Dear Readers today's limits
QQQQ 44.11 - 44.45
GLD 66.54 - 67.14
USO 51.67 - 53.31
GG 25.76 - 26.35
Dollar Had a bad day so far, is this the sign of things to come after couple more days of relative "strength" for $?
Good Trading
Jim Taylor, JD said...
Short S&P @1444 = 38 Squared.
4/05/2007 9:03 AM
While not official sell call from myself... Not A bad Idea JD as QQQQ Just hit the projected high 44.45 and Pressure gages call for at least a local top. Please Use tight mental stops, we never risk more than 10c on any move
Jim Taylor, JD said...
SHORT DOW @12544 = 112 Squared
4/05/2007 9:36 AM
If I was short QQQQ my stop would trail the lows by 10C, I.E. QQQ at 44.38 my stop at 44.48, 12:49 EDT,MENTAL PLELASE
14 comments:
Hi Boris.
Do your intrady cycles see a daily high at 2 PM?
Thanks
Dear Danno, I see one at 11;25 AND 15:10 EDT. I believe you are refering to Metals...
Good Trading
Short S&P @1444 = 38 Squared.
Jim
SHORT DOW @12544 = 112 Squared
Jim
GANN CLUSTER SIGN OF A MAJOR TOP:
NYSE 97 squared = 9409
N100 42.5 " = 1806.25
R2K 28.5 " = 812.25
DOW 112 " = 12544
S&P 38 " = 1444
NOT BY CHANCE
Jim
Hello Boris:
any update of your metals (GOLD/SILVER) scenario, from what you've seen so far today?
thanks
DOW - 12556 @ 1:43E. Filling the gaps from 2/27...
Dear Dxb,
I did not change my mind yet about some sort of a bottom upcoming into centered around 4/10-4/11 +-2 days, I have shifted my dates from 4/8 due to holidays(Easter/Passover) etc. My initial expectation was 5% more decline from the top, but now I am looking for somewhat less 2-3% decline in Silver. After that I expect a rally back up, espcially , in SILVER almost as the stock market ( did you notice how QQQQ and SILVER move almost together lately). Amazing, this precious metal SILVER is not all that precious if it can not do better than go with genera liquidity...
Todays high was expected around 11:20 and we got it. I would feel better about my forecast if SILVER closes at or below 13.60, but more important issue is how do we open tomorrow. It must open down for me to stick with the immediate forecast or I will have to hybernate and come up with an alternative scenarios.
Good Trading
1444 just hit on S&P 500
Jim
Thanks Dear Sqroot for filling us upon DOW. GOod Trading
Well, they didn't completely close the gaps, but we are close enough that a pop on the open Monday should do it, then a hard reverse down to crush all the believers?
Good Fortunes to you Boris and everyone!
Dear Sqroot. I hope you are correct and I actually believe what you say has a good chance. Today has only helped to join SPX with QQQQ in the sell configuration as we have had stocks go up to create more chances for them to sell off ( you know Sell Pressure Rises when stocks go up). Given that and given the rule, when Sell Pressures are HIGH/EXTREME then we wait 1-4 days for a good Sell Off to matterialize. How long do we have to wait this time? Well, for QQQQ this would be a second day for sure and even FOR SPX we can think of it as a Second Day. We are close to the sell off to begin my friends. Only remember that you must use the short term indicators to support the shorting action and place stops accordingly. Good trading
Hello Boris, I've had trouble with my blogger account lately and oh well. Thanks for your work, I really appreciate it. I read all of your safehaven articles to better understand your pressure graphs. My question is, if the buy pressure line crosses the cyan line from below with Thursday's action, would that not be a bearish signal ? BTW, I was a steel curtain fan while growing up.
Dear Daveo, Yes the crossing of Cyan Line from below by the buy pressure line will signal onset of the decline. In essense, what it says is that "Stocks are getting wort buying" and the only way that pressure will grow is to put more stocks "for sale" - IE market must move lower.
Definitely correct understanding Dear Daveo.
Now the Steel Curtain... I loved the boys, they were/are my heros. As a former wrestler and weight lifter I could not have had better hosts as a studnt at CMU than the 4 times superball champions... GO STEELERS! And what about Willie Sturgle of the Priates Baseball team. Too bad the steel city is experiencing the population decline these days. It seems to me like the cities with people with real strong characters are in decline and that perhaps tells a lot about where the "capitalism run wild" has brought us, but that is the subject for another day.
Good Trading Dear Daveo.
Good Trading
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