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http://www.trending123.com/ArchivedUpdates14/SP500%20BEARISH%201-2-3%20TREND%20REVERSAL%20DAY%201.ht....
he's predicting a little lower than pokersam on s&p by dec.
Kenwong , please don't move to another board ,geese were just getting started. i don't let the jerks bother me i don't respond
to them. ken
did pokersam take the night off ?
Tech Talk: "Time for Caution"
When it comes to applying technical skills to an assessment of the market environment, few advisors can match John Murphy, head market analyst at Stockcharts.com. Here, he offers his guidance in a clear overview well-suited to technicians and non-technicians alike.
"October is trying to live up to its reputation as one of the year's most dangerous months, as all the market averages fell sharply on rising volume. That's a bad combination. Many undercut initial chart support at their August lows and are threatening their 200-day moving averages. The S&P 500 is below that long-term support line and most other indexes are testing the 200-day line. Further, the latest bounce came on low volume, which doesn't inspire a lot of confidence.
"Two other important indexes that are testing their 200-day lines are the Russell 2000 Small Cap Index and the Wilshire 5000. Unfortunately, both have fallen beneath their August lows, which may act as new resistance barriers on any rally attempt. Another disturbing element in this recent selloff was bigger losses in the NASDAQ market and small caps. This heavier selling in both erased any positive interpretation coming from September's strong finish. Small cap leadership is essential for the market.
"It's especially important to keep an eye on the weekly Wilshire 5000 Index because it's the broadest market measure that we have. The last two crossings of its 20-month moving average signaled the start of the bear market in 2000 and the bull market in 2003. A downside violation would carry long-term bearish implications. Meanwhile, the nine-month relative strength indicator line shows a ‘triple top’ formation which suggests an overbought market with a major negative divergence. That's a warning sign. No signal has been given yet, but it is getting dangerously close.
"Overall, this is a time to be very cautious. My forecast for a while has been that the cyclical bull market that started in the spring of 2003 is just about over. I've based that on Elliott Wave analysis, cyclical analysis of the four-year presidential cycle, seasonal trends, analysis of weekly and monthly charts, sector rotations, and intermarket factors like rising inflation and interest rates.
"I've also been forecasting that the most dangerous time for the market is the autumn of 2005 to the autumn of 2006. We're now in that period. That's why this recent downturn carries such dangerous implications. I can't say for sure that a major downturn is in the offing. But I can say with some confidence that market risk is at the highest point in nearly three years. That calls for a defensive market posture."
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John Murphy
Head Market Analyst, Stockcharts.com
Oradell, NJ 07649
E-mail: johnm@stockcharts.com
Web site: www.stockcharts.com
gleno34 , thanyou for your advice !! ken
husk gleno? how many days do you think bounce will last?
zigster, i want it to go down i'm short..
just wondered if ps was trying to scalp $ on a bounce or enter
more shorts at better price.
pokersam ,? what are we to be concern with if theres no bounce?
or anyone else that can answer, thanks ken
are you just looking for a better deal to enter more shorts?
AS OF 5:05 AM FUTURES LOOK UP. I HOPE THIS IS THE BOUNCE POKERSAM WAS WAITING FOR.......
wow glen034, i'll check that out thankyou !!! ken
does anyone know of any site where theres free fib. settings on the indexs ? thanks ken
pokersam, thanks for all your tips today my account just keeps growing because i had faith in your expert advise..
thank god !!!!
KENWONG, thankyou !! good work !!
Pokersam, if it goes down to 1177. should i get out of my profunds bear ?
i'm not in puts. but if you think longer term it's still will
drop i'll stay in.
good mourning pokersam, looks like premarkets are up alittle.
http://www.safehaven.com/article-3908.htm
click on archieves at bottom of page. Zoran Gayer (150)
some interesting e.waves
Carlsmutual, thankyou . i don't see anything about charting the
options in there. it is a nice site thow.
