Who Else Sees a Dazed and Confused Long Interest? ~ The Risk Averse Alert

Monday, July 19, 2010

Who Else Sees a Dazed and Confused Long Interest?

Here is my best random video impression of tonight's Fast Money Word on the Street...

That's what I heard anyway. (Hat tip Nova Mirabel for her fine, fine Karen Finerman impression!)

Given sobering news after the bell it's hard to imagine tomorrow beginning anyway but soft...

OEX 5-min

Again, this seems a reasonable flavor of things to come. Wave (b) labeled above is the second in an (a)-(b)-(c)-(x)-(a)-(b)-(c) complex corrective wave forming wave (2).

Formation of this second wave (b) (beyond that shown above) might involve further sideways trading before wave (c) higher proceeds to end wave (2) ... which then could usher in a period of panic and a long interest at grave risk of early dementia: wave (3) of (C) d-o-w-n hard.

An Elliott "third wave of a third wave" (i.e. wave (3) of (C)) offers a spectacular show to those in the know.

And that you are.

(p.s. It stands to reason a complex corrective wave, such as wave (2) appears now to be, should precede panic. Such reveals strong hands maintaining capacity to continue their distribution as best they can.)

Fast Money
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