Bquat's Account Talk

[Bquat]

My hopes are on 1300 as strong support, but the overseas markets are hurting pretty bad - looks like our dip yesterday overflowed on to them.

Glad I am not in the I fund today at any rate.

Well 1304 was the charm but it doesn't look that strong because it didn't even try for 1318 resistance and if 1309 doesn't hold it's like a low base consolidation.

 

[Fireant]

It is going DOWN if oil holds here or rises...

 

[Bquat]

Looks like QE2 buying in and sellers taking the money, buying more in and the sellers taking it and so on.

This looks like some are selling the peaks and someone buying the dips. A tug a war at a low base.:worried:

Not a bounce today just more consolidation and todays action looked like bears were in with stops at 1309 looking for the drop because of a lower high and Bulls were in with stops at 1305 hoping for a bounce and run at 1306. Neither happened and the oscillation between buy and sell caused a low base to form. Weakness is bearish.

Sooo, we're still at a tough desision place and yesterdays comment is still good. Low base Touch 50 DMA

I'm 70/30 bearish.

 

[Bquat]

This was a morning suprise. Just buying up the news that Libya is having peace talks. I think this is just overeaction and speculation.

1330 still is where any bulishnish can happen. I don't really trust this.

Now let's see gas prices go down. They'll probably go down slowly to get more profit. They went up just on the speculation of a shortage.

1330 is still a lower high and a strong resistance point and people may just take today to take profits.

 

[FAB1]

It is going DOWN if oil holds here or rises...

Well 1304 was the charm but it doesn't look that strong because it didn't even try for 1318 resistance and if 1309 doesn't hold it's like a low base consolidation.

So was yesterdays low 1304, is that what you are saying? I just know it bounced a little below the nil line. If so thats pretty close to 1300, right?

Fireant quit being so optimistic, will ya?

 

[FAB1]

This was a morning suprise. Just buying up the news that Libya is having peace talks. I think this is just overeaction and speculation. I don't really trust this.

Really? I dont see why - the SP500 is still down -2.34 in the last 7 trading days. C,S, I are all in the red since 2/23.

Buy low, sell high. we arent back to the highs of around 2nd week of Feb.

Get on aboard or get left behind. Who believes we are in a Bull market? Besides, birchtree that is. :toung: (im done, for now)

 

[Birchtree]

QE3 is just around the corner - Bernanke continues to elevate equities.

 

[FAB1]

QE3 is just around the corner - Bernanke continues to elevate equities.

I hope when the Big Bubble bursts you have some cans of beans stored in the basement!

:laugh: - (I do, and lots of other tasty things to eat)

 

[Bquat]

So was yesterdays low 1304, is that what you are saying? I just know it bounced a little below the nil line. If so thats pretty close to 1300, right?

Fireant quit being so optimistic, will ya?

The bounce is like a 1 1/2 % gain after reaching a double bottom with like people buying and it ramping up. It just oscillated between 1306 and 1315. I took 1318 as a previous resistance level and a stop there would have been a high base forming there to break resistance level. It looked like a small rally that just lost steam and fizzed out.

Today wasn't a bounce, it was a reaction to the news. But you never know it just might be what the market needed? But mho and just mho is that 1330 will hold which may be a double top.

 

[Bquat]

I think I type too slow with two fingers look three more posts and I just finished my reply.

1330 is the key Birch and I don't think we'll break it on just this news. Didn't want to post this in your account. Good luck buddy.

 

[FAB1]

I think I type too slow with two fingers look three more posts and I just finished my reply.

1330 is the key Birch and I don't think we'll break it on just this news. Didn't want to post this in your account. Good luck buddy.

Okay, thanks for the details!

 

[Bquat]

High base forming (gonna take profit?,gonna take profit?,gonna take profit?) market guessing?

 

[FAB1]

High base forming (gonna take profit?,gonna take profit?,gonna take profit?) market guessing?

Oh cmon - we have to eat lunch. Patience grasshopper.

 

[Bquat]

OK, we eat lunch now, yes?

Afternoon market, start it will, soon, yes?

Eat now I will.

 

[Mcqlives]

Oh cmon - we have to eat lunch. Patience grasshopper.

Lunch should be nice after this afternoon.

 

[Bquat]

High base forming (gonna take profit?,gonna take profit?,gonna take profit?) market guessing?

Well I was wrong here. I thought the market would sell off in the afternoon. Well it continued to creep up to the 1332 and settle at 1330.
Well here we are at the resistance level which is our lower high. It's a strong resistance point and where bears and bulls draw the line. Above this point the bulls have it. Below the bears win. If we break this level or consolidate here it increases are chances of going higher and Fridays have been good lately.

Well I'm the emotional type and a buy the news with a low volume drift up is not that strong. We been showing a lot of volitility lately and been swinging up and down. I still a little bearish and think any bad news can change things. I think this is an over reaction to he news and it was just talk of peace. Maybe back down to 1318?

 

[KevinD]

Just wanted to stop by and say that I enjoy reading your comments. You're doing all any of us can do which is to observe the markets and try to make your best guess where it'll go next. Props for putting your thoughts out there for all to see and read.

 

[Bquat]

Just wanted to stop by and say that I enjoy reading your comments. You're doing all any of us can do which is to observe the markets and try to make your best guess where it'll go next. Props for putting your thoughts out there for all to see and read.

Well, thanks Kevin, I was just a 1/2 day off on my guess and as always these are just guesses.

 

[Bquat]

Hey Birch, You know how I don't like to post anything negative in your thread, so answer this when you get back from gardenning. Can't increased volitility in the market with larger swings in direction indicate a change in trend comming? We may be starting the correction before S&P 1400 is reached because of Mideast unrest. I like your bullish take on this.:worried:

 

[FAB1]

Not convinced that we are sluggish today has much do with the 1330 ceiling, this is Oil vs. Stocks and Oil is winning for now.

If this fear subsides we will bust the ceiling probably early next week.