Dow Top Call - 11-yr top formation completing

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Hi DB!

So glad to hear from you! Don't worry I'm not going to gloat at going for a perfect score against you, when you tried to pick against me, what's the use. It happened. It's over. I made a lot of money since we last spoke DB and I went to Nevis! Great time. Now I'm back and spent a lot of cash and you might be surprised to know... I kind of agree the market feels weird right here.

Originally I peeled off some funds at 12,250 DOW and then quickly reinvested in names like LYB & FOSL & ASH & MELI. Now at 12,800 or so I am looking at other names that have not moved and I'm wondering... is the clock ticking.

I don't like big new and different Fed events that contain Q&A sessions... mostly only bad can come out of that. I ran my mind to think of anything that Ben could say tomorrow that could fire up the markets and I thought of one-- What if Ben said the QE2 has already been easing for some time and the wind down was ahead of schedule?

Some stocks have moved quite a bit and look way overvalued. If oil stalls and energy names fall, they will join their heavy cyclical pals and it seems to me coal names have stopped going up. Steel can't be very far behind. The agriculture trade seems off to me. Banks are boring and bad performers... yet here we are making a new Dow high sort of.

It's not a thrilling market. I ran through my checks this morning and came away buying Keynote Systems but it's a struggle to find an angle.

I would not be surprised one iota if we turn over on Wed. I'm trying to decide what to do with FOSL in particular as the price of gas has got to take a big chunk of potential sales away yet they report soon and what should be a great qtr... Timing is everything. As always.

Glad to see you back in the prognosticators chair DB.
My advice Buy KEYN @ $21.00 area and hope to take out the high about a buck above for a clean B/O tomorrow. Then with water under your wings we can look at some other ideas as the market rotates, stalls and then plunges.~ stoney
 
Dow Jones (weekly and daily) has today touched/penetrated the 78.6 Fib level shown in my weekly chart, thread opener.

Dollar Index's waves C = A has just a hair left to complete.

And voila, EurUsd (57.6% of DX) has just finished a Wave C = A today

Weapons cocked and ready. Now we drop down to the 60 min. realtimeframe and setup a plan of attack.

Next post has the details.
 


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As per instructions thus far LONG profits have been taken and we await the SHORT entry.

There is NO Short entry thus far.

See 60-min. chart above for clarity ....

When the Short fires, it will go thusly ....

(1) When support + 50 m.a. (blue) are broken, INITIATE Short.

(2) When 200 m.a. (green) is broken, ADD to SHORT.

(3) When all 3 trendlines shown (on Price and both indicators) are busted, ADD to SHORT.

Once the SHORT is initiated ALL STOPS go over the TOP of Price.
 
Some explanations of the scope of the CALL .....

Its ALL one market, i.e. its the

US Dollar versus the rest of the world instruments.

The Dow bows to no one entity on earth, but when in the presence of the US Dollar, he drops to one knee and bows his head.

Ditto for Crude Oil and Gold and Silver.

Coming up is the most intense upwave of the US Dollar. If you know anything about currency markets, you ought to know that currency trends are ferocious and and of significant duration. Since Dollar is the driver of the next sequence of events, I thought it appropriate to include him in a Dow Jones thread.

What Dow Jones STOCKS to short?

next post
 
Avoid all small stocks. They will disappear into oblivion rapidly.

Stick with the major ETFs, my preference is the Qs.

I would have loved to short BofA, C and AXP but these might all go bust and we might never get paid for our work.

So from the entire 1000s and 1000s of stocks I would go with only the Qs.

But I have one better than even the Qs and it is my favorite and I know it intimately.

Its EurUsd and I will be going Short soon.

In LIFE I am LONG the $ and have been so for years. All my threads since inception in October 2009 clearly state this.

For the billions of people who have been claiming how the $ has been getting killed, they ought to take a look at the weekly chart I provided - all the so-called killing and the 2008 low still holds - looks like a sideways move to me, a sure sign of strength and can't-be-killed so easily.
 
Quote from deadbroke:

I would have loved to short BofA, C and AXP but these might all go bust and we might never get paid for our work.
More...

why would you not get paid if they go bust? your counterparty risk is not the companies you have short position on.
 
DB it looks like we beat the number!

Here we go again just like last time with Crox and CAVM! This time you are on board!

How does it feel to crawl out of your bed and make some money for once instead of carping for the world to end!

Lets hope the market rewards us with price action and maybe I'll give you a rotate idea for your profits.

1 day. 1 score. That's stonedinvesting! ~ stoney
 
Keynote Systems Inc. (KEYN) : The provider of corporate Web-site effectiveness monitoring forecast third-quarter adjusted earnings of as much as 28 cents a share. Analysts surveyed by Bloomberg are estimating earnings of 21 cents a share on average.

...Looks like a 7 cent beat DB! We did it! Ok lets let the stock open and decide what to do. There's a good looking stock in the car parts field I'm looking at and of course I have another tech name for ya that should do well come earnings time.... Why don't you do some research and see if you can bring an idea to the table too. I'd like to see if any of the work I did with you last time around paid off. You should be less cynical which I see you are, quite a bit humbled and more polite which I see you are and still generally confused which I can see you are. ~ stoney
 
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