Bquat's Account Talk

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Heads up just for you guys:
SharpChartv05.ServletDriver
 
I subdued the ladder to look longer term. We may have found short term support. Maybe a bounce a little over 1%. Any less than 1776 I'm not trusting.:worried:
It has been a long time since I was able to watch the market from a safe position. I won't mind missing 1 to 1 1/2 percent gain to give you guys a chance for a higher exit.:) I hope you can figure risk / reward with this cleaner chart because I can't.:embarrest:
 
BQUAT, thanks for the moral support. I waited all last year for this correction and missed out on big gains. Now I find myself in the middle of it. I was up 1.4% last month but now i'm down 2% in one day. I'm in your camp as far as a bounce, I have lost confidence that we will have a very big one. JT usually has a target posted that has worked in the past. We need Birch to by a few million wall flowers and turn this market around.
 
rspring said:
BQUAT, thanks for the moral support. I waited all last year for this correction and missed out on big gains. Now I find myself in the middle of it. I was up 1.4% last month but now i'm down 2% in one day. I'm in your camp as far as a bounce, I have lost confidence that we will have a very big one. JT usually has a target posted that has worked in the past. We need Birch to by a few million wall flowers and turn this market around.
Click to expand...
If I had to come up with a number to watch: 1773.54321
 
So kind of looking at this mornings action and it's not looking as strong of a bounce futures were dictating. So look out for the fake out. Where futures are bought hoping dumb money will follow. I think, and I have nothing to show this (I mean Spidey thinks) when the 1% decision point where the market hesitates for user input there will be a choice to sell. Leaning more to 1764 or less. Just a guess but Spidey has been lucky lately.;)
 
What do you guys think about this pulse of the market. Lined up with my 1700. I drew it from the top and it was there when I expanded out.
 
Bquat said:
What do you guys think about this pulse of the market. Lined up with my 1700. I drew it from the top and it was there when I expanded out.
Click to expand...

I like it...but I still think that if we break yesterdays low we are headed for the 1665 area.
 
Mcqlives said:
I like it...but I still think that if we break yesterdays low we are headed for the 1665 area.
Click to expand...
Fed will announce something before then. At 8% the Fed will try to slow the correction down. At least that's how Greenspan and Bernanke would do it. :rolleyes:
 
Bquat said:
Fed will announce something before then. At 8% the Fed will try to slow the correction down. At least that's how Greenspan and Bernanke would do it. :rolleyes:
Click to expand...

That does make sense...maybe the bank interest rates will change. Along those lines, time to start watching the libor again with the dollar poised to fall.
 
Mcqlives said:
That does make sense...maybe the bank interest rates will change. Along those lines, time to start watching the libor again with the dollar poised to fall.
Click to expand...
If there is a 200 point drop in the Dow before the deadline tomorrow I will probably enter 50% to be ready for Fed action.
 
Bquat said:
So kind of looking at this mornings action and it's not looking as strong of a bounce futures were dictating. So look out for the fake out. Where futures are bought hoping dumb money will follow. I think, and I have nothing to show this (I mean Spidey thinks) when the 1% decision point where the market hesitates for user input there will be a choice to sell. Leaning more to 1764 or less. Just a guess but Spidey has been lucky lately.;)
Click to expand...
Bear flagging up to the 1%.
 
Bquat said:
So kind of looking at this mornings action and it's not looking as strong of a bounce futures were dictating. So look out for the fake out. Where futures are bought hoping dumb money will follow. I think, and I have nothing to show this (I mean Spidey thinks) when the 1% decision point where the market hesitates for user input there will be a choice to sell. Leaning more to 1764 or less. Just a guess but Spidey has been lucky lately.;)
Click to expand...
Bear flagging to the 1%. So like, I go to bowl and nothing changes.:)
 
Two things to be aware of. Monthly bearish until we break 1787. Midterm bearish cross (don't no if this is a death cross).:worried: May keep the market bearish.
 
I hate having a bearish bias but I have no idea how bad the mid to longer term damage is. Many feel because RSI levels are indicating over sold but can't they become embedded too?:confused: Smart people weigh in here:
 
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