Dow TOP call - 10yr top formation done
- Thread starter deadbroke
- Start date
- Status
It's not clear at the moment the likelihood of next move as the Daily chart is certainly looking more bullish than a few days ago, bulls are managing to keep price above 50 moving average, but looking at the Weekly chart there is another picture which still supports OP's call as it is at the moment. Have a look:
http://www.dormantrading.com/Trader...);SMA(200);SMA(260);SMA(400);&type=CANDLE&a=W
If markets sell off from here then it will be 3rd lower top on weekly chart & it will make a much stronger case to break 1000.
http://www.dormantrading.com/Trader...);SMA(200);SMA(260);SMA(400);&type=CANDLE&a=W
If markets sell off from here then it will be 3rd lower top on weekly chart & it will make a much stronger case to break 1000.
Quote from deadbroke:
from Business Insider, July 15
61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
24 percent of American workers say that they have postponed their planned retirement age in the past year
Point #1 = a bullmarket in Americans living from paycheck to paycheck.
Point #s 2+3 = fuel to keep #1 raging like an inferno.
And you called me a domestic terrorist because I wanted no part of such stupidity?
>>>> GOOD MORNING EVERYONE!
61% of Americans live paycheck to paycheck is exactly why the Gov has extended the unemployment benefits-- that money makes it way right back into the economy, the Gov actually only pays about 40 cents on each dollar maybe 60 cents worse case scenario-- they grab a lot back on the taxes for phones, cable tv, etc.
24% of Americans have postponed their planned retirement.
and 100% of Greece has done the same! It's old news that we have to raise our retirement age 10 years, aside from helping the budget these geezers are insisting on working as the health is much better than in the old days when everyone kicked over and died at 70.
As usual deadbroke has brought absolutely nothing to the table.
lets go over the ET groud rules as I see them- each post must have a point of view. Check. each post must be entertaining and have a sense of humor. Check. each post must have at least one idea that can make folks sitting at home money......
The silence on the third rule of posting is deafening. Anyhoo, that's where I come in. It's a little past 7 in the morning. I've had my first 4 cups of coffee and there is a glistening sweat to my near naked body. Now I hit the charts back later.~stoney
Well folks today is shaping up as some tough picking.
My thought process is as follows. i am listening to the band JAMES very loud. Doing China Girl now b side cover! This band is making a comeback I'm seeing them in Sept. At one time they were the logical next step after the Stranglers and Joy Division, the Smiths etc...
Lets do this!
1) There is a slimmed down energy bill. Not sure what that does for WPRT today but it's REFR that I'm interested in. REFR does windows that magically cloud over and they are used in autos and buildings. It seems at first blush that there is a lot of Obama $'s slated for green building. These windows save energy! Lets watch REFR and APOG!
2) probably the best chart I have found is FNSR. take a 5 year peek. Shhhhhhh. She says. Sheeeeeeeeeeeeeesh. She says.
3) Of course I find myself drawn to a low price name GAME. This is the Shanda spin off. They have a hot new dragon game and it's based on the play for free buy stupid swords and stuff... That's a business plan that works on the net'.
4) PPO- We already own it but I noticed it finally kissed $26 causing Real Money to panic and sell the name. Once we clear $28 it will be clear sailing for this name.
5) AKRX- What can I say this stock is the one that I just never buy. Steady as a rock and boring as heck.
6) MWW- Monster. @ $11.30 I began charting and in just the last week or so thye chart has perked up now $13.36. I had a shot at a large lot at $12.08 and I probably should have took it. Earnings are Thursday and that's problematic for me as they could easily barf out another qtr.
7) CTFO is exactly like AKRX every time you look at it the chart looks great yet there is this persistent snail like quality which is highly annoying.
8) KEM- Kind of an industrial name. They are through earnings watching.
9) NLST- I don't know much about this name they play in the same ball park as STEC and EMC and IBM which didn't have the best earnings. Stock pops up on my scans though quite a bit. watching.
10) While we are saving the world with REFR, might as well remember plastic bag that dissolves into the earth safely MBLX... I have a long history with this name. watching.
