This is what I said last Friday:
As I said, this was what my crystal ball told me. Well it was surely a timely call nearly pinning to the point! And I'm really glad that I did aggressive shorting last week, which has rewarded me dearly this week when we got a flash crash for two days on Wed and Thu. Here is what I told my Family early this week:
After busy harvesting my fruits for two days, I started to see a sign of reversal attempt late afternoon on Thu:
Well, it is again a precise lucky call. We did get the reversal today to allow us to take a nice overnight gain again. But honestly, I thought this rally attempt would be short lived and could turn back down again even later today. But I was totally wrong this time as the rebound was quite strong and intensive. S&P has recovered 2/3 of its loss this week, which is quite bullish, especially in front of the weekend. It is a good possibility that SPX may want to try to challenge the 4000 level again. But, this is a big BUT, that my crystal is flashing again to warn for the next leg down. I started to build up my shorts again and will go more aggressively next week if SPX indeed continues its bull run. I'm quite convinced that this rally attempt won't last and we will see another renewed selling pretty soon.
Be ready for another fireworks!
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