Stocks are rallying again Tuesday, February 2nd, as countertrend
corrective wave 2-up continues. The first wave {a} up of 2 up
should be completing soon, as the 15, 30 and 60 minute Full
Stochastics are very overbought. The next move should be a small
decline or sideways wave {b}, to be followed by another upside
wave, {c} up. Wave 2-up could last until the middle to end of next
week. Then wave 3-down should follow and be nasty.
However, our fear is that we are going to get a Zig-zag pattern,
with a potential downside target close to zero. Maybe zero to 1,000
in the Industrials, and zero to 100 in the S&P 500.
I can say you took McHugh out of context because you did. The
scenario you refer to is one of three that McHugh has as long term
possibilities.
That you focus on only one scenario only essentially
misrepresents him and takes him out of context. Of course you are
probably not a subscriber so you basically don't know what the hell
you are talking about. You prove this time and time again.
You are amazing. You took a piece of information that you did
not like and started finding faults with it. Yet, you did not
mention his short-term analysis, which is correct. You did not
mention that his call about the end of wave 1 down from last week
was again 100% correct. He did not have any doubts on that, like
some people on this site.
His updates are actionable, because they happen to be true. One
should just use them. Why you are making a game of something that's
just meant to be a guidance is totally beyond me.
McHugh Mid-day update (excerpt from) No charts
Posted by Peridot on 2nd of Feb 2010 at 02:18 pm
Stocks are rallying again Tuesday, February 2nd, as countertrend corrective wave 2-up continues. The first wave {a} up of 2 up should be completing soon, as the 15, 30 and 60 minute Full Stochastics are very overbought. The next move should be a small decline or sideways wave {b}, to be followed by another upside wave, {c} up. Wave 2-up could last until the middle to end of next week. Then wave 3-down should follow and be nasty.
McHUGh
Posted by poohnana on 2nd of Feb 2010 at 06:22 pm
Thanks so much for the updates.
Title: How can you take
Posted by macnsc on 2nd of Feb 2010 at 02:54 pm
However, our fear is that we are going to get a Zig-zag pattern, with a potential downside target close to zero. Maybe zero to 1,000 in the Industrials, and zero to 100 in the S&P 500.
http://www.safehaven.com/article-14073.htm
Really now - even in the worst case...ZERO?
macnsc
Posted by rbreese on 2nd of Feb 2010 at 04:08 pm
I am not really familiar with Mc Hugh but doesn't his scenario sound a bit like the one Matt / Steve have laid out here?
macnsc---You take McHugh out of context
Posted by perthx on 2nd of Feb 2010 at 03:31 pm
macnsc---You take McHugh out of context...please stop, really....
Check your inbox for the complete rant.
in all honesty
Posted by macnsc on 2nd of Feb 2010 at 03:52 pm
how can you say I took him out of context? He said there is a distinct possibility of markets going to ZERO.
I didn't take anything out of context or misrepresent the text. Fear is his marketing plan...
Context
Posted by perthx on 2nd of Feb 2010 at 04:06 pm
I can say you took McHugh out of context because you did. The scenario you refer to is one of three that McHugh has as long term possibilities.
That you focus on only one scenario only essentially misrepresents him and takes him out of context. Of course you are probably not a subscriber so you basically don't know what the hell you are talking about. You prove this time and time again.
wow - can you read?
Posted by macnsc on 2nd of Feb 2010 at 04:25 pm
he lays out three possibilities (one more than most to cover his uknowwhat) and then he says, "Our fear is" ...that the market will go to ZERO.
When some says his fear is that he will die of cancer you assume he is afraid of dying of cancer! LOL
You are amazing. You took
Posted by junkie on 2nd of Feb 2010 at 08:17 pm
You are amazing. You took a piece of information that you did not like and started finding faults with it. Yet, you did not mention his short-term analysis, which is correct. You did not mention that his call about the end of wave 1 down from last week was again 100% correct. He did not have any doubts on that, like some people on this site.
His updates are actionable, because they happen to be true. One should just use them. Why you are making a game of something that's just meant to be a guidance is totally beyond me.
I am amazing! Thanks. I'm glad you noticed.
Posted by macnsc on 3rd of Feb 2010 at 02:09 am
Ditto...thanks.
Posted by onechosen1 on 2nd of Feb 2010 at 02:50 pm
Ditto...thanks.
Thx. Really appreciate these updates.
Posted by blake_20 on 2nd of Feb 2010 at 02:24 pm
Thx. Really appreciate these updates.