350zCommtech's Account Talk

[350zCommTech]

100% I fund.


Got to run.....

 

[350zCommTech]

This is a good place for EUR/USD to head back up. If that happens, the dollar would be going down. Good for I funders.

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[350zCommTech]

Oversold but nothing to get exited about here since a lot of the rally came as the USM sold off this morning. We need to see a hammer for Monday.

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[350zCommTech]

Is it time to panic yet? I don't know, but I think there will be some opportunities. :worried:

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[KevinD]

Is it time to panic yet? I don't know, but I think there will be some opportunities. :worried:

Opportunities for what? To panic? :blink:

 

[Uptrend]

Opportunities for what? To panic? :blink:

Panic –noun 1.asudden overwhelming fear, with or without cause, that produces hysterical or irrational behavior, and that often spreads quickly through a group of persons or animals.2.an instance, outbreak, or period of such fear.3.Finance. a sudden widespread fear concerning financial affairs leading to credit contraction and widespread sale of securities at depressed prices in an effort to acquire cash.4.Slang. someone or something that is considered hilariously funny: The comedian was an absolute panic.

 

[KevinD]

.

 

[350zCommTech]

Opportunities for what? To panic? :blink:

Sorry, I was in a rush when I wrote that. Another reason why the chart was a little fuzzy.

I meant to say that there should be some opportunites to catch oversold bounces before the market does a cliff dive.

 

[Bullitt]

I don't see anything bearish right now in the US Dollar. As far as the Eur/USD goes, fear the news from Spain.

But, I guess if you're playing those oversold bounces, who knows what the day to day could bring. Right now you've got a lot of people out there playing for two things.

1. A bounce, any bounce, because that's usually what happens after a small correction before the washout plunge of 3-5% lower.
2. A bounce on Monday because people tend to get excited on Mondays with their buying.

I now believe we've seen a major trendline breakdown in EFA with the close of 52.48 on Friday. Bulls have the 200 DMA and support around 48 below.

View attachment 8124

 

[350zCommTech]

I don't see anything bearish right now in the US Dollar. As far as the Eur/USD goes, fear the news from Spain.

But, I guess if you're playing those oversold bounces, who knows what the day to day could bring. Right now you've got a lot of people out there playing for two things.

1. A bounce, any bounce, because that's usually what happens after a small correction before the washout plunge of 3-5% lower.
2. A bounce on Monday because people tend to get excited on Mondays with their buying.

I now believe we've seen a major trendline breakdown in EFA with the close of 52.48 on Friday. Bulls have the 200 DMA and support around 48 below.

I see it too. The markets have turned.

I was never really good at knife catching. I hope I don't take one in the eye.:blink:

 

[Bullitt]

It started as just a feeling and I hate to sound negative, but I don't think this is going to be another one of those quick 4-8% corrections. After looking at chart after chart it's nothing but breakdowns. After reading article after article, it's "buy for the long haul, it's OK to buy now after this correction".

You saw it and so did any other sharp minds on this MB in December when the market 'broke higher' on horrible volume. I remember seeing the Dow Theory signal confirming the move but the volume and participation was terrible. Right now we've still got good inflows into mutual funds and most of that is probably tax return money and new IRA contributions front loading accounts. The crooks are more than happy to use that money as a diversion to slip out the back door right now and people are dumb enough to believe what's written by mutual fund managers.

 

[KevinD]

Sorry, I was in a rush when I wrote that. Another reason why the chart was a little fuzzy.

I meant to say that there should be some opportunites to catch oversold bounces before the market does a cliff dive.

I knew what you meant. Just another one of my feeble attempts at humor.

 

[350zCommTech]

The Nikkei recovered from a 70 point drop last night leaving the candle with a tail. Which pretty significant since it following 200 point drop on Friday.

The EUR/USD is rising as I predicted, helping the dollar fall.

View attachment 8129

The GPB/USD, on the other hand, is looking sick.:worried:

View attachment 8130

 

[350zCommTech]

The Dow(weekly) just kissed the 20dma. Needs to close above it today for this rally to continue. If not, lookout below.:worried:

View attachment 8131

 

[tsptalk]

Needs to close above it today for this rally to continue.

Today, or close above it this week?

 

[350zCommTech]

Yen carry trade is what is pushing this market up. Money is also coming out of bonds.

The market wants to finish green today and the Nikkei wants continue it's run tonight.

Resistance for the DAX is 5721. It's currently at 5647.

RUT is a little weak at the moment. Which means the S fund is tempting but I'm not going to waste a move on it.

GBP/USD needs to go!!!!!!!!!

 

[350zCommTech]

Today, or close above it this week?

Close above today to continue tomorrow. To close above it for the week would great but I'm near sighted.

 

[nnuut]

Your signature hits the nail on the head, thanks!
Fall of the Republic.http://www.youtube.com/watch?v=VebOTc-7shU

 

[tsptalk]

Your signature hits the nail on the head, thanks!

I watched it this weekend also. A little too much conspiracy theory, but eye opening. It said something about a part II with some answers. Has anyone seen it (or a link to it)?

 

[350zCommTech]

My gut says to take the money and run as this is just an oversold bounce. On the other hand, my charts suggests I should wait to see what happens tomorrow.:nuts:

Japan and Australia will probably open green tonight.

FTSE is at resistance at 5245.