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Excellent trade, Carl.
Excellent as always Carl - good thing you closed out before the bell - a bit of movement on the downside with the rise in the Fed discount rate.I am seeing this as a bullish sign.All the best - MK
Carl, the Fed just raised interest rates, and the markets are not happy after-hours. Does this affect your outlook in the near and longer term?
Nice work Carl.Folks, don't look now, but futures are down pretty good thanks to the fed's announcement to increase the discount rate by 25 bps. For all you EW follwers, this happened on the eve in which it believed we saw the culmination of a 5th wave of a larger Wave II retracement. Coincidentally, the market topped after almost kissing the 50 DMA and making a 61.8% retracement. Per EW and McHugh, both are looking for the decline of Wave III to take is into the 975 range or so. I don't intend to do much until we break the lower end of the hourly trend line which is around 1083. I suspect Carl might have to abandon his upward bias if this bottom trend line gets taken out. For now, no worries as this decline could simply be some profit taking. Jeff As of this writing, the S&P futures are down 9 points.
Jeff, I'm still willing to bet you one copy of carl's book that the market will make new highs by monday.
Jeff are you going to send me a book or not? In you are a man of your word you will send me a copy to: GA, Box 4371, St Augustine, FL 32085-4371.If you plan of reneging I suggest you cease posting permanently!
Yeah Jeff, At the very least, own up and tell us that you can't get us the books because you got a margin call and were liquidated... or tell us that your dad didn't give you your allowance yet. Pay up, give an explanation - or listen to GA above.
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