Wednesday, July 21, 2010

yesterday's move

Yesterday, the markets moved a bit higher which was a surprise. Once again, be patient! The markets are positioned still to begin wave 3 down. Check the stochastics and the MACD for the Dow industrials and the Naz;, they all are pointing down. The move is imminent. I have also just finished a book called "The Big Short" by Michael Lewis which clearly explained what happened when the housing market collapsed. Only a very few acted when they saw it coming. They did not follow the herd, everyone on Wall Street thought they were crazy when they started making bets against the decline. At this time, Wall Street is just beginning to fear a stock market meltdown and are looking at ways to protect themselves. My strategy is to short the stock market so that when it falls, I will be prepared. By the way, Ireland is a great place to visit, it's not just the beautiful scenery, but it's beautiful people. They have been very friendly and helpful.

No comments:

Post a Comment