claydoctor

The "Bulls hope I am wrong" chart

Short
AMEX:IWM   iShares Russell 2000 ETF
4
Keeping this simple, the 2 previous charts, 2008 and 2011... Half way down to their eventual end, we are there now in this downturn. Both hit their long term trend supports, bounced a bit, and then, the chart masters yelled, hold on one minute,m that's not supposed to happen, and got caught going all in long, buying the almost correction level stocks and indexes, selling IN PANIC MODE, causing this 5 day historic drop. That MAY NOT HAPPEN, but that is HOW THAT HAPPENS if it does. THIS IS THE PERFECT SET UP FOR THIS. If Oil, which is also at a key support level, drops below $ 80 a barrell, IMO it will cause this. And so, I heard, Euro thinks it doesn't need to QE? FED Bullard says put off taper for now. He's worried now, when it was taper, taper, taper, we are strong enough. i could go on but I hear a lot of "hope" statements, and not a lot of we are really OK statements. That worries me. Yellen speaks, she is worried, trying to calm markets. This ebola thing scares me too. We have never had to take anything so seriously before, and they don't know how to do it. Touch learning as you go, learning on the job, when they are so slow to respond anyways, when lives are at stake? come on, Putin cuts off gas to Euro talk, and its getting colder folks. The can of worms is a deep one right now, and there's plenty to set this off. If any more gets added to the can, watch out. For me, buying TZA as it gets cheaper and cheaper. BUT, CAUTION, I ADMIT, COULD BE THE FOOL OF THE DAY HERE. The FED has made that happen a couple time before lately. Can they do it again? But if I am right? These opportunities don't come along that often, and I simply can't pass it up.
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