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Nasdaq 2054.87...
50% retrace will get some kind of reaction.
GOLD...
The good:
http://www.321gold.com/editorials/kern/current.html
and the bad:
http://www.321gold.com/editorials/chan/chan101005.html
Flip an eagle.
Hey Carl...
Can't ya slip in market channel hottie?
I'm partial to large breasted redheads (Liz).
lpdcb...
On the evening of June 9th in a post to my friends over on Raging Bull's GE board, I clearly stated my feelings regarding the market:
http://ragingbull.lycos.com/mboard/boards.cgi?board=GE&read=85746
GE topped out the next day at 36.95 and hasn't been near that since.
I've made 2 round trips into the market since June 9th. The 1st time was positive and this last time I gave it back.
Clearly, I'm not bullish on the markets at all.
IMO, the technical damage done yesterday was real, not just somebody missing a stop sign.
POKERSAM...
Also, keep in mind that until 1060 is reached Dec.16th, you get no gratuities. A couple of down days does not fullfill your prediction.
POKERSAM...
While trying your hand at graciousness and you find yourself having difficulties, think back to those shorts you had in September. If you recall, you were sqawking for over a month that big wave 3 had started. If you're still not done patting yourself on the back, look up what happened in particular to those September puts you bragged about. The ones that ended worthless.
Fortunately, the longs you had that you forgot to mention, probably offset the losses. Congrats once again, on those.
smooth_shot...
You've got mail.
POKERSAM...
Actually, it's your incessant harping to whomever is long that they are doomed.
It's really getting old.
Can you post a chart or anything that supports your bearish stance? Something other than 1060 by Dec.16th.
I'm new here. I don't know your past record. I've only got the current. You've been wrong for 70 points and you're ripping the longs at the same time.
Tell me how that would look to you.
POKERSAM...
So far, so good.
In long at 18.62. Currently 18.83 and the whole time, you've been whining and harping like a bitchy wife.
Lighten up already. You've been calling for the sky to fall since 2093. Counting today's high, that is 70 points you've been wrong on and truth be told, I really do not care if you are right or wrong.
I'm not sure if you are trying to convince me to sell or not. If you think you can influence my decisions, you're barking up the wrong tree.
What's your plan if the Nasdaq closes above 2162?
POKERSAM...
It looks to me like we bounce down off horizontal resistance. The down trend line is a few more points higher. IMO, we will go north through it.
FWIW...
This is Week 4, Finals Week at AB's.
http://www.atomicbobs.com/index.php?board=4
Caution gets thrown to the wind. Safe stocks won't win ya the title of Grand Champion.
POKERSAM...
While I do believe there will be a significant pullback coming, I have not yet abandoned my long position. My stop remains a close below 2100.
Is there a point at which you will abandon your short position, ie. stop loss, or will you ride out whatever may come until your low projection has been achieved?
TIA.
pmiles, mr_cash4...
I've got some very nice profits on my gold stocks. Are you suggesting the pullback into October 21st will be sharp or would you suggest letting them ride it out?
TIA.
daaverage...
No, I don't.
Keep in mind, if you're referring to the R3 on SPY, that the R3 was originally intended for the index options. The are quite a bit more expensive than say, the SPY and the index option are more reflective of bigger money.
http://clearstation.etrade.com/cgi-bin/bbs?post_id=3235333
POKERSAM...
The shootout at 2162ish will be one to watch.
POKERSAM...
In the grand scheme of things, I feel horizontal support trumps diagonal support, hence my giving 2100 more emphasis than any of the other fine points that you mentioned. If we're going to 1525 by December, I'll be out somewhere just under 2100. Then let it fall another 500 points. I can live with that.
POKERSAM...
At 1st glance, I would have to say that we put in a lower high and lower low, the definition of a down trend, in September.
In taking the chart a little further, the 2093 low in September is an exact 38.2% fib retrace of the entire move up off the April low.
It bothered me a bit to see it drop below 2100, but now I can see why they under cut 2100.
Thanks for making me work.
Also, using a PnF chart...
The uptrend off the March 2003 remains intact. Chart won't post. Here's the link:
http://stockcharts.com/webcgi/Pnf.asp?S=$SPX
POKERSAM...
In defining an uptrend, you would agree that it should go from southwest(lower left) to northeast(upper right) as you look at the monitor or printed sheet, correct?
It can also be defined as higher highs, higher lows. Agree?
If we can agree on that, the only problem I see would be the lower high on Sept.9th:
[j12873215,y]&r=0717>
All that being said, there hasn't been a lower low, therefore I give the 6 month daily time frame chart an uptrend rating.
I'm staying long over the weekend...
If I cash out next week, it'll be the Nasdaq closing below 2100 that will knock me out. SPX 1204 is quite solid support as well.
POKERSAM, you've got a much different time frame than I. You trade 6-8 times a day. My last trade was August 8th when I went all in.
You appear to be strong on the short side, yet you say you trade both ways.
