Bquat's Account Talk

[Bquat]

Stay in because you are seeing a continuation of the toasted Obama-Baloney goodbye rally - there are more gains ahead.

Thanks. Well we have set a higher high since the dip and I would love 1458 be the higher low. So being above the moving averages I'll stay.

 

[wavecoder]

the s&p has been killing it today, I shoulda went C-fund :laugh:

 

[Birchtree]

sniper, this is for you.

Where Ken Fisher Is Finding Value | The Guru Investor

 

[wavecoder]

sniper, this is for you.

Where Ken Fisher Is Finding Value | The Guru Investor

Thanks, makes sense. Comparing the S&P and Russell 2000, the S&P is looking like a nicer chart as well.

 

[Bquat]

Another small move up but a solid breakout of an isometrical triangle, got us above a strong resistance line (purple) and into an asending triangle.
Only have to worry about two pink circles. Get above 1467 and off we go. Ok anyone feeling contrary to this please state so. I hope the jobs report is ok.

 

[Cactus]

Another small move up but a solid breakout of an isometrical triangle, got us above a strong resistance line (purple) and into an asending triangle.Only have to worry about two pink circles. Get above 1467 and off we go. Ok anyone feeling contrary to this please state so. I hope the jobs report is ok.

I'm afraid it will go right back down tomorrow -- one of those buy the rumor sell the news things, but what do I know.

 

[Bquat]

I'm afraid it will go right back down tomorrow -- one of those buy the rumor sell the news things, but what do I know.

If there wasn't a posibility of it happening, it wouldn't come to your thoughts. A lot of people don't know the power of a second guess. Remember as a kid when you took mutible questions tests. A lot of times when you went back to a perticular question and changed it you were right. It's when you review the test and change answers you make mistakes. So there we have it, the thought is there, and the people are informed now that my chart is not 100% right, but what do I know.

 

[Bquat]

I was kinda going with this pattern repeat Being another Birch Chart it may not happen but I could use 2%. As Catus said we can get a sell the news thing. I going with an idea that this is a pattern repeat. What do I know?:notrust: Hopfully it will start to happen before the deadline and I can't be misleading if wrong.

 

[Bquat]

Got it.

 

[Cactus]

If there wasn't a posibility of it happening, it wouldn't come to your thoughts. A lot of people don't know the power of a second guess. Remember as a kid when you took mutible questions tests. A lot of times when you went back to a perticular question and changed it you were right. It's when you review the test and change answers you make mistakes. So there we have it, the thought is there, and the people are informed now that my chart is not 100% right, but what do I know.

You're right, Bquat. It's just that with those tests just about everyone got over 50% right. With this stuff it feels like no matter what descision you make, it's wrong. It's the emotions getting in the way again saying might as well leave it in the G or L Funds. If you always get a gutter ball trying to pick up that 7-10 split, you might as well go straight for the 7 pin since you know you can do that. Looks like we're starting the day up. Let's see how it finishes.

 

[Bquat]

You're right, Bquat. It's just that with those tests just about everyone got over 50% right. With this stuff it feels like no matter what descision you make, it's wrong. It's the emotions getting in the way again saying might as well leave it in the G or L Funds. If you always get a gutter ball trying to pick up that 7-10 split, you might as well go straight for the 7 pin since you know you can do that. Looks like we're starting the day up. Let's see how it finishes.

That exactly what I do with that split. I was looking for an inflated jobs report somebody, I mean the economy needed. Luckyly QE3 was unlimited otherwise this news would of been sold if QE3 was in question.

 

[Bquat]

Now testing resistance turned to support again. If we stay above the blue line 1/2 hour the buying should resume because this won't be just a buy the news move.

 

[Bquat]

Now is a good time to ask ourselves if the last 3 days up move is one of Oscars holiday trend reversal moves. Yea I had to bring it up because Tuesday this can reverse. I don't watch him hardly any more but he drilled this into my head. But even the weekly should be bullish by now. JTH?

 

[Bquat]

I'm staying in but I could be wrong. Chart looks good.

 

[wavecoder]

Now is a good time to ask ourselves if the last 3 days up move is one of Oscars holiday trend reversal moves. Yea I had to bring it up because Tuesday this can reverse. I don't watch him hardly any more but he drilled this into my head. But even the weekly should be bullish by now. JTH?

depending where this ends up, if it can't break and hold the 20day sma then i might be gettign out. all depends where it closes

 

[Cactus]

depending where this ends up, if it can't break and hold the 20day sma then i might be gettign out. all depends where it closes

Looks like it's going to be another day where we start high and decay into being flat. So what do you think? Profit taking? Getting out before the weekend?

 

[remark]

Looks like it's going to be another day where we start high and decay into being flat. So what do you think? Profit taking? Getting out before the weekend?

IFT required by noon EST. With TSP closed on Monday we are in what we are in until Wednesday, at the earliest. Positive thinking with several adult beverages over the long weekend and good to go! Best of luck!

 

[JTH]

Now is a good time to ask ourselves if the last 3 days up move is one of Oscars holiday trend reversal moves. Yea I had to bring it up because Tuesday this can reverse. I don't watch him hardly any more but he drilled this into my head. But even the weekly should be bullish by now. JTH?

Thanks for thinking of me buddy, although my charts are bullish, I am not. I'm looking for a pullback off the SPX double top, back down to the SPX double bottom, so for now the trading range is 1430-1470 until proven otherwise.

View attachment 20635

 

[wavecoder]

Looks like it's going to be another day where we start high and decay into being flat. So what do you think? Profit taking? Getting out before the weekend?

kinda too late for that now since it's past the deadline, so I can't get out for the weekend

As for stock positions, i'm sitting on cash right now, I try not to trade consolidation periods too much since it's kinda rolling the dice. Still as long as the bottom channel resistance isn't broken I'm still semi optimistic about a rally to the upside, but I'm less confident in it because of the failure to hold above the 20-day.

not to mention the hammer candlestick yesterday immediately ran into another reversal pattern (if the close is where it's at right now), which is usually not a good sign

It's almost like yesterday's rally was because of the republican's win at the 1st debate, and today's news about the unemployment rate going way down is making people second guess a republican win, and back down we go? (Not trying to spark a political debate, just seems to be general consensus that a republican winner = market up)

edit: aaaaaaand as I'm typing this, huge selloff lol.

 

[Bquat]

Well, even though we broke even, why do I feel like I have a nose bleed?
Ok here's my thought. Everyone figured out the drop in unemployment was not because of jobs gain but because of unemployment benifits running out and this is a falling knife as more and more lose benifits and stop looking.
So my ta sucks again while it looked so good.:embarrest: Thanks JTH and you other guys for comments and visits. Here's what I got for now and I hope things are neutral at least. And yes any good news is welcomed.