O RUT 769.93 - 795.40
N SPX 1507.00 - 1510.57(1515-th,1517.5-5th)
N QQQQ 50.21 - 50.64 (50.90-5th)
O GLD 69.80 - 70.50
O TSX
Gold is up ~$5 since hitting 721 area. any guesses?
Swissy hits 116.50 we wanted, Good Boy Swissy...
$USD hit the low?
Yen hit the low area 114. and rocketed.....................! 114.56 that is how important this level is now. If it is not broken, we are moving up in the stock market and YELLOW line rules for now. Forget the even big decline, let alone crash.
13:43 ET If you can risk 10c, sell Q at the market(50.84 now) with 10c stop. I am not doing it.
13:49 ET Q stops 50.86 2c risk, 50.90 is 5h top. Nowhere to go, but explode above that.
13:54 ET Stops at BreakEven 50.84. No Risk, Risk takers 50.91
13:58 ET Those with low capital, Please no risk...
14:09 ET, Sorry Low capital guys/girls. You SOPITALISTS( large capital) are still in lower the stops down to breakeven and those with large positions ( super SOPITALISTS) take some money to raise the breakeven point.
14:15 ET , do not give more than BreakEven this market has not rolled yet
14:49 ET, I hope nobody is trying to improvise here. I said this market has not rolled over yet.
14:52 ET, if this not the top here, then next one is at 51.25, see you there... that would be equivalent of 39 QID ( something tells me we will be there today or tomorrow)
N SPX 1507.00 - 1510.57(1515-th,1517.5-5th)
N QQQQ 50.21 - 50.64 (50.90-5th)
O GLD 69.80 - 70.50
O TSX
Gold is up ~$5 since hitting 721 area. any guesses?
Swissy hits 116.50 we wanted, Good Boy Swissy...
$USD hit the low?
Yen hit the low area 114. and rocketed.....................! 114.56 that is how important this level is now. If it is not broken, we are moving up in the stock market and YELLOW line rules for now. Forget the even big decline, let alone crash.
13:43 ET If you can risk 10c, sell Q at the market(50.84 now) with 10c stop. I am not doing it.
13:49 ET Q stops 50.86 2c risk, 50.90 is 5h top. Nowhere to go, but explode above that.
13:54 ET Stops at BreakEven 50.84. No Risk, Risk takers 50.91
13:58 ET Those with low capital, Please no risk...
14:09 ET, Sorry Low capital guys/girls. You SOPITALISTS( large capital) are still in lower the stops down to breakeven and those with large positions ( super SOPITALISTS) take some money to raise the breakeven point.
14:15 ET , do not give more than BreakEven this market has not rolled yet
14:49 ET, I hope nobody is trying to improvise here. I said this market has not rolled over yet.
14:52 ET, if this not the top here, then next one is at 51.25, see you there... that would be equivalent of 39 QID ( something tells me we will be there today or tomorrow)
OK all you want to see who is moving NAZ again. Usuall Suspects AAPL CSCO etc ( see chart above)
42 comments:
Boris
Love your $hit dollar.
Why is QID so screwed up-dividend or something?
Dear Lagscrew, looks like that
Yes, Me too(: :)
Dividend apparently.
GOod Trading
Hi Boris,
I posted earlier to watch google for a sign and thought that Oct 18 (earnings day) would be significant. Because GOOG has been quickly 'pushed' up to my target area already, I think everything now gets pushed up in time. I am now looking for OCT 3 (34th fib/trading day from low) to be the significant turning day. I also think the yen needs one more move lower in its trading range before a breakout which may also coincide with Oct 3.
Good Day.
Mark P
Dear Mark,
Thanks for updating us. What are your targets for GOOG?
When/if you have chance please...
GOod Trading
Hello Boris,
I primarily use elliot wave and charting techniques for my analysis so it would be difficult to give you a hard number for a target as my target is a trendline which is obviously a moving target.
That said Goog tagged the upper trendline of the 5 wave ending diagonal pattern yesterday at $571 and has since pulled back some. It is not impossible for the upper trendline to be exceeded under Elliot rules before turning south, and in the case of Goog, I more than expext it. Because of the possibility of a blowout top, I think GOOG is to be best used as an indicator rather than a shorting vehicle.
