THE FUTURE

THE FUTURE
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Friday, July 23, 2010

JULY 23rd EKG


Contrary to popular belief, today seems to POST NO RISK to the bullish scenario, but doesnt mean
to the moon either

Like April 26th we could still see one more pop higher on JULY 26th to the 39 HOUR cycle at 10am

more later
Jay

56 comments:

astro8 said...

thanks Jay gonna add to short position Monday i like your 10am is Saturn Uranus opposition

AS said...

Jay - what do you mean by no risk to bullish scenario ?

So you are saying we are bullish into next week ?

KAVIAAR said...

yesterday you were bearish for today, and today "no risk to bullish scenario"... ? and the 27 & 28 are also supposed to be very bullish.....

this must mean we rally to the moon

AS said...

Jay - this is what you had mentioned:

http://2.bp.blogspot.com/_tOEUlOjbtCU/TD8HaiLqXhI/AAAAAAAABbo/MYkC34CEcpY/s1600/Capture1.JPG

Are you still thinking the same or do you think this has inverted as the sharp move down from 15th did not happen ...

KAVIAAR said...

http://3.bp.blogspot.com/_tOEUlOjbtCU/TEb20wmPRoI/AAAAAAAABc4/A4bz3LM8OJM/s1600/Capture.PNG

probably inverted and we are melting up, and not down

go long as soon as possible

this is a new bull market.... too many bears on forums, blogs...ignore them

new all time highs will come soon

Abdullah said...

European stress tests is at noon. It will be interesting to see what they say and how we all react. Could they use it as the "excuse" to start the next leg down? They could and we have to watch for that. Or, they could cheer it, we pop higher, we race to my "Upper levels" 10450 to 10480 and then "YANK" goes the rug.

KAVIAAR said...

European stress tests results will be great... rally time!!! can't wait... long & strong

RickyBobby said...

I'm getting 3 day cycle SELL signals right now.

KAVIAAR said...

RickyBobby, your signals are inverted. BUY is what you have to do here.... keep feeding THE BULL

Abdullah said...

looks like we are putting 100+ points now.

Abdullah said...

VECO looks interesting here

KAVIAAR said...

only 7 small banks failed for the test

Hypo Re (GERMANIA), Diada, Unnim, Espiga, Cajasur, Banca Civica (ESPANIA), AteBank (GREECIA)

now we can rally some more

RickyBobby said...

I got a nice short position profit from the "stress test". LOL

shake & bake

KAVIAAR said...

hope you covered already

JUFU said...

stress tests were lame. didn't include soverign debt that was classified as hold till maturity, instead only those in the trade books...

and then what happens? banks move soverign debt into hold till maturity books...

all lies!

Please note the above has nothing to do where the market will go...for now.

RickyBobby said...

JUFU

thankyou!

I cannot take any reder seriously who hypes and bashes based on news.

That's an amateurs mugs game.

RickyBobby said...

I meant to say:

"Icannot take any TRADER seriously who follows news events."

That's a clear sign of a rank amateur.

Abdullah said...

What a waste of time. The stress tests were really just like ours, baloney. Only 7 of 91 banks failed? ONLY 1 IN GREECE? Give me a break.

benjoyce said...

but the news events act as triggers.

economic releases can blow thru technicals easily.

KAVIAAR said...

at the end of the day, i will make money... you will loose money

KAVIAAR said...

time for the bears to raise the white flag and move on

RickyBobby said...

How can I be losing money when I'm long.

I can make up to dozen trades a day. Everybody here knows that.

I got my profit off the short this morning . That was a daytrade.

I will not announce my trades for your benefit.

Judging by you're immature remarks I can surmise you only paper trade.

hannahzzz said...

Let's keep this forum one where we share opinions nicely. We are all on the same side really. Save the peacock feather spreading for your weekend poker night please.

RickyBobby said...

Benjoice

I suppose some can. But mostly it's an illusion.

Anyway. I NEVER use them. If I did I'd go crazy minding all kinds of things and being distracted from my technical work.

Abdullah said...

Watch the SPY over 110.32.. it could go well

RickyBobby said...

hannahzzz

Impossible. There are too many emotional cripples on the blogsphere claiming to be traders.

AS said...

Guys - just assume that the forecast are inverted and move along ... lesson learnt take your losses ..

it looks like jay's forecast has inverted this week and that means a rip next week ... based on the link for the monthly chart i posted.

Ricky - yest you mentioned that you expected yest gains to be wiped out - along with Jay ... hence a little surprised to hear you saying that your shorts are a day trade ...

AS said...

Jay - I wish you were here to post your thoughts today ...

RickyBobby said...

