06-30-2011, 11:29 AM | #1453 |
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anybody remember this chart posted awhile back...TA doesnt lie, only humans...not sure what that means but it sounds cool.......this is why charts are so important, its cuts through the BS...I want targets people and why!.......this chart was posted 8 days ago.
http://screencast.com/t/XZn5GHfM1nse ES/SPX should hit resistance just about now at 1318 level...what we do here will be key for rest of the year. If mkts accept above this level we will hit new all time highs in the mkts in approx 6 months...if mkts reject this level, the bear mkt will cont and make new intra-year lows. |
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06-30-2011, 11:30 AM | #1454 |
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06-30-2011, 11:34 AM | #1455 |
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SPX should see a high of 1322-23 today before the sellers come in and reject it hehe.
TF or Russell under performing...small caps usually tell the story regarding how much risk avg Joe wants...metals not up much despite weak dollar...I am sniffing at least a short term top today...we will see shooting candle formation today is my guess. I just like to talk to myself... |
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06-30-2011, 12:20 PM | #1461 |
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To add to my bearish sentiment jobless claims are at weekly 428k, they're over 400k for fifth straight week. Now do the job reports come out this Friday or next???
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06-30-2011, 02:52 PM | #1463 |
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I sold my SPXU at 17.40 Friday. Now it's at 15.60. Whew! Thinking about getting back in... a 4 day 4-5% rally is ridiculous just because Greece is kicking the can further. There still aren't any jobs, and a supply chain playing catchup from Japan is the only reason the Chicago index outperformed...
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07-01-2011, 12:47 PM | #1465 |
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I don't see MPEL continuing its parabolic move to the upside. Anytime a stock bounces like that I like to get out, wait for a retreat, then get back in. The others have way too awful of a P/E for me to be interested in them fundamentally.
Remember this simple rule: when you feel greedy, sell; when you feel panicked, buy.
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07-01-2011, 01:45 PM | #1468 |
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If you made $$$ there is no such thing. Rarely does anyone sell at the exact peak or buy at the exact valley.
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07-01-2011, 01:58 PM | #1469 |
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BIDU....target reached..above and beyond...this is gonna be one happy 4th for blowing some winnings
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07-01-2011, 02:45 PM | #1471 |
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I think this rally is pushed by a few factors:
1) Greece isn't collapsing this month. That's good. 2) Stronger than expected manufacturing. This is likely just catchup to fill orders effected from the Japan quake 3) Psychology. Investors are tired of the market bouncing and want it to go up, so they buy in droves. Feeding frenzy ensues. 4) Dollar weakening 5) Short covering. Lots of people will hit a 3-4% stop and trigger a closing of a short position. HOWEVER, there is still a lot going on politically and otherwise that could disturb the markets: 1) Debt ceiling is approaching 2) QE2 is over - rising rates 3) Chinese finance system starting to look shaky as their rates rise 4) Earning season - always a wild card 5) Consumer sentiment is bad 6) Job market is trash This rally is short term and should be faded.
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07-01-2011, 03:26 PM | #1472 | |
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Quote:
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07-01-2011, 04:14 PM | #1474 |
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I think gold and silver had greece default risk priced into it. Also, with the risk-on trade back and money flowing into equities, a good bit of that is coming out of the metals.
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