Monday, September 29, 2008

CRASH WARNING - Update

We made it.

Beleaguered and weary, from the abyss of the crash, a shrill cracking voice wonders aloud, "BOOYAH, Jim, have we suffered enough, or are there further horrors awaiting us in the treacherous days that lay ahead?"

From up high comes a deep baritone reply: "Who knows what evil lurks in the heart of men?"

Let's use the Daily Triangles for an exit on this trade.

A

PS: I'll have a new tutorial on trading the Q posted at Market Club in the next few days. I'll alert all when it appears.

6 comments:

Anonymous said...

"Let's use the Daily Triangles for an exit on this trade. "

Which trade u mean?

Anonymous said...

are you sure we made it?

I don't think it's over yet...

Dave said...

"Who knows what evil lurks in the heart of men?"

The Shadow knows....

Chad Liddell said...

Hi Allan-

I'm I interpreting you that you think this is the bottom? We're definitely at a huge support point but I can't help but wonder if the, "pass this bill or we will all be screwed," portrayal of the bailout will lead to a self fulfilled prophecy. Anecdotal reports seem to be that consumers have all but frozen non-essential spending. I did initiate a couple of longs yesterday and one today but I've put trailing stops on all, which I rarely use.

Allan said...

chad, you're right in your assessment, remember though that some may already be using the triangles as a mechanical system and for them, triangles are still on a Sell.

As for my Crash Blog, not much has changed in the underlying structure of the market that caused be to post the "C" word, so beware and trail.....

A

tommot said...

While the quote from the Shadow is a magnificant echo from the past, who said "It's a chancy job. You're the first man they look for and the last one they want to meet...(pause) It makes a man watchful and...(beat) a little lonely." Music, sound of horse in 3rd gear, and maybe the whine of a bullet.