11) ERTS so long a dog. Why am I looking at this name? Lost big on THQI last year.
12) Lastly a stock that already reported but really nailed it UTEK. gap up on earn $17 to $19 and looks like it could go higher still.
Jose-based Ultratech (NASDAQ:UTEK) reported sales of $31.6 million, up from $18.6 million during the second quarter of fiscal 2009.
For the first six months of 2010, Ultratech reported sales of $59.1 million compared to $44.3 million in the first six months of 2009. Net income was $5.6 million, or 23 cents a share, compared to a loss of $300,000, or a penny a share for the first half of 2009.
CEO Arthur W. Zafiropoulo said the improved financials "reflect the current demand for Ultratechâs products in the advanced packaging, laser processing and high-brightness LEDmmarkets coming from both integrated device manufacturers and foundries.â
At July 3 Ultratech had $173 million in cash, cash equivalents and short-term investments.
>>>> Well that's where my head is at 8:44.
>>>> Lets sparkle and see how we feel about things after that.
>>>> Right now I feel myself leaning towards GAME, UTEK & REFR which is not going to make my fund manager happy.
>>>> For conservative investors- Monster & Finisar MWW & FNSR.~stoney
My thought process is as follows. i am listening to the band JAMES very loud. Doing China Girl now b side cover! This band is making a comeback I'm seeing them in Sept. At one time they were the logical next step after the Stranglers and Joy Division, the Smiths etc...
Lets do this!
1) There is a slimmed down energy bill. Not sure what that does for WPRT today but it's REFR that I'm interested in. REFR does windows that magically cloud over and they are used in autos and buildings. It seems at first blush that there is a lot of Obama $'s slated for green building. These windows save energy! Lets watch REFR and APOG!
2) probably the best chart I have found is FNSR. take a 5 year peek. Shhhhhhh. She says. Sheeeeeeeeeeeeeesh. She says.
3) Of course I find myself drawn to a low price name GAME. This is the Shanda spin off. They have a hot new dragon game and it's based on the play for free buy stupid swords and stuff... That's a business plan that works on the net'.
4) PPO- We already own it but I noticed it finally kissed $26 causing Real Money to panic and sell the name. Once we clear $28 it will be clear sailing for this name.
5) AKRX- What can I say this stock is the one that I just never buy. Steady as a rock and boring as heck.
6) MWW- Monster. @ $11.30 I began charting and in just the last week or so thye chart has perked up now $13.36. I had a shot at a large lot at $12.08 and I probably should have took it. Earnings are Thursday and that's problematic for me as they could easily barf out another qtr.
7) CTFO is exactly like AKRX every time you look at it the chart looks great yet there is this persistent snail like quality which is highly annoying.
8) KEM- Kind of an industrial name. They are through earnings watching.
9) NLST- I don't know much about this name they play in the same ball park as STEC and EMC and IBM which didn't have the best earnings. Stock pops up on my scans though quite a bit. watching.
10) While we are saving the world with REFR, might as well remember plastic bag that dissolves into the earth safely MBLX... I have a long history with this name. watching.
11) ERTS so long a dog. Why am I looking at this name? Lost big on THQI last year.
12) Lastly a stock that already reported but really nailed it UTEK. gap up on earn $17 to $19 and looks like it could go higher still.
Jose-based Ultratech (NASDAQ:UTEK) reported sales of $31.6 million, up from $18.6 million during the second quarter of fiscal 2009.
For the first six months of 2010, Ultratech reported sales of $59.1 million compared to $44.3 million in the first six months of 2009. Net income was $5.6 million, or 23 cents a share, compared to a loss of $300,000, or a penny a share for the first half of 2009.
CEO Arthur W. Zafiropoulo said the improved financials "reflect the current demand for Ultratechâs products in the advanced packaging, laser processing and high-brightness LEDmmarkets coming from both integrated device manufacturers and foundries.â
At July 3 Ultratech had $173 million in cash, cash equivalents and short-term investments.
>>>> Well that's where my head is at 8:44.
>>>> Lets sparkle and see how we feel about things after that.
