Use access key #2 to skip to page content.

bothisellhigher (29.73)

Buy This Dip ?

Recs

17

June 05, 2010 – Comments (8) | RELATED TICKERS: TZA , BGZ , UUP

 I'm sure we'll hear how we can make a fortune by buying this dip, by diversifying our investments and hedging our trades with high dividend yielders...about how this is a mere road bump and that really, our economy is starting to heat up, all you little retail guys need to jump on board now.

Sadly, too many of us will.  Folks, what happened yesterday was not a dip instigated by the government's May jobs report-an unpleasant surprise for investors.  My ass!  Maybe our out of touch millionaire senators and congressmen were surprised...I'm sure the wealthy jerks at CNBC were surprised.  But those of us who still have jobs were certainly not surprised.  We have noticed how many "new hires" there are in the company.  None to one, that's how many.  We're all afraid the bell tolls for us next. 

And those of us who are still looking for a job...how surprised were you?  Not very, bless you and the best of luck to you...

What happened yesterday was not a dip.  Yesterday, The Dow Jones long term support of 10067 was penetrated and broken with a close of 9931.97...The S&P 500 support at 1070 was penetrated and broken with a close of 1064.88...and the Russell 2000 triple bottom support of 640 was penetrated and broken with a close of 633.97.  The probabilities strongly favor prices heading down.

Buy this Dip?  Not on your life, UNLESS it's long Bear ETF's like BGZ,TZA,FAZ etc.  My charts say eye opening surprises are on the way.  Nasty ones.

 

 

 

 

 

 

 

 

8 Comments – Post Your Own

#1) On June 05, 2010 at 11:15 AM, ragedmaximus (< 20) wrote:

i knew in november x steel was a buy but didnt go all in my loss once again cenx and x are a buy and will double over the next 6 months tuesday when i get my funds back im all in on cenx and i will be sitting on it til it goes back to 15-17 range and that's a fact ,for now cenx is in a down trend and when it starts going back up it will be trigger time! i could have doubled on x and i didnt pull the trigger but now i am fo sho  fools! have a great weekend 

Report this comment
#2) On June 05, 2010 at 12:21 PM, bothisellhigher (29.73) wrote:

Hey ragedmaximus, I guess you're not buying my charts...you are right about cenx and x being in downtrends though.  There appears to be plenty of time before pulling any triggers...good luck to you and have a great weekend yourself!

Report this comment
#3) On June 05, 2010 at 2:50 PM, binve (29.24) wrote:

Hey bothisellhigher! I am with you man (as you know) :) Thanks!

Report this comment
#4) On June 05, 2010 at 2:57 PM, ragedmaximus (< 20) wrote:

hey bothisell someone told me about friday and they said 8500-9000 was coming and i believe them and you so when cenx stops dropping like a rock and starts going up ill be in then

Report this comment
#5) On June 06, 2010 at 1:08 AM, bothisellhigher (29.73) wrote:

Binve the master...thank you for taking the time to comment!

Ragedmaximus...I love your name and...you are too much!  When it's your time to play with steel, I hope you make a fortune.

Report this comment
#6) On July 01, 2010 at 8:52 PM, jimmcross (< 20) wrote:

Its not july 1 and your were right.    Dow down  HUGE

 

Report this comment
#7) On July 01, 2010 at 8:53 PM, jimmcross (< 20) wrote:

i mean now its IS july 1

 

Report this comment
#8) On July 01, 2010 at 9:07 PM, ragedmaximus (< 20) wrote:

i bought x around 40 sold around 45 and have not touched it sice then i did make money in ery short etf last week and today. i find if the market is up 50 or more i buy the short etf and the next day or so it pays. for now im not long any stock. i like to leave 1 share of every stock i sell just to keep an ey on them and all my 1 share stocks are like down 25-35%

Report this comment

Featured Broker Partners


Advertisement