Technical Reversal

Quote from chrismontez:

Next week is when the big follow thru days should occur for this to have any teeth. I don't usually use charts, but that is a classic head and shoulders on the s&p with alot of room to the downside.
More...

Yep, possible H&S alright. All this crazy volatility is characteristic of a market reversal. Stocks lost a lot of credibility this week. We're probably in a Bear but nothing in this game is a sure thing.

Gov't and FED meddling like crazy to stall the natural process. There's a possibility they'll succeed.
 
Quote from taipan77:

This is nonsense. The only thing that happened was a short covering rally. When we were down over two hundred points today people decided to take profits for now since we've had alll down days the last week and half and the odds of it to keep going down without a rally were narrowing. My take is that we'll probably go up another hundred or so and that's when you can short again or if we hit the 9 ema. Remember like Livermore would say that the path to least resistance is down. All bad new we be greatly felt by the market. All good news will be discounted.
More...


With Feds on a rate cutting binge and Congress pushing up an economy stimulus package at fast speed, I would not like to be a burnt out charcoal colored bear at this point.

The thing is people have seen you hands and the fear has turned to the point of hope. I donot expect much courage from my fellow Americans as they are still wallowing in "post holiday depression syndrome " .


..But some of us have the nerve to stomp out these lying conniving Wallstreet cockroaches, and continue trading to the upside defying your weak tactics.
 
Quote from aus_SPIder:

its definately a bear. - intermediate highs brokern <200day and 200 turning down.

short squeeze rally on the Hedge funds shorted to the max. happened plenty in 00-03 for those that were round then
More...

Have you taken your PROZAC today? Get a glass of water and swallow that orange pill.
 
Quote from S2007S:

agree....


I was listening to kudlow and they were talking about a potential bottom???????? They sounded like fools.


The bottom is not yet in, I think the dow sells off even harder in the coming weeks closing somewhere below 11500. Im not falling for this rally just yet, Im actually going to add on some shorts and inverse funds going into Friday morning, MSFT could give the market a lift if earnings are good which I hope they are because I want to go back on the short side very soon.
More...


Keep adding your shorts and become a burnt out charcoal colored bear hanging by the window sill peeing in your bank account.
 
Quote from dr. fill:

Yep, possible H&S alright. All this crazy volatility is characteristic of a market reversal. Stocks lost a lot of credibility this week. We're probably in a Bear but nothing in this game is a sure thing.

Gov't and FED meddling like crazy to stall the natural process. There's a possibility they'll succeed.
More...


Gov't and Fed are running the country right, they donot run the markets.

You just donot like your dark spell broken, its lot more comfortable in that dracula hatch of yours without a beam of sunlight, YES ?
 
If these S&P's don't get above that 1370 as fast as they broke down from it we will see new lows. It's classic edwards and magee or most pivot point analysis for a swing low that is broken to get tested before heading lower. People are talking 1406, I don't see more than 1370, but who knows...TOugh to hold contracts long overnight in this environment, the good news is out, but is all the bad?
 
Quote from day7793:

Gov't and Fed are running the country right, they donot run the markets.

You just donot like your dark spell broken, its lot more comfortable in that dracula hatch of yours without a beam of sunlight, YES ?
More...

No. The 75-point cut was a direct response to -500 futures. The FED is using market action as an indicator of confidence and as a means of affecting confidence.

Pension funds are heavily invested in the markets. If the markets get creamed then millions of retiring boomers depend on Gov't support. There is no distinction between 'the country' and 'the markets'.

I want the markets to go up, but I'm aware of the real presence of danger in the current situation. Please note that I allow for the possibility that FED/Gov't intervention and manipulation may succeed.

All this volatility reflects the uncertainty about the next few months. The stakes are very high.
 
Quote from day7793:

Keep adding your shorts and become a burnt out charcoal colored bear hanging by the window sill peeing in your bank account.
More...



:D


will do....


bottom is not in....
 
Well,

Looks like another "sunny market day"....I was expecting a sharp steep rally, and no, I am not participating. I think all the bad news is in for now. However, as soon as this rally is over, I will go short.

I think the safest way to play this market is selling into rallies.



:cool:
 
Quote from day7793:

Gov't and Fed are running the country right, they do not run the markets.
More...

Quote of the Week.

Wish they didn't have term limits . . . George Bush is the GREATEST U.S. President, ever!!!

Donald Rumsfeld (Secretary of Defense) was the GREATEST !!!

Colin Powell (Secretary of State) was the GREATEST!!!

Michael Chertoff (Homeland Security), was the GREATEST!!!

Christine Todd-Whitman (EPA), was the GREATEST!!!

Alberto Gonzales (Attorney General) was the GREATEST!

And now Ben Bernanke, the GREATEST Fed Chairman ever!

TOTAL INCOMPETENCE by literally every single BUSH appointee.

:(
 
You must log in or register to reply here.
Back
Top