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A Stock Market Crash is coming!

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 A Stock Market Crash is coming!
Unread 4 years agoclass of '07 - away - #161
BigL139  space
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o7media said:
One more thing I should add....

For the people who think Gold and Silver are the best investments ever, you're wrong. Do not buy it. I'm gonna tell you why using Gold as an example...

First off, Gold is a BACKING to the USD. The USD is king. Gold can never be a primary currency because of the fact it's a limited resource. Gold can not support a population of this size that is growing.

You won't be able to go into a Wal-Mart and buy your groceries with a chunk of Gold...

The problem is, if Gold skyrockets to $10,000 an ounce like some dumb a.ss analysts predict then the USD will be completely worthless....

Now how are you going to buy Gold with a useless currency? What sane person will take a worthless piece of paper (USD) in exchange for Gold which is the new currency? Then they'll be stuck with something that is devaluing by the second.

The only other option is to go back to the barter system and trade for Gold. But that's not realistic at all. And since today everything runs on credit it's even more impossible.

It's not possible at all. If the Dollar devalues to that point we will be in the ranks of Zimbabwe.

FYI gold is NOT A BACKING for the dollar at all...Nixon took us totally off the gold standard but even before then when our CRIMINAL Central Bank (Federal Reserve) was enacted in 1913, the jewish criminals no longer needed backing of any kind except interest bearing treasury bills to completely enslave us...The federal reserve needs no backing because it has a license to issue as much counterfeit currency as it pleases ...but I do agree gold is not a good buy.......better to invest in GUNS AND FAST
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Unread 4 years agoclass of '08 - away - #162
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deneye said:
what do you think of BofA stock? will the government allow them to fail, or will they be bought out? and how do you think they would do in the future?

I don't think they'd be allowed to fail, but the stock is still a bad investment right now. But, if the markets do crash, banks will probably bounce back first IMO because of how bad they've been beaten down already.

MeziaaL said:
Whoever thinks the American stock market is strong has their head buried in the sand. Fundamentally, an economy without a sound currency, high savings rate and strong manufacturing base and productivity is bound to fail regardless.


BigL139 said:
FYI gold is NOT A BACKING for the dollar at all...Nixon took us totally off the gold standard but even before then when our CRIMINAL Central Bank (Federal Reserve) was enacted in 1913, the jewish criminals no longer needed backing of any kind except interest bearing treasury bills to completely enslave us...The federal reserve needs no backing because it has a license to issue as much counterfeit currency as it pleases ...but I do agree gold is not a good buy.......better to invest in GUNS AND FAST
That's true, there is no Gold standard anymore. I probably mis worded that, but the USD and Gold still have an inverse relationship regardless of the standard or not.
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Unread 4 years agoclass of '08 - away - #163
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I believe the top is in for the markets. A big big drop is coming tomorrow IMO.

I plan on buying SPY puts (next week's weekly's) today before the close. Probably the 124x strike, maybe the 123x depending on where we close.

But we should close flat today with a doji on the daily.
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Unread 4 years agoclass of '08 - away - #164
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Ok I bought SPY 124x (next week's expiry) puts at 1.40.... Holding overnight.
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Unread 4 years agoclass of '08 - away - #165
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o7media said:

But we should close flat today with a doji on the daily.

Markets closed flat, as predicted. Slightly lower than expected. No doji on the daily, but a spinning top which is just as bearish if not more.

My puts I bought at 1.40 closed at about 1.48. So up just a little on them, about 5%...

Waiting for the big sell off tomorrow (hopefully if I'm right)
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Unread 4 years agoclass of '08 - away - #166
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Also I should mention tomorrow I'm looking for a close below 1208 S&P. We closed at 1244 today. So I'm looking at about a 40 handle drop tomorrow (close between 1200 - 1208)
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Unread 4 years agoclass of '08 - away - #167
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o7media said:
Markets closed flat, as predicted. Slightly lower than expected. No doji on the daily, but a spinning top which is just as bearish if not more.

My puts I bought at 1.40 closed at about 1.48. So up just a little on them, about 5%...

