Yes I agree, Comments like that 900-1000 point drops are distracting and quite honestly unnecessary. Who cares if that happens or not ? The best profits in investing are made when we dodge a major downturn like last 10 months. Any "predictions" from here have to be objective. Last year, Matt and Steve laid out amazing grounds like NAHL / wide ribbons on monthly etc. Not even one analyst out there noted these. But now we dont have any objective signs like that to be able to predict. 

    I don’t think it’s unnecessary-

    Posted by anjali25 on 12th of Aug 2022 at 04:50 pm

    I don’t think it’s unnecessary- I wasn’t a sub then but for the short from 4637 to 3637 as  predicted then it could be played short - additionally could be used to protect portfolio as well- those growth stock were down around 30-40% for me at around 4637 - would have still been a loss but a much smaller one than the 70% down that they reached in June at 3637

    so there is huge value in knowing that is a possibility again !!!

    I know that I stayed exclusively long till 4125 as Steve kept repeating that it is not time yet and we reached that consolidation zone which he had predicted in June as a minimum

    So what kind of data

    Posted by arun on 12th of Aug 2022 at 05:05 pm

    So what kind of data are we looking at to predict that we are going to drop 1000 there is any NHNL divergence like last year, any wide ribbons etc ? I am not saying its not going to happen but it is definitely not a slam dunk. Do you have the guts to sell all your portfolio and go short and not cover until 1000 points down  or even 600 points down ? I definitely dont see myself doing that. I see some perma bears calling for 1800 SPX. just like kayKim permabull calling for SPX 22000 by 2030. 

    Anyways not going to talk further on this. My time is way more valuable than enter into debates on forums your plan. Did you

    Posted by steve on 12th of Aug 2022 at 05:27 pm your plan. Did you believe in June when I projected 4230?  Respect the trend until evidence changes. You won't know until much later any specific reason. Listen to ALL my comments last night. Have a great weekend 

    You have a great weekend

    Posted by arun on 12th of Aug 2022 at 06:29 pm

    You have a great weekend as well Steve. Thanks for all the time and hard work ðŸ™

    I am 100% short after

    Posted by DigiNomad on 12th of Aug 2022 at 05:24 pm

    I am 100% short after today, but it's a buffered short (breakevens above 61.8%). I don't have to worry about the magnitude of the pullback...I just need  a pause or a crash. Either would be fine. Pullback of 320 - 400 looks more likely to me, but I think it will end up being a big B wave in even bigger ABC before longer move down to new lows...and the turn will actually come at the 78.6% fib. The only way I get 800 - 1000 currently is measuring the bottom of the channel.....but I'm sure Steve had some logic in play. 

    They just jinxed me a

    Posted by DigiNomad on 12th of Aug 2022 at 05:26 pm

    They just jinxed me a bit by mentioning the 61.8% as likely target on Fast Money. In the same conversation they mentioned that the Fed is likely to want to keep things calm until after the midterms....which I totally agree with. Polls are already much better for the Dems after this market move. 

    It's not unnecessary.  He's just

    Posted by DigiNomad on 12th of Aug 2022 at 04:41 pm

    It's not unnecessary.  He's just measuring the amount of the advance to project a symmetrical pullback. You don't get one without the other....ever.  That's the problem with going any direction...on any timeframe. 


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