Starting it off. I'll be quite busy over the next several weeks, so my time in here will be light and sporadic, but then hopefully in a month or so it will settle down, and I'll be able to do more. Monday is a holiday, but there will be some futures trading tomorrow, so we won't be without some fun.

Just woke up and taking a check. Loving the weakness. Can't wait to see if they gun it up on the 'retest', or if this is real weakness.

you mean, is it 'real' weakness or 'fake' weakness?

Originally posted by jimkane

Just woke up and taking a check. Loving the weakness. Can't wait to see if they gun it up on the 'retest', or if this is real weakness.

I can't tell if you are joking here or didn't understand what I meant, probably the former. But for those that aren't sure what I meant, and my overseas readers that may not get all the nuances with the language translation, nowadays there is more 'fakery' than I've ever seen. Before a move, small and large, they try to make it look the opposite, to suck more people in, I believe. So when I see excessive strength or weakness (but mostly weakness, there is a huge bias this way for this technique), I am always on red alert for it to do the opposite. Hence 'fake weakness'. They sell it down, gun it up a bit, then make it look excessively weak. That's the trap, the 'fake weakness'. Then they explode it up. 'Real' weakness (an upcoming sustained move) or 'fake' weakness (a trap).

Originally posted by rat89

you mean, is it 'real' weakness or 'fake' weakness?

Originally posted by jimkane

Just woke up and taking a check. Loving the weakness. Can't wait to see if they gun it up on the 'retest', or if this is real weakness.

I could tell you were joking

One thing is bothering me. Many, if not all the 'bloggers' and website guys I follow are all saying this is big. A big drop coming, or 'the big one'. Even roofer (and no I am not categorizing him with the others, so no one, and I mean no one, draw the wrong conclusions or take what I am saying as anything negative towards roofer, as it is not) is posting a lot of charts showing just where this thing is positioned. I am concerned that this is all out there now. Right in the January time period. It is beyond obvious. One guy, who was saying very loudly that the market is going way, way up spotted a pattern, and said it may come in a bit, but it's a critical spot. Now with all this downside, that's has morphed into a huge drop coming, and he's all over it. Another guy was saying how we are going way up, and now this is a big drop coming, or the bull is over. And on and on. Right, all these perma-bulls are going to nail the top dead on. Right. So, just something to ponder.

Close right at the low. I love it.

New low for the move in the short aftermarket session. I love it.