>>>> Right now I feel myself leaning towards GAME, UTEK & REFR which is not going to make my fund manager happy.
>>>> For conservative investors- Monster & Finisar MWW & FNSR.~stoney
His " portfolio " what are you smoking! You mean his pile of index cards?
Ok it's interesting to see how the thoughts change after sedation. I'm more drawn to Monster than anything now. I just sent an email to the hedge fund to see if they are presently in the name in any of their funds. The Beige book today, if it's stable, might be all I need to finally place this bet. I've been watching for a long time.
Ok time for a hot bath.~stoney
Ok it's interesting to see how the thoughts change after sedation. I'm more drawn to Monster than anything now. I just sent an email to the hedge fund to see if they are presently in the name in any of their funds. The Beige book today, if it's stable, might be all I need to finally place this bet. I've been watching for a long time.
Ok time for a hot bath.~stoney
Well folks today was very instructional. To me and you all.
I went with KEM @ $3.39 Usually I buy 1000 shares no matter the price of the equity in an attempt to force my sexy stuff to my online accounts but I've told them to do a 3/4 position I'm not sure what that equates too probably 3000 or so.
TOP 3-
I began looking hard at UTEK it has a very steep angle of ascent. They have broken through significant long term resistance I like this name. I may still do this tomorrow. It needs to pull back $1
GAME is very tempting the chart is unfolding amongst a backdrop of very bad analyst reviews.
FNSR is the other one it's too close to a target and so I hope to catch this name on swing down to $15.90 or so at $17.46 it just doesn't seem right- Although I firmly see a share price at $21-$22, it's all in the timing.
The timing for me said start with KEMET.
I hope this all helps and you stock investors out there realize that you can stray away from the computer now and then and still get a good trade done.
I'm in the mood for a stiff drink and then a return to check my blood work (One logs on with a secret code now to get these evils)
Just for the record I sold RURL it's looking toppy and we had a nice gain. I also sold SMOD which I'm not sure I mentioned here but if I did it's gone been treading water. PPO is problematic, after the volatility died down it has picked up badly in light of new weak economic numbers - as a ST trade I'm considering 500 @ just under $24- swing trade to $28. But first that drink. After being $26 a day ago I need it!
Talk to you later~stoney
WATCH LIST: : UTEK / GAME / FNSR /
I went with KEM @ $3.39 Usually I buy 1000 shares no matter the price of the equity in an attempt to force my sexy stuff to my online accounts but I've told them to do a 3/4 position I'm not sure what that equates too probably 3000 or so.
TOP 3-
I began looking hard at UTEK it has a very steep angle of ascent. They have broken through significant long term resistance I like this name. I may still do this tomorrow. It needs to pull back $1
GAME is very tempting the chart is unfolding amongst a backdrop of very bad analyst reviews.
FNSR is the other one it's too close to a target and so I hope to catch this name on swing down to $15.90 or so at $17.46 it just doesn't seem right- Although I firmly see a share price at $21-$22, it's all in the timing.
The timing for me said start with KEMET.
I hope this all helps and you stock investors out there realize that you can stray away from the computer now and then and still get a good trade done.
I'm in the mood for a stiff drink and then a return to check my blood work (One logs on with a secret code now to get these evils)
Just for the record I sold RURL it's looking toppy and we had a nice gain. I also sold SMOD which I'm not sure I mentioned here but if I did it's gone been treading water. PPO is problematic, after the volatility died down it has picked up badly in light of new weak economic numbers - as a ST trade I'm considering 500 @ just under $24- swing trade to $28. But first that drink. After being $26 a day ago I need it!
Talk to you later~stoney
WATCH LIST: : UTEK / GAME / FNSR /
Hey guys, you gotta see this ....
I beat Professor Charles Bassetti again on GOLD. Who is the Prof.? Heck, he was a student of John Magee, the original author of the TA bible. Prof. now is the editor of the Bible for the last few editions. I learned a great deal from the Prof. - in fact I'm still planning to take the seminar that he teaches at Golden Gate Univ. in San Fran., when I can find the time to fly back to depressing America ..
