Fully invested in secondary oils (100% long)
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not much red here... http://mrci.com/qpnight.asp
"closing rally" on hold until Monday... some great news coming over the weekend (removal of dollar/yuan peg)
put/call ratios, TICK/TRIN bullish! DJIA in "ascending triangle", SPX in "bull pennant" (60-min)
"rally into close" common on Friday in a bull market...
http://www.cboe.com/data/IntraDayVol.aspx
http://www.marketswing.com/realtime.htm
RALLY TIME!!!
aire - that is absolutely fascinating work!...
I like your analogy of "the hook"
RALLY TIME!!!
denmo/GE - I agree, "buy dips, stay long"... GE appears to be forming a "symetrical triangle" continuation pattern...
yesterday's dip was on very low volume...
RALLY TIME!!!
chris - "Thursday Reversal Day" rally into close!...
Tomorrow is "Friday Up Day"
Let's Rock and Roll!!!
peg - lowest reading since Oct/02 market bottom!
RALLY TIME!!!
the news was expected... RALLY TIME!!!
(news is not important... what is important is how the market reacts to the news)
IBM - broke out of "ascending triangle bottom"...
has now re-traced to test "support" (previously resistance)...
any good news over the weekend could easily trigger a big gap up, which would complete an "island bottom"...
http://stockcharts.com/def/servlet/SC.web?c=IBM,uu[h,a]daclyyay[dc][pb13!b50!f][vc60][iUah12,26,9!Lp...
http://stockcharts.com/def/servlet/SC.web?c=IBM,uu[h,a]daclyyay[dc][pb13!b50!f][vc60][iUb14!Lm12]&am....
this chart looks bullish when blue line is above green line... (other than that, it looks pretty useless)
http://www.freecotcharts.com/charts/DJ.htm
this chart seems to say buy when the green line bottoms at a low point, and sell when the green line tops at a high point... (other than that, it looks pretty useless)
http://www.freecotcharts.com/charts/NQ.htm
this chart seems to indicate that the commercials and large traders are usually wrong, and the small traders are usually right... (other than that, it looks pretty useless)
http://www.freecotcharts.com/charts/SP.htm
aire - Value Line chart is "ascending triangle"...
(acknowledges your interpretation)
RALLY TIME!!!
my count - beginning 533 up from 1982...
RALLY TIME!!!
lexus - yes, it's important to look good in the tropics, because you don't feel like wearing a lot of clothes... makes for great scenery!
If the "smart money commercials" were shorting for the last three weeks, they may be covering now... that may be one of the reasons the market is finally turning back up... In any case, those numbers are too old to be of any predictive value... IMO nobody has ever been able to construct a profitable trading system based on that type of data... As another trader once said, "the COT numbers will tell you where the giant gorilla is, but they won't tell you what he is going to do!"
high/low indicator confirmed it's buy signal with a higher low, a higher high, and a decisive crossover in the adx...
http://trending123.com/_nahl__.htm
RALLY TIME!!!
"as goes GM - so goes the market"...
GM up 18% on Kirkorian bid, forming an "island bottom"
http://www.marketwatch.com/news/story.asp?tool=1&guid={40C9BC66-35F4-49B2-8BB8-B39C1ED1D251}&....
RALLY TIME!!!
aire - what does that indicator entail?...
I did a Google search, and all I got was book adds...
thanks,
put/call ratio 1.21 - TICK/TRIN extremely bullish!...
http://www.cboe.com/data/IntraDayVol.aspx
http://www.marketswing.com/realtime.htm
RALLY TIME!!!
feliz aniversario aire - thanks for the analysis... also, I see a clear 5 waves up followed by an ABC down.
RALLY TIME!!!
chris - Yeah man!... Let's "Rock and Roll"!!!
high/low indicator - looking better every day!...
http://trending123.com/_nahl__.htm
RALLY TIME!!!
