MASSIVE MOVE awaits tomorrow, wednesday for Dow, SP, Russell

Quote from silvermotion:

bernanke-on-box.jpg
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This is a great image! Perhaps you or someone else can make a similar one with Ben hanging from a helicopter...
 
Quote from EMRGLOBAL:

I hope you have no positions based on what you "think" the market will do tomorrow? thats gambling"
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another assnine post on ET. Hummm, I guess the word SPECULATOR no longer applies to the markets?

I mean, g-d forbid one goes long overnight with the "Thinking" that we will rally? Of course not.

I mean, the trading world never SPECULATES? fuck, they just churn and churn in and out of positions all day long, playing both sides, 100000 cards a day.

LOL

Fucking idiots.
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LOL!!!! Good stuff bro!

I think I should start posting stuff I hear in my daily life as a retail broker calling on investors, and would be's. The things I hear from them...:D

Here's one. I get a new retiree sent to me. He says, "ain't no way I'm going to put my retirement in the 'stalk' market to gamble it away! I'm looking at a trailer park (no shit) for rental income."

I thought I was going to piss myself as I was showing him to the door. Yes, I was nice about it. Even told him I would give him a call. Oh yes, he did it. He bought the trailer park. :confused: :D
 
Quote from increasenow:

3 items will move it:
Ben is speaking 10est
Durable goods orders 8:30am
New home sales 10est
...MASSIVE move awaits...HUGE...this is my opinion...
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Market is in a rally mode according to Investors Business Daily. Bullish for the first time since 2008.
 
Quote from HolyGrail:

I couldn't disagree more. I keep a bullish % index on 824 of the highest volume stocks. Typically an oversold situation is when the bullish % is less than 30% and an overbought situation is close to 70%. We are sitting at 37.76%
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How is this determined?
 
Sorry, I made an incorrect post and deleted it.

My bullish percent is calculated based on P&F charting techniques.

A chart is considered bullish if the last breakout pattern encountered was bullish (e.g. a double-top breakout formation). A chart is considered bearish if the last breakout pattern encountered was bearish (e.g. a double-bottom breakout formation).

The total number of charts that are bullish are then divided by the total number in the survey.

I used to do something similar to this with
% of stocks above 50ma
% of stocks above 100ma
% of stocks above 200ma
but I have found the former to be more reliable.
 
As an example, here is a small current P&F chart of Abbott laboratiories.

As you can see the last pattern on this chart was a triple bottom breakout. This chart would be bearish in my count
 

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Quote from HolyGrail:

As an example, here is a small current P&F chart of Abbott laboratiories.

As you can see the last pattern on this chart was a triple bottom breakout. This chart would be bearish in my count
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Hey that's pretty cool.

I never was able to figure out P&F charts. Maybe I should give it another go. Never know what might turn up.
 
Quote from day7793:

Market is in a rally mode according to Investors Business Daily. Bullish for the first time since 2008.
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still concerned that one series of ec report and combination of words will start massive selloff
 
It is puzzling to say the least that the market continues to rally even though econ data is worsening much faster than expected, housing continues to fall and the credit-crisis outlook hasn't materially improved. Can't complain though, there's a nice uptrend on the ES...
 
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