Wednesday, October 29, 2008

Attraction Points(Apoints) COMING UP

Today Looks like a less energetic day with slump around 14:00 ET and higher into close


917 910 897 882 $spx
950 958 970 986

30.97 30.68 30.21 29.63 qqqq
32.20 32.49 32.96 33.54


914.26 905.26 890.63 872.50 es
952.24 961.24 975.82 994.00

96.267 95.967 95.479 94.875 jpy
97.533 97.833 98.319 98.925


752.80 746.65 736.65 724.26 xau
772.60 778.75 788.71 801.14

26 comments:

gorli said...

good morning, boris. is there a ETF for Hang-Seng index? what is your opinion about it?
thanks,
gorli

boris said...

Dear Gorli, we have often shown
FXI index

That is a good representative of
Hang-Seng

I think of Hang-Seng, the same way as I do all markets.

They move in sync.

If/when markets will move up FXI will move more, it declined more!

Good Trading

waldo said...

Good morning Boris and all, my question is boris you gave some possible low targets the other day on gold, dow indu, spx, and futures. Are those targets still valid. Thanks as always, waldo.

boris said...

Dear Waldo,
If you mean levels they are all in big pictures on the PSITE.
Do not remember, but APs are golden,

They , practically never change.

I had to never change them and I am not going to get into how could they change. (if they do you will know instantly).

But I never had to modify APs

No way

Good Trading

boris said...

Please note,
The jumping EURO currencies and slumping Dollar is keeping the Market a bit higher, but that may not have all too much to go for today at least. So, need to pay attention to low IHAPS to see if market turns down from there

Good Trading

boris said...

SWISSY IS SURGING

GOod Trading

boris said...

So far,
Nothing is going on, typical of the FED day. For stocks market not much movement, after mornings rise.

It is very hard to guess the FED day movement, but if 14:00 slump is to come about that is awful close to FED announcment. So, does it come before or after announcment?
Well, it is not clear it will come to begin with. It is just a guess, but if it does, is the result of announcment?

I really do not know and Often do not trade on FED day at all.

So, please take today's guess( especiall) with the grain of salt

Good Trding

אנטי-סופיטליסט said...

Some tid bits on fed day, in the past the market had a two day rally and then rolled over and sold off when the fed cut rates. Yesterday was day one of the rally so I would be very careful as Boris says. waldo.

אנטי-סופיטליסט said...

Also the currencies will be hitting there resistance and the yen will probably test the support line and markets will hit there resistance line. It looks like everything is lining up for a market rollover. I to am in cash and will set on my hands. waldo.

John said...

Waldo,

with you old timer, just going to sit and watch.


old john

אנטי-סופיטליסט said...

feds cut 1/2 point. down to 1% now, they only have one bullet left and they are saving that one for themselves. waldo

Vishal said...

Ben says "We are still FFFFFed!!" Thanks for letting us know dude. Move on, nothing to see here :D

John said...

Just like heroin addicts. Just need a little more.

old john

ARAK said...

Do we rally into the close Boris?

boris said...

Dear Aarak,
Can not change my outlook now.
Looks like we ought to have some rally here.

Just make sure tight stops are in place
GOod Trading

lagscrew said...

STOP ... don't get too exuberant after yesterday's move yet.

Why? Because there are too many red flags yet to be resolved.

Like what?

1. We had an Institutional Investor red flag yesterday from the actions they showed on their "core holdings":
* They increased their holdings on 40% of the "core holdings".
* They had no change on 19% of their "core holdings".
* They decreased their holdings on 41% of their "core holdings".
This did NOT match the exuberant behavior of the smaller investor yesterday.

2. The number of daily New LOWs on the NYSE: Yesterday's reading was at a negative 592, which was higher than the 585 on Monday.

3. Another red flag is what happened to the number of "Very Strong Stocks" with increasing strength yesterday ... they dropped 24%. That suggests that the small investor got exuberant while Institutional Investors sat and watched ... in other words, if Institutions don't start buying into yesterday's up move, the small investor will get left holding the bag.

boris said...

Dear Subscribers,
As reported before,
Please make sure that you trail very carefully this market if long.

As mentioned, I do not trust energy of todays market

GOod Trading

lagscrew said...

that was from Stock Timing

John said...

Lagscrew.

thanx

Boris,

Everyone is a Bull now, have heard nothing but "Bottom is in". I think I will patiently wait and see.

old john

boris said...

Dear Lag,
Thanks

Dear John,

Yes, YOu are right.
Sometimes crowd can be right though(:-, I just do not know when(:-
Good Trading

John said...

Boris,

The crowd could be right, but there will always be another bus. In fact, there will be a bus coming tomorrow and hopefully one around the 14th.

thanx
old john

sumsum said...

Hi Boris, loved your analysis, on the TUESDAY RALLY, what do you think about the Dollar? is it going to go down in the short run? im having several call's on the good old buck,or should i leave the position and go neutral?

sumsum said...

Hi Boris, loved your analysis, on the TUESDAY RALLY, what do you think about the Dollar? is it going to go down in the short run? im having several call's on the good old buck,or should i leave the position and go neutral?

JVE said...

John, what bus is arriving tomorrow and on the 14th if you don't mind me asking?
Thanks JVE

JVE said...

Boris, BTW thanks for setting the time stamp to Eastern Standard Time, it makes it much easier to chronologically associate the comments with the events in the market.
JVE

Hopper said...

Hi Boris and friends

Thanks