Bquat's Account Talk

[Bquat]

I remember at one time I had 1333ish as a strong resistance point and may have a slight chance of a bounce down from there. We're not moving down yet and seem to be moving sideways and sideways have been bullish lately. Up move sideways and up again, but 1343 has me scared as possible double top. Right now I feel bearish because we are hesitating at the top. I hate the coin tos areas and I can't word it like a stock analyst and say it as to be right if it goes up or down.

Ok I'll say it this way. Without the market moving up or down at the start of the day or moving the oppisite direction at the end of the day, "It looks like everything is built into the market, people are burnt out with the news and looking at big money to call direction". So now we are at wait and follow the the leader mode and I'm:

Bearish 55/45 and you?

Wait for it. I could be right. Just a little more down.

 

[Mcqlives]

Ok I'll say it this way. Without the market moving up or down at the start of the day or moving the oppisite direction at the end of the day, "It looks like everything is built into the market, people are burnt out with the news and looking at big money to call direction". So now we are at wait and follow the the leader mode and I'm:

Bearish 55/45 and you?

Around the same on a day to day basis. I am surprised that more is not being taken off the equities this week with big earnings expected next week. You would expect some speculation on earnings which would have some significant buying/selling...or at least some people doing shorts. With all the sideways action yesterday and today I am wondering how much of the earnings are already priced in. If very much is priced in then the big money won't call the direction but news might. If that is the case then I just hope it is not Portugal/Ireland/EU news. Too many if's at this point. Hell, I still haven't figured out if the drop in early March was a correction, a consolidation or a news driven sell-off.

 

[Bquat]

Around the same on a day to day basis. I am surprised that more is not being taken off the equities this week with big earnings expected next week. You would expect some speculation on earnings which would have some significant buying/selling...or at least some people doing shorts. With all the sideways action yesterday and today I am wondering how much of the earnings are already priced in. If very much is priced in then the big money won't call the direction but news might. If that is the case then I just hope it is not Portugal/Ireland/EU news. Too many if's at this point. Hell, I still haven't figured out if the drop in early March was a correction, a consolidation or a news driven sell-off.

ditto again for today. Now the chance of a gov. shut down is the thing that is holding this market down. Unless there is a break through, the market will sell. Still looks like news shock. So:

Still 55/45 bearish and with no move tomorrow I'll be more bearish because it will be more like a stall than bullish consolidation.

 

[Bquat]

Can't break that 1332...

Hope this works both way?

 

[Mcqlives]

Double head

 

[Bquat]

Double head

No, maybe not. I liked how 1332 and the market bounced and had a drift up. This is bullish, rising off resistance after touching it. Yesterday we rose at the first of the day and droped back down to resistance. So here we go again and I'll do a giaganic switch:

55/45 Bullish for tomorrow

Look out for 1343. We need to build up to it and build a high base below it and wait for any good news to hit at that time to jump it or else!

 

[Bquat]

Ok, I be looking for the 1300 ET move up so I can be right. Sorry for Japan folks.

 

[Bquat]

Theory 1: This whole week, including today, seems like day traders are buying premarket to get a jump on the market if it were to take off. When people follow with the buying and it doesn't go over resistance, the day traders take the quick profit and hour after the market opens.

Theory 2: POMO or QE2 buys premarket to try to jump start the market and dumb money follows. When a resistance level isn't gapped over, smart money and daytraiders short the market and buy back at the end of the day to cover at lower prices.

Theory 3: Is the burnt out theory, where we are drifting sideways between 1330 and 1340 untill good news hit at the right time to break resistance at once to gap 1343 and as to not worry about a double top.

I think theory 3 has it. The market is bullish and I am hoping this has been a bull flag, but the hesitation is the fear of a double top at 1343 and everyone and their brother is waiting to gap first anf follow big money buy in.
extry for JPCALVIN

 

[Bquat]

Oh, forgot. 1332 will hold and bullish 55/45

 

[jpcavin]

extry for JPCALVIN

I'll take it! Thanks.

 

[Bquat]

I'll take it! Thanks.

You are welcomed and I am very impressed with your post count. I'll be a while before 500.

 

[jpcavin]

Bill

Nothing to be impressed about. My posts don't have much market substance, if any. :laugh:

 

[FAB1]

Bill

Nothing to be impressed about. My posts don't have much market substance, if any. :laugh:

She will probably pass me by the end of the month - with little to say beside this: , lol, or giggle...

okay thats an exaggeration.

 

[jpcavin]

She will probably pass me by the end of the month - with little to say beside this: , lol, or giggle...

okay thats an exaggeration.

Or this..:toung:

 

[FAB1]

Or this..:toung:

Better Behave.

Big Botox is Watching You.

 

[Lostdawg]

Stop that! My eyes just recovered from the last time they got burned.

 

[jpcavin]

Stop that! My eyes just recovered from the last time they got burned.

You can always use ObamaCare for the Lasik surgery you always wanted.:toung:

 

[Bquat]

Ok, I'm back. Was a little busy today and didn't get to watch the market much.

First reaction was: What happened, a budget deal was made and no Gov. shutdown.

Well 1320 S&P is kind of a scarry place to go and maybe more down. I'm looking for a bounce off 1310-14ish. 1314 being the 50 day and 1310 being the 20 day and a good resistance point. If we can continue to go up from there and get the 20 to cross the 50, we can go bullish. Below 1310 would be real bearish.

My guess is bearish 60/40 and looking for a bounce.

 

[Bquat]

Ok, I'm back. Was a little busy today and didn't get to watch the market much.

First reaction was: What happened, a budget deal was made and no Gov. shutdown.

Well 1320 S&P is kind of a scarry place to go and maybe more down. I'm looking for a bounce off 1310-14ish. 1314 being the 50 day and 1310 being the 20 day and a good resistance point. If we can continue to go up from there and get the 20 to cross the 50, we can go bullish. Below 1310 would be real bearish.

My guess is bearish 60/40 and looking for a bounce.

Now we need the bounce. Watch for it.

 

[mayday]

Ok, I'm back. Was a little busy today and didn't get to watch the market much.

First reaction was: What happened, a budget deal was made and no Gov. shutdown.

Well 1320 S&P is kind of a scarry place to go and maybe more down. I'm looking for a bounce off 1310-14ish. 1314 being the 50 day and 1310 being the 20 day and a good resistance point. If we can continue to go up from there and get the 20 to cross the 50, we can go bullish. Below 1310 would be real bearish.

My guess is bearish 60/40 and looking for a bounce.

Still has to pass senator's hold.