Dear Readers The National SOPITALIST Casino will soon be closed for today and the Wall Street ( WELFARE STATE ) will go to burbs to count money they screwed ordinary citizens out of. We did not trade today, nothing has been resolved on the MDS level Still in sell mode and waiting for a BUY. GOLD took a dive and dollar had a nice gain. Energy, DITTO GOLD and , FIXED INCOME enjoyed another nice day.
This is just a copy of comments with Dear Sharon about where SHEKEL may go
boris said...
Dear Sharon,Haviest support zone for shekel lies at 3.44 to 3.57(we are there now).If this band is broken down we could go to 3.35 and 3.12 ...We do not want to discuss break of this area! not now... Cause if we do break this level there is hell to break and/or freeze...Timing wise we have mid feb 6 and 16 and Early April as possible dates for the bottom. Good Trading
2/04/2008 2:24 AM
03;11 ET 2/6/2008, Shekel has never dropped even one penny below 3.57 and stands around 3.63 at this time.
03:29 ET, Pressure gages indicate elevated BUY pressures and subdued SELL pressures. MDS stands still on SELL
This is just a copy of comments with Dear Sharon about where SHEKEL may go
boris said...
Dear Sharon,Haviest support zone for shekel lies at 3.44 to 3.57(we are there now).If this band is broken down we could go to 3.35 and 3.12 ...We do not want to discuss break of this area! not now... Cause if we do break this level there is hell to break and/or freeze...Timing wise we have mid feb 6 and 16 and Early April as possible dates for the bottom. Good Trading
2/04/2008 2:24 AM
03;11 ET 2/6/2008, Shekel has never dropped even one penny below 3.57 and stands around 3.63 at this time.
03:29 ET, Pressure gages indicate elevated BUY pressures and subdued SELL pressures. MDS stands still on SELL
03:52 ET, AFRICA=24 ( AFIL, Israeli stock from TA-100 index). Mission Accomplished. countdown was conducted on this stock from 7 monhts and 48 points ago and now countdown is finished. Africa low today 24,000. New lows are forthcoming and stay tuned. The countdown was online at http://www.globs.co.il/ Wall STreet Forum
09:28 et, As i noted yesterday the GOLD was stretched too far on the 60 min chart and we see the reaction ( somewhat delayed , today)
28 comments:
Boris.
Did ok today- enough to get the snowblower repaired. Another 6 to10 inches of snow tonight
thanx
old john
Do you think we may retest the lows of 1270?
Dear John, enjoy!
I doubt tomorrow, but possibility exists if this downdraft continues beyond the 8 th. Of FEB.
Boy that would be bad!
Good Trading Dear John
Boris,
Thanx again, been on the board 6 months now , have learned a lot.
ol john
Dear John,
Feels like a lifetime buddy.
learn till die, that is the way to go!
Good trading
Dear Boris and friends,
Looks like the markets failed miserably in testing resistance... chances are that we will probably revisit the recent lows.
In a Bear market, counter-trend rallies are very violent and sharp. Looks like we just had a classic Bear market counter-trend rally. Now we appear to have resumed the general downtrend.
Could be that we will retest the lows and break through it even lower. If we are in Bull market, I'd say that we'd successfully bounce off the lows. Since we are most likely in a Bear market, chances are that we could break through the lows.
I'm very interested to see what dear and generous Boris' data reveals in the coming trading sessions.
I'll be watching for the S&P RSI... as this chart shows, when we approach 30, we could be due for another counter trend Bear market rally.
Link to Graph
Cheers and Good Trading!
John, sorry about your snow. God appears to have unleashed his wrath around here. 68F days in February usually carry a heavy price. Gonna be a long night. Daveo
Dear Sang,Dave
thanks for your comments
thanks ,
Good Trading all
Good Morning Boris/All,
if MDS is still on sell and it can be on buy earliest tomorow, I think it's reasonable to go short now, small position. I did that at SPX 1345. Your thoughts?
