Bquat's Account Talk

[Bquat]

I wouldn't be surprised to see a strong sell off before closing bell. Profit taking before the last week of February and the holiday.

Oscar from Live with Oscar used to always call for a 3 day weekend reversal pattern. That was weird because the sell off usually starts on Thursday and continues through Friday and reverses back on Tuesday. I think stocks may have been falsely bought up this morning to cause a bullish trap on the little guy and like you said will see a big sell this afternoon.

 

[Bquat]

Look at the buy and sell programs triggering against each other causing a ringing effect or is this QE buying and the market selling with more valume.

 

[Bquat]

Today a bullish trap with day traiders buying the market up with small traders following. Bears and day traders selling short after the peak to maket profit and short sellers buying back at lower prices just before the close.

TSP wise just a consolidation with slight gains in the C and I funds, a slight loss in the S fund and noneventful day for the F fund. All the morning hopes with such a good start to be sold for profit by close.

Still slightly bearish even with the false strength at the close.

 

[Bquat]

I still fill a little bearish. I think the rise on the close was some buyers getting back in after selling at the top to be back in after taking profits and others buying the dip at 1338 thinking it was a good place to get in.
I just got the feeling.:worried:

Since we can't have stops, I leave emotions in and that may be my problem.:notrust:

 

[Bquat]

Is this a low base forming which is bearish and we head lower?:worried:

 

[Bquat]

1330 not holding. Here's some resistance points:
1318
1300 posible bounce
1295
1290
1282 strong bounce potential.

 

[Bquat]

1330 not holding. Here's some resistance points:
1318
1300 posible bounce
1295
1290
1282 strong bounce potential.

Most of the damage is done, but I'm still feeling a little bearish but maybe a dead cat bounce tomorrow then back down to 1300 to 1282 for a 3% correction. Maybe we'll build a low base around 1318 area which is bearish.

There needs to be at least a 1% gain tomorrow or it will be a bearish flag. Which means another 1 to 2% down. Slightly:worried:

 

[Bquat]

Doesn't look too good. Looks like the computers switching between buy and sell programs looking for direction.

Looks like a low base forming whish is bearish. Hope 1300 holds or look at my last post.:worried:

 

[FAB1]

Looks like a low base forming whish is bearish. Hope 1300 holds or look at my last post.:worried:

Real close to breaking 1300 now.

 

[Bquat]

Real close to breaking 1300 now.

Yea, look at the turn down in the S, I guess the sell programs are kicking in.

Just looked a hesitation on 1302 on the S&P. You guys that are in cross your fingers.

 

[Bquat]

Looks like another lower base building up at support. Another bear flag not a bounce and maybe more selling comming this afternoon.

 

[FAB1]

At 1:19PM EST: 1,299.80

15.64 (1.19%)

Aiiiiyeee!!

 

[Bquat]

This is looking soo much like the November 5th correction. Had a good buy up just before the 5th triggering profit taking and about a 3 to 4 percent correction and return to the QE2 bull trend buy in. So maybe the turn soon, maybe 1295 or 1282ish, and back to the Bull. Right Birch?

 

[Bquat]

Looks like a big dip in the F fund. A lot of day traders getting out of bonds to reenter the market. Looks like the turn around might be here already.

 

[Bquat]

Most of the damage is done, but I'm still feeling a little bearish but maybe a dead cat bounce tomorrow then back down to 1300 to 1282 for a 3% correction. Maybe we'll build a low base around 1318 area which is bearish.

There needs to be at least a 1% gain tomorrow or it will be a bearish flag. Which means another 1 to 2% down. Slightly:worried:

No dead cat bounce and we did bounce off 1300 but didn't get back above 1315 to build the lower base. I'm more bearish because this confirms a bearish flag and with a lower low and lower high it confirms more down trend...

I think this is still relavent:

This is looking soo much like the November 5th correction. Had a good buy up just before the 5th triggering profit taking and about a 3 to 4 percent correction and return to the QE2 bull trend buy in. So maybe the turn soon, maybe 1295 or 1282ish, and back to the Bull.

 

[Bquat]

Showing the S&P with the 13 day moving average. Showing the last two bounces were and if we don't turn soon we drop out of this channel.
Did this on:
www.FreeStockCharts.com

 

[BooDog]

Showing the S&P with the 13 day moving average. Showing the last two bounces were and if we don't turn soon we drop out of this channel.
Did this on:
www.FreeStockCharts.com

I was thinking we could break down to around 11,700 dow and 125 S&P going into March, I couldn't see your chart from here so will look when I get home. My wild azz guess is based on the 3 year chart showing the trend line. So, like you said, if we don't see a turn here soon, thats what I was thinking.
Good luck. Swinging some back in for the risk but could be watching it vaporize.

 

[hotwings]

I'm thinking we will see 1285 before we see 1340 again. I'm holding my 20% G for another day....

 

[Bquat]

I was thinking we could break down to around 11,700 dow and 125 S&P, I couldn't see your chart from here so will look when I get home. My wild azz guess is based on the 3 year chart showing the trend line. So, like you said, if we don't see a turn here soon, thats what I was thinking.
Good luck. Swinging some back in for the risk but could be watching it vaporize.

You mean 1257 S&P here don't you? You're scarring me. Not really I'm not in the C fund right now.

I know that is a strong support area or even a last hope support but I don't think the Fed will let us fall that much and will increase Quantative Easing to try to turn us and keep us above the 200 DMA to keep the Bull definition.

 

[BooDog]

You mean 1257 S&P here don't you? You're scarring me. Not really I'm not in the C fund right now.

I know that is a strong support area or even a last hope support but I don't think the Fed will let us fall that much and will increase Quantative Easing to try to turn us and keep us above the 200 DMA to keep the Bull definition.

yes, 125.something on the SPY chart. I've been flipping in and out of the C fund - well, as much as we can anyway with the 2 trades per month! They talk about the quantatative easing so we'll see. Budget talks and our debt ceiling are playing against us right now too imo. Fundamentalists are trying to have their day.