Bquat's Account Talk

[Bquat]

Consolidation today at about 1320.I hope no afternoon selling.:worried:

That was a suprise. I thought it would just sell back down to 1320. But another drift up day. Somebody must be buying in.

Birch's visit brings it up. Especially the double post for reiteration.
His name sure gets more people to look at my post.

Retest of the 1320 establishes it as better support. Can the S&P jump from 1325 to 1330 and hold? Strength in the afternoon Friday was bullish for Monday, lets hope for a repeat.

Break 1330 should be bullish, but 1330 can be a good resistance point.

Good luck guys.

 

[Bquat]

This may be a little profit taking or shorts taking a chance that the market will go down today. When they see that 1320 held three or four times they'll have to cover their shorts and see that QE2 is still buying dips, which can change the market direction. 1327 S%P has been a bother so let's just go to 1330. Ok buyers.

 

[Birchtree]

"Believe it or not a large number of stocks, perhaps even a majority of them, are already above where they stood at the stock markets all-time high in October 2007." If we had a market P/E of 30 I'd be worried - but not at 13. The fun will continue to be the ride to a P/E level of 19 and a potential 43% gain in the market from here.

http://www.marketoracle.com/story/will-market-soon-surpass-its-all-time-high-2011-02-09

 

[Bquat]

This may be a little profit taking or shorts taking a chance that the market will go down today. When they see that 1320 held three or four times they'll have to cover their shorts and see that QE2 is still buying dips, which can change the market direction. 1327 S%P has been a bother so let's just go to 1330. Ok buyers.

Well that was my bullish rant.

If 1320 is not confirmed as new resistance tomorrow, I will take this dip as a bullish flag. We need to see lower highs and lower lows before concern and as Birch say's "We need a dip now and then to keep the wall of worry to continue upward".

 

[Bquat]

Well I posted in two other threads to get my 100th over with but I guess quoting back doesn't count or maybe there is a delay in counting them. We'll see and Steady I will try to give you it if I can.

 

[Bquat]

Ok Steady there you go!

 

[Bquat]

Ok, don't make me have to repost support levels!

Make it back up to 1320. Don't give me the lower high.

Bulls buy this dip, right?

 

[Bquat]

Well TSP talk was down for a while for me. Markets went up while my last post was going through.

So, did I do that?

 

[Bquat]

Darn it looks like 1320 does want to reestablish itself as resistance.

Maybe Birch is out buying flowers and we'll see a rise as he buys.

It's been a while since a seen a page without a post from him.

 

[jpcavin]

Birch is playing the Movie Game.

 

[Bquat]

Birch is playing the Movie Game.

I thought he was busy reading Steady's post. There long sometimes but fun to read if your a reader or writer.

 

[jpcavin]

I am new so I read EVERYTHING! And yes, I find myself looking forward to reading some of the posts. :cheesy:

 

[Bquat]

Alrighty then. If you look at the S&P (SPX) over ten days, you see a four day high base formed around the 1320 level. My opinion is that this bullish and that the S&P should go up from here. If the bears wanted to take over we would have gone down 1% or more today.

This is just what my thinking is and what do I know?

Resistance 1325, 1327, 1330 strong, 1385 and 1400.

Just showing resistance because I'm 60/40 bullish.

Good luck and what do you think?

I think you should keep trying to guess what the market might do and build confidence as your guesses improve.It might make good practice for future decisions.

 

[jpcavin]

I am clueless because I don't know what effect current events have on the market. For example: Inflation vs recession, war vs peace, dollar value vs dollar devaluation, unemployment down vs unemployment up, interest rates increasing vs interest rates decreasing...etc

Looking at the charts, I see that the SPX topped around 1527 in March 2000 and 1557 around Sep 2007. I see where the SPX is hovering around 1320 so it's possible for it to reach preivious highs. However, how do I know which direction it's going? Which particular events have an inpact on which direction it goes?

I think I need to create a flowchart...LOL

 

[Bquat]

I am clueless because I don't know what effect current events have on the market. For example: Inflation vs recession, war vs peace, dollar value vs dollar devaluation, unemployment down vs unemployment up, interest rates increasing vs interest rates decreasing...etc

Looking at the charts, I see that the SPX topped around 1527 in March 2000 and 1557 around Sep 2007. I see where the SPX is hovering around 1320 so it's possible for it to reach preivious highs. However, how do I know which direction it's going? Which particular events have an inpact on which direction it goes?

I think I need to create a flowchart...LOL

Watch the videos in poolman's thread each night. The stockmenter and free online trading education will help you learn. The others are for people doing more for active trading. Try these free sites.

[URL="http://www.freeonlinetradingeducation.com"]http://www.freeonlinetradingeducation.com[/URL]

[URL="http://www.thestockmentor.com/market-videos"]http://www.thestockmentor.com/market-videos[/URL]

[URL="http://www.alphatrends.net"]http://www.alphatrends.net[/URL]

[URL="http://www.buysellshort.com/category/videos"]http://www.buysellshort.com/category/videos[/URL]

 

[jpcavin]

Thank you B! I will definitely do some reading tonight. Much appreciated.

 

[Bquat]

Thank you B! I will definitely do some reading tonight. Much appreciated.

When you hit the page save it to your favorits before viewing video.

 

[Bquat]

Thank you B! I will definitely do some reading tonight. Much appreciated.

Write This down:

1. Select TSP Talk.com upper left of this page.

2. Select message board on Blue banner.

3. Select Members Account Talk

4. Select new thread and name it: jpcalvin's Account Talk

Regive a brief intraduction of what your statis is. ie: 20 years to go.
I think I would like to be a risk taker or I'm retired and want to keep safe with modiest gains. etc

This will be your account and if you don't see it on todays post you can look for it buy using steps 1 through 3.

Ask some of your questions in it and other members will more and likely answer them.
That way you don't have to re-visit 8 or 9 accounts for answers.
Plus you can review them in one place and have record of them.

You can post your own comments and their will be others that wiil let you know if your right or wrong.
This site has always been here to help members with their TSP.

I could't find your own talk thread and I think this will give you a home base to feel confortable.

 

[jpcavin]

Didn't know the benefits of having my own thread. Was thinking about it earlier and you just confirmed it for me.

 

[Bquat]

Well S&P 1330, thought maybe a bounce down after hitting it. We hit it and went only down a little and tested it again and only went down only to 1329. Did we just run out of time to get back down to 1327? I don't think so. I think it just was a hesitation from hitting a strong resistance point.

Here's the 50/50 chance question?

Do we do a repeat of last Monday's performance after a bullish Friday and jump above 1330 and drift up towards 1385?

Or do we consolidate here and build a new high base around 1330.

My guess is the jump. Some bears may think this is a good place to short the market but I didn't see any sell off. I think QE2 is still making the market bullish and some strong bad economic news is needed to negate it's effect.

Just my guess and daily practice of guessing the C fund.

Now time to make the coffee and watch market video's and see if they think the same. Some of them should be posted by now.