Friday 2 March 2012

Another Week Over

Not much to say right now, I am kinda tired (been compiling a large set of bullish contrarian charts), will post lots of them over the weekend! I am Permabear Doomster, but I do not want to get nuked, if the floor for IWM this Spring is only 76

A pretty bland, no-predictions chart, but we do have a conclusive bearish weekly candle to close the week. The 5 week long flat top has ended, and we are now in a downtrend. How long can that last? No ones knows, least of all, yours truly.

IWM first target (weekly cycle) the 10MA @ 79.25

Primary 'best case' near term bearish target remains: 76

More later. Good wishes

I'm in Love with the Downside

A particularly interesting video from Oscar Carboni, posted just a day ago. Even those who can't bear his usual loudness should at least watch the historical summary from 3mins onward. Also important to note, is his year end 'minimum target' of around sp'1540/70.

 So for the past decade, only 2010 showed a broadly higher month. It is interesting that it is often the case we see a VERY strong turn in mid-March - with last year being the ultimate turn at the 'Quake low', before a straight ramp into July. I am indeed in love with the downside. As a permabear..and as someone who has watched this casino wheel for many years, its the downside part where the true excitement is.

    a stop is 'sometimes' his best friend.