350zCommtech's Account Talk

[350zCommTech]

I've decided to go to the G fund. I will wait for Japan to panic.

Like they say, "No risk...No reward...".

I just called a no brainer for the I fund but I will probably spread it around. Tomorrow's GDP might cause the dollar to rise.

 

[fedgolfer]

The only winning bears from this point on will be the monsters of the midway. Unless Ben decides not to cut in the Sept meeting.

 

[350zCommTech]

The only winning bears from this point on will be the monsters of the midway. Unless Ben decides not to cut in the Sept meeting.

Helicopter Ben will cut in Sept. I'm positive on that.

 

[fedgolfer]

I will probably spread it around.

Where? Europe, Asia and Far East?

 

[350zCommTech]

Where? Europe, Asia and Far East?

LOL...:laugh:

 

[budnipper1]

Is the F about even so far today?

 

[350zCommTech]

Is the F about even so far today?

Yes, it is.

 

[350zCommTech]

Lets see if we can penetrate 1478 on the S&P.

View attachment 2041

 

[fabijo]

Lets see if we can penetrate 1478 on the S&P.

View attachment 2041

I was looking at it as if we already broke the down trend. Like this:

 

[350zCommTech]

I was looking at it as if we already broke the down trend. Like this:

The 50 EMA has been strong resistance and today, it was the 1478 level. And it looks I just got my answer. Bernake's statement was a BIG disappointment. While I didn't like his statement, I agree with him. We shouldn't bailout wall street. I just hope the end of the month thing can keep the market up for the rest of the day.

I'm thinking about running to the F fund.

 

[350zCommTech]

Lets see if we can penetrate 1478 on the S&P.

The 50 EMA has been strong resistance and today, it was the 1478 level. And it looks I just got my answer.

View attachment 2042

 

[350zCommTech]

This was not a good close.

S&P closes well below the 50 day EMA.

View attachment 2045

S-fund rejected at the 50 day EMA.

View attachment 2046

Dow drops 63 points in the last 15 minutes.

View attachment 2047

 

[JTH]

I noticed the slight dip in the last hour.

Pardon my MSPaint skills :cheesy:

 

[nnuut]

I agree 350, they touched it and it burnt their fingers. Let's not forget we still can revisit the recent lows. One reason I IFT'd to the "G".

 

[350zCommTech]

I agree 350, they touched it and it burnt their fingers. Let's not forget we still can revisit the recent lows. One reason I IFT'd to the "G".

Yup, I think the real tell was when the market sold off on both Bernake and President Bush. The bonds and the currency markets did not confirm the rally. This was probably a short covering/end of the month rally.

 

[FogSailing]

Monday and Tueday are going to interesting. On the one hand, I'm in a bit of shock that the S&P rose to 1478...I sure didn't expect it to try to break thru resistance today...so I'm bullish from the aspect that it did better than I expected today...by quite a bit..

The close was a not stellar...but we've seen a lot worse in recent days..

I am also hearing that the market will throw an unending number of curve balls towards Bernanke until he gives them their rate cut...so I'm hoping that these plays are all part of this game..

However, I 'm only willing to risk 25% of my cash on that premise..

Good Luck to All of Us Next Week and Have a Great Labor Day..

Heading to the Lake,

FS

 

[350zCommTech]

I noticed the slight dip in the last hour.

Pardon my MSPaint skills :cheesy:

From http://aheadofthenews.com/index.html

If bulls mean business, the inverted head and shoulder for SPX has an initial target of 1504,
followed by 1520 and 1533. But first, they will need a close above the neckline at 1480.
Conservative traders should wait for that trigger. Failure at 1480 will set up 1450/1455.

View attachment 2048

 

[RGP22407]

I look at the last 15 minutes as a sign that "someone" used the low volume to move the S&P500 index below the EMA(50) just enough to suit their purpose for the first business day of September.

Yes, I know that is a sign of paranoia, but aren't all Soldiers and Gov't employees paranoid by experience and necessity.

:nuts:

 

[350zCommTech]

Vix is finding support and looks like it whats to move up. I'm staying in F.

 

[350zCommTech]

The dollar should fall tomorrow on the jobs number. I'm gambling.