It's unfortunate that only the trades you clearly identified are underwater. Fortunately, the trades you failed to mention are green. That's a good thing. Maybe next time, if you have the time, instead of ripping and chiding the longs who are counter trend to your position(s), you can identify your other successful trades as they happen. Lends credibility to your posts.
Good luck and warm regards.
I'll take a stab...
More sellers than buyers.
From TB:
HERE ARE THE FACTS ON SEPT 30TH AT NOON! BE NOT DECEIVED! This morning there have been 79 to X's and 37 to O's with 6 sell signals and 10 buy signals. Month end window dressing is not an UNCOMMON EVENT! use support and resistance to protect profits.
As the afternoon session unfolded the 20MA was succesfully challenged and momentum changed to demand. In the afternoon session alone, there were 54 moving to X's and 11 moving to O's with 11 buy signals and only 2 sell signals.
The summary for the day is 117 to X's and 64 to O's with 23 new buy signals and 19 sell signals.
The important factor was the move above the 20MA, however price halted at the 50MA on the NDX.
GLENO...
I'm going to use your chart, with all your indicators and tell you what I see in them.
Starting from the top:
MACD 60,90,12: slooow moving MACD, but it is above zero even though it has a negative crossover. No opinion.
Within the chart, all MA's are below the price. bullish.
Above mid-bollinger bands. bullish.
Channel is too sloppy. I don't call it a channel. Make up an 8 day chart and draw the channel. Won't work.
6 days in a row of better than average volume. bullish.
All 3 CCI's above zero. bullish.
Slo STO positive crossover. bullish.
RSI(14) above 50. bullish.
MACD 12,26,9, poised to crossover, just not yet. neutral.
MACD histogram bars were much weaker on the lastest pullback. I consider that a positive.
ADX crossover. bullish.
Williams%R, above 50. bullish.
Same with StochRSI. bullish.
OBV strong. bullish.
A/D don't know.
Aroon crossover. bullish.
CMF money coming out weakened during the last draw down. Money coming in picking up slightly. bullish.
CCI above zero. bullish.
ULT above 50. bullish.
BB. no comment.
Another CCI above zero. bullish.
MACD histogram above zero. bullish.
Why are you short???
Hey Gleno...
If the SPX moves up through the down trend line like the Nasdaq has already done(and the pilot hole has already been drilled), the scorched shorts will get torched again. You know what they say about the Nasdaq leading the rally. Did you see the $SOX today? Up 2%:
2X-Be-Me...
"But I had a very strong, preconceived notion that the market direction was down"
I trade my analysis. As with everyone's trading, some work out, some don't. Some might call me mediocre at best. (LOL PS, lighten up).
Money management plays a big key. I've had my share of flops trading without stops. It's called learning.
Who is doodleboodle and where can I view his/her chart? TIA.
The SPX...
Recovered the 13, 20 and 50dMA's yesterday as well as the mid-bollinger bands.
A MACD crossover is imminent and will re-trigger an all out buy signal if/when it does.
http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[h,a]daclyiay[db][pb13!b20!b50!b200!d20,2][vc60][...
The SPX...
Recovered the 13, 20 and 50dMA's yesterday as well as the mid-bollinger bands.
A MACD crossover is imminent and will re-trigger an all out buy signal if/when it does.
http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[h,a]daclyiay[db][pb13!b20!b50!b200!d20,2][vc60][...
mr_cash...
I'll be watching for your gold model as well.
Thank you!
peace
pmiles...
This is from Mathias:
http://clearstation.etrade.com/cgi-bin/bbs?post_id=6860512
You appear to be saying we go down from here into the 21st.
What 21st are you referring to? October?
TIA.
POKERSAM...
Wassup? Why so hostile?
Your humble opinion doesn't come across as humble.
I trade mutual funds in my 401k. I went long on this latest trade August 8th. Pretty much a yawner. In @ 18.62, currently at 18.56. The trade is still open. Let's judge it when it closes. With mutual funds, closing price counts, hense the close above 2100 clarification.
Your Sept. puts got toasted. We can judge that trade as it's over and your October puts aren't fairing much better, but they are still in play. You're underwater on the home builder shorts. You don't use protective stop losses and I'm a mediocre trader???
Where do you have room to critisize?
I'm long, you're short. My position has faired much better. So far, this round is going my way. Other than pounding the table about a 3rd wave down and 1060 by Dec.16th, nothing you have offered has panned out.
BTW, I thought you had smooth_shot and I on ignore.
If you don't want to ignore me, let's talk about the markets. I think it's going up. We broke up through resistance and back-tested it.
VDHanson...
Thanks.
My current 100% long trade remains open.
Support at SPX 1204...
http://clearstation.etrade.com/cgi-bin/bbs?post_id=6853544
Support at SPX 1204...
http://clearstation.etrade.com/cgi-bin/bbs?post_id=6853544
Footquarters...
Good to see you!
POKERSAM...
It's kinda hard
to give you my opinion if you have me on ignore.
You put most of the bulls on ignore.
You also never answered my basic question.
Where is your stop loss?
Mine is a close below 2100.