Around 3:18PM EST CNBS brought about our mutual friend Bob Prechter with his eternal forecast of gloom and doom (not to overlook his amazing tact of repeating that he was right quite a few times…may be 3 or even 4…out of thousand times he attempted to predict market movements)
As always, we heard all the same, “Pee on Tree” A.K.A. “EW P3” has started … again… has started again..yes…has started..ah-ha, definitely, but this is beyond the point I’d like to make.
From the moment of interview started till market close Sue and all dimwits so called “plug a holes in flowed logic” kept saying the same phrase (how degenerate or corrupt or just nobody that teleprompter must be…):
“Market started to go down after Bob spooked it with his ridiculous predictions, market was just fine before that, screw all the bears, market would be fine if not bears” – you get the point, N'est-ce pas?
So, let see if any of that holds water (not even reminding TTWers’ projections for Monday/Tuesday)
Here is a chart of ($SPX) where you may clearly see that around 1:50PM EST Sell Setup has completed and was perfected on the very next bar. Market started to slide immediately.
Right at the time of Bobby’s mumbling (yellow rectangle around that bar) market stabilized, and stayed totally flat all through that mumbling and some time after it ended as well.
So, the answer I’d like to know:
“How is it possible for any corporation to honestly make a buck when idiots are in charge, idiots work there, and idiots consume products of these needless corporation? The answer is simple – fraud, lies, machinations, workers abuse – because in spite of the fact that idiots are glad to pay for crap on all levels the only way they have money to pay is that they were GIVEN this money for nothing because idiots do not produce anything and don’t deserve to be paid.
The music is stopping for free money and for a lot of other things as well, might have already stopped …
Watch out…idiots…
