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Market correction - min. 20% TOP40

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Valued Contributor
expected as bad a word, I with skaap, who cares about Argentina ?!
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Not applicable
well, in the days gone by we would have worried about them - because of the 'Emerging Market Contagion' phenomenon (remember that one from the nineties?). Those were the days when all emerging markets got painted with the same brush. But markets are way more sophisticated now.
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Super Contributor
well, lets agree the DOW wiped all gains for the year last nite becos of Argentina...I am still long the ALSI daily and weekly and now 15 minute...i trade charts , not news...
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Valued Contributor
no I don't agree that "DOW wiped all gains for the year last nite becos of Argentina" .. I would agree that "DOW wiped all gains for the year last nite" ..
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Super Contributor
Eish Simon, are you in a bad mood today,,more coffee perhaps?
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Valued Contributor
no it is the difference between fact and opinion .. one is true the other is useless ..
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Frequent Contributor
Ok Rams lets make a deal. You tell me when to buy and sell the Alsi and I will give you 75% of my profits, Off course you take the losses.Let me know if you want my contact details.
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Super Contributor
well, you want my help,so on my terms: if you take all the losses, you can keep 100% of the profits...
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Super Contributor
but seriously, the 7/21 system gives the buy and sell on any time frame for ALSI...if you get the money management and discipline right,you be fine
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Super Contributor
How markets can move quickly?
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Super Contributor
I think we are just seeing a dead cat bounce today.The daily charts are generally oversold causing this relief rally but the weekly and monthly charts are pointing to more downside in my view.
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Super Contributor
Do have a position open at the moment?
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Super Contributor
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Super Contributor
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Super Contributor
i dis-agree...though there were other issues,i still think last weeks response was a knee jerk response to Argentina, and Argentina i agree not a big player, so we going nowhere for a little longer...
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Super Contributor
I just think that because alsh,topi,dj-ind,sp500, have all broken fairly strong supports and are just bouncing back towards that level (now resistance). If they don't break through they could all come down quite sharply again. Also the negative divergences on the weekly and monthly charts.
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Super Contributor
the fact that they came back means we going sideways for some time ...its there on the chart: range bound about 45000-47000(TOP 40 daily)
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Super Contributor
Could the Dow be in danger of breaching its 200 days Moving Average (16334)? The Dow has touch and bounce off its 200 days MA twice in the past year. However, the S&P 500 still looks safe from its 200 Days MA (1860)for now.
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Super Contributor
And ALSI touches 200 EMA around 42000
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Highlighted
Super Contributor
Really Rams... then you better hold on until 42 000.
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