Monday, November 26, 2007

limits

N QQQQ 49.92 - 50.37
N QID 40.03 - 41.01
N SPX 1436 - 1444.4(do you like this number?)

Dear Readers, we have a sizable history on most of the groups we follow, but some ( especially individual REIT groups have a limited history for now). Price can also be used for a historical observation in these cases. Make sure that if you want a graph of some group let me know and I will put it up next time. Good Trading

Dear Waldo, the outer limits (4th and 5th) on this one ( RUT) are 745 and 740 on the downside

12:38 ET, YEN may have turned for today, giving the Stock market chance?
14:15 ET, YEN is just about to hit the 4th Resistance around 107.80 , Usually this level before the fifth 107.35 stops the move on YEN. Help can not come at a better time for the markets. Independently, this about the time the Market turnaround is projected today.

12 comments:

waldo said...

Good morning Boris, limits dead on again, Thank you, Waldo.

boris said...

Dear Waldo,
Really, I was not even watching,
Thanks for reminding me. I hardly get to monitor these things after I put them up. Thank god they have a vlue!

Good Trading Dear Waldo

waldo said...

Boris, do you have any short term targets for IWM, that tracks the russell 2000. Thank you, waldo.

malcolmm said...

simjuegood morning boris. investors might be interested in "Earnings illusion threatens Chinese market":

http://www.reuters.com/article/marketsNews/idINSP6894320071123?rpc=44&pageNumber=2&virtualBrandChannel=0

or if the link does not post correctly, go to reuters.com and search the title.

regards
malcolm

boris said...

Dear Malcolm , Thanks a lot
Alsways good to hear from you.

Good Trading

lagscrew said...

Careful longs

VIX and VXN have broken out to the upside on their triangles

Jason said...

Boris,
What is you feel on the Eur/USD? It had an ugly daily candlestick last week very close to 1.5. Could we see the dollar rally from here a bit? Do you have any short/mid term projections?
Jason

Blaine said...

We could be setting up for a sharp decline in the finals 30 minutes.

The patterns are setting up for a test and hold of Wednesday's low. That would be encouraging for the longs. But man, it is really scary to go long here.

daveo said...

Lagscrew, is that a daily or weekly breakout ? Thanks, Daveo

lagscrew said...

Last 3 weeks

http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm

Blaine said...

Boris,

The Yen passed your 5th resistance and hit a low (strong yen) of 107.21. The stock market sold off to close below last week's lows. You had originally called Nov. 26th (today) for the short-term stock market low. The yellow brick road appears to turn up from here in to early December.

With all that said, do you see a sizable rally coming tomorrow or later this week?

Or is the market (stocks and yen) dead and going into an immediate bear market drop lower than August and February?

Thanks for your help.

boris said...

Dear Blaine,
I wish I could predict market, but that is not what is needed to make money. One just needs to trade, with the knowledge we have. What do we know ( or think know)?

That market should have at least, a temporary bottom here. What can market do if there is a bottom here , of course, rally. How much? just take FIB 50 and 62 % retrace and that is it. So this already sets one up for trading in conjunction with the limits. What is my projection? Still higher into November 30-Dec 3 and lower thereafter .

That is all we know.

Dear Jason,

Now to answer questions about the curreny, like EURO , We all know that I am unconditionally bullish till the end of the year. After that I consider the secondary top possible in FEB/Mar timeframe. That is again what we are wroking from. Now, I thought we are going to have a bit bigger Dollar rebound here than just 1-1.5% before the last move lower, but who knows, maybe we got already what we were looking for and Dollar is moving into the suicidal dive into late Dec. Nov28 Nov29 was a time period where I was expecting such decline in EURO/GBP/CHF. Well, You guess is good as mine, did we see it already?


IN YEN, my expecation was about 10-12% decline from the top of 124(recent top). We already have more like 17%. I outlined the support levles for JPY and they are 107, 105 104, 102, 100. 107 is a very strong support if it goes easily than 102/100 are possible.

Timing is supposedly supportive of the Stock market rally and it goes like this. YEN lower into Nov 30 and stronger thereafter, which would jive nicely with the stock market ROADMAP( even though independently arrived at).

Is all of this going to work like I/we think? I do not know. I amm in the same boat as all of you are. Today's new low in YEN was not expected even as it is not surprising.

You cenrtainly did not see me jumping in the market or giving ideas to do so. Cause, this is a difficult moment in the market and when in doubt , stand out!

Good Luck.