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Topic: 'the big short' (Read 416 times) previous topic - next topic

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  • sn00p 
  • [*][*][*][*]
'the big short'
I hope for everyone that this wavecount is wrong

I would rather us be wrong than the world dive into chaos while we are already on the brink

Is my chart wrong? Is there a way to stop this using looper / butterfly effect logic?

https://www.tradingview.com/chart/SPY/18x3Buu9-The-big-short/

Please advise

xoxo

snoop




  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: 'the big short'
Reply #1
I hope for everyone that this wavecount is wrong

I would rather us be wrong than the world dive into chaos while we are already on the brink

Is my chart wrong? Is there a way to stop this using looper / butterfly effect logic?

https://www.tradingview.com/chart/SPY/18x3Buu9-The-big-short/

Please advise

xoxo

snoop




A lot of variables to consider. The unforeseeable comments by a politician, loss of confidence like Europe's Composite PMI plunging, trade wars, possible world war looming....

Charts are psychology and math. If I had to bet on the outcome I see a plunge ahead. Your  chart may be spot on. We will see. All we can do is wait.

Re: 'the big short'
Reply #2
I hope for everyone that this wavecount is wrong

I would rather us be wrong than the world dive into chaos while we are already on the brink

Is my chart wrong? Is there a way to stop this using looper / butterfly effect logic?

https://www.tradingview.com/chart/SPY/18x3Buu9-The-big-short/

Please advise

xoxo

snoop





Snoop, I see a big drop in the wealth represented by the stock market, but that does not mean the market goes down measured by the elastic dollar yardstick. If the dollar loses value faster than the Dow for example, the wealth held within the Dow would go down while the dollar value went up. The hideous part is selling would result in less wealth for someone, but they would have a dollar gain that is taxed. I support indexed capital gains taxation for that reason.
As a side note, Trump is doing a lot of good but on symptoms and not the real issue. Our problem, one that accelerated with Nixon removing the last of the dollar gold standard, is spending more than we tax. The shortfall has been made up with ever increasing debt, debt that now exceeds the ability to be marketed into the private economy. That is why the fed printed  money to buy treasuries and government sponsored entity debt, or mortgage backed securities. It is a ponzie classic scheme that might have reached its endpoint, not physically, but via recognition by enough people that the printed money has no value other than the value stolen from existing dollar denominated assets. Physical endpoint would be obvious via hyperinflation.
The only cure to our economic problems is to tax more than we spend and the only way to do that is cut federal spending. The reason is federal spending is nearly 100% consumption and consumption consumes the wealth needed to invest in wealth building ventures. Right now, we are spending more than we earn as a nation. Result, standard of living decreases or shortfall is made up with debt until debt service plus shortfall exceed ability to borrow and then standard of living decreases in a real ugly manner. We did not  properly address the issue under Johnson and Nixon presidencies and every one since by balancing the budget, so now we pay the price.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: 'the big short'
Reply #3
I see wheat ranging here.

I think the SPX could hit 2400
For Entertainment Purposes Only.

  • sn00p 
  • [*][*][*][*]
Re: 'the big short'
Reply #4


im scared

Re: 'the big short'
Reply #5
looks like another SPY bear flag has been painted, look out below:


Re: 'the big short'
Reply #6
Over yesterday and today, I have taken a long position in April $240 SPY puts for net cost of $655. I hate taking a position going against my country's success, but it is looking like we could see a major drop in the general market over the next two weeks.