As I occasionally do, I send out PUBLIC Notices of BIG market events on the horizon. Earlier today, ALL of our NEoWave Trading customers Shorted the S&P near the highs (around 1040 and 1019 in the Dec. Futures).
Based on current, short-term wave structure, the S&P is now at risk of its LARGEST, FASTEST, MOST VIOLENT DECLINE IN HISTORY!!!
PLEASE protect yourself and don't get caught in the "bargain hunting, and the market is bottoming," mentality.
Good Luck,
Glenn Neely
NEoWave, Inc.
17 comments:
Thanks Allan .. As always blog is insightful.
what is neowave and why should we care? what is their record in calling the market?
Allan, I don't know if you're right or not, but goddamnit, I don't trust anyone more than you on these matters. Thanks once again for sharing with us.
Yeah, what is Neowave and why did you receive that email?
thanks again alan!
-am
As Anonymous points out, the mere fact that the NEowave Alert appears under my Blog is endorsement enough, take it seriously. I added the link to the web site if anyone wants to learn more.
That goes for my new advertiser as well, Elliott Wave International. Like Market Club, it appears on my Blog because I use it and it works well enough for me to pay for it.
Between the two of them we are graced with two of the great technical analysts of our time, known for their ideas as much as their forecasts. The market is entering a rarefied stage, where the two approaches are in agreement as to what lies directly ahead. Not a guarantee, but one hell of a heads up.
Alan, irrespective of whether a CRASH happens or not, I think major reforms are in the offing. I hope these reforms will help the indvidual investor as well. Surely, you may already be thinking to add your input to the reforms....if you are, then may I suggest that you represent us too!
Allan:
If you are interested in the Elliot and other Wave based trading, you should try the Advance GET Software.
They have been around forever and get ULTRA high marks from "Technical Analysis of Stocks & Commodities" magazine, which as you surely know is the "Bible" of trading.
Doug
Doug, I spent a day with Tom Joseph back in 1995, left his office with my own copy of Advanced Get and used it daily until about 2003, when I developed a trading system that didn't use technical analysis at all. It is an excellent albeit expensive piece of software.
Allan,how has your day trading system held up during this volatile market?
Thanks,Ron Rascati
Ron, this kind of market, in free fall, is the only kind of market where my day-trade system won't work. There are plenty of other things I am doing though, to make up for it.
Allan, Do you think it is still a good time to pick up more shares of DGP?
Thanks for you insights, I saved a ton of money in my 401k when you told us to move it to a safe haven.
BC
"There are plenty of other things I am doing though, to make up for it."
Are you able/willing to give any examples?
Thanks
Re: DGP No, I would stay away from Gold right now, it should be doing much better then it is in this environment, the sure thing trade is to short the market;
Re: Examples of trading the bear: Ultra-short indexes and sectors - http://www.proshares.com
Leverage: Puts on QQQQ, DIA, SPY
SDS (Ultrashort S&P500)
these wild swings have all the marks and similarities of 1987 crash...only question is , whether it will be a Monday or a Friday!!! if it is Friday, they'll have the weekend to clean up.i.e if the weekend is sufficient.
Hi Allan, Have you used this:
http://www.chartpattern.com
Any opinion?
Shorties are gonna burn in the fires of the bull
Post a Comment