Bquat's Account Talk

[cak165]

Good choice not to get in on friday. If Europe doesn't get it streight before Friday, I don't think many will hold over the weekend. Just a guess?

I have a feeling that the market will rally tomorrow and Friday or at least on Friday on the hope that they get it straight. They have no choice, they've dampened expectations, I think the markets are just looking for them not to screw things up or just get "stuck" as Sarkozy put it.

 

[Bquat]

I have a feeling that the market will rally tomorrow and Friday or at least on Friday on the hope that they get it straight. They have no choice, they've dampened expectations, I think the markets are just looking for them not to screw things up or just get "stuck" as Sarkozy put it.

You may be right it looks like were 50/50 here.

You never know for sure. I'm glad I don't have to choose.

You think a bull flag is forming?

How bout you McQ? JTH?

Here's the simple chart:

 

[Mcqlives]

Flat out, I don't know and can't say that I would feel comfortable making a guess. The main thing that keeps raising it's head in the economy is the European situation. Follow me for a few points... We all acknowledge that the new economies (largely consumer driven) have stagnated at best. We also know that the Euro member nations are plagued with debt ridden economies and, because of the lack of consumers, their manufacturing is dropping off. The US Economy is directly connected to both of these points because of the amount of debt that we owe to all of those countries. Once the blown smoke clears in Europe I think we will be in much better shape to call market trends but I don't how long they (EU) can drag this crap out. It has already gone on far longer than I ever would have guessed and I have given up trying to guess when their house of cards will come down.

All that being said, on a positive note, as a stand alone nation and in spite of the aforementioned debt, we here in the US have a significant opportunity for large growth (think of an appropriate Birch comment to insert here). I hope it comes sooner rather than later.

 

[Bquat]

Another thing for thought. In the past Oscar used to say flat tops cause big drops. This is also looking like a flat top at the 3 month chart and if we don't break to the upside soon, this will look like a failed move after a 14% rally coming to resistance and can't break it after consolidation. This is just the little bear looking for something. I just thought of this when McQ mentioned the word flat and the post below. I just always second guess things. Lucky it's a mute point for me but if I think it, it could happen (spidey sence?)

So lets break this 1330 level soon for those that are in. I'm safe and can catch the train later or miss the train wreck also. We're at the coin toss and it's goining to land heads or tails soon. Where do I come up with these bearish thoughts?

http://www.alphatrends.net/2011/10/19/failed-move-fast-move-again/ Just another heads up.

 

[Bquat]

I see a few people getting in today. I guess they're thinking we'll hit the bottom of the channel today. I think we may hit it tomorrow at 1190 S&P, which is a good resistance point. If we break it tomorrow, there will be shorting and selling with the current channel breaking. Such a coin toss area the Europe situation. If it holds and no bad Europe news, those that got in today will be buying into the dip and bounce. Me still Little Bear until 1190.

Here's a simple chart with todays lower high and lower low confirming a short term down trend.

 

[Birchtree]

Are we looking at tail #8 - this market does not want to go down by golly.

 

[nasa1974]

Are we looking at tail #8 - this market does not want to go down by golly.

Hope your right Birch. Fingers crossed.

 

[Bquat]

I see a few people getting in today. I guess they're thinking we'll hit the bottom of the channel today. I think we may hit it tomorrow at 1190 S&P, which is a good resistance point. If we break it tomorrow, there will be shorting and selling with the current channel breaking. Such a coin toss area the Europe situation. If it holds and no bad Europe news, those that got in today will be buying into the dip and bounce. Me still Little Bear until 1190.

Here's a simple chart with todays lower high and lower low confirming a short term down trend.

Shortly after 1 PM: Headlines suggesting that leaders from France and Germany will meet to discuss the issues facing the eurozone during the weekend.

Such a big move just on the news of the meeting is going to happen. Still a lower high and lower low.

 

[Bquat]

Here we go! Open right near the top of the channel. Is this a bull trap to take profit this afternoon or is this the run up to break the 1230 level. I don't know. It's a coin toss still. There was news of just about the eu meeting not any deals happened yet. I'm leanning for the trap, but you know me. I can't IFT anyways. So do what you guys want but keep your eyes open and I hope this is the breakout for you that are in and continues up for you guys entering today.

 

[Bquat]

Throwing the ball into the endzone as we write. Will it be complete, dropped or intercepted?

 

[Bquat]

Throwing the ball into the endzone as we write. Will it be complete, dropped or intercepted?

And they fumble at the one yard line. Maybe they can get the ball back.

This move is on speculation. Can the news be enought?

markets see a strong opening surge in anticipation that this weekend’s European Union Summit will provide some answers as to how Europe plans to combat its debt crisis

http://investing.money.msn.com/investments/market-summary/

 

[Bquat]

Throwing the ball into the endzone as we write. Will it be complete, dropped or intercepted?

They fumbled both both teams are fighting for the ball building a high base which is good. I go make coffee, yes?

 

[Bquat]

Touch dowm. Can we put on our Bull hats now?

 

[cak165]

Throwing the ball into the endzone as we write. Will it be complete, dropped or intercepted?

It's a one-handed catch in the corner of the end zone with the toes barely in! Play under review!!!

This is a market that wants to decimate the shorts for now, the longs will be destroyed shortly after...

 

[Bquat]

It's a one-handed catch in the corner of the end zone with the toes barely in! Play under review!!!

This is a market that wants to decimate the shorts for now, the longs will be destroyed shortly after...

Ok the 200 is at 1268ish and we'll see what happens there. I hope 1232 will hold as resistance and we set a higher high. We don't want a failed move at this great point in the market.

 

[Bquat]

Well this is the best positive event in 3 months. Do you guys think the peak will be sold because we're below the 200 (buy the dips above the 200 and sell the peaks below the 200)?
I'll just have to do a new chart if 1232 holds. I can do that. You know my bull channel is still good with a 1240 top for today. I may have to exit F fund if it holds also. Isn't it great this move happened before IFT deadline? The only bullish thing I can do is go to the pond. Just under an hour to see if it holds. Ok more coffee.

 

[Bquat]

100% G fund.

 

[Bquat]

It's a one-handed catch in the corner of the end zone with the toes barely in! Play under review!!!

This is a market that wants to decimate the shorts for now, the longs will be destroyed shortly after...

Now the shorts got the ball on the one yard line, trying to score against the longs.:worried:

 

[Bquat]

Looks like this didn't fool too many and they took today to lock in some profits. Maybe?:suspicious: Still can have the big sell this afternoon. Go F go maybe I can lock in some as I exit.

 

[Bquat]

Now the shorts got the ball on the one yard line, trying to score against the longs.:worried:

Touch down. Now see if they go for the 2 pt (-2%) play.