Since the Downgrade of U.S. last couple of months ago, we already advised everyone to convert everything into CASH and not GOLD (since Gold may be in a parabolic bubble as well) Silver,Copper and other metals as well.
Our earliest post that gave everyone a warning was as early as Aug 15,2011 (http://theamazingchart.blogspot.com/2011/08/might-be-warning-for-pse-8-15-2011.html). Where we forcasted a possible Head and shoulder formation forming with a downside target of 3700-3800. And just this week, it dropped the very important neckline around 4150! And it happened as what was expected!
I hope everybody took my advise on this expected PSE behavior, and are in a Cash state right now. I also feel that I am one of the few who are really concerned about PSE, as most of my friends have more than 70% in the market, and still playing PSE for August and Sept. Honestly, I did NOT trade any since I got out of the market last Aug.
Having 75% cash out since Aug, I am happy, yet unconontented retaining 25% equity exposures (due to my bullish friends NOT believing my forecast), that lost a lot of value this week!. Still, im looking on a bright side, I can buy so cheap Stocks with my 75% cash. No regrets at all!
PSE support at 3700-3800. Next is at 3550,3300,3100. If Greece will default, 3100 for PSE is highly probable and a good buying point :)
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