Is this a "pause to refresh"?... I expected more follow-through too!... put/call ratio is improving though, so it might be RALLY TIME!
http://www.cboe.com/data/IntraDayVol.aspx
TICK/TRIN looking bullish as well...
http://www.marketswing.com/realtime.htm
Awesome!... Parabens!!!
aire - you and I are probably the only ones on this board who have been through enough "bear markets" to know that this is a "bull market"... thanks for the professional analysis!
http://www.marketswing.com/realtime.htm
blackcloud - that means 4 out of 11 were up in spite of the fact that the bull market was experiencing a "correction"... Now that the correction is over, it's time to sit back and enjoy the ride back up to new highs!
Mondays are usually down days, even when the market is headed higher, so todays' action is extremely bullish!
The close near the highs sets us up for a "gap and run" tomorrow! This is shaping up to be a record-breaking rally week! (a "MELT-UP")... Good luck, and good trading!
http://trending123.com/_nahl__.htm
glad to see bears still bearish...
http://www.cboe.com/data/IntraDayVol.aspx
(Monday is usually a weak day)
RALLY TIME!!!
if XOM closes/HOD - possible "island bottom" (with a big gap up on the open)
Toppcats - that's very bullish... no more supply from that particular source... (only demand when they are forced to cover)
chris - yes, I agree it's RALLY TIME for GE as well!
http://stockcharts.com/def/servlet/SC.web?c=GE,uu[w,a]dacayyay[dd][pb50!b200!f][vc60][iLh14,3!Lg]&am...
chris - I don't trade GE, but I wish you the best!
chris - oils are rallying on lower crude price because the present prices do not discount $50 dollar crude (not even close). Campare XOM, CVX, DVN p/e with GE, MSFT, etc.
http://stockcharts.com/def/servlet/SC.web?c=$XOI,uu[w,a]dacayyay[dd][pb50!b100!f][vc60][iLah12,26,9!...
http://stockcharts.com/def/servlet/SC.web?c=GE,uu[w,a]dacayyay[dd][pb50!b100!f][vc60][iLah12,26,9!Lb....
Don't worry about the oils, they will continue to lead the market higher! JMHO, GL/GT
MMM - bullish divergences, low p/e, high yield, low volume low, right-translated high... Big (six month) double bottom?
http://stockcharts.com/def/servlet/SC.web?c=MMM,uu[w,a]dacayyay[dd][pb50!b100!f][vc60][iLb14!Lah12,2...
(5 waves down complete)
MMM - bullish divergences, low p/e, high yield, low volume low, big (six month) double bottom?
XOM buys $112 million in treasuries per day! (that's how much it earns)
cash - why is that bad for consumers?
cash - US pays off bonds at maturity... it always has and it always will
peg - yes, there could be some pressure from the US and China to stop the "meddling" sometime soon (or later). We will cross that bridge when/if we come to it.
When Mexico changed the dollar/peso exchange rate from 12-to-1 to 24-to-1, nothing happened. No big buying or selling of either currency (no panic)... When England devalued the pound nothing happened. No big buying or selling of either currency (no panic). In fact I don't know of a single instance in the history of the world in which a change in the exchange rate triggered a panic.
There are trillions of dollars floating around the planet. These dollars are constantly seeking any and every opportuninty to make a return or interest on investment (plenty of liquidity). $2 billion a day is peanuts!
tech - where on earth did you ever get such ideas? I know you didn't dream them up yourself, because you're not that crazy! In the words of the great budha, "believe nothing, no matter who says it, even if I say it, unless it makes sense to you"... Now tell me seriously, does what you just said make sense to you?
Boa noite!
peg - why does everyone think the yen will strengthen alonside the yuan against the dollar? (I would like to hear just one logical reason)
Also, why does everyone think that a sudden removal of the peg would cause some kind of a panic in the financial markets? (I would like to hear just one logical reason)
In any case, it is expected to happen sometime between now and next weekend.
As long as they are held until maturity, they certainly can cash them in without trashing the markets!