POKERSAM, thanks very much for the feedback and lesson !!! ken
Your wellcome pokersam, ?'s what options do you trade ,qqqq's stocks or both ? when buying puts or calls what month out do you enter same month or 2- 3months out ?what would you suggest?
would the q's etf be the best or safer for a newbie to trade options in? thanks ken
MVP, was it you looking for a option site with option charts ?
try.
www.marketwatch.com
put symbol in
click options, pick the option your interested in. you'll see a 5day chart to the right of page.
next click the option symbol at the upper left of page.you'll be able to pull a 5,30day
6month,1yr chart. it's the only one i could find. if you've find any better please post it for me. thanks hope this helps .
ken d.
cancel
gleno34 i was off of work today and not use to watching all day, since i'm short it was exciting to see it tumble. but u no
it's gonna bounce somewhere it sure did the last halfhour.
i was guessing more follow threw tommorrow. weekly charts still looks bearish.hope it breaks threw somemore supports.
ken
POKERSAM, my Bearfund broke out over the upper trend line.made a made a 3rd new higher high since aug. looks bullish being short.
cause of You and Dr.Joes i'm looking at charts alot deeper and still learning. my small account increased nicely even after some drawdown. i'm in a nice profit. now that i'm able to go long and short with Profunds i hope i can captsure a nice amount of each trend. more than anything i pray i can learn to be consistant and let it build itself. keep posting please for me your a teacher............... ken
Special Hotline Message
10/6/05
Dow Jones Industrials 10287.10 down 30.26
Nasdaq Comp 2084.08 down 18.94
The market's decline continued today, with heavy selling especially
evident in energy stocks. In the final minutes there was a wave of
buying, but it was not enough. The Dow finished down 30, the Nasdaq
lost 19, and we continue to rate the market's intermediate trend as
negative, due mainly to the negative readings of our Cabot Tides and
Two-Second Indicator. Your most important job now is to get rid of
your weakest stocks, so you have cash to use when the market's
uptrend resumes.
In recent days we have sold FoxHollow and Nabors and today we will
sell Apache and United Therapeutics, taking a small loss in both.
This will bring our cash position to over 40%.
Still rated buy is Nasdaq Stock Market, which maintains its steady uptrend.
But all other stocks are rated hold. They are Google, Kyphon,
Netflix, Petrobras and XM Satellite Radio.
Timothy Lutts
ANOTHER ROUND OF SELLING
POKERSAM,SAID IT WOULD BE SWIFT...DOWN
chico, don't you have to wait till the closing ?it's starting to pull up off of lows.if it pulls up theres a wick.
just saying maybe alittle early. she might even go lower.
indexs starting to tank
Pokersam, Stockta nice little site...
Cabot Sell Bulletin
Dow Jones Industrials 10,317.36 down 123.75
Nasdaq Comp 2,103.02 down 36.24
The market's decline accelerated today, taking the Dow down 124
points and the Nasdaq down 36. Our long-term Cabot Trend Lines
remain bullish, but our shorter-term indicators are telling us this
downtrend could easily go further and that you should be defensively
positioned to ride out the storm.
In the Model Portfolio, therefore, we will sell one more stock,
Nabors Industries. Following FoxHollow's sell yesterday, this
increases our cash position to 31%. Nabors, like all oil drillers,
has come under selling pressure in recent days, and we want to reduce
our exposure to the sector.
Stocks still rated hold are Apache, Google, Kyphon, Petrobras, United
Therapeutics and XM Satellite Radio.
Stocks still rated buy are Nasdaq Stock Market and Netflix.
Timothy Lutts
Editor, The Cabot Market Letter
For questions regarding Cabot recommendations:
mailto:carol@cabot.net
Hi Pokersam ,I'm haveing a great day thanks for your wise
advise!! ken
PLSCRAIG, your wellcome !!
pokersam thanks for your daily!!!i'm still short and feeling releaved by todays action. thought i would need to go cash or long.but she broke down nicely today.more people going short again. ken