AS

u have a point. And I need to learn to keep my thoughts to myself.

By the first hour today I knew where my cycles stood and I use over 20 different cycles in harmonious syncronicity.

So the problem is making predictions or probabilities without follow up. Besides my system is reactionary, so what am I doing making predictions anyway?

Oh well I like to talk.

AS said...

Ricky :)

Nice of you to respond ... just burnt badly as I didn't use stops based on the monthyl charts and my view of a correction / dip taking place ....

moving from a +30% to -45% is not nice specially when you have a few hundred left in your trading account ...

AS said...

Jays prediction was to end at LOD ... looking at how we are progressing that seems unlikely ... looks more like a HOD to me ...

I think this blog being over-publicised on those other sites ... means the moves are being reversed on what is being predicted.

RickyBobby said...

Not going to post here anymore.

It was civil here intil KAVIAR showed up.

I don't need this chit.

Reza said...

Ricky
Email then among ourselves

hannahzzz said...

I hope you keep posting anyway Rik.

Reza said...

I am still wondering how we close positive today. The rally came too early

Abdullah said...

"... we race to my "Upper levels" 10450 to 10480 and then "YANK" goes the rug."

100+ very possible today or at least close to it.

10450-10480 may take place Mon/Tue

RickyBobby said...

BENJOYCE

A note about "news triggers".

U know I suppose when so mamy traders are aware of a news event it may be that it becomes a self-fulfilling prophecy and everybody starts scrambling to buy or sell depending on their bias or traders sit on the sidelines running up to the "event" like so many do on FED day . So it creates some volatility like we saw today but in the end the cycles or your Elliotwwaves if u use those, just continue on their merry way.

RickyBobby said...

Do u guys see the potential negative divergence on the Daily chart. Something to keep yur eye on as price moves up.

KAVIAAR said...

seems like RickyBobby is one of those traders that is always on the right side of the trade... easy to say so....

admitting defeat is a lot harder... AS

rose2797 said...

Kaviaar: I think stop it. Only thing you r doing is bringing negativity to the board

Reza said...

Closing price pretty much confirmed
109.30 area

KAVIAAR said...

i didn't start it rose2797

rose2797 said...

Kaviaar: I think if yuo didn't start it, just ignore it. Is this a trading blog or bunch of kids

Reza said...

Look at AMZN

KAVIAAR said...

watch 1102 in the after hours, that was my target for today

AS said...

Kaviaar - if it was, then that's great, pls share your thoughts and analysis instead of going after someone else ...

We try to help each other on the blog instead of point fingers ...

rose2797 said...

AS, thanx for saying that. This is what I was trying to say to Kaviaar

E said...

Rose2797, It was RickyBobby who started the trouble when he posted
'"I cannot take any TRADER seriously who follows news events."
That's a clear sign of a rank amateur."'

I can't blame KAVIAAR for responding in kind. People who can't take criticism shouldn't dish it out.

KAVIAAR said...

that's right E

thanks for your support

Zander said...

It's time for the BULL!

I'm urging all my family members and friends to run to their bank and BUY LONG the stock market!

The BULL is back!

new highs in a month. GUARANTEED!

Abdullah said...

The main reason that the market is moving higher is to completely confound and defeat the short sellers, that had seen a technical pattern setting up in the market and went short. Remember, the market isn't there to make you money, the market is there to make itself money. It does that by defying logic, defying chart patterns, and going the opposite direction of the bulk of the money.

hannahzzz said...

I agree with you Abdulla. When I start seeing panic buying or selling in the blogosphere it seems to me (I am discovering) it's time to pause and not join the crowd. Recall the recent "death cross" and head and shoulders a few short weeks ago. We shall see...

Abdullah said...

For right now it still seems to me that this move is "crush the shorts" action. Why? Because of the speed of it.
When the market just wants to bury the shorts and the chart slaves, it does it ferociously. Like 400 points in 3 days kind of ferocious. Like we just got. Then, out of the blue it just rolls over and falls hard. Really hard.

for next week, we may continue to trend higher Mon/Tue. But, come Wed.... if it's still "up" I'd be really really cautious. Wednesday's have a way of "reversing" on you.

hannahzzz said...

Good commentary Abdullah. Thanks.

rrman said...

Helge's long term chart
http://www.cyclelt.com/SEIR.htm

Zander said...

I think anyone hoping for new lows this year will be very disappointed.

The powers that be will kill the bears. I have absolute faith that the FED and Obama will make the right decision and prevent anymore tears to babyboomer retirement accounts.

I was speaking with my banking investment manager and she said they saw no more stock declines for the forseeaable future. I like her a lot and I trust her, afterall she takes care of my mortgage nad insurance and has served me well.