Regards,
Mark P
Dear Mark,
Thanks
Good Trading
Boris and all,
Right now the ordinary type indicators are in conflict, daily is suggesting sell and hourly suggesting buy..but the important thing is levels.. if todays low on the $SPX at 1507.13 is taken out, we probably have some kind of decline ahead of us..the Yen carry trade is important but the Sub-prime stuff is out there still festering, so we have conflicting forces on the market right now..So we have to watch levels, and let the market tells what's going on..the little bounce this morning corresponded with a 1.62 extention on hourly charts of a wave starting on the 20th and finishing on the 21st..so it might have been very natural for a bounce there, and not tied necessarily to external events..so if we go below todays lows..chances are good we decline anyway..new lows are creeping up..so this reinforces my belief that we still have a possibility of a retest of 8/16...but we need to wait for confirmation..
Good luck all..
Mark
Dear Mark,
I agree that the time is still there for downside to materlise, but in 2 das it will be over. And we will have to start thinking up again.
Good Trading
Hi Boris,
Wow, are things changing that fast? Is that from your gages or from the carry trade? Curious to know which effect is driving that?
Mark
Hi Boris! It looks like we have strong support at SPX 1490 which is the neckline of the inverse head & shoulders. The inverse H&S has a projection to above 1600. Until proven wrong this is what most traders are going with. Being anti-sopitalist, I like going against the crowd and think we are toping, which will turn out to be a lower high as we stair-step our way down. I'm ready to change my mind should 'they' turn out to be right.
With all the bad news that is out there in consumer confidence, housing and inflation brewing, could this action just be end of quarter window dressing? waldo
Hi Boris,
If you have a chance, can you please post the s&p limits? Much appreciated.
Paul
Dear Mark( Lytle) things are not changing that fast. It is just knowing how to read the map and if the map sais couple things are possible you must follow those possibilities.
There is a chance of a real collapse here and there is a chance of the meltup as well as something in between.
How do we tell?
Viac confirmations.
Until confirmed otherwise, the gages are prefering the downside.
That is very simple, really.
I ofthen say trading is not about knwoledge, it is about exectuing when the preponederence of facts is in a given direction that is why you see us attempting sells not buy's.
Yes it could prove wrong, but that is the way it is. We know how not to lose, even when wrong.
GOod Trading
Dear Sqroot, I agree with the spirit. You go with what you can rely on and if/when wrong.
1) make sure you lose little/nothing
2) Change your mind and look for the opprotunity in new direction
That simple.
As I said Until proven wrong, I am attempting to sell.
Good trading
Dear Waldo, could be the window dressing, of course, does it matter? no.
Market is not yet follwing the Sell direction from the gages, I have not yet given up though. It aint over till it is over... that is what he said.
Good Trading
The $naad on the ndx has not confirmed this move to the highs again, as Boris mentioned yesterday there is only a few stocks running the ndx up.
Dear Boris,
I am still in the "down" camp as well..waiting for confirmation..The battle royale at the moment is around the 1516-1517 level seems to be a strong level..We'll see what happens..
Regards,
Mark L.
Dear Waldo,
exactly,
GOod Trading
Dear Mlytle
exactly, see the SPX limits
GOod Trading
Boris,
Just doing the reading. Low capital guy who is waiting for next move.
Old John
Dear John,
Good Afternoon to you.
Love you man.
Good Trading
Hello Sopitalist folks, How are you doing? :)
DJR is ready to break 5-day support (watch on 5 min chart). Will other indices follow?
Greenie,
watching it now.
Old John
Good Sopitalism to you Dear Greenie, so how did you like the joke about Breznev COW and GREEN GOGGLES?
Good Trading
that was very funny !! I heard that before - you know, I grew up in Calcutta with a government made of bunch of followers of Lenin and Stalin.
So Dear Greeine,
You can sing "mera juta he japany"
Means my shoes are Japanese.
"I padloom Hindostany"
and my pents are Hindu
"mer per lal tupi rusi"
My Red hat is RUSSIAN
"phir be dill he Hindustany"
Byt My heart is Hindu.
Mr 420. Raj Kapur I can still hear the song...
Good Trading
Maybe someone can explain to me how a stock or index can go up when money flow is negative. Any response is appreciated. waldo
>>> $USD hit the low?
do you think now USD index will have correction up? What level you expect?
