Friday, June 26, 2009

The one I keep on trying on

Take a look at DTG. This is one that will be ripe for the picking once the markets make a move. I have been trying to short this one for the past 3 weeks without much luck. Lucky for me the stops were easy to be managed so losses were minimal.

Once the time comes, this one will be going south FAST. I am still amazed it made it this far here.

5 comments:

  1. Afternoon Chris; not looking like we're going lower today...any thoughts; also, have heard th term "GS" in these message streams...what is that? Thanks....Steve

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  2. Yeah I am expecting more upside until Monday/Tuesday next week.

    GS = Goldman Sachs, the market manipulator =)

    There is an interesting article floating around on the web in regards to that. Great read - I'll look for the link later.

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  3. I heard today about it on msnbc. major allegation in rolling stone magazine. it may pick up some heat. bottom line every one is scared of GS --president, senators, congress, other banks etc. It is a god father of the world. they were able to get 100% plus profit from AIG--bilions.

    chris you are right not much on down side until July 1.

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  4. Thanks...sometimes we (I) overlook the obvious. Steve

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  5. yeap that rolling stones article. Google it for the link =)

    If we get back to the 930 range by tuesday. It will be a PERFECT case.

    1) end of month window dressing
    2) head/shoulder on the daily
    3) 5 minor waves up off the 888 low
    4) Completion of major wave 2 (888 low to 930 as a 61.8% retracement)
    5) spinning monthly candle (do not care of its red or green)

    As a result, we will get 2 strong monthly bars down completing a full 5 wave down move with an approximate target zone of anywhere from 780-741 by the end of august.

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