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JI
jimkane
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Okay, is that 'retest' it, and now up, or will it do as I mentioned, just hang around the floor? We shall see.
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jimkane
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The most key thing I've seen today is that the high-flying momo stocks (like PCLN, for example) are getting monkey-hammered big time. Is this the sign I've been waiting for? I hope so, but I doubt it. One new theory I have (based on the layout we have now) has this going down to say 1600-1620 area, then up to new highs, then totally done (bear market). If that happened into Jan 2014 that would hit multiple other timing factors. But, I'd prefer it to be done at this obvious 3D. That's why I suspect after it 'looks done' it will have another leg up, then it will be done. One last big sucker job. And the momentum for that last push could be a resolution to the political theater we are witnessing now.
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jimkane
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Watch the potential bearish ABCD here with an ABCD in the BC leg. I doubt it will stop it, but I'm watching, in case.
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jimkane
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It sure 'sees' that ABCD, and is acting like it's about to roll over hard. This is fun stuff. Fake down and then blast up? It should stay on the floor based on that one theory.
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jimkane
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I suspect right back to the lows. In 'the new old days' (up until just recently) this would simply explode up at this point.
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jimkane
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Interesting article, but I'm mostly posting it as a reference for this one quote.
"Iceland went through a similar deflationary event to that risked in the US today when its banking system collapsed and the currency halved overnight."
Now, wait, during a deflation their currency got cut in half? No, hold up, wait, all I've ever heard is that during a deflation cash is king, it's super rare, and its buying power increases. Yeah, uh-huh, that's what really happens in the real world. My money gets me more stuff. Uh-huh. Deflation and less buying power. Makes sense.
http://www.zerohedge.com/news/2013-10-12/gold-debt-ceiling-and-fed
"Iceland went through a similar deflationary event to that risked in the US today when its banking system collapsed and the currency halved overnight."
Now, wait, during a deflation their currency got cut in half? No, hold up, wait, all I've ever heard is that during a deflation cash is king, it's super rare, and its buying power increases. Yeah, uh-huh, that's what really happens in the real world. My money gets me more stuff. Uh-huh. Deflation and less buying power. Makes sense.
http://www.zerohedge.com/news/2013-10-12/gold-debt-ceiling-and-fed