Dear Waldo,
You can have a very negative flow and the Bernanke comes and bids 50 cents higher and that is it. WHo cares about what happened before...
Good Trading
Dear Nikolay.
I am not sure if this is it, but today tomorrow is a nice time for $US to bottom and go perhaps back up to 79.50-80 area before coming down again.
Good Trading
So you are saying the feds are holding the market up by injecting millions of dollars. thanks waldo
Dear Waldo,
Somebody is...
Right?
I do not know who, FED does not directly do it, you are correct it would use SOPITALISTS from the WALFARE STATE of WALL STREET.
Good Trading
Yes, it used to one of my favorite movie, when I was growing up. Now I am out of touch for so many years :(
"mer per lal tupi rusi" (x) - "sor pe lal tupi rusi" == the red hat on my head is Russian. (sor=head).
Boris,
It makes sense. Where do you think all the money goes when the Fed does its Repos? WALL ST gets cash for 1 to 14 days and is "told" what to do with it. The Fed has to be winking at them.
Also, if anyone wants to plan around the ProShares dividend schedule, here is the link:
http://www.proshares.com/funds/distributions
It should be predictable going forward.
Good trading
Dear Greeine,
Bravo,
Now we connected in Hindu.
Ce Bueno, that is HINDU too(: :)
GOod Trading
Dear Blaine,
excellent info.
Good Trading
Waldo, Stock prices are not just random number going anywhere. There are actors behind them. Typically it is large players setting up traps, and then small players falling into it.
Take a look at DJR of last five days for example. If it breaks below today's low, game over. Why? Because today's low was also the low of last five days, as well as high of Fed day. If the price enters Fed day, it will fall all the way to pre-meeting price, and then maybe test the previous ST low.
If you look at the index, all day it was at the same place doing nothing. When one index does not respond to the move every other one faces, it means distribution, i.e. small players buying and large players selling only up to the point not to disturb the set up.
The set up was unchanged for all day, and finally in the last 5-10 minutes resistance will be taken (my guess), so that none of the small players will be able to react.
Thanks Boris and Greenie for the explanation. waldo
Greenie,
That's probably true because the institutions get their trades routed through a little after 4:00 P.M. ET.
On another note, has anyone noticed that fewer and fewer stocks are leading us higher? Very typical of tops. Also, the banks/brokers have come down (LEH down to pre-Fed cut levels) and the Transports look terrible. Most of the stocks in this market are not going higher. Look at the NYSE. Look at the A/D line today. Look at the new highs/new lows. Same goes for the Nasdaq internals. All are reading DISTRIBUTION! It is only a matter of time before there is nothing left to hold the market up. I hope it is sooner rather than later.
If not, then I quit and I will buy AAPL at $200 on margin with an interest only home-equity loan...
Hi Boris,
I just went over to Stockchart's "market carpet" and looked at the $SPX sectors to try and figure out what is holding up this market. It looks like the only sector of the S&P that's strong today is Technology and a little bit from Industrials, everything else is weak, especially energy(very weak)...which mirrors what's happening today in the $nasdaq..When the $nasdaq tops, that's the last big horse pulling the wagon as far as I can tell..
Just my $.02...
Regards,
Mark L.
Dear Readers,
They killed YEN again. Those SOPITALISTS must have finally convinced the MR FUKUI to put it on the leash
GOLD:
as with the AUD/JPY,
it's LIKE TRYING TO SUBMERGE A BEACH BALL..
i suspect the latest $10 bounce from around 623-24 CASH levels was due to retailers trying to "get a piece of the bullish" action.. suckered in, maybe.
SOPITALISTS might be ready to push GOLD down real good soon, maybe once 752 is hit??
No technical basis for what i wrote, just me talking out my a$$ as someone playing gold for a while now
Did i say 623 earlier? damn gold is in the 7 hundreds now!
Dear DXB,
Thanks,I was going to discuss her anyway...
The action of GOLD was misteriuos today, it started at the important support 721 cash and I said there, make or break. It pulled out another "whodoneit" move up...
This tells me something, GOLD /STOCKS are all keying form JPY and as long as that is helpful they will go for a ride. I suspect that the GOLD stocks misbehaving today will finally put the GOLD oscillator in the right mode...
We shell see tomorrow
GOod Trading and very appreciative Dear DXB just get your 6 and 7 right(: :)
Post a Comment