Wednesday, May 26, 2010

Here comes the Bear...

[This is a prop when well deserved to Brandt from who was spot on lately with his proprietary 3c indicator
Credits where credit is due – hat off buddy! DavidDT]

Here comes the Bear...
Again 3C had some excellent insight into the market. Last night at Wolf on Wall Street I posted the following,

"I would continue to hold the longs. I WOULD NOT ADD to them. Remember, this is a correction, not a bull market move. Smart money is selling into it and soon you too should be selling in pieces, taking some profits off the table. Do not get greedy and hold too long. We should see the reversal in 3C, but I do not know if they did the same as we did and set up a larger core short position, if they did, then the change in the uptrend could come very quickly."
And it did! Today at 2:07 we closed all longs at an additional profit. I also posted 9 and went short 6 stocks. There will be more posted as they arise, but the 6 form a core position that gives us a wide array of bearish market exposure. 
3C also had a great call this am at 10:50-see the post below-we got a nice correction from there. Then another post below around 2:08, a tiny bit earlier at Wolf on Wall Street, that we were taking profits and established shorts from there.
The charts below, which were posted at Wolf on Wall Street depict very clearly the reason for both 3C calls today, the a.m. and p.m. call.

It looks like we are now dealing with a Broadening top, the next break below important support should not be a shakeout as the last ones were, I think it will be the real deal and it won't be pretty, nor will it be a correction. Our downside target is significant and these bear moves are fast and far reaching. 
If you want the analysis, ideas, and insight into how the market really works, not from a book, but from real evidence for you to see for yourself, check out becoming a member of Wolf on Wall Street. Get insight like the post above from last night at WOWS when it really mattered and could be of use to you. 
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For instance, how much time do you spend analyzing the market as compared to analyzing stocks? Do you know that the greatest gravitational pull on any stock you choose will be the market's direction and trend? And in second place is the Industry Group. the actual stock has the least to do with a successful trade, yet most people spend most of their time analyzing stocks. This is the kind of insight you will gain at Wolf on Wall Street. Interested? Click this link to get started.


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