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.
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.
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 ...
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?
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.
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.
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.
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...
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.
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.
thanks Jay gonna add to short position Monday i like your 10am is Saturn Uranus opposition
ReplyDeleteJay - what do you mean by no risk to bullish scenario ?
ReplyDeleteSo you are saying we are bullish into next week ?
yesterday you were bearish for today, and today "no risk to bullish scenario"... ? and the 27 & 28 are also supposed to be very bullish.....
ReplyDeletethis must mean we rally to the moon
Jay - this is what you had mentioned:
ReplyDeletehttp://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 ...
http://3.bp.blogspot.com/_tOEUlOjbtCU/TEb20wmPRoI/AAAAAAAABc4/A4bz3LM8OJM/s1600/Capture.PNG
ReplyDeleteprobably 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
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.
ReplyDeleteEuropean stress tests results will be great... rally time!!! can't wait... long & strong
ReplyDeleteI'm getting 3 day cycle SELL signals right now.
ReplyDeleteRickyBobby, your signals are inverted. BUY is what you have to do here.... keep feeding THE BULL
ReplyDeletelooks like we are putting 100+ points now.
ReplyDeleteVECO looks interesting here
ReplyDeleteonly 7 small banks failed for the test
ReplyDeleteHypo Re (GERMANIA), Diada, Unnim, Espiga, Cajasur, Banca Civica (ESPANIA), AteBank (GREECIA)
now we can rally some more
I got a nice short position profit from the "stress test". LOL
ReplyDeleteshake & bake
hope you covered already
ReplyDeletestress tests were lame. didn't include soverign debt that was classified as hold till maturity, instead only those in the trade books...
ReplyDeleteand 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.
JUFU
ReplyDeletethankyou!
I cannot take any reder seriously who hypes and bashes based on news.
That's an amateurs mugs game.
I meant to say:
ReplyDelete"Icannot take any TRADER seriously who follows news events."
That's a clear sign of a rank amateur.
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.
ReplyDeletebut the news events act as triggers.
ReplyDeleteeconomic releases can blow thru technicals easily.
at the end of the day, i will make money... you will loose money
ReplyDeletetime for the bears to raise the white flag and move on
ReplyDeleteHow can I be losing money when I'm long.
ReplyDeleteI 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.
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.
ReplyDeleteBenjoice
ReplyDeleteI 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.
Watch the SPY over 110.32.. it could go well
ReplyDeletehannahzzz
ReplyDeleteImpossible. There are too many emotional cripples on the blogsphere claiming to be traders.
Guys - just assume that the forecast are inverted and move along ... lesson learnt take your losses ..
ReplyDeleteit 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 ...
Jay - I wish you were here to post your thoughts today ...
ReplyDeleteAS
ReplyDeleteu 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.
Ricky :)
ReplyDeleteNice 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 ...
Jays prediction was to end at LOD ... looking at how we are progressing that seems unlikely ... looks more like a HOD to me ...
ReplyDeleteI think this blog being over-publicised on those other sites ... means the moves are being reversed on what is being predicted.
Not going to post here anymore.
ReplyDeleteIt was civil here intil KAVIAR showed up.
I don't need this chit.
Ricky
ReplyDeleteEmail then among ourselves
I hope you keep posting anyway Rik.
ReplyDeleteI am still wondering how we close positive today. The rally came too early
ReplyDelete"... we race to my "Upper levels" 10450 to 10480 and then "YANK" goes the rug."
ReplyDelete100+ very possible today or at least close to it.
10450-10480 may take place Mon/Tue
BENJOYCE
ReplyDeleteA 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.
Do u guys see the potential negative divergence on the Daily chart. Something to keep yur eye on as price moves up.
ReplyDeleteseems like RickyBobby is one of those traders that is always on the right side of the trade... easy to say so....
ReplyDeleteadmitting defeat is a lot harder... AS
Kaviaar: I think stop it. Only thing you r doing is bringing negativity to the board
ReplyDeleteClosing price pretty much confirmed
ReplyDelete109.30 area
i didn't start it rose2797
ReplyDeleteKaviaar: I think if yuo didn't start it, just ignore it. Is this a trading blog or bunch of kids
ReplyDeleteLook at AMZN
ReplyDeletewatch 1102 in the after hours, that was my target for today
ReplyDeleteKaviaar - if it was, then that's great, pls share your thoughts and analysis instead of going after someone else ...
ReplyDeleteWe try to help each other on the blog instead of point fingers ...
AS, thanx for saying that. This is what I was trying to say to Kaviaar
ReplyDeleteRose2797, It was RickyBobby who started the trouble when he posted
ReplyDelete'"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.
that's right E
ReplyDeletethanks for your support
It's time for the BULL!
ReplyDeleteI'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!
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.
ReplyDeleteI 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...
ReplyDeleteFor right now it still seems to me that this move is "crush the shorts" action. Why? Because of the speed of it.
ReplyDeleteWhen 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.
Good commentary Abdullah. Thanks.
ReplyDeleteHelge's long term chart
ReplyDeletehttp://www.cyclelt.com/SEIR.htm
I think anyone hoping for new lows this year will be very disappointed.
ReplyDeleteThe 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.