Thursday, September 15, 2011

Free stock pick for 09/15/2011
Ivica at
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Dear traders,
I didn’t find much on daily charts for Thursday. It is hard to have strong bias when indices are in the daily/weekly whippy consolidation pattern with obviously divergence between strong QQQ and weaker DIA. I have some ideas on my list like : SANM, ULTA, WOR, VRA, WYNNTQNT for long setup and : GLW, WPI, ARE for short setup but I won’t give my hand in fire for them before I will see market open. Because of that if will be any interest there and if risk will be acceptable I will post setups on usual way. Only chart with trading plan is ILMN. It is same daily idea as yesterday and this time I post 60 min time frame. For interest ITMN must pull back from 20sma and if that will be case we want see good selling pace and volume what will confirm our expectations.
At this moment market is in high risk area for new setups, especially for swing setups and because of that I like to note that PATIENCE will be our good friend today and very possible tomorrow.
Wish you all good trading day
Kind regards

The Great American Economic Lie

You know, I mean, I, BELIEVE, BUT, this will never, NEVER, happen! It's the massive Head and Shoulders topping pattern in the DOW, in fact, it's on most, if not ALL, of them, "them", beind Da Udder Indexes. This is from a video that Bob Prechter has out, in his latest Theorist publication, it's free to free members. 
Numero Uno, and don't get me wrong, THE PATTERN IS THERE, but since when have they started letting patterns play out???!!! I mean, every body and their brother's uncle knows about this pattern, therefore, IT AIN'T GONNA HAPPEN!!
Numero Doce, there ain't no way in HELL, that the FED and Da Government will LET this happen! Those slimy Demicans and Republicrats in Washington will pull out ALL THE STOPS, before they let us crash like that!!!
And Numbero Trece, it CAN'T play out, hahahahaha, you measure the MOVE from the top of the head down to the neck line, and then subtract it, you get more number's than you can subtract from it, as it  measures the DOW falling to some thing like MINUS 1200!
I mean, I'd LOVE to see it happen, hahahahahaha, hell, even I'D be a buyer if the DOW fell to ZERO! Well, actually, I'd probably go all in at, ONE!
There's certainly no reason this SHOULDN'T happen, geeze, this is the worst NEGATIVE MACRO GENERATIONAL situation we've ever been in, sigh, I know just like the other 79 million Baby Boomer's looking to retire, I'd sell this thing at the drop of a fricking hat if it looks like it's going to start another one of those collapse's, like the two we've already had the past decade. 
I actually put a chart up a while back that reflects this type of situation, what makes a little more sense is to extend the NECK LINE out, and at some point we, MAY, touch it, it depends on the TIME FRAME for the next, AND LAST, decline, but I could see it going down to 5 grand, or some thing like that, of course, it ain't gonna happen tomorrow, I'd say that if we get lucky, and get rid of that, eeeeerrrrrrr, individual, that is in that Big House back in Washington, the guy that takes his place, or Woman, will do what the last two Presidents have done, and blame it all on his predecessor, and use it as an excuse to wipe the slate clean, reduce the size of the Federal Government, and go back to the Constitution and a form of Republic that we started with, getting rid of the Nazi Storm Trooper's created by that Homeland NON-Security outfit, and restore our individual rights by eliminating the NON-Patriot act. I'm looking at 2012 into maybe 2015, some thing like that, wad ever.    

Just kind of a doodling projection of that picture at the top, with the bottom trend line extended out, it's certainly not going to go straight down here, or when ever it starts, but 6,000 in 2013, HEY, you just NEVER know! If April was the TOP, and we get a real quick fall from grace like we had from October of 07' to March of 09', then we "could" bottom next September 28. 


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