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Yes, all the drywalls and screws and the like except the land...lol
2bit
Two,
I have seen it reversed before, bad unemployment number = no interest rate hike...
2bit
Use the OEX number and multiplier 2.15, dollar up, oil down, bulls stay away, go Gold and Silver if you have to go long...
good luck
2bit
Line in the sand 491.93...
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Well, Rab, I think we need to have both to play the market..lol
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10.2% unemployment...not good...psychologically...sell off..
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What's there to buy, its all made in China..LOL
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Smart guy, you read minds, it probably will stop at 520..lol
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Well, next target OEX 500...
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Hey Oman,
You can stay there till Xmas and the market will still be up for you...lol
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Taking on CASH and Profits exiting our OEX calls!
using NM term but will be back in later
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Initial claims down by 20k to 512k
Productivity increased to 9.5% from 6.5%
Unit labour costs declined by 5.9%
Very good numbers
2bit
ECB, BOE all kept rates unchanged...
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so what is your take on this?
2bit
Hey, Blasher,
I was not angry at all. May be at the EOD I sounded a bit brush. But keep the discussions coming. You always have good insight.
I count the number of days the AD issues have been declining. It has been 13 days since Oct16 and refer the period to cash build up phase. One can only compare to the previous phases as to how much. This time is the biggest compared to previous three. Therefore, the probability of the market going up is very high.
good luck
2bit
You,
Dia, Spy, Oih, Xlf, Csco, qqqq etc all up AH....although they may all change in the morning...but I am sticking to my conviction that the market will power higher...else I could have traded with profits many times over....as OSCAR always say emotions out...I am going to the gym and not worry about this at all....
2bit
Blasher,
I am just responding to You quest for good news. I do not trade on news...I just made myself aware of them...frankly I just dont care what other traders do or not do...I swing trade on market internals and probabilities...for the past 10 days there were cash build up and today is the first day of cash back into equities..traders react to certain resistance and support hot areas and all I see is high probability that the market will power upward....
2bit
Then the only thing is Friday employment number, I think it will be better based on ADP report...
2bit
here is your good news....CSCO tops expectation...buy back $10billions...up 0.83 AH...although lower q1 profits than last year but see sequential growth going forward
2bit
No, not at all...it is quite normal for a fall back for the high of the day was way past r2..especially when one expects the first reaction is around 493 area,but it still closed above pivot and AD points to further advance...only if it keeps falling then I have to reevaluate..but right now the trend is up..
2bit
The momentum of the AD issues is such that tomorrow LOD may just be equal to todays close...I would not be surprised to see an overnight sell off of the US dollar in the Asia market...
2bit
dont count on it...
2bit
Statements from Fed will start another bull rally...no interest rate hike as long as resource utilization and inflation remain low...like previous FOMC days, sustained rallies follow...the market is set to go higher...OEX 520 in sight...
2bit
Govt Sachs is God himself...
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Blasher,
Cant follow you, for I have given up on day trading..and I think Two has a point...
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Well, one day at a time..when it gets to 493..spx 1060..then will see
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Yes, up leg confirmed, first target OEX 493
2bit
Thanks, You & Blasher for this mornings warning...
However, it is still my belief that it will go up from here..
It is not easy to be a swing trader...I8R
2bit
take a look
2bit
http://carlfutia.blogspot.com/
If it closes like this right now, it is confirmed another leg up
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No, I might just hang on to my Calls, depends on how it closes, this may be another leg up...
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Woohoo,
ISM 55.7 vs 53, pending home sales up 6.1 vs 0
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Fox,
I don't trade OEX for nothing...it represents Oil/Finance/Nasdaq/Dow...and according to Scamman,
OEX options have the best bang for the buck.
Right now I am thinking if it were to turn, it will
form the right shoulder of a H&S pattern topping around 500 and that means mid-Nov is a high, not a low. If it takes out 500 then it will go to 520.
A continual down from this point is not convincing, it is a downward sloping bullish channel and it is riped to move up. These channels never fail. The one day up and the next down pattern is clearly blatant manipulation. It just has to reach the long term channel line. I had this haunting feeling this down turn would reach that line and it did.
As people say all you need is a pen and a ruler to make a million and it is damn true. The only problem with swing trading is how many would still hold a short position while you have 200 Dow points against you.
I was above water on Thursday and now I am under water, but after looking at all the indicators, I did a one-two punch to add to calls. will see what happen next week.
2bit
Case for a Monday bounce
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Oman,
I am with you and just added calls at eod...
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Chicago PMI 54.2 vs 49...a good no...in expansion mode..
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I still have my OEX 495 calls...I guess one of us will be wrong...unfortunately I cannot say good luck to both of us...
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Hmm..the feeling is mutual...I think it is all set to take out old highs....
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This is the beginning of a new up leg...
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Dow futures up more than 80 points..does R3 werk in a bull market...yesterday was it...no...
2bit