Waiting for the big sell off tomorrow (hopefully if I'm right)
Actually the puts finished at 1.53 after the AH movement was over. So up 9.3% so far.
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Unread 4 years agoclass of '10 - away - #168
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The only thing that may bring the markets down is the jobs report in the morning. I heard the whisper number is above expectations and we'll end up rallying. I will look into the SPY options chain pre market and position myself then.
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Unread 4 years agoclass of '08 - away - #169
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iNsane said:
The only thing that may bring the markets down is the jobs report in the morning. I heard the whisper number is above expectations and we'll end up rallying. I will look into the SPY options chain pre market and position myself then.
I only play charts, I don't pay attention to data or news because it's only short term, a drop in the bucket.

And to be honest, and a lot of people don't agree with me on this, but we're all just pawns in the big boys games. News/data is known before hand to the big guys.

But we can sell off on good data and rally on bad data ...it happens all the time, that's why it's unreliable. Gotta stick to charts to be successful IMO.


[pic - click to view]

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Unread 4 years agoclass of '10 - away - #170
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o7media said:
I only play charts, I don't pay attention to data or news because it's only short term, a drop in the bucket.

And to be honest, and a lot of people don't agree with me on this, but we're all just pawns in the big boys games. News/data is known before hand to the big guys.

But we can sell off on good data and rally on bad data ...it happens all the time, that's why it's unreliable. Gotta stick to charts to be successful IMO.


[pic - click to view]

No I understand what you're saying. I pay attention to charts all the time but let's say markets don't sell off? What if the pattern you're showing on the chart doesn't execute? Is it simply considered invalid?

Last edited by Ambassador; 12-01-2011 at 09:10 PM..
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Unread 4 years agoclass of '06 - away - #171
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Actually interested to see where we go from here....we're at resistance but tough to say since we didn't break through we won't in my opinion. The chart does suggest we should head down but we're at a point right now where its not concrete (macd makes me question heading down also....when we were hitting this resistance before macd was positive and looking to be heading down and now has went negative and has turned up and crossed). Another thing is the wave theory I posted a few Weeks back...now it didn't pan out within the time frame suggested but it did seem to bounce around point b which would suggest the bulls take us to point c and then tanks...again I've never really used wave theory and my knowledge is limited using it just have heard good things about it and have been watching to see how it plays out and the accuracy of it


[pic - click to view]


Last edited by philly337; 12-02-2011 at 05:10 AM..
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Unread 4 years agoclass of '08 - away - #172
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iNsane said:
No I understand what you're saying. I pay attention to charts all the time but let's say markets don't sell off? What if the pattern you're showing on the chart doesn't execute? Is it simply considered invalid?
No those trend lines will still exist, but the markets will go to the next resistance level.

If a H&S pattern fails to break its neckline then yes it's considered invalid.
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Unread 4 years agoclass of '08 - away - #173
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lol unemployment rate in november at 8.6% ..GTFOH

the estimate was still 9%...this was way better than expected, but futures are dropping.
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Unread 4 years agoclass of '08 - away - #174
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In GLD 170x weekly puts at .38 (today's expiry) ...as a lotto play really.
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Unread 4 years agoclass of '08 - away - #175
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o7media said:
In GLD 170x weekly puts at .38 (today's expiry) ...as a lotto play really.
Sold at .63 for a 65.8% profit :dancingcool:
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Unread 4 years agoclass of '08 - away - #176
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o7media said:
Sold at .63 for a 65.8% profit :dancingcool:
damn GLD fell hard. puts got to almost .80 .. would have been up 110% ..oh well, not complaining.
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Unread 4 years agoclass of '05 - away - #177
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o7media said:
I don't think they'd be allowed to fail, but the stock is still a bad investment right now. But, if the markets do crash, banks will probably bounce back first IMO because of how bad they've been beaten down already.







That's true, there is no Gold standard anymore. I probably mis worded that, but the USD and Gold still have an inverse relationship regardless of the standard or not.
Gold has been completely disassociated from the dollar since 1971. The only relationship between the two is that when the dollar falls in value the Gold gains in value and vice versa.
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Unread 4 years agoclass of '06 - away - #178
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.....

Last edited by philly337; 12-02-2011 at 11:09 AM..
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Unread 4 years agoclass of '08 - away - #179
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MeziaaL said:
Gold has been completely disassociated from the dollar since 1971. The only relationship between the two is that when the dollar falls in value the Gold gains in value and vice versa.

[pic - click to view]





...that's what i said, inverse relationship.
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Unread 4 years agoclass of '11 - away - #180
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07 gotta say I jumped on ATTH at .15
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