They never kill their Golden Goose? Wow!

Pin It

Remember the old axiom ” They never kill their Golden Goose”? It rings true so many times that I cannot help repeating it again and again.

Whenever the market drops drastically it gives lots of pain and anxiety, it upsets people, they swear up and down never to trade again. Its a brutal game, and nobody likes it, when it becomes so painful, that you curl up in a fetal position. Most traders, they give in, they capitulate- the word is “capitulate” and sell and take a loss. That is exactly what that is designed for, to make you capitulate on the torture rack. Just to break you. When you sell someone out there makes an equal amount of gain on your loss. This is a business, a full time occupation, taking money from your account legally. This is the profession of Wall street. It’s a regulated brutal game, in which you lose real money, and never see it again. You go home defeated.

SPX daily chart

As you have seen in last night video here , the market sold off viciously dropping from its key support level of 1120 on SPX and that signaled lots of pain for millions of traders. Technicians were right on it, the support was broken. The market continued its vicious path today dropping further down to 1080 and even Fed Chairman Ben Bernanke’s pep talk didn’t help. Nothing helped it. The ugly game was on and only the market jockeys were in control, no one else. They knew what to do and when.

But in the last 45 minutes a huge buy program hit and it pulled up the sinking ship back to 1123 where SPX closed today. That is the “area of confluence” where it should be. If it stays here , it will go higher. Did they killed their Golden Goose? No they never do, they are too greedy for it. If they destroyed the market how would they take your money again ? Think of it for a minute…

So what do you do as a retail trader? You stay tough and don’t give up, or sidestep the “game “and get the hell out. Being tough is a mental condition totally based on emotions and personality. Many people don’t have that. They have no clue what it is. They think they are strong, but they cave in easily. They give up without a brave and protracted struggle, and that makes a difference in trading and making money.

That is exactly what I did, and I made back lots of losses in this freak show called stock market. Here is the video.

This is pure Technical analysis, you will never find this kind of Technical analysis unless you work for a major hedge fund or a institutional trader on Wall Street. Its years behind the charts that gives this kind of perspective. Here it is in its full Technical jargon and glory. Click on bottom right of chart for full screen view.

If you want to learn how this is done, click here

0 Comments For This Post

1 Trackbacks For This Post

  1. HD Webcam Review Says:

    Free Backlink!…

    We loved your website so much we added it to Just fill in the offer and your backlink is permanent….

Leave a Reply