O RUT 769.93 - 795.400
N SPX 1463.26 - 1472.27 (hit)
N QQQQ 48.61 - 49.12 (almost hit)
N GLD 69.80(hit)(69,60) - 70.50
O TSX
For First day in many, Gold Shows Weakness
Slow Day anyone, Low Volaitility opening
10:13 ET, we have hit QQQQ level one with exahustion bar. Real fast traders may want to sell and repurchase new daily high break
Sorry have a problem of cut and past???
Not thrilled with this market. But did not expect much this morning either.
Slow day, let us hope so. That would be anything between +-400
Uraniums , we already said below what to do. Stops below 3 day low.
Jim Taylor, JD said...
Hi Boris, Hi Jim...
Early Bounce off 13283 stopped at 13341.Conspicuous Weakening at Cluster:13312 9605 2601 Big Bounce or DIVE 2003 NDX100 1473.5Staying SHORT.Jim
9/12/2007 10:07 AM
25 comments:
Boris - I'm expecting big down days for the rest of this week. So I am bucking the pressure gages. Don't think the market will go into the fEd meetings next week on a strong note.
Dear Billy,
Good to see you today/everyday. That is what makes markets. All of us crazies deciding which way it will go, right.
You are a brave man.
I must stick with my charts. Now if we get this bad day, like you are suggesting. I may join you until then we are apart my friend(: :)
By the way do not you think this will be a slow day and nothing much will happen, cause half of us crazies are out for ROSH HASHANA?
Good Trading
Just the opposite. If a slow day starts to pick up any downside mo, I think it could escalate quickly. Like you say, that is what makes markets.
Dear Billy, you got me there, like you say, on a thin day anything can happen.
Until it happens, FAMILY and FRIENDS stay Long.
Discipline is what makes money in the end.
Market may want us to get out of longs, cause, nobody likes company at the(a) TOP. But we should stay mentally touch and not let anything stand on our way to following the YELLOW BRIK ROAD painted by the GAGES.
Good Trading
I have to laugh from time to time with postings from someone on stockcharts. He is now predicting that the mkts will crash over the next 6 days or earlier and dow will be down 18 to 34%. He claims he has a crystal ball. He is the one that kept calling for tops all the way up from last july. Everyone to there own opinion.
Dear Waldo,
One day he maybe right.
Good Trading
I trust your gages far more than someone's predictions unless it is GOD that is saying it.
Dear Waldo,
That is a super confidence, that I hope my gages will live upto.
But frankly, I could not find anyting more trustable on the web( open or private). So, I went and invented mine.
Thank you for your constant presense and support.
I hope, I can save you from mistakes in life and perhaps make some money to boot.
Money not lost is "MADE"
GOod Trade
Where would the mkt be today without the PPT from the feds. Looks like they are pumping a lot in today.
If the PPT did not exist Dear Waldo the GAGES would have invented something similar(: :)
Good Trading
Remember the old adage, "Buy on Rosh Hashana, sell on Yom Kippur."
Dear Eduardo, welcome back.
Sounds good, cause I am going for , well couple hours, for ROSH HASHANA, dinner with family.
Enjoy my Dear Readers/Friends, what the hack--Family. You are my family already.
Happy new your to you my family.
Just make sure, to not let anybody shake you out of your position, unjustly.
Good Trading
Looks like I am wrong on big down move today. Saving grace is that (so far at least) the brokers that I use to short are mostly unchanged. Take it up again tomorrow.
Have a great new year with your family Boris ! Enjoy your dinner.
Boris and all,
Sitting on the sidelines , but I am seeing on hourly charts same indicator readings I saw on 9/4/07, notably low $trin values, low relative P/C ratios, almost overbought on RSI, and CCI -Williams divergence...it looks like some kind of local top...on candlevolume chart today looks weak, unless it picks up more volume in the closing hours of the day, it has the volume signature of a failed rally...
Also the whole pattern fronm the 8/16/07 bottom is now looking like a head and shoulders top, which is in an odd place for one of those to form so I am wary, but it looks like we are finishing a right shoulder with the head being 9/4/07..just my 2 cents..all I can say is that is what it looks like...
If the market does decline from near this level, it should not retrace more than 62% of the price action from 1439.29..if it does, then there is little chance of it recovering to higher highs...by standard Fibonacci guidlines...
Good luck all,
Mark
Hi Boris,
Early Bounce off 13283 stopped at 13341.
Conspicuous Weakening at Cluster:
13312
9605
2601 Big Bounce or DIVE
2003 NDX100
1473.5
Staying SHORT.
Jim
Also starting to buy QID here--may be a double top soon on QQQQ---60 min getting overbought
Roosevelt radio address on bank holiday (1933)
http://webstorage4.mcpa.virginia.edu/fdr/audiovisual/speeches/spe_1933_0312_roosevelt.mp3
Dear Dave,
Thanks for your good wishes.
For Rosh Hashana.
Same to you.
GOod Trading
Oops... all didn't print...
audiovisual/speeches/spe_1933_0312_roosevelt.mp3
Dear Mark,LagScrew,JD
I do not believe we are heading down, unless I see a big down candle.
Now, all of you are correct about this rally not being "DYNAMIC", but IF the market is that bad it will show the hand.
So, far it did not in a big way, local weakness, however pronounced will not cut it. Need a big down day
Good Trading
boris...what is the current recommendation with uraniums...you mentioned mga and lam
Dear Xerxes,
One should not, must not see the URANIUM a trading buy here. It should be viewed as hold buy.
That is why mibble not grab.
One should buy this as it goes lower, or hopefully higher.
Good trading
Boris,
was just a lurker today. have a Happy Rosh Hashana.
Old John
Dear John, You too my dear friend.
Yes, I could almost fall asleep.
GOod Trading
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