothing. Do you agree or disagree on what the general stock market does from here. Only comment necessary.
“Do you agree or disagree on what the general stock market does from here.”
I already answered you in that dissertation, politely. But now I’ll be blunt.
Agree with what, precisely? I don’t even see a specific call being made, INCLUDING TIMEFRAME and potential targets or timing. As usual. Just a nondescript “sell” call.
That call was wrong yesterday when it was issued, its wrong again today. And if its right tomorrow, it probably won’t be right for long, as I see it.
It wasn’t wrong yesterday or today. You need to learn reading comprehension, I didn’t say it would definitely happen yesterday, I layed out what the targets were to take action if they were reached. They weren’t until today which I clearly spelled out was also a possability.
I said it could happen today or tomorrow. How is that wrong? You are so clueless, maybe you should take up stand up comedy, you couldn’t do any worse than your economic and market commentary, maybe you will get a few laughs for your “troll” outfit.