Spx 1400

yea nonlinear, agreed that is a good possibility. however with these strategic reads i am usual wary that things may not pan out as 'deep' as i may think.

remember we have had a good few weeks of rapid bidding, so things could make less of a bluffing range above 1400 and the sellers may hit it harder and faster than we expect. then again maybe they wont, i dont know just how much bearish size is sitting back waiting to pounce exactly. also i dont know their exact sentiments, perhaps they are too 'afraid' themselves of missing the next downleg to 'game' the market for too long.

that is why i shorted at 1423 today. i will take a stop out here if we restest 1425 on monday. and look to reenter later at 1440-1450. there is just too great a chance of sudden downmoves out of nowhere imo. the small stop out seems worth it.

ideally you are right. we may have a few days of range trading around 1400-1420. then a final hard false break out to 1450 ish before massive seeling.

i would like this alot, as i think the selling and move down would be ferocious. but as we know the market has a habit of ruining our best laid plans... ;)
 
Wanted to post this to see how accurate this buy signal actually is and how long before the last bear turns bullish....going to be interesting to see how this technial breakout stands out over the next few months...

Stocks Get Buy Signal From Charts; Volume Stays Low (Update1)

By Elizabeth Stanton
Enlarge Image/Details

May 2 (Bloomberg) -- The jump in the Standard & Poor's 500 Index above 1,400 for the first time since January indicates U.S. stocks may extend their seven-week rally, say analysts who make predictions based on trading patterns.

The S&P 500's 1.7 percent climb to 1,409.34 yesterday pushed the index up 11 percent from its 19-month low March 10. The gains sent the benchmark index for American equities 0.5 percent higher than the downward-sloping line from its October peak and closer to its 200-day moving average than at anytime this year.

Yesterday's advance ``is encouraging,'' said John Roque, managing director at New York-based investment bank Natixis Bleichroeder, who was ranked third among technical market analysts in Institutional Investor magazine's survey last year. ``The internal indicators we use are not so fantastic, but they're OK. They've all been improving.''

The Dow Jones Industrial Average also rose above 13,000 for the first time since Jan. 3 yesterday. U.S. stocks have erased almost half their losses since October, helped by seven Federal Reserve interest rates cuts and the central bank's $951.2 billion injection into the financial system.

The increase followed a record week for U.S. corporate debt sales and the best month for high-yield bonds in five years. The gap between three-month Treasury bill yields and the three-month London interbank offered rate, the so-called TED spread, shrank to 1.38 percentage points yesterday, from 1.47 percentage points the previous day.

The S&P 500 rose 0.6 percent to 1,417.69 as of 11:12 a.m. in New York.

Trading Declines

The sudden optimism must be tempered by the decline in trading last month, which suggests the rally may be fleeting, said Jeffrey de Graaf, senior managing director at ISI Group Inc. in New York. De Graaf has been the top-ranked technical market analyst in Institutional Investor magazine's survey the last three years.

The S&P 500's rise above 1,400 is ``meaningful at the margin,'' de Graaf said. ``It's how you get there. While the game is still on for the bulls, we haven't seen anything from our vantage-point yet that would say the secular story has changed.''

The number of shares changing hands on the New York Stock Exchange yesterday was 1.39 million, compared with an average of 1.57 million over the past year. Volume hasn't exceeded 1.5 million shares since March 31.

Of the 500 companies in the S&P index, 430 rose yesterday. A new high for market ``breadth,'' which peaked this year at 489 on March 18, would also inspire more confidence, de Graaf said.

The Fed's Open Market Committee lowered its benchmark rate by a quarter point to 2 percent this week, extending the most aggressive reductions in two decades.

Bear Bailout

Combined with the takeover of Bear Stearns Cos. by JPMorgan Chase Co., Fed Chairman Ben S. Bernanke provided relief to investors stunned after banks reported $318 billion of losses and writedowns from mortgage-related securities and leveraged loans.

The S&P 500 has risen 9.4 percent since the Bear Stearns bailout. Finance company shares climbed the most, gaining 16 percent on average. Citigroup advanced 31 percent on the New York Stock Exchange and Merrill Lynch & Co. is up 20 percent.

High-yield bonds in April rallied the most since 2003. Company debt rated CCC or less by S&P returned 5.9 percent, compared with 4.2 percent for all junk bonds, Merrill data show. Junk bonds are rated below Baa3 by Moody's Investors Service and BBB- at S&P.
 
Quote from stock_trad3r:

SPX will clear 1400 easily and go higher from there. The doouble bottom which is an extremely accurate TA signal was made at 1250-1270
More...


May 2, 2008


Stocktraader3 was correct. We sailed passed 1400 and broke the downward trend line from October high. There is not much to do but keep rallying higher from here.

I admire his vision and Technical know how posted on April 25, 2008.

BUY THESE STOCKS FOR MAXIMUM GAINS

GOOG, AAPL, BIDU, RIMM, DRYS, EXM, FXI, PTR, GNK, POT, MOS, AGU, RIG, MTL, SOHU, LDK, FSLR, MA

.... make a killing while you can..
 
Quote from HedgefundTrader2:

May 2, 2008


Stocktraader3 was correct. We sailed passed 1400 and broke the downward trend line from October high. There is not much to do but keep rallying higher from here.

I admire his vision and Technical know how posted on April 25, 2008.

BUY THESE STOCKS FOR MAXIMUM GAINS

GOOG, AAPL, BIDU, RIMM, DRYS, EXM, FXI, PTR, GNK, POT, MOS, AGU, RIG, MTL, SOHU, LDK, FSLR, MA

.... make a killing while you can..
More...

You are stocktrader...aren't you?
 
Quote from BlackBison:

yea nonlinear, agreed that is a good possibility. however with these strategic reads i am usual wary that things may not pan out as 'deep' as i may think.

remember we have had a good few weeks of rapid bidding, so things could make less of a bluffing range above 1400 and the sellers may hit it harder and faster than we expect. then again maybe they wont, i dont know just how much bearish size is sitting back waiting to pounce exactly. also i dont know their exact sentiments, perhaps they are too 'afraid' themselves of missing the next downleg to 'game' the market for too long.

that is why i shorted at 1423 today. i will take a stop out here if we restest 1425 on monday. and look to reenter later at 1440-1450. there is just too great a chance of sudden downmoves out of nowhere imo. the small stop out seems worth it.

ideally you are right. we may have a few days of range trading around 1400-1420. then a final hard false break out to 1450 ish before massive seeling.

i would like this alot, as i think the selling and move down would be ferocious. but as we know the market has a habit of ruining our best laid plans... ;)
More...



What reason do you think market has to go down?

You will run out of account values before Feds run out of bullets. This is a Fed engineered rally, too powerful to handle.

1/Why should the market go down when there is no recession?

2/Why should the market go down when job numbers are coming better?

3/Did you see the market smiled today ?

You are like an old hag addicted to sucking on wine bottle early in the morning and lighting a cigarette first thing out of bed.
 
Quote from HedgefundTrader2:

No I am not stocktrader3. Stop hallucinating after a severe bout of depression anxiety.
More...

That sounds exactly like something stocktrader would say. Your languauge, word structure, topics...everything sounds exactly stocktrader. So, I'm 100% that you are stocktrader trying to pump himself up by using another alias.

BUSTED!
 
I'll also add that I think day and nonlinear are also stocktrad3r. All three of them talk about that "new world" market crap and how recessions are impossible and that only bull markets happen. Their language, sentence structure and topics are all identical.

So, either all 4 are the same person, or stocktrad3r runs a religious cult where he has converts:D , or they all know him personally and talk about what they are going to troll the board with.
 
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