The Surf Report

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Quote from marketsurfer:

thanks. where does your system indicate support? every big move up eventually has pull backs.

surf
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6460 is the Support area.
The higher we go up here the less likely that are going to take that area out but we will see a directional move to test support. A guess would be the 6900 or below area but the direction is what is important not the exact price . . . and it is beginning to set up now.
 
Nailed the day trade today--hope you profited handsomely.


regards,

surf


The Federal Reserve shocked the market by keeping interest rates unchanged and injecting an additional $1 trillion dollars to buy up long term Treasuries and guaranteeing mortgage debt. Stocks, after trading down for most of the day, exploded up on the news with a nearly 300 point swing in the DJIA. Great news from the automobile front that used car sales and prices were on the upswing further bolstered the optimism sweeping the market. The DJIA closed up +90.88 to 7486.58, the Nasdaq added +29.11 to 1491.22 and the S&P 500 increased by +16.23 to 794.35.

E*Trade (ETFC | Quote | Chart | News | PowerRating) - Soared 32.26% or 0.33 cents to $1.24/share after stating that mortgage defaults were decreasing.

General Mills (GIS | Quote | Chart | News | PowerRating) - Fell 10.88% or $5.84 to $47.80/share upon sharing that it will miss analysts estimates this year.

MetLife (MET | Quote | Chart | News | PowerRating) - Climbed 19.87% or $4.26 to $25.46/share after being upgraded to a buy by Bank of America.

Alcoa (AA | Quote | Chart | News | PowerRating) - The biggest loser in the DJIA falling 2.15% or 0.12 cents to $5.47/share after advising it would cut dividends and sell stock.

Oil added 1.02 cents to $49.30, Gold added $27.70 to $889.10 and the VIX fear index fell 1.79 to 40.06.
 
The bottom is in and the NEW BULL has started as expected and forecast here. The next level of resistance on the DJIA is 7777.

Suggest holding longs. no changes.


surf
 
SURF ALERT


MONSTER MONSTER MONSTER

THE cash djia stopped right at 7775-- two points below our target of 7777. SUGGEST CLOSING LONG HERE

GOING FLAT.

awaiting next signal
 
Quote from marketsurfer:

our models nailed the upper side of the this move at 7777 cash djia. suggested flat here-- awaiting next entry signal.

best wishes,
surf
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Which model?

The dart board or the quarter ?
 
Quote from marketsurfer:

our models nailed the upper side of the this move at 7777 cash djia. suggested flat here-- awaiting next entry signal.

best wishes,
surf
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Whose model??


ur a trader???:eek:
 
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