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john..maybe some follow through for a couple days. Europe and Asia may be ready to buy US stocks at bargains, now that financial things look a bit better.
Normally, in a bear market, you would want to fade todays gains...I think it may be different this time for a day or two more..at least that's the way I'm playing.
Ascending triple top breakout on the SPX...it doesn't get any more bullish than that on a P&F chart.
OB/OS indicators would predict a snapback to the mean tomorrow..but it may be different this time. With Europe and Asia having good gains, it may be that global sigh of relief that lasts for a couple more days. Friday might be a good day to be short.
The beaten-down BKX is up over 5%...the work of the interventionists are beginning to have an effect. Sure, there will be profit-taking for days at a time.....but it is hard to fight all the weapons that an administration committed to propping the market have at their disposal. I think this may be the start of a serious bear market rally.
Gleno..Dang Man!..am I going to have to find another guru?? you go off to Palm Springs for a week, leaving us uninformed, and now you point in the wrong direction. Nevertheless, I still have confidence in your calls..but FQ is gaining. Cheers.
I am shocked to hear of the passing of Airedale. Some of his calls over the years were amazing. Also, he seemed to be a gentleman, as well as a Hurst scholar. I will remember him as an internet friend, always sharing his knowledge in an attempt to help others. God bless.
OT: The appalling thing to an average non-black, like myself, is the angry hatred (yes, hatred..describing it as something else is disengenous) towards America and white people. I do not see a lot of difference between that rhetoric of hatred, and the hatred of Islamic radicals. Wasn't it Obama himself that said that words matter?? He can't blow this off as just being liberation preaching...sedition is a more appropriate description.
I can't imagine Americans electing a President who has listened and absorbed for so many years, such words of hatred toward America.
Perhaps the dems will choose Hillary to run.
"The Bush administration will "do what it takes" to stabilize chaotic markets and minimize the economic damage, Treasury Secretary Henry Paulson said Sunday"
Don't fight the fed? They have too many weapons, me thinks..
I am a bit nervous about my short. Almost persuaded to sit out OE week. This expiry week could be more hairy than usual, and that's saying something.
It's interesting that the Chinese people are rushing as head-long as their government will allow, into capitalism...while, at the same time the most successful capitalist society of all time is showing strains. The main risk of social upheavel is if the IRA's lose half or more of their value, to coincide with a loss of value of the family home....often, much of many families nest egg. The Fed simply cannot let that happen, and will go to any extremes to prevent it.
There has been wealth re-distribution, engineered into the tax system, all of my life.....most of that social engineering seems to have been for naught in lifting the truly poor. Examples abound..but one might suffice. The building of very nice hi-rise apartments in the inner cities, with subsidized or low rent for the occupants, have been largely abandoned, because of vandalism to the buildings, and becoming a concentrated breeding ground for drugs and the crimes that follow.
I don't think anything can replace a desire to take the extended helping hand and help lift yourself and your family out of poverty. Until those in that condition are willing to help lift themselves, the giant sucking sound is going to be more of the noise of tax dollars going to support a life of indolence, drugs, and crime.
Just my opinion.
Global Warming..what a hoot. Did everyone see the news item that the founder of Weather Channel wants to put Algae (that's Al G.) on trial and bring in scientists from both sides to present only the unbiased facts (not political facts) on climate change? If the concept of global warming did not fit into the political objectives of the liberals so well, that noise would quickly die. My belief is that in courtroom, where only documented facts would stand scrutiny from the opposite side...the "warming theory caused by man's contributions" would be exposed for what it is..a political debate. It has become a symbol of the divide between conservative and liberal logic.
Can the natural market forces, now negative, defeat the virtually unlimited intervention resources of a government determined to prop up the markets?
One would think that the interventionists would win.
The Weekly put in a white candle (barely)..but PPO and MACD histo are trying to turn up from low levels. I think the old saw that it's hard to fight the Fed is probably true. There is just too much at stake in terms of IRA's etc., most of which can only hold long issues. I don't think the interventionists can afford to fail, and will go to any extremes to win.
http://stockcharts.com/h-sc/ui?s=$NDX&p=W&yr=1&mn=11&dy=0&id=p60654294112&a=80525275&listNum=1
Sorry for a second post..I should have checked Airedales site today. He has an update. He called a 10W low, occurring yesterday, some 2-3 weeks ago. Not bad, if yesterdays low is a short-term turn.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=27610617
Dan....grin..one thing about Gleno is that he has a system and follows it..at least I think he does. A lot of us get into trouble changing around. I happen to think there are any number of systems that will come out ahead if scrupulously followed.
Just to contribute something here..I don't understand e-waves, but I can see them after they have formed. I don't think there is much doubt that cycles (not necessarily waves) exist throughout nature, as well as the markets. The Hurst wave analysis seems to have some value, in my limited understanding. The best practioner I know is Airedale......I will include a link for any interested. His call has been a 10 week cycle low this week, and then some upside. All fwiw, of course.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=26932428
Gee..what an interesting board. Strong opinions in both directions. Everyone is right sometimes, and wrong sometimes.......often in the same day, it seems.
