Bquat's Account Talk

[Mcqlives]

But I hope that I am wrong and we are starting a new leg higher.

 

[Bquat]

OK...so much to talk about but there are way more question than answers so I'll make it short. I like your candlestick analysis and agree with it but, in the case of the 1050 mark, I was looking for an opportunity to make some money off of a short bounce. Instead it looks like a bounce off of 1120 on the market close or around 1100 on the overnight action. Either way, this is most likely a dead cat bounce (a rotten dead cat at that) which does not bode well for 1120 or even the 1100. I just hope we don't see 990. I'm sitting in the g until we break 1150 on the up or establish a solid bottom for a down.

Go figure! Right at 12 eastern the S&P hits 1150, how do they do that. It's as if big money knows its right after IFT time. O well I see again tomorrow.

 

[Mcqlives]

Go figure! Right at 12 eastern the S&P hits 1150, how do they do that. It's as if big money knows its right after IFT time. O well I see again tomorrow.

I hope it holds but I am still not optimistic.

 

[Bquat]

I hope it holds but I am still not optimistic.

there is a high base forming but some analyst say " wait for the move to be confirmed befor buying in" and I was looking for a solid break of the 1150 to jump today. I missed a lot of the loss, so I can miss some of the way up. Also Oscar always says " don't trade on a fed day" and you don't know how people will react to Ben. So I wait.

 

[Mcqlives]

I originally posted this in another thread...Just don't ignore this part of the s and p decision statement..."and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures."...but I did not want to get stuck in or cause a long political debate. I hope this doesn't happen on your thread.
I am not claiming to be a Dem or a Rep, but I am fiscally conservative. Why I am paying attention to that particular statement is that the committee that is being appointed is critical to what our economy does. If they can "envision" fiscal consolidation programs that reduce discretionary spending, and then get those visions into a bill that passes, then our economy may take off. I don't think they can do this because of the partisan politics of both parties. For example, when faced with the debt ceiling crisis along with the stated intentions of downgrading by Moodys and S and P if the debt is not reigned in the parties couldn't even talk. Fact: The only bills proposed until the last minute were ones by the republicans. One of them passed the house and went to the senate where is was administratively thrown in the trash can. The bill was never debated, discussed, talked about or anything else that educated people should do. All I want is for our elected representatives to think for themselves and not along party lines!!!
Until they do that, and work together, then I don't see long term bulls, only the bs.

 

[JTH]

Did you exit? Are you going to ride it out? It's looking bad and even worse under 1100.

I'm not likely to go below 1100.

 

[Bquat]

Well, You know what, I'm normally a republican but I am changing to: If you been in office over 6 years, I will vote against you. The leadership of both parties still haven't figured out what the people want. They voted for republicans the last election and democrats the one before that. they're voting out people in office not for party affiliation. Eventually they'll figure out that they volt for the other party every other election to get more of who's in out, not for their parties beliefs. Each time the other party gains the leaders think that their voting for them but they're just voting people out. it has gone too far and they can't admit to it. JMO

Post this 7/27/11 and still agree with it.

 

[PEP]

Post this 7/27/11 and still agree with it.

Term limits!

 

[Mcqlives]

Wow! Gone for the afternoon and now that I am back I see what I missed! What a close that was. 1172 sure is a solid close above the 1150 mark. Hopefully tomorrow morning will show us a solid up!

 

[FAB1]

So Bquat did we bust through where we needed to today? Im happy anyway. Tho cant help but think if Id just jumped out July 22 and gotten back in today how much MORE happy Id be. LOL>

 

[Bquat]

So Bquat did we bust through where we needed to today? Im happy anyway. Tho cant help but think if Id just jumped out July 22 and gotten back in today how much MORE happy Id be. LOL>

Yes I think I will enter tomorrow if this move is confirmed. I like the move after the 1100 hit. CNN is saying it was the Fed comments, but we went negative after them. I think 1100 was the line everyone was looking to hold. I hope it's enought to light up the bull market. Maybe I can catch the caboose on the train. I still need to see that this isn't just a bounce.

 

[RealMoneyIssues]

Yes I think I will enter tomorrow if this move is confirmed. I like the move after the 1100 hit. CNN is saying it was the Fed comments, but we went negative after them. I think 1100 was the line everyone was looking to hold. I hope it's enought to light up the bull market. Maybe I can catch the caboose on the train. I still need to see that this isn't just a bounce.

I have been hearing a lot of selling the rally. Do you think that will happen tomorrow, not to stay below 1100???

 

[JTH]

[FONT=Verdana,Arial,Helvetica,sans-serif][h=1]Bulkowski’s Review: Black Monday and the Crash of 1987[/h][/FONT]

 

[Bquat]

I have been hearing a lot of selling the rally. Do you think that will happen tomorrow, not to stay below 1100???

You know I don't really know, but I think 1157 recaptured the 200 day which gets us back to buying the dips. Right now I don't know in this buy and sell the news market. Technical Analysis hasn't been working. I'm just thinking of taking a chance for a little gain since I miss the drop. It looks like a lot of people are still riding this and I didn't see too many IFT out to lessoen their loss. So will see and I'll watch the tracker tomorrow a while and the market to deside.

 

[Bquat]

Well, I forgot that I have a doctors appointment today and hope I can be back at IFT time. With futures down I'm not taking the plunge. If this was the turn around they should be positive as somewhat confirmation. Market is still showing weakness. I'd rather miss a gane then take a chance of a loss. Being in the pond has saved me so much that it's relaxing to be here a while. I hope it's not deturing me from reengaging. A news base market has put a lot of investors at a loss and thats in the back of my mind. I think I got punked up with the big movement yesturday and futures calmed me down. Good luck guys, I should be gone 2 hours if I don't have to wait in the waiting room too long.

 

[Mcqlives]

Hope all is well. I did not pull the trigger today...but I almost did. 1125 was hit and held a few times and we could have seen the end of the downside from yesterday with a more solid base forming. I just need to see that it is confirmed before I shoot my last transfer of the month into S.

 

[Bquat]

Hope all is well. I did not pull the trigger today...but I almost did. 1125 was hit and held a few times and we could have seen the end of the downside from yesterday with a more solid base forming. I just need to see that it is confirmed before I shoot my last transfer of the month into S.

I agree with you here. There was no confirmation on yesterday's move and it may have big money trying to sucker people back in and took profit during future and morning trading. I'm paranoid right now and will still be looking tomorrow from the pond.

 

[Bquat]

Hope all is well. I did not pull the trigger today...but I almost did. 1125 was hit and held a few times and we could have seen the end of the downside from yesterday with a more solid base forming. I just need to see that it is confirmed before I shoot my last transfer of the month into S.

Not even a hesitation at 1225 on the way down and it may have stoped at 1120 because of the market was closing. Will look at futures at 12 am eastern tonight but I got my finger on the trigger guard and thinking of maybe putting on the safety and wait for strong confirmation to the up side. Might have to lay some eggs in this pond.

 

[Bquat]

Well here we are again at the 1150 to 1157 area. It would be nice if we can break this resistance area again and hold it a couple of days. We'll see. I think we can break it but will profits be taken again before the close?:notrust:

 

[jpcavin]

Well here we are again at the 1150 to 1157 area. It would be nice if we can break this resistance area again and hold it a couple of days. We'll see. I think we can break it but will profits be taken again before the close?:notrust:

Was wanting to go in today simply because of the hype and nothing more. Concerned about another afternoon selloff. What say you? Going in or waiting?