Bquat's Account Talk

[Bquat]

S&P resistance points going up are 1290, 1295,1300, and 1330ish.
Support going down 1282, 1275, 1270 strong and if 1257 is broke:worried:.

Today looked ok to me. It broke 1282 today which now is support.

Seemed to me better than a dead cat bounce when it held today.

I'll have to look back at 2008 again to get more resistance levels. I guess QE is still helping.

Got to go senior bowl this afternoon and men's league tonight. Retirement can be busy sometimes.

PS The water right now may be the zero level in YTD or support levels below me.

 

[KevinD]

Rising tide lifts all...uh...water spiders?

 

[Bquat]

Since we are back in the channel on the S&P here is some of the resistance levels: 1318, 1330, 1385, and maybe 1400.

If we have some sideways consolidation and hold 1300, 1330 will be reachable because it is the top of the channel we just reentered.

1282 is now a stronger support level because it held after the bounce.

Support will be at 1300, 1295, 1290, 1282 best, 1275, 1270, and 1257 is last chance

I wish the nasdaq was doing better to make the market more bullish. It is supose to be a leader in the market.

These are just my guesses and I hope we consolidate a day or two to build a high base.

 

[Bquat]

Spider on top of G fund

 

[Bquat]

1302 held consolidation today. No profit taking with a drift back up. The S&P as you can see at the bottom of the page looked like computer programs twitching between buy and sale or traiders not wanting to decide today. Slightly bullish.

So Birch is this the idling engines of the bulls at the starting line waiting for the green light to hit the pedal?

 

[Birchtree]

We could see a rally today in anticipation of a good NFP number - QE2 is in full force and other liquidity continues to roll into the market. The market is acting as a liquidity gauge right now instead of a discounting mechanism.

 

[Bquat]

1302 held consolidation today. No profit taking with a drift back up. The S&P as you can see at the bottom of the page looked like computer programs twitching between buy and sale or traiders not wanting to decide today. Slightly bullish.

So Birch is this the idling engines of the bulls at the starting line waiting for the green light to hit the pedal?

Guess I was one day early. Market selling, Maybe just profit taking before the news. Come on 1295 hold. You know since birch was here you will turn.

 

[Bquat]

Ok, now that was a good test of the 1302 level. Buyers should see this as bullish and help strengthen this high base. Scare the short sellers and let us drift up more. Hope for good news tomorrow.

 

[Bquat]

Hope for a jump up tomorrow after jobs report. Up above 310 would be bullish, breaking S&P highs. If we can get over 1318 we will be above anuther resistance level that could act as support, which would be great.

Going down to 1295 and back up makes it better support. I still fill kind of bullish with the sell off and drift back to a higher high. I think this confirms either the new high base or that the fed is still using QE2 to raise the market. Can't fight the Fed.

Cross fingers for tomorrow, I'm 60/40 for good news.
Just my opinion.

 

[Bquat]

Cross fingers for tomorrow, I'm 60/40 for good news.
Just my opinion.

Well I guessed wrong.:embarrest:

Markets did go down a little. S&P 1302 held so maybe there wasn't too much disapointment. Looks like the dip is being bought. Hope we can make it back to 1308 today to keep the sideways consolidation going.Going down to 1302 and back up makes it better support.

Come on bulls buy the dip.

Unemployment down? Go figure, who would look for work in this weather?

El Paso is still having brown outs so I just got on line.

 

[Bquat]

Nice creep up on 1310 S&P today, even with slightly bad news. QE or someone is still buying the dips. Break above 1310 would be bullish. 1318 to 1322 could be resistance, with 1330 being strong resistance. Could the S&P go back down after hitting 1330. With the end of day gains and no profit taking, Monday could be good.

 

[Bquat]

A Monday morning gap up above 1318 S&P and a drift up to 1322 would be nice. It's possible with how the market was drifting up at the close Friday. With a lot of people not selling before the Superbowl weekend, it shows strength in the market. Some of the traders will be traveling back on Monday.

 

[Boghie]

BQuat,

I have two 'Samuel Adams Imperial White' 10.3% alchohol beers in me, but...

The only problem with ALL the equity funds (C/S/I) is that ALL of them are above their 200 day, 50 day, and 20 day averages.

We are talking momentum plays right now.

I just wish momentum will catch up with value.

Momentum is good till it is not so good. Then, gone.

 

[Bquat]

BQuat,

I have two 'Samuel Adams Imperial White' 10.3% alchohol beers in me, but...

The only problem with ALL the equity funds (C/S/I) is that ALL of them are above their 200 day, 50 day, and 20 day averages.

We are talking momentum plays right now.

I just wish momentum will catch up with value.

Momentum is good till it is not so good. Then, gone.

Is that like saying "The trend is your friend"? Let's see how things pick up in the spring when this record winter gloom goes away. Enjoy the game.

 

[Bquat]

A Monday morning gap up above 1318 S&P and a drift up to 1322 would be nice. It's possible with how the market was drifting up at the close Friday. With a lot of people not selling before the Superbowl weekend, it shows strength in the market. Some of the traders will be traveling back on Monday.

Guessed right on this. Wish I could do this all the time. Come on buyers, buy it up over 1322 to maybe 1330.

1322 probly be good resistance and maybe will consolidate there.

 

[FAB1]

I have two 'Samuel Adams Imperial White' 10.3% alchohol beers in me, but...

We were at a pizza joint on Saturday and I got a Honeycrisp Apple Cider, sounded innocent enough - but...wowee! :nuts:

Of course coming in a quart bottle might have made a difference. :cheesy:

 

[Bquat]

Well Birch come in and post some bullish thought. Lucky charm.

The afternoon buyers should see that 1320 is holding and they should help help the S&P drift up to 1327ish. Let's get bullish here. Today should of confirmed that the market is still bullish.

1330 should be hard to break and may cause some profit taking.:worried:

 

[Bquat]

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

 

[Birchtree]

With a wall of worry like this we are probably safe until SPX 1360 to 1370.

"Over the last four decades, according to Vickers, this ratio has averaged between 2 and 2.5 to 1. As a result, the firm considers any reading above 2.5 to 1 to be bearish, since it indicates an above average pace of selling on the part of insiders.

In mid December this sell to buy ratio stood at 7.07 to 1. For the week ending Jan. 21, the comparable ratio was even more bearish at 7.74 to 1."

http://www.marketwatch.com/strong/corporate-insiders-steadfastly-bearish-2011-02-08

 

[Birchtree]

With a wall of worry like this we are probably safe until SPX 1360 to 1370.

"Over the last four decades, according to Vickers, this ratio has averaged between 2 and 2.5 to 1. As a result, the firm considers any reading above 2.5 to 1 to be bearish, since it indicates an above average pace of selling on the part of insiders.

In mid December this sell to buy ratio stood at 7.07 to 1. For the week ending Jan. 21, the comparable ratio was even more bearish at 7.74 to 1."

http://www.marketwatch.com/story/corporate-insiders-steadfastly-bearish-2011-02-08