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Sunday, October 13, 2013

Two hour cloud S&P

I took a position after lunch on Friday based on the 2 hr. cloud chart. This is a 'hunch' bet. Based on experience  and a gut feeling. As the saying goes just because I do something stupid does not mean you should. The whole of the wave shown had a 50% fib retrace,
then shot up for more than a 61.8% rebound (thats what i'm going to call it till early Monday morning) on a better than 2% day for the market as a whole. I looked at it as an low risk bear play.
As you can see it will not take much for this to go bullish,thus I will cover accordingly. As I'm proven often 'wrong' this may go bad quickly but alas I have a few long positions to make up for it.

Depending on how I feel I may not get to post much due to a bout with what seems like salmonella infection or a stomach virus (you get the picture). I find it very Interesting that the Debt debacle and the
'Soros" eclipse are lining up to be in the same time frame.  as always best wishes.

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