Comments on: Market Update - 23 July 2008 http://www.celestialoptions.com/blog/2008/07/market-update-23-july-2008-2/ Daily Market Update, Tips and Strategies on Options Tue, 06 Jan 2009 05:45:24 +0000 http://wordpress.org/?v=2.5.1 By: Foong http://www.celestialoptions.com/blog/2008/07/market-update-23-july-2008-2/#comment-81 Foong Thu, 24 Jul 2008 11:40:50 +0000 http://www.celestialoptions.com/blog/?p=138#comment-81 GREAT comment, Richard. Thank you for your giving us your market insights. You and I hold the same viewpoint on the direction of the markets and investment philosophy. streetTRACKS Gold Trust Shares (GLD) is another ETF that is good for trading. GREAT comment, Richard. Thank you for your giving us your market insights. You and I hold the same viewpoint on the direction of the markets and investment philosophy. streetTRACKS Gold Trust Shares (GLD) is another ETF that is good for trading.

]]> By: Richard http://www.celestialoptions.com/blog/2008/07/market-update-23-july-2008-2/#comment-80 Richard Wed, 23 Jul 2008 18:27:24 +0000 http://www.celestialoptions.com/blog/?p=138#comment-80 Thanks for your chart and comments. The Russell 2000, flew 2.5% through resistance at 70 to close at 71.47. This is just short of 72.50 -- a pivotal point for the Russell 2000 that goes back to October 2, 2006, where a broadening top pattern formed. Street Authority relates: "When you see a broadeing top, the market will eventually drop". Said in a conservative way: the Russell 2000 at 72.50 is now at strong support; that which was once strong support will now be resistance. Said in a contemporary and more fitting way: now that the Russell 2000, $RUT, has once again risen up to the apex of its broadening top pattern, it will once again fall. We live in a time of awesome financial waves. The wave that is coming immediately is going to literally sweep these small US based companies off the map as they are highly dependent upon a dysfunctional and broken credit and lending system. I recommend that one go short the markets via Proshares 200% bear market ETFs which were oversold as seen in the following percentage losses for the last five days: SKF Financial -30% SRS Real Estate -20% SJF Russell 1000 Value -16% FXP China -16% SCC Consumer Services -13% Google Comparative Chart DXD Dow 30 -12% TLL Telecommunications -7% RXD Health Care -3% SSG Semiconductors +2% TBT US Treasuries +3% Or even better yet, dollar cost average buy gold during its current dip as it really is in an Elliott Wave 3 up breakout. My investment maxim is: "In a bull market be a bull; in a bear market be a bear. In a bull market, one buys on dips; in a bear market, one sells into strength". Thanks for your chart and comments.

The Russell 2000, flew 2.5% through resistance at 70 to close at 71.47.

This is just short of 72.50 — a pivotal point for the Russell 2000 that goes back to October 2, 2006, where a broadening top pattern formed. Street Authority relates: “When you see a broadeing top, the market will eventually drop”.

Said in a conservative way: the Russell 2000 at 72.50 is now at strong support; that which was once strong support will now be resistance.

Said in a contemporary and more fitting way: now that the Russell 2000, $RUT, has once again risen up to the apex of its broadening top pattern, it will once again fall.

We live in a time of awesome financial waves. The wave that is coming immediately is going to literally sweep these small US based companies off the map as they are highly dependent upon a dysfunctional and broken credit and lending system.

I recommend that one go short the markets via Proshares 200% bear market ETFs which were oversold as seen in the following percentage losses for the last five days:
SKF Financial -30%
SRS Real Estate -20%
SJF Russell 1000 Value -16%
FXP China -16%
SCC Consumer Services -13%
Google Comparative Chart
DXD Dow 30 -12%
TLL Telecommunications -7%
RXD Health Care -3%
SSG Semiconductors +2%
TBT US Treasuries +3%

Or even better yet, dollar cost average buy gold during its current dip as it really is in an Elliott Wave 3 up breakout.

My investment maxim is: “In a bull market be a bull; in a bear market be a bear. In a bull market, one buys on dips; in a bear market, one sells into strength”.

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