Monday, November 05, 2007

Limits

Dear Readers in Q's concentrate on 53 - 53.10 area High, well, forget it for now , similar numbers for QID are 36.05, 36.15

N QQQQ 53.50 - 54.06( 54.13, 54.25)
N QID 34.94 ( 35.08) - 35.81 ( 36.30, 36.05)
N SPX 154.94 ( 14,90) - 1500(15.03,15.07)

If YELLOW BRICK ROAD still rules( which it did for 3 months, in fact even the WHITE BRICK ROAD is in total agreement now with the YELLOW BROTHER), down down from here, with few days of interruption on the upside

10:03 ET All the above are hitting very close the high limits
10:10 ET if 54.25 is taken out 54.45 becomes feasible Q's
10:17 ET, thick resistance 54.20 - 54.25 Q's must hold for Bears

Dear Readers, John is so right, look at the charts of Q's and YEN, you can not tell the difference if the axes were not labelled for last 30 Minutes!

10:42 ET, next 6-10 Minutes are the most critical 54.25 must hold or we go higher
10:44 ET, Stock Market is watching an equivalent level of 115-40 for Swissy and 114.60 for YEN ( so far no support from currencies) for Q's break out of 54.25
10:50 ET, Q break out may have been "run the shorts" break, unconfirmed by currencies
11:13 ET, How about it SPX, hitting exactly 1507 our high limit!
12:01 ET, GOOG hits 730, my limits on this one are 744-765, close Ha?

Dear Readers, It is important to ask me a correct question or alternatively if you got the answer to wrong question ask me again! I feel sorry joking with Dear Hopper about FXI needing to go to 250 ( it still could ). The thing is I do not know, we/I are all dealing with probabilities and if you ask me to go long or not at this stage, I would say you are crazy ( unless you are a super short term trader). But if you ask me a question is the 250 likely, of course , I will say YES and that would be the nice place to SCREW this index/ETF. See the difference? I can wait for this number to go short, but sure as hell I will not wait for this number to collect on Longs!!! Where you are matters when asking me a question. Remember to tell me that or just ask me to give you all scenarios

12:35 ET, those watchin YEN, if/when YEN broke 114.30 down, Stocks will, most likely follow down, exactly opposite will follow the break of 114.60
14:36 ET, those short Stock market, stops at Break Even or slight gain. Must have stops
15:30 ET, Just hit exhaustion bars on YEN , if it can not stop the advance that would mean stocks will go higher with YEN. 114.60 is again pivotal.
15:43 ET, YEs while YEN was hitting 114.60 Q's hit exactly the number quoted inside my comments 54.32 ( 100% N Retrace of todays decline! with an exahustion bar of it's own to boot) and now we are at 54.15. Now the 54.33 becomes a do or die for Q's

40 comments:

daveo said...

Boris, thanks for the limits and all you do. Daveo

boris said...

Dear Dave,
Use it in good health.
I hope to be useful until I can not ( : ) hopefully that is a long time.

GOod trading

john said...

Boris,
Thanx again.
Old John

Qustion? following the yen again?

boris said...

Dear John,
Yes, You FOXY(: :)

You know what to watch.
You see how YEN is eating peoples lunch Hahahaha...

Good Trading

john said...

Boris,
The old guy does not foget lessons learned.
Old John

boris said...

Dear John,
How Come I forget everything every day?

Good Trading

waldo said...

When tech gets downgraded it will be a massacre, the beginning might have started this morning with the downgrade of emc. Everyone has been running to tech for a safe place to hide from this selloff. just my humble opinion. waldo.

boris said...

Dear Waldo,
No doubt, this is one of the only legs left funtioning for the market and when that goes, so will the market.

Good Notice
Good Trading

john said...

Boris,
From a very novice guy, I would think that the Qs are easier to manipulate with just goog and rimm and maybe aapl? The s and p would be more difficult. Or am I reading more into it than I should?
Old John

boris said...

Dear No you do not read more than it is. You are 100% right. That is why I tell you all the time. Do something different from what I follow for you. Let the suckers be sidetracked by you not being there. Let them run all the shorts you are not...

I can not emphasize more the need for you guys to use whatever you can to do different things, so that you do not get pray of these suckers at Q's

Good Trading

john said...

Boris,
Great call, I bought a little SDS around 1506 and a fraction.
Old John

boris said...

Dear John, Good For you.

Good trading, Haida Boy, did exactly what I would have done. Something that is not Q!

Good Trading
Do keep the stops at breakeven and let it ride.

boris said...

Dear John, EVerybody who have sold around the highs. Do not give markets any gains. Stops go at the breakeven or little gain. No loss!

GOod Trading

young grasshopper said...

Hi Boris,

It is Young Grasshopper. I can not short and long well due to lack of time during the trading day. I am more of an investor.
I am wondering you would have be a short term peak for the FXI? a bounce?

waldo said...

Bullih percentage on the ndx has dropped from 74 to 59 in 3 weeks. The q's hasn't lost much more than 80 cents. If that isn't manipulation, I don't know what is. waldo.

boris said...

Dear Hopper,

This drop today has created an upward lokking M provided the low of today does not break, If I were you, I would iether wait for the low to break and get out of there or see if we can close the gap, that is go between 203- 210 area and leave this thing.

Good Trading

waldo said...

Boris, with the 4 horsemen on the q's coming close to your tgts, do you see the q's going much higher today. The reason I ask I have put options on them and I have to leave for a couple hours. Thx for your response. waldo.

boris said...

