Birchtree's Account Talk

[Devilduck]

Birch,

All but 5% in today. MACD has started a uptrend for both SPX and small cap. RSI is what concerns me. Is it possible the RSI is not telling us the whole truth because of QE2? What are your thoughts on reaching 70.0 and above? How much correction within the RSI can be expected?

Appreciate the translation.

 

[Birchtree]

I wouldn't be concerned about the RSI until it goes below the 50 level. Contrarians might worry if the RSI gets to the 90 level. MACD and RSI are turning up to support price, There is now an MACD cross over and an uptrend in force - we are in a bull market. So let the bears fight the trend all the way up and let the liquidity flow.

 

[Birchtree]

I've been patiently waiting for the small caps to give back some - but today they really pumped up my oceanic to the tune of $40K. I'm going to hold my strategy for the rest of the week and if we don't see a consolidation soon I'll move back my 20% to all in and probably into the S fund as a chaser - you can't be proud at a moment like this.

 

[Boghie]

I've been patiently waiting for the small caps to give back some - but today they really pumped up my oceanic to the tune of $40K. I'm going to hold my strategy for the rest of the week and if we don't see a consolidation soon I'll move back my 20% to all in and probably into the S fund as a chaser - you can't be proud at a moment like this.

Wait that long and you will be watching my tailights...

Not really, been kinda a bad year

 

[JTH]

you can't be proud at a moment like this.

IMHO you did the right thing in this particular situation, it just didn't work out or is yet to work out. It's still early in the month, a lot can happen in the next few weeks. If this market were to exhale it could get ugly real fast and it would be a shame if you had no dip to buy.

 

[Birchtree]

The DJTA closed above its' April high today - the DJIA goes tomorrow - this creates a super bullish sign, signaling they could continue up to the 2007 highs. Now wouldn't that be sweet - will mom and pop in bonds even care. A move to SPX 1250 projects a move to 1475 and then to 1577. Expecting big market swings, and then not getting them, can lead to a give up mentality - and I'm close.

 

[Birchtree]

The week ended 9/3/10 was the last time I made gains over $100K - and that was $138K. I think I'm getting ready to trip wire another big round - it could be this week if tomorrow just happens to explode. I'm starting to get excited because I think this market is going to start firing on all cylinders and 2011 is going to be the continuing year of a very nice mega trend secular bull market - can you smell what I'm cookin. The sweet smell of superlative bull manure is wafting once again.

 

[phillyfed]

The week ended 9/3/10 was the last time I made gains over $100K - and that was $138K. I think I'm getting ready to trip wire another big round - it could be this week if tomorrow just happens to explode. I'm starting to get excited because I think this market is going to start firing on all cylinders and 2011 is going to be the continuing year of a very nice mega trend secular bull market - can you smell what I'm cookin. The sweet smell of superlative bull manure is wafting once again.

After breaking some technical levels today, i see short covering adding some more fuel for the impending explosion.

 

[Birchtree]

That's a mighty fine Birchwood bat I'm sure.

 

[Birchtree]

http://www.marketoracle.co.uk/Article23977.html

Sorry no clues offered on this one.

 

[Devilduck]

The market dropped 3 points at 1050 with no additional volume. How does that equate? Learning as I go ....

 

[Birchtree]

The market is doing the dog paddle unil the Fed announcement at 1415 - then we'll see what happens. If we get a pleasant surprise then up we go. If we head down the small caps will get pounded to my delight. Toss a coin at this point.

 

[JTH]

That's a mighty fine Birchwood bat I'm sure.

There's a bat in that picture, I never noticed it...

 

[Birchtree]

It looks like here comes the judge - hurt me the way I know you can. I'll handle it with rope a dope. Gimme some pain - I've been waiting weeks for the train to get run over. The next three days of hammer time would be perfect - but if the Fed surprises then all bets are off for this go around. Bring it and please show no mercy.

 

[crws]

buy more oil stocks and you'll be fine...

 

[Birchtree]

Ya, BP is pushing $43. Maybe next week I'll start buying again to help the market.

 

[WorkFE]

Holding that 20% for at least another day eh.

 

[Birchtree]

Every day the market goes up that 20% G hurts a little more - as a masochist I'm totally psyched for a 200 point dump - but then again I seldom get my wish. So please allow the market to end my misery and crush my hopes - waiting for the Grand Trunk to come down the tracks. Such anticipation....emotion is my worst enemy. S funders could look like flatliners by the end of 4 days. Where the heck is that 4 year cycle pressure - don't tell me it has already passed back in July. The realization is I may have played this one all wrong.

 

[Devilduck]

Confused, why did market drop on 600 QE2 when expectation was 500?

 

[Birchtree]

The Fed will spend about $110B/month to try to potentially raise equity prices. Probably seeing profit taking on the news but we have an hour left for surprises. Sometimes the market doesn't want to act rational - keeps us all on our toes. I'm still waiting for a last hour sell off to help me out. I'm at the mercy of the market so let them draw blood.