Bquat's Account Talk

[Bquat]

Heads up just for you guys:

 

[Bquat]

Enjoy the pain and sink more money into it - you'll be glad you did some months down the road.

I want to reenter at a lower point. Ok, I want to enter at an even lower point.:toung:

 

[Bquat]

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:

 

[rspring]

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.

 

[Bquat]

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.

If I had to come up with a number to watch: 1773.54321

 

[Mcqlives]

If I had to come up with a number to watch: 1773.54321

you forgot the "ish"

 

[Bquat]

you forgot the "ish"

1764ish to 1773ish:

 

[Bquat]

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.

 

[Bquat]

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.

 

[Mcqlives]

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.

I like it...but I still think that if we break yesterdays low we are headed for the 1665 area.

 

[Bquat]

I like it...but I still think that if we break yesterdays low we are headed for the 1665 area.

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.

 

[Mcqlives]

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.

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.

 

[Bquat]

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.

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]

No entry today guys. I am surprised how well my new rung is doing.

 

[Mcqlives]

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.

Ditto..maybe more, and I am looking at the I fund.

 

[Whipsaw]

Speaking of Fed action... the debt cieling fight is looming again, cieling should be hit by end of the month. More downward pressure?

Treasury chief asks for bipartisan approach to debt ceiling | Fox News

 

[Bquat]

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.

Bear flagging up to the 1%.

 

[Bquat]

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.

Bear flagging to the 1%. So like, I go to bowl and nothing changes.

 

[Bquat]

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.

 

[Bquat]

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? Smart people weigh in here: