Now the ATR chart:
Make no mistake, I am waiting for and anticipating the floor falling out from underneath this market. But the trend never lies. With both of these systems, it looks like it will take another 8-10 points lower, beneath Tuesday's closing SPX, to trigger a Sell.
Speaking of bears being bullish:
How A Bear Can Be Bullish And Still Be Right
Bob Prechter: the only good label is an Elliott wave label...
September 8, 2009 (click to read)
A
2 comments:
Allan,
I consider most guru comments, market news, financial newsletters useless.
I just blindly trade my methodology/systems.
However, I'm quickly considering this blog a great source of trading ideas and inspiration.
Why?
YOU NEVER CONFUSE MARKET FORECAST WITH TRADING/INVESTING.
Too many just to get that.
I couldn't care less what Buffett, Kass, or Prechter say if price doesn't reflect it.
J. ABDELKADER
Allan - an earlier post you were expecting the market to drop end of last week or beginning this week. In this post you are still anticipating the floor falling from underneath this market. Do you have a revised timeframe as to when you are expecting this to happen? I'm in on SDS and getting slapped around and deciding whether to stay in or get out and get back in positions at a later time.
Scott
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