Another thing about charles - he is probably the best trend trader in existence, outclassing even the turtles and Ed Sekota. He uses no Elliott and in fact applies only the stuff in the bible, TA of stock trends, 9th ed. - this is also my bible. Lots of respect for the Prof. We emailed back and forth alot of Q&A upto about a year and a half ago. Of course he has 40+ years experience, mine is only 10 months, so any win against him is likely to be evanescent at best; still I'll take it.
See his post to his subscribers today, "We are partially hedging our gold positions with GLL as this looks like negative developments to us"
-----------------------------
I beat Professor Charles Bassetti again on GOLD. Who is the Prof.? Heck, he was a student of John Magee, the original author of the TA bible. Prof. now is the editor of the Bible for the last few editions. I learned a great deal from the Prof. - in fact I'm still planning to take the seminar that he teaches at Golden Gate Univ. in San Fran., when I can find the time to fly back to depressing America ..
Another thing about charles - he is probably the best trend trader in existence, outclassing even the turtles and Ed Sekota. He uses no Elliott and in fact applies only the stuff in the bible, TA of stock trends, 9th ed. - this is also my bible. Lots of respect for the Prof. We emailed back and forth alot of Q&A upto about a year and a half ago. Of course he has 40+ years experience, mine is only 10 months, so any win against him is likely to be evanescent at best; still I'll take it.
See his post to his subscribers today, "We are partially hedging our gold positions with GLL as this looks like negative developments to us"
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for my call on gold ....
On 6-20-2010, turned out to be the day of the top in Gold
(1) Oh, and about gold, don't worry, I'll have you clowns buying it at $250 and then we'll ride it to $10k together, no in and out trading, just one buy and hold. meaning gold top is so close I can smell it!!!!
see page 6
http://www.elitetrader.com/vb/showthread.php?s=&threadid=168825
(2) posted 6-26-2010 on page 6 of 8 towards bottom of page with clearly marked charts on quarterly, monthly, daily, 1H, 5-min. (try not to get distracted by the pussy pics) (this was supremely close to the top)
http://www.elitetrader.com/vb/showthread.php?s=&threadid=184014&highlight=Gold
SHORT on daily close below $1214. First target = $1046
Gold 1H Short on close below $1248
Hi-Risk ... could backfire = only for super aggressive nimble folk. Gold 5-min. timeframe Short on close below $1252
On 6-20-2010, turned out to be the day of the top in Gold
(1) Oh, and about gold, don't worry, I'll have you clowns buying it at $250 and then we'll ride it to $10k together, no in and out trading, just one buy and hold. meaning gold top is so close I can smell it!!!!
see page 6
http://www.elitetrader.com/vb/showthread.php?s=&threadid=168825
(2) posted 6-26-2010 on page 6 of 8 towards bottom of page with clearly marked charts on quarterly, monthly, daily, 1H, 5-min. (try not to get distracted by the pussy pics) (this was supremely close to the top)
http://www.elitetrader.com/vb/showthread.php?s=&threadid=184014&highlight=Gold
SHORT on daily close below $1214. First target = $1046
Gold 1H Short on close below $1248
Hi-Risk ... could backfire = only for super aggressive nimble folk. Gold 5-min. timeframe Short on close below $1252
this post is to show clearly how I fcked up a perfectly good call temporarily by trying to be too smart and screw around with the 5-min. and 1H timeframes AFTER the top was already in. the correct thing to do was to switch to 4H and Daily.
see towards end of page 8 of 8
posted 7-14-2010
Take SHORT profits call on Gold @ $1199 and go to sidelines.
--------------------------------------------------------------------------------
Slamdunk!!
(basis is either 1H or 5-min. .... now on sidelines)
http://www.elitetrader.com/vb/showthread.php?s=&threadid=184014&highlight=Pattaya
see towards end of page 8 of 8
posted 7-14-2010
Take SHORT profits call on Gold @ $1199 and go to sidelines.
--------------------------------------------------------------------------------
Slamdunk!!
(basis is either 1H or 5-min. .... now on sidelines)
http://www.elitetrader.com/vb/showthread.php?s=&threadid=184014&highlight=Pattaya
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