Pope Flick Posted May 9, 2010 Share Posted May 9, 2010 Bumping a post less than 12 hours after it's been made is exceedingly self important. It's not like it was on page 2 - it was probably 5th or 6th on page 1. Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted May 9, 2010 Share Posted May 9, 2010 Bumping a post less than 12 hours after it's been made is exceedingly self important. It's not like it was on page 2 - it was probably 5th or 6th on page 1. Â bump for Pope Quote Link to comment Share on other sites More sharing options...
JoJoTheWebToedBoy Posted May 9, 2010 Share Posted May 9, 2010 Bump....... Â Â And if you don't like it you can talk to the business end of my Knofe..... Quote Link to comment Share on other sites More sharing options...
Brentastic Posted May 10, 2010 Author Share Posted May 10, 2010 Let me just throw out a few price levels, that when broken, will confirm that wave 3 down has begun. Keep in mind, wave 3 is usually the most forceful wave, moving swiftly in it's motive trend (in this case down). So as I was saying yesterday, although it appears that wave 3 has started, it will only be confirmed when the DOW breaks 9835 and the S&P breaks 1044, but it's important to understand that both indicies must break these levels to confirm the wave 3. With that being said, I can say pretty confidentily that wave 3 has begun. The size and force of the selloff last week is consistent with primary degree motive waves. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted May 10, 2010 Share Posted May 10, 2010 FWIW, I also think we're in for some long-term pain. Looking at Greece, the rest of Europe, various state and locals in the US, and China, I just can't see how it WON'T happen. Those people in Greece won't give up a damn thing, and they're country is BROKE! They just expect Europe, the IMF, whomever to keep subsidizing them. Where does it end? With people starving, IMO, not in this country, but others, definitely. Â I don't know Elliot wave, and always have put my money in mutual funds because I really don't know any better. I'm just looking at objective conditions and can't really see much of a way out - at least not one that people worldwide will accept. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted May 10, 2010 Share Posted May 10, 2010 seems like this wave hit an eu sandbar Quote Link to comment Share on other sites More sharing options...
Brentastic Posted May 10, 2010 Author Share Posted May 10, 2010 (edited) seems like this wave hit an eu sandbar Are you talking about pre-open rally? Â E2A: or the EU stabilization package? Â Neither worries me. Edited May 10, 2010 by Brentastic Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted May 10, 2010 Share Posted May 10, 2010 Are you talking about pre-open rally? E2A: or the EU stabilization package?  Neither worries me.  His pessimism is unshakeable. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted May 10, 2010 Author Share Posted May 10, 2010 His pessimism is unshakeable. Â Seriously though, I don't have blinders on and if people look back more than 30 years, they would see what the market is capable of. This is not a market to be long in the long-run, that's for sure. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted May 10, 2010 Share Posted May 10, 2010 Â Seriously though, I don't have blinders on and if people look back more than 30 years, they would see what the market is capable of. This is not a market to be long in the long-run, that's for sure. Â Â im just f'ing with ya. im using this to get out of everything. Quote Link to comment Share on other sites More sharing options...
The Irish Doggy Posted May 10, 2010 Share Posted May 10, 2010 Is it time to move out of cash and back into stocks? Quote Link to comment Share on other sites More sharing options...
Brentastic Posted May 10, 2010 Author Share Posted May 10, 2010 Is it time to move out of cash and back into stocks? No F'in way, at least not in the long term. Maybe for a day or so - but I can't imagine being ballsy enough to jump in front of this moving train. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted May 10, 2010 Share Posted May 10, 2010 Is it time to move out of cash and back into stocks? Â Nice Quote Link to comment Share on other sites More sharing options...
Brentastic Posted May 10, 2010 Author Share Posted May 10, 2010 Â Nice Ok, he got me. What can I say Quote Link to comment Share on other sites More sharing options...
wiegie Posted May 10, 2010 Share Posted May 10, 2010 seems like this wave hit an eu sandbar uh, sorry, but according to Brent, the market does not move because of news--today's initial bounce is purely because of fractals Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted May 10, 2010 Share Posted May 10, 2010 uh, sorry, but according to Brent, the market does not move because of news--today's initial bounce is purely because of fractals That EU stabilization package is colossal but they still have to fix the fundamental issues across the whole continent to make it work. Quote Link to comment Share on other sites More sharing options...
The Irish Doggy Posted May 10, 2010 Share Posted May 10, 2010 Just having a little fun is all. And actually, I'm somewhat serious. Â I was talking to a friend of mine who works in one of the bigger financial firms this weekend. He told me how some of the account managers make moves based on what their clients call in and tell them to do. For the client, of course the manager does what he is told (if he can't talk them out of it), but for their whole managed portfolio, they do the opposite. The strategy makes money. Quote Link to comment Share on other sites More sharing options...
wiegie Posted May 10, 2010 Share Posted May 10, 2010 I was talking to a friend of mine who works in one of the bigger financial firms this weekend. He told me how some of the account managers make moves based on what their clients call in and tell them to do. For the client, of course the manager does what he is told (if he can't talk them out of it), but for their whole managed portfolio, they do the opposite. The strategy makes money. Some of my former students who work in the industry have told me the same thing. Quote Link to comment Share on other sites More sharing options...
keggerz Posted May 10, 2010 Share Posted May 10, 2010 Some of my former students who work in the industry have told me the same thing. how does the saying go? something like ..smart money is buying when everyone else is selling...or something like that Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted May 10, 2010 Share Posted May 10, 2010 So happy i moved everything out on Thursday. Quote Link to comment Share on other sites More sharing options...
MikesVikes Posted May 10, 2010 Share Posted May 10, 2010 Just having a little fun is all. And actually, I'm somewhat serious. I was talking to a friend of mine who works in one of the bigger financial firms this weekend. He told me how some of the account managers make moves based on what their clients call in and tell them to do. For the client, of course the manager does what he is told (if he can't talk them out of it), but for their whole managed portfolio, they do the opposite. The strategy makes money.  That's not bad. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted May 10, 2010 Author Share Posted May 10, 2010 uh, sorry, but according to Brent, the market does not move because of news--today's initial bounce is purely because of fractals That's not exactly right. In the short-term, the market can move based on news but not in the long run and it's not absolute like some believe. In a bull market, investors will use positive news to justify buying and vice versa in a bear market. It doesn't mean that there's not negative news in a bull market and vice versa. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted May 10, 2010 Author Share Posted May 10, 2010 So happy i moved everything out on Thursday. Stay patient, the suckers are buying and shorts from last week are taking profit. It will go down again soon enough. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted May 10, 2010 Share Posted May 10, 2010 Stay patient, the suckers are buying and shorts from last week are taking profit. It will go down again soon enough. Â And no matter how long it takes to go down, Brent will be there to say "I predicted this..." Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted May 10, 2010 Share Posted May 10, 2010 The rally we see this morning is basically due to a bailout of Greece by the EU and the IMF. My questions is do we know how much of that money is coming from the IMF? Do we know how much of the IMF money is coming from the USA? How do you feel about your tax dollars supporting some idiots that refuse to face reality? Quote Link to comment Share on other sites More sharing options...
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