Gleno..I think you may have the most robust trading system here with your CCI's. I understand some of your rules, but am not sure about all of them. Have you ever capsulized that system into a paragraph or so?? Perhaps including that in the header portion of this board could be helpful to many.
Thanks and Regards
Sammy, NM, CJ..thanks for the responses. I remember all of you well, and with good regards.
Sammy, thanks for the suggestion on moving my IRA's..I was looking for just such information.
I used Timing Cube for one subscription interval. Needless to say, with poor results. The problem with such timing services is that if you lose confidence in the signal, they are of zero benefit..
We all know not every signal is going to be profitable every time, but a low percentage of wins over a series of signals makes one think that following some personal TA may be more rewarding.
I did pretty well following tmg's AM signal last year..but when the market turned down starting in about November, the AM signal began to lose as well. I think the intraday stops are smart for those who can use them..but they just didn't work in Rydex trading.
And....you certainly can't argue against Steve's mvp system. Best Wishes to all, and Regards.
FM..I thought you might be from AZ.....you work in a financial institution, if I recall. My old username was husk. I stayed with tmg until a couple weeks ago. Nice guys, and the timing concept was logical. I left when they started using intraday stops......that doesn't fit Rydex trading that well. I wish them the best, and hope the market begins again to respond to their signal "predictions".
You have an in-state favorite son running for President. He gets my vote, for what that's worth..not that he needs it in my state. Utah hasn't gone for a democrat since Andy Jackson, I believe.....grin. Regards.
that's true, he has certainly put in a lot of diligence...and I have never seen him rude to anyone...which is saying something on public, anonymous, boards.
FM..are you from either Arizona or South Carolina? I am just asking to connect you with old friends from previous boards. Regards.
"today 3/6) the P&F daily chart on the Retail sector had a double bottom breakdown....more support is just lower..this indeed will be a critical area to test.".........followed by a double bottom breakdown on the SPX today (3/7).
Lots of weakness everywhere..........it may be near the cliff, or at a huge buying opportunity..but it would take some kind of stones to make a big long bet here, imo.
Steve.......that is just truly outstanding! And, the most marvelous thing about it is that is forward testing..rather than back-tested.....a huge difference as most of us can attest. Congratulations..I'm a newbie subscriber in my first trade.. and dang, I needed a win after sustaining a loss so far this year, and so far I'm on a profit. Here's to many more.
CJ relative to the RLX chart you shared.......today 3/6) the P&F daily chart on the Retail sector had a double bottom breakdown....more support is just lower..this indeed will be a critical area to test. Link:http://stockcharts.com/def/servlet/SC.pnf?c=$RLX,P&listNum=1
I am a new sub on the C2 site..and am having to trade the SPX rather than the snp400. I hope that works out all right. Being on the right side of a large move, like today, is very pleasant. Regards to all.
Footquarters.......it occurs to me that the other Lennon (Lenin)..would have loved to have had that as his theme song as he merrily purged the Soviet of all those who were capitalist minded...or intellectuals.
Imagine there's no heaven
It's easy if you try
No hell below us
Above us only sky
Imagine all the people
Living for today...
Imagine there's no countries
It isn't hard to do
Nothing to kill or die for
And no religion too
Imagine all the people
Living life in peace...
You may say I'm a dreamer
But I'm not the only one
I hope someday you'll join us
And the world will be as one
Imagine no possessions
I wonder if you can
No need for greed or hunger
A brotherhood of man
Imagine all the people
Sharing all the world...
You may say I'm a dreamer
But I'm not the only one
I hope someday you'll join us
And the world will be as one
be...........
I haven't followed NM's forecasts..are there any records of accuracy available? Does he have a website? Thanks and Regards.
Gleno..lol..I have followed your trades..you do all right.
$CPCI, which is supposed to be the smart guys..I said "supposed to be"..has a P/C ratio below 1. That usually is followed by an up day..sometimes a large up day. No guarantees though. Good Luck.
It looks to me as if it's setting up for a big positive move upward tomorrow. Your hope, Gleno, is that I'm often wrong.
Mostly rumor-driven, I believe. Oil-rich Qatar rumored to be buying Europe and American stocks at this level in the amounts rumored at double-digit billions. They have actually bought financials heavily in Europe..it remains to be seen if the rest is true.
re: "Bad economy under Bush"........It seems to me to be quite a bit of a political argument under the same umbrella with blaming Ol' George for everything from hurricanes to global warming to economics to people taking home loans they couldn't afford. Of course it's his fault, in their eyes.
I think it's been a good 8 years.......at least we knew who George was sleeping with..I had four kids graduate from college, and begin promising, well-paid careers...I made money in the market, and began an enjoyable retirment.
The noble attempt to establish a second democracy in the Middle East...one not hostile to the West, or Israel, just may work. At any rate, history would have judged this generation harshly if we had simply stood by and watched terrorism from afar, as they strengthen and consolidate their evilness.
I sure don't want to see more years of Clintons, or Obamas for that matter...so my lonely vote will go to the other side.
smart money short? Probably they are smart, but unforseen events can overwhelm even the smartest. Rumors of Qatar making large buy of European and American issues. Europe now up big. Tuesday could be huge if the shorts get into a panic-covering mode.........or not...rumor may be unfounded, also.