Saturday, October 18, 2008

Short ETFS 60 Min Charts Setting Up: These Are Very Bullish Patterns





whcih is obviously very bearish for the markets. I anticipate the biggest spike in volatility yet. You ain't seen nothing yet. VIX will be over 100 within two weeks.

5 comments:

Anonymous said...

The Dow chart looks a lot like it did in Oct/Nov 1929. If it unfolds the same way, we would see three more days down now, bottoming 8% below the current low. Breaking through the current low probably would bring the VIX up to 100. There's plenty of people thinking we put in a bottom on Thursday.

Stewie said...

yes agree 100%. cnbc is buzzing and singing happy bottom songs. they got a little surprise coming.

psy said...

thanks for the charts stewie. john at http://www.weeklyta.blogspot.com/
also pointed out a bear flag pattern in the dow. seems to me that a lot of 30 min charts are showing triangle patterns that will most likely breakdown soon. i would check out the Ag names for great short opportunities too

Stewie said...

thanks for that link Psy.

Jase said...

I recently found John's blog. Really good stuff he has.

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