Tuesday, November 03, 2009

Next shorting opportunity

I think we are just a few hours away from the next good shorting opportunity. Above is the Russell 2000 hourly chart set up with the Advanced GET mechanical sell signal indicators. As the bottom oscillator gets closer to the zero line and as prices break down through the shown channel lines, both ATR and BWT should trigger Sells. That will be the time to Short the index.



Anonymous said...


What long ETF would you recommend for this trade? TZA?



A said...

Yes, TZA, or BGZ or the RUT November-Puts.

Anonymous said...

Both TZA and ERY have been sucking wind all day even as the market is down. Boy, you can't win sometimes.

Anonymous said...

Don't you think Warren Buffet know's market direction better than anyone? he is betting long.

A said...

Warren Buffet held 100% LONG from September 2007 through March 2009. During that period the markets fell 50%. Great timing, eh?

Anonymous said...

I'am short right now and not feeling confident about my position.
Thanks for the info on WB

Anonymous said...


Your short bias may be aided by Wed. rate decision/comments Wednesday.

At the same time, I'm a bit concerned that big money may be pushing up market into employment report Friday.

Love this blog man!

Lucky Luciano
Finally listened to your interview with 'traderinterviews'

You seem like a great guy that gets pleasure out of helping people make money.

Let me know when your ready to give away all your trade secrets! lol

Anonymous said...

Hi Allan,

Are you saying we won't get a bounce and just continue to fall from here?

I was hoping I can get some TZA cheaper...

Thanks! Great blog indeed.

Anonymous said...

I think w. Buffet do the right things. He put his money in companies. What`s up when all is going down. We have only paper, paper money. Sorry for my English!

T said...

Speaking of Warren Buffet,doesnt anyone here see the 'Game' that is being played. The government knows and has all the same elliott wave data the public has,plus they have all the insider knowledge the public isnt privy to.
For elliott wave to 'see' the end of the bear rally,and the first subwave of the great 'collapse' wave 3 down transpire last week,which was only the first subwave ...1 of 5 of (3)...(or Maybe its 1 of 5 of (1) of (5) of {{3}}...i.e. a LONG Way DOWN to go...
and to see that ominous beginning last week, looks like the government decided to play their warren buffet Ace card - a cute trick up their sleeve, to juice the market,a classic stick save,courtesy of the rigged game masters.and right at the full moon to reverse the downward wave action. what it does in elliott terms is to change the wave structure, from a completing 5 wave down ,which it looked about to do,and changing it to become a truncated wave,followed by the a-b-c which then became morphed into a new wave up as wave 1 and 2 of 5 going up. to continue the uptrend.
Thats what a stick save looks like.

If you look back at the september top ,coming down,you will see the same thing happened then... 3 sub waves a-b-c down and reversing at the full moon october 2.

rigged game engineering 101

Maybe,next time, they will trot out ...Bill Gates on december 1,
or santa claus himself.
I'm so curious to read the next elliott wave financial forecast and see how they explain away this last engineering play .
that keeps the rigged game going,stick save after stick save.

and even the photo they displayed of warren buffet at a card table playing cards...what a perfect signature.
to their ace up the sleeve trick.

and so now,we are supposed to rush all our life savings back into the rigged game....because 'the markets are going back up...up up and away'...we'll all be rich.
just following warren buffet's lead.

never ask -- what kind of backroom sweetheart deals does warren buffet get with the government.
never imagine that 'warren buffet's billions'are unrelated to the u.s. government.
People like him,his money,his influence, are integral parts of the government. I believe they never do anything without the support and cooperation of the government.acting in concert. Its all part of the rigged game that the little sheeple try to play along with.

Now you want to continue to believe that the 'True market principles', and elliott wave principles will somehow 'regain' their natural movement,and the wave action will adjust back to its true flow, and the wave 3 big down wave will commence as its destined to do.
and we can make the right play by entering Short at the right moment.

The more I watch this Rigged Game,the more I feel like just not playing anymore, but just sit on the sidelines with my cash.
and just watch the game.and count How Many !!?! aces the rigged game masters have up their sleeves.

to watch this rigged game,for the next 6 months,to see IF it is even possible to 'figure it out' well enough to play along and win.
In a deck of cards there are 4 aces.
How many aces does the government have up their sleeve. They just played one.

Anonymous said...

Mr. T
I am a young trader and I am a very different kind of person.
I am not a sheep...never was, never will be.
Sometimes, being whom I am, I walk the path of life alone.
I love this life and sometimes I feel like the song from the Beatles.." The Fool on the Hill"
To me, you make perfect sense.
It is a rigged game. How can this market do well with economy strangling the sheep!
And why are the sheep so damn numb?
All I know it is damn difficult to make money in this market.
I am not a seasoned trader. I am starting. I love to trade.
Just chose a hard time to start!
Wanted to comment on your post. I believe you are correct. This is a polluted Country and World we live in.
The people with all the money are the ones that create "THE WINDS OF CHANGE"

Money Talks and Bullshit Walks!

Anonymous said...

Buffet needs the SPX to stay above 1100. He sold long-term S&P 500 contracts.


Anonymous said...

Allan, has your system given a buy signal for TZA? Thanks a lot!

T said...

Find Peter Schiff's latest comments mentioning Buffet's latest play. He adds some understanding about the sense of the investment, but doesnt mention the concept I described,of course.

Schiff also talked about the Gold sell to India.

yes,Liam, this is a very difficult time to be a new investor.
My best advise is 1)...dont rush into anything.
2) start begging Allan to sell his trading system to us.