Goldtent TA Paradise

ASHES TO ASHES MUSK TO DUST

1. Gold Learner says:

   May 20, 2022 - 1:20 pm at 1:20 pm

   Sir Fully,
   I wrote the other day, and I’m writing the same drivel again.

   Elon changed his focus from TSLA to TWTR. Why?
   Bezos abandoned AMZN soon after it became dead money.
   Or Gates leaving MSFT’s board.

   Sometimes the bell is rung at the top (or near it).
   The fans just become deaf.

   Hats off to Sir Rambus for the TSLA short call last week.

   GL

2. Gold Learner says:

   May 20, 2022 - 1:37 pm at 1:37 pm

   And, inline with Sir Rambus’ call on going short on TSLA

   From Robert MgHugh:

   Today’s Market Comments:
   The stock market zigzagged down and up several times Thursday, May 19th, 2022, closing modestly lower. Volume was flat. The Industrials closed 236 points lower, the S&P 500 lost 22 points, the NASDAQ 100 fell 52, and the Russell 2000 was flat. The Industrials hit lower lows for the orderly 2022 crash. The price movement was corrective inside a larger degree declining trend.

   Before we get into the stats, trend signals, and wave counts for stocks given Thursday’s price movement, tonight, I want to first show you an important predictive stock market chart on page 35 in our Thursday Newsletter. It shows that the Dow Industrials have formed a right leaning, Head and Shoulders topping pattern from February 2022 through May 19th, 2022. It actually completed the pattern Thursday, May 19th, when the Industrials dropped to the neckline. This pattern is giving a downside price target of 26,500ish, and is now confirmed, meaning the probability of hitting the downside price target is high.

   This pattern is particularly dangerous, since it is a right leaning pattern, which means the right shoulder’s top is below the left shoulder’s top, bridged by a perfect connect-the-dots declining neckline, warning that there is a further higher probability that the minimum downside price target will be reached. This pattern is predicting that the Dow Industrials could see an additional 15 percent, 4,500 point, drop over the coming weeks and months. This is not identifying “the” bottom for this Bear market, but is targeting a lower level from where they sit.

   Stocks are entering new depths in a series of three, wave threes down. The power we saw from Wednesday, May 18th’s decline is the sort of drop one would expect if three wave threes down of differing degrees were starting. Will there be corrective rallies during this phase? Sure. Yes. Perhaps quite strong if a short squeeze happens. However, if this is correct, stocks are headed significantly lower.

   The decline May 18th and early May 19th hit a new lower low for the Industrials. That low concluded the first of five subwaves for wave {3} down, labeled wave {i} down. The zigzag movement during most of Thursday, May 19th was either all or part of corrective subwave {ii} up. Once complete, wave {iii} down of {3} down will send stocks sharply lower.

3. KenS says:

   May 20, 2022 - 10:58 pm at 10:58 pm

   I don’t feel to bad for him… He sold $16 Billion of stock right st the top (Nov & Dec 2021)