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StockBlade Recap Of Calls This Week: One Word, Bingo

May 29, 2008 11:24 PM

moneyscoop.jpgWe made a number of calls this week. Our readers benefited once again.  The only call that I missed was to be long XLF on Wednesday above Tuesday’s low. That surprised me that the financials as a group would not even follow the market. Goldman did however.

 Here is a recap:

  •  If oil cleared $130.50 it was going lower, and should be a severe spike. Plunged today.
  •  IBM has not seen it’s highs, it is going higher, shorts are wrong, long above $120.78. It set a new high today.
  • BMC has not seen it’s high, it is going higher, long above $37.02. This weeks low? $37.02- exactly. It hit a high of $40.87 today.
  • Watch out for a market reversal above 1370.50 on the futures. It happened Tuesday.
  •  Long the market above Tuesdays low, it should not clear here. It didn’t and that was the low
  •  We should not reverse today, we should not exceed 1385 on the SP today. Today’s low was 1388.

Ok, I got lucky….once again…..maybe. My calls seem to be “lucky” a rather large percentage of the time…..

Why do i give this out for free? I plan on making this a big time site one day AND secondly I like to help out the “average Joe” that listens to all the total nonsense they hear on TV. Some guy with 3 kids trying to make it and getting punked by nonsensical advice on TV annoys me to the nth degree. if i can help them, I am glad to do it.

I think my dedicated readers have figured out my calls aren’t luck. In fact, I always advocate to avoid being the Lone Ranger and avoid risk at all costs. I know how the market works, i know how trader’s think, and I know what the market “should” do. Does the market always do what it should? No. But if you are always on the side of what it should do, you are far better off. Trust me.

You have to change the way you view the markets to be successful. It is a game played on a grand scale with billions of dollars. It is also a game that is rigged against the “average” person as they are focused on “PE’s”, “value” and other nonsense. Class dismissed.

Written by Tom@StockBlade.com · Filed Under Pre-Open 

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