The GDP is not bad at all

The US economy dips only ~ 1 percent pace in 2Q, which may indicate the recession is near the end ?All the panic selling is gone, and may be all the buying will rush in as the dip comes ?

Some big bears will be totally burned out just like the burned out bulls last year ! What an amazing market !! it always has the crazy waves to redistribute the cash flows.

Anyway, the market mood is the key ! No panic, the bears will lost every penny !!

Please keep an eye on the daily patterns, make sure yesterday's intra-day bearish reversal down will not happen again today, which is pretty worry some for me as a bull !

The expected DOWN wave has not shown up yet in the daily chart, may be next Month. Crossing my fingers.

below is the chart of GDP history:
at 7/31/2009 09:44:00 AM

6 comments:

  1. TigerJuly 31, 2009 at 9:58 AM

    Very possible, today's range is still in the trap-zone, as marked last night.

    ReplyDelete
  2. TigerJuly 31, 2009 at 10:06 AM

    I have sold my last long position yesterday when my target 1995 is fulfilled. Waiting to buy back at the lows..

    ReplyDelete
  3. TechnicalAnalysisJuly 31, 2009 at 10:08 AM

    Thanks. I sold all my longs as well.

    ReplyDelete
  4. AnonymousJuly 31, 2009 at 10:28 AM

    The market may go higher again

    ReplyDelete
  5. AnonymousJuly 31, 2009 at 10:30 AM

    Do you have a guess when (or at what level) you will buy back?

    ReplyDelete
  6. TigerJuly 31, 2009 at 10:37 AM

    When the DOWN wave comes, The first target should be 1900. The second target should be 1880. So I will monitor the market development very closely. If today can not close as a big UP day, a DOWN trend is formed. Then it need more confirmations next week.

    ReplyDelete

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