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Next downside target I have for AXA is 10.64. I'll add more if it gets there.
UCO: 8.10 is an area I'll buy more, if it gets there.
Cort,
In AXA @ 11.48......
also, back in UCO @ 8.69
playing the charts.......
I haven't owned F for quite sometime.
I believe this pullback today (assuming we close 'red') will just help to fuel this up-trend further along. We never reached an 'extreme' overbought condition. A 'green' close could change that,though.
I'll know tonight, after the close.
Looks like today (Friday) can close 'green'. I thought the indexes would be in 'extreme' overbought territiory, but there's still more room for upside movement.
That's o.k. with me. :~)
10.57 - 11.44 looks like the area AXA will pull back to. Those are the 38.2% AND 50% re-tracement levels.
7.58 is the open gap from the 9th of March.
If the markets remain in an up trend, AXA should reach one of those first two levels and then continue higher.
I believe the markets to sell off Friday and Monday, possibly to mid-day Tuesday, and continue to move higher.
Markets looks to pull back, from todays high and the MArch 9th low, to the 38.2% re-tracement level. The 50% level at the worst.
I'll be looking to deploy more cash.
Slow and steady is best for a continued run......
Looking for another 14% before the markets have a meaningful correction.
That equates to SP500 @ 930; NASDAQ @ 1745; DJIA @ 8835
This afternoon was making today look like a good time to deploy more cash into the markets.
Then the rebound happened.
Great for my stocks. :~) Bad for my cash. :~(
Just 4 trading days left in March. Looks to me like the markets will rally through April, at least.
In other words, it looks like (at this time) April will close higher than where the markets close March 31.
A HUGE blow-off top rally between tomorrow and March 31 could negate my scenario. Barring this, we should rally through April, at least.
EDIT: Still looking at this rally as just a bear market rally.
the indexs (xlf, djia, nas, sp500) all still have plenty of room on the daily chart until they are in extreme overbought territory.
We could keep going up the rest of this month.
I'm conflicted because I'm "long'" partical 401k, but short the XLF via FAZ.
I want the overall markets to rise, but I want the XLF to crash and burn.... if just for a day or two... lol!
I'm hoping....lol!
your'e welcome. :~)
Short term, it looks to pullback. On the daily, it nailed over 99 on two out of 4 days. That's a good sell signal. That's on the daily chart.
On the weekly, it's around 97. So, it still has room to move to the upside. The monthly is around 67, so plenty of room on the upside.
I guess AXA will move down short term. In a strong market, AXA will probably move up. In a weak market, it'll probably re-trace some of it's recent gains.
10.15 - 10.84 looks like the area of re-tracement. Though, it has a gap down at 7.58 that I don't like.
If the market would sell off big time, I could see that 7.58 gap getting filled. At least you know your downside risk.
When the re-tracement stops, look for it to put in another up leg of 9.53 points.
Lots of gaps above. I like that.
If the markets rally for awhile, I could see those upper gaps getting filled between 10.15 and around 20.
I'll be watching it. :~)
Cha-ching! nice trade, cort, nice trade.
Sorry, I don't.... only english....
I believe we're going up, but first a pause that refreshes.
I really need the XLF to get down to 8.25, at least.
Volume is still low, overall, though.
I see AXA has been a nice trade. I'll be watching it.
It's a "sound" company, eh?
I need a HEALTHY pull back in XLF. I own a TON of FAZ.
I think we'll know by Friday's close.
I believe the low is being made in nat gas this week. If not, then early next week.
If UNG closes the week at these levels, then the daily, weekly, and monthly charts will tell me it's time to go long (although, I allready am from 19.87! lol!).
Took another postion in FAZ @ 33.63
AP now 39.355
UCO: 8.06 taken out. that was quick. daily still has a lot of downside room until it's extremely oversold.
7.04 looks to be the ideal entry point now.
watching....
btw, I paid 2.059 for dieselfuel the other day.
some stations around me have it for 1.999
just about the same price as reg unleaded.... i like that!
Yeah..., like a 'hedge'. That's why I bought UNG.... not working out so far.... :~)
Sell orders got hit on DXO (2.72, +6.5%) and UCO (8.77, +25%).
I'll watch the 8.06 area for re-entry on UCO. It looked really overbought, and I didn't want to hold while that gap got filled, so I took profits.
Also, I like the way UCO trades better compared to DXO.
nat gas continues to frustrate me. (Must be near a bottom!)
Usually, it bottoms in March and rises throught the summer.
Hope that's the case this year. :~)
lol!
Cramer's now a Bernanke lover and a bull.
What a joke. lol! :~)
Re: UNG
Me too. I've had a chance or two to get out with a small profit, but I think big. Same for DXO. I believe they both will do fine in the next month or two. I just hate holding stocks longer than a couple of weeks.
My main concern is the XLF. Looking for it to drop this week.
I'm in FAZ and I'm not going to screw around with it too long. :~ )
BTW, Obama administration now saying the economy is o.k., it's sound. What a joke. :~ (
Well, I'm long crude, nat gas and short the XLF via FAZ.
XLF looks ready to roll over now, though it could be up a small amount Monday, or even into Tuesday.
As previously stated, I moved 50% 401k money back into stocks at the end of Feb. SO obviously, I'm looking for more upside this month and hopefully into April, at least. I'll just take it day by day after March.
My delemia is, I'm positioned long, but believe that lows get tested again before the 'big rally'.
If we test the lows soon, I'll go long the other 50% of 401k money.
The quicker the re-testing of the lows, the better. Time is NOT on our side, imo.
Anyone here think sp500 666 gets tested before our '50% rally'?
Seems like everyone's looking for a 50% rally here. I don't think it'll happen because everyone's expecting it.
I have a feeling we test that low first.
BTW, quadruple witching this coming Friday. :~)
yeah, I see they had a good report. That was a gutsy move in this enviroment... :~)
Other half @ 42.36.... average price= 45.08.... :~)
Took 1/2 position @ 47.80.....
FAZ: breaking 7.68, and XLF should run up to 8.11
That's where I'm looking to enter into FAZ.....
didn't get in FAZ.... I'll try in the morning.... hopefully we'll have a green open....
if I miss this trade.... oh well... gotta stick to a plan...
no matter the market... trades come and go.... :~)
steels look like they want to head down, short term, for a 'final flush', before heading higher. imo....
XLF 8.82... that would be the ULTIMATE place today to enter FAZ.
Don't know if it'll make it that high today, but 8.06 on the XLF would be the next ultimate point to buy FAZ.
Either way, a green close for XLF, and I'm in.......
A 'green' close on the XLF will, imo, set up a very handsome trade via FAZ.
Even just a daytrade should return a nice profit.
Hey Cort, fwiw, today's action on AXA put it into extreme oversold territory.... @ rsi 0.58 on the daily... if you know what I mean.... :~)
I thought you might... :>)
The weekly says 'buy', the monthly says 'buy', but the daily says wait, a better price is ahead.
Lots of gaps above, so in a strong market, I'd think 12.35 should be 'doable'.
How are the 'funny-mendals', is this a stable company?