Regards, Ivan
Dear Ivan,
As you know, i like to go short at my Attraction points. Now this method can be faulted cause the markets often have already made high(low) before they open 9:30 ET.
And then we miss the trade.
I prefer that way. You remember second rule of trading.
"Never worry opportunity lost" there is always another bus coming.
Now, if you are already short, just make sure that todays Apoints are not violated too much on the upside ( like beyond 4th and 5th)
Good trading
Dear Boris, thanks. You are right, as usually. SPX now 1342. Stop-loss, and that's it. Regards
Boris, do you think GBP could make one more attempt to 2.00 and a little above? Thanks
Dear Ivan,
the way i see cycles in gbp it should not happen. gbp should not go to 2.0 or higher especially after 21 feb 2008.
No guarantees you know Dear Ivan.
In fact I have some trades based on this idea, but I am already in profit and can afford to let them go there if they want to...
Good trading
Daveo,,
No snow yet at 530 central time. It is coming though. It has been a bad winter for snow shovelers and a good winter for skiers.
old john
John, 45 dead overnight, that'll change a little as the day dawns. We, my family, got lucky last night. Daveo
Dear John,Dave,
feel guilty with 68F and sunny in Netania, Israel
Good Trading
Boris.
You deserve it. If it was not for the Sopitalists I would have sold my house last summer and been in Arizona with my wife.
old john
Dear John,
You can still do it.
i presume the market in Ariszona is as bad as in your place or am i mistaken?
Good Trading
Boris,
It is worse in Arizona. I lowered the price on my present house 5 times. This is one of the best areas in the city but problems have started out here. Foreclosures two city blocks away. No one will even attempt to buy a house like mine when there are similar ones being foreclosed on and the banks are making a fire sale. 12 foreclosures in my zip code in the last 3 weeks, not good
old john
Dear John,
Let us hope that things get better. i really hope for all Americans sake! it is incredible how the people have been duped...
Is there anybody that is willing to share what is going on their area, without naming streets or addresses? It does not even have to be your neighbourgood.
Good Trading
Good trading
Boris,
A couple of the houses were remodeled to be flipped, the construction companies held on as long as they could and then went belly up.
A common mistake was buying more house than they could afford. People down the block did that and are now getting really desperate. A younger couple that should have stayed small but got into an ARM.
Another story I know is a couple of seniors ( like myself) bought their retirement home before selling their first residence. Now that puts huge pressure on the prices , especially if you have to take out a mortgage on your retirement home. This is real common.
And finally, many people with a total lack of financial planning.
old john
Dear John,
thanks for your reporting.
It helps to get the feel of the market.
Good Trading
I have this feeling that we are in for another plunge. Another here with any opinions ?
What may be the trigger ?
Dear Dollar PRoaragon
the trigger could be the YEN dive( even small)
Good Trading
I meant YEN quote dive( price advance)
Good Trading
Boris/John,
I used to live in Gilbert, Arizona, just outside of Pheonix from 2001-2004. I bought a 1700 sqft new home for 158K and sold it after renting it for a few years for 265K and if you can beleive that I actually missed the top around 300K.
I then moved to Austin Texas and bought 2700 sqft for 185K new, 10 min from downtown. The market here has risen recently but nothing like what happened on the coasts. I think one thing some what holding Texas back is the HUGE property taxes the gut you with.
My 300K home in AZ cost me 1,200 a yr in tax. My 200K house in Texas cost me 5K in tax.
Jason
Boris,
Your short term view on currencies against the USD? I am thinking we get a little consolidation/bounce against the USD then the USD takes control again in a couple days.
Jason
Hi Boris
Indeed, the 3.57 support for the SHEKEL is still valid.
we saw some 3.56 quotes before the terror attack at Dimona
I still there is a possibility we will see the SHEKEL in 3.50 level during the last week of februry.
Sharon
Dear Sharon,
Thanks for your view.
I can not rule out the level you mention. In fact, we never rule out any levels.
For us it is enough to know where the bombs(:- are and we thread carefully at those points.
Good Trading
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