Absolute Traders - Re: ^PSEi

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#8986

dgca (User)

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Re: ^PSEi 12 Months ago

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if we base on your chart i'd say you should be dude... because looking at the bigger picture, it seems a diamond pattern is forming

QUOTE:
What's happening with the PSEi?

What we've got here is a break of the intermediate support with what could have been a falling wedge pattern in the making. Looking at the volume, we can see that the market is very volatile due to the economic concerns in the US.

Are you scared sh*t??

Well not me, looking at the bigger picture, we can see that our major uptrendline is still intact and although we are going down the past few weeks, look at how fast we went up from 2,874.99 to 3,803.54? Market is deemed to correct and we're lucky that the Philippine economy is not slowing down.

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#8989

mickymac (User)

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Re: ^PSEi 12 Months ago

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QUOTE:
if we base on your chart i'd say you should be dude... because looking at the bigger picture, it seems a diamond pattern is forming :(

What I saw was a broadening pattern dude, too early to say it's a diamond pattern yet. We're headed for a very volatile market dude, and right now looking at the intermediate trend we're on sideways. Don't be scared yet dude, there's no breakdown yet. Be scared when the breakdown occured dude....

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... there is only one side to the stock market; and it is not the bull side nor the bear side.... but the right side.

Excerpts from "Reminiscences of a Stock Operator"

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#8990

friend (User)

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Re: ^PSEi 12 Months ago

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"We're headed for a very volatile market dude"

that is why i chose to stay on the sidelines.....as entering any trade at the moment is too risky.....

QUOTE:
QUOTE:
if we base on your chart i'd say you should be dude... because looking at the bigger picture, it seems a diamond pattern is forming :(

What I saw was a broadening pattern dude, too early to say it's a diamond pattern yet. We're headed for a very volatile market dude, and right now looking at the intermediate trend we're on sideways. Don't be scared yet dude, there's no breakdown yet. Be scared when the breakdown occured dude....

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#8993

dgca (User)

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Re: ^PSEi 12 Months ago

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please see traderpinoy's reply

QUOTE:
Don't be scared yet dude, there's no breakdown yet. Be scared when the breakdown occured dude....

you just re stated what my statement (please see phrases in bold) clearly implied.

QUOTE:
What I saw was a broadening pattern dude, too early to say it's a diamond pattern yet.

QUOTE:
... because looking at the bigger picture, it seems a diamond pattern is forming :(

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#8996

friend (User)

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Re: ^PSEi 12 Months ago	Karma: 0
http://www.cnbc.com/id/21977516 ========================================= Roubini, who is calling for a recession of greater length and severity of those of 2001 and 2002, says there’s a suckers rally in stocks because investors believe the ”Fed is going to be able to able to rescue the economy,” =========================================