How's That Recovery Comin?

[wiphan]

Originally Posted by jms62

This New World Economy is Great. Middle class in India and China are expanding and the Top 1% in US is expanding. They have gamed the system and have put this country in checkmate.

Nasdaq 200 Day MA is 2623. I bet we see it in the next 2 days.

What you saw was the Dead Cat Bounce, watch the market start to deteriorate....

[jms62]

Originally Posted by wiphan

What you saw was the Dead Cat Bounce, watch the market start to deteriorate....

I've been short via ETF's since Week of March 7 when Nasdaq Weekly MACD turned negative. Just getting my head above water the last 2 weeks... 200 Day average coming up shortly on both COMP and SPX, you usually see a bounce. Interesting to see how this afternoon will play out given that it is the summer.. If you see a recovery I'd be extremely worried as it is a setup.

[randallscott35]

Originally Posted by jms62

I've been short via ETF's since Week of March 7 when Nasdaq Weekly MACD turned negative. Just getting my head above water the last 2 weeks... 200 Day average coming up shortly on both COMP and SPX, you usually see a bounce. Interesting to see how this afternoon will play out given that it is the summer.. If you see a recovery I'd be extremely worried as it is a setup.

There never was a recovery. Asset prices driven up by funny money. 45 million on food stamps and getting worse daily.

[jms62]

Originally Posted by randallscott35

There never was a recovery. Asset prices driven up by funny money. 45 million on food stamps and getting worse daily.

Dude.... I'm talking technical Bounce off preceived MA Support not a recovery.. I certainly will not be a buyer of any bounce until Weekly trend turns around..

[randallscott35]

Originally Posted by jms62

Dude.... I'm talking technical Bounce off preceived MA Support not a recovery.. I certainly will not be a buyer of any bounce until Weekly trend turns around..

Got you...

[jms62]

Originally Posted by randallscott35

Got you...

And from what I am seeing it seems China Market is looking like a big ponzi scam. Racked by crooked accounting... They may be in for a world of hurt as they were considered a safe haven.. Many brokerages have put a policy of no margin trading on their stocks trading here.