I currently hold positions in all of the ETFs listed above. I CANNOT and AM NOT advising ANYONE who reads this to do the same! I merely wish to share an interestingly common chart pattern that can be found with all of them. If YOU choose to enter any of them you do so AT YOUR OWN RISK!
As the market sits today at very important inflection points technically it behooves everyone to think about the question "What do I do in case things go horribly wrong here?". Personally I am close to 90% cash at the moment and scared to death lol It is my own opinion that the market(s) will trend lower very soon. It is also my own opinion that they will have a very difficult time remaining above the March lows. Below is a 3 year $INX chart. The candles are 1 month. I also use SMAs at the following periods (in this case these are MONTHLY SMAs) 9, 20, 50, and 200. Also please notice the bollinger bands set at a standard deviation of 2. Below the chart you will see slow stochastics and also a momentum indicator. I will show this one chart here, $INX, but I will also urge you to use the same charting criteria to view all of the above symbols. I think when/if you do you will surely understand why I request you do so ;)
It is my opinion that there is NOTHING the Government can do, NOTHING the FED can do, NOTHING the Central Banks can do to prevent a severe correction. I am not interested, today, in criticizing any of these entities other than to point out the fact that, IMHO, there is ABSOLUTELY NOTHING they can do this time to prevent a severe market correction. I merely seek protection of my capital and, at this moment in time, I feel being short the market is the best way to do that. Never forget that the market is ALWAYS right. Never forget that we have ALWAYS had severe corrections, they are nothing new. The main difference THIS TIME has been the Governments, FED, Central Banks, financial communities, REFUSAL to accept a much needed deep correction in the markets along with the excess baggage of deflation. 'THEY' cannot allow this to happen THIS time because all the freakin' politicians, Governments Worldwide are in the pockets of the financial industry. They cannot survive without the financial industry. We CAN! They CANNOT!
I'll continue this later... Please closely examine the charts and draw your own conclusions on most likely market direction in the near future.
Greg
No comments:
Post a Comment