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Stocks selling off as our short positions kicking into gear. Is this the top? I’m not sure yet, so let’s book some profits in SPX and then reassess with some extra jingle in our accounts. New shorts in XOM as crude inventories disappoint sending crude lower.
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This is an exclusive, members-only webinar that takes a deep dive into our current positions, potential trade setups, our trading methodologies, and have all of your questions and comments addressed!
You might want to check with Bob Prechter, He has a different opinion of the Dow than you do.
Hi Lee,
I’ve addressed this many many times in the last few weeks in the member videos. Please try to keep up with the videos. Bob and I have discussed this in the past. As you will see, we are positioned in the markets for a triangle followed by one more high before the collapse comes. In our current option positions we’ll make money under this situation. If I’m wrong and we’ve already seen the top, there is PLENTY of downside room to adjust and ride the down trend. Oh, and we’ll also make money with our current positions as we;;, just not as much if we were outright short. I’m less aggressively positioned short right now out of an abundance of caution fighting this historic bull trend. We are much more nimble and can change our position in 5 minutes at TradingAnalysis. Bob is followed by bigger, slower money that is not as nimble as we are. Make sense?
TG.
Greetings, great youtube videos of the family, keep it up! Question on you thoughts on long term crude, longer term i am looking as this move up from Jan 2016 as a wave 4 channel of a bigger C. You are calling wave C complete. Can you explain your thoughts on timing of wave 2 of C(started oct 2011 to aug 2013)(22 months). It isn’t symetrical (timed) to the wave 4 you have charted from march to May ( 3 months). If we are in a bigger wave C, i keep looking for the final wave down below 25.
Can you tell me your thoughts on timing of wave 2 to 4. Thanks, Nathan Huinink