Dear Waldo, I am concerned that YEN 5 min slope is looking up, Of course, it could change very qucikly and come down, which would be bad for stocks.

In these hot areas of market possible turnaround points, it is only GOD who knows what will happen and even he/she may not ( forigive me GOD).

I any case I do not see big chance for a big rally here. I would though make sure that you are covered and levae positions if the Q's were to hit 54.60 or higher. That would be a break of FIB 62% retracement of the downturn of last two trading days.

Good Luck
and Good Trading

young grasshopper said...

Hi Boris,
Thank you for all your efforts/advice/knowledge; I value it. I will be more specific with my questions.
I'm responsible for my own actions. and if I get out now it is only a smaller loss.
We are approaching the lower limit of FXI, and looks as it is not holding.

john said...

Boris,
When the yen turned a little bit, I sold SDS. thanx for the limits.
Old John

Mark Peltier said...

Hi all,

Large reversals on GOOG and RIMM this afternoon. The markets as a whole haven't broken major support yet. It may by the close - still a waiting game.

Mark P

boris said...

Dear Hopper,
Good Luck,
You know I value you as an investor with the views to go with it. Many here are traders and you and your views are very very important input to us.

GOod trading Dear Hopper.

boris said...

Dear Mark P and Dear John,

GOod Luck

Good Trading

Anonymous said...

Hi Boris and everyone,

Boris, do you see where would be a good price to buy FXI (china index), I see next support at 150(i can dream on?) , but i would love to get it at August price (now i'm being greedy :) )

value your's and alls opinion and thank you

boris said...

Dear Lilies, FXI has support at 162 ( nice FIB number) and 153, 143, 133, 122. Let us pick the number. We do not know of course, where it will stop, but 123 and 133 are more spcial, cuase the 50 62% FIB retracments are also there.

So, let us cross that bridge when we get there...
And welcom Dear Lilies, After email correspondence of few times finally joining us on-line.

Everybody welcome Lilies.

Good Trading

Yes and Not Yes said...

possible upside down head and shoulders forming on the 3 min QQQs chart.

diesel said...

Hi Boris,

Do you have any thoughts on RNE here?

Thanks,

Damien

boris said...

Dear Doug The Second, I apologize for not welcoming you last time I saw your message. I am sorry, I was so out of it that day...

Welcome to our house Dear Doug.
YOu are right about the head and shoulders, so if/when the lows of today break we could look forward to about enother 100c lower in Q for symmetry.

Good Trading

boris said...

Dear Damien,
I see tat this ETF ( Easter European Markets) is at a 62% FIB retracement of the correction from the highs of 54.18 ( 2006) and world market do not look so hot today. If it is able to better the high of OCTOBER we could talk about 48.50 as a possibility, but at this time 42 looks closer to me. Good Trading

Yes and Not Yes said...

Haha. See the QQQs pop right out of the H/S formation? Boris, I've been quietly reading your posts for about a year. I'm still a beginning trader, but I want to contribute and learn more.

boris said...

Dear Doug, you have come right place we will all learn together.

Good Trading
YEN being strong entire day, has all of a sudden popped and that is the cause of the Stocks popped. Next 5-7 minutes important. YEN should not make much progress or Stocks will follow it up.

GOod Trading

Anonymous said...

Dear Boris,
Of course i can count on you to remember every details like the Fib levels, being simple minded and novice, I only look for supports :) thank you

boris said...

Dear Lilies Welcome,
Good Trading

boris said...

Dear Readers,
Until Q's take out 54.60 or so, technically it is still in the decline mode and even the level 54.32 can exert the resistance, due to the 100% N retrace of todays rise and fall.

Good Trading

Anonymous said...

Pretty sick for the pop we are getting

NYSE NASDAQ
Advancing Issues 808 (24%) 1021 (32%)
Declining Issues 2438 (73%) 1966 (63%)
Unchanged Issues 88 (2%) 108 (3%)
Total Issues 3334 3095

Up Volume 295 M (25%) 628 M (37%)
Down Volume 842 M (73%) 1028 M (61%)
Unchanged Volume 11 M (0%) 13 M (0%)
Total Volume 1,149,840,000 1,669,740,000

New Highs 53 51
New Lows 276 306

daveo said...

Boris, I can not thank you enough my brother. 24 pts on the ES and counting. Reshorted the anemic end of day rally (at 1512.25, for the second time .... : ) Thanks for posting the multiple ES limits. I had the day off today, and tomorrow and decided to day trade since I missed the swing pivot on Wednesday. You are the man. Daveo

Mark Peltier said...

Hi all,

Prepare for the possibility of one last rally to clean out the shorts and to put sentiment at a level more consistent with a top.

The links to the charts that I posted yesterday tell me this. The NAUD daily never provided a buy signal that would be consistent with starting a wave 5, thus it is still likely in a 4th wave of the 5th wave. The NYUD daily, while it did emerge to create a buy signal, has been very weak and is now likely that it is also still in a 4th wave of a 5th wave, having done an ABC 4th.

The weekly charts, which provide the real sell signal for these charts, are on buy signals, and don't look likely, to generate the sell for a few weeks, as the signal lines are well above the sell region.

Mark P

boris said...

Dear Dave,
GOod For you.
Made my day.

Good Trading

boris said...

Dear Mark,
Thanks for the updates
Good Trading

john said...

Boris,
another bus tomorrow.

Mark,
Thank you. looking at the charts again this evening.

Old John