Bquat's Account Talk

Sort by newest Sort by date
Bquat said:
The current consolidation channel for the last couple of weeks is between 1332 and 1302. My resistance and support levels for 2011 are:

1557 October 2007 peak
1425 May 2008 lower high before all hell broke loose.
1385
1343 2011 peak in Feb, strong resistance Extreme chance of double top:(
1332 Top of channel, (2 week) double top chance strong resistance.
1327 resistance
1322 Current S&P level
1318 support
1309 support
1302 Bottom of Channel, (2 week) double bottom chance strong resistance.
1297 support
1282 strong support
1275 suport
1270 support
1257 last chance support before major correction
Click to expand...

Bump keep a eye on it today.:confused:
 
Mcqlives said:
And 1312 is getting poked at again with 1/2 hour left. Trend is down but, if the 1312 can hold Monday should be a better day. If it breaks I hope the 1297ish can hold. If it doesn't I am out for a long long time.
Click to expand...

For now I'm sticking with this idea (1297ish) and hope we will see a nice climb this afternoon. Also, I doubt that the oil going down will influence the markets much (think portion of GDP). It will take a drop of the price at the pumps for the market to really respond positively (think consumer spending vs. inflation/interest rates).
 
Looks like a low base was formed at 1295. I'm not calling it a high base forming below 1297 because we settled to 1295 not rose up to below 1297. No bounce back up after hitting 1297 either.Bearish.:(

POMO and QE2 will both have to jump in and save this market and draw the line at 1280-82ish. Obama may have to say " I am going to open up the oil reserve", or " I going to enforce the no fly zone ( he may be too late to help now) over Libya" even if he doesn't. He has to nip the oil speculation (no real shortage yet) in the bud before this markey goes totally bearish.:(

Little rant: Watch the news he maybe has to act. Unlike Roosevelt who spoke softly and carried a big stick, Obama speaks loudly and is slow to act. Rant over.

Something will need to be anounced even if its just words.
 
I've been waiting since Friday night for the no fly zone and thought he would do that when he got resistance to accessing the strategic oil as a manipulation of oil costs. Still waiting for him to do something but I think, even if he does at this point (which I doubt because he did not even respond to Muslims asking him to create a no fly zone in numerous public forums) it will be too little too late. I'll look at tomorrow mornings news but I am expecting nothing that will move the market higher.

My rant is not considered acceptable in this venue but would absolutely reference BO's public statements today concerning bullying. It would then begin to ask what the &^%*&% *(&^ *&$@@$ ))&^&^ $%$( )(&)(*_) he thinks is happening in Libya?
 
Bquat said:
.
Little rant: Watch the news he maybe has to act. Unlike Roosevelt who spoke softly and carried a big stick, Obama speaks loudly and is slow to act. Rant over.
Click to expand...

Bquat,

We may have to start calling you Mr. Obvious :D
 
Ok settling onto 1295 and building a low base is bearish.:(

Is the drop from 1343 to 1295 enought of a correction for the S&P for the bulls to start the buying the dip?:confused:

Well if the bulls can have a good showing tomorrow and get to 1309 we can hope to resume the bullish trend. If we don't break 1303 with a drift up to 1309ish we pretty much miss our best shot and continue down.

I am bearish still until a 1.5 % bounce off of 1282 or going up to 1307-09ish from here.
 
Well low base continuing to build, with some hesitation ringing between buying and selling. A lot of people are jumping in early expecting a buy the dip to begin. Too many still seeing if a trend change is confirmed with lower high and lower low already made.

Bad news about Japan, wish them well. Might get Libya out of the news a little and let oil speculation drop. Might be bullish a little.:confused:

I think this market might be hurt enought for consolidation today and maybe another red Monday.:(
 
Bquat said:
Ok settling onto 1295 and building a low base is bearish.:(

Is the drop from 1343 to 1295 enought of a correction for the S&P for the bulls to start the buying the dip?:confused:

Well if the bulls can have a good showing tomorrow and get to 1309 we can hope to resume the bullish trend. If we don't break 1303 with a drift up to 1309ish we pretty much miss our best shot and continue down.

I am bearish still until a 1.5 % bounce off of 1282 or going up to 1307-09ish from here.
Click to expand...

Today's action is looking better. Buy up to resistance and build high base. Now if we can break the 1302-03 area and hold above it there's a chance. If we don't it could be just the dip being bought because buying the dip has been the pattern. We need bullish support now! or this may be a dead cat bounce.:confused:
 
Bquat said:
There it is. There's the move and now build the high base into the close.:D
Click to expand...
But is it high enough? I think/hope this is a lead in to a run back up to 1357ish but I may be wrong. After that, unless there is some great news, I don't see a sustained rally. If there is, we could break 1400 pretty quick! Let's all hope (especially since I am still in the S and need to get some back)! Have a great weekend.
 
Mcqlives said:
But is it high enough? I think/hope this is a lead in to a run back up to 1357ish but I may be wrong. After that, unless there is some great news, I don't see a sustained rally. If there is, we could break 1400 pretty quick! Let's all hope (especially since I am still in the S and need to get some back)! Have a great weekend.
Click to expand...

I don't think its high enought.:(

At the end of day the S&P stopped at the bottom of the previous channel (acting as resistance) and droped back down slightly. We did recover the 50 day moving average but didn't re-enter the bullish channel. The 50 dma may act as support and we may hold.

The weekly's are negative and not making at least 1.5% gain today after the bounce I'm bearish.:(

Oh did you catch Oscar's video? Just after previously comming out with his 11 day theory, where we should return to the bull trend on Wednessday and we droped, he comes our showing all these bearish flags and talks about fundimentals. He sure recovers fast.

Hope I'm wrong and the 50 dma gives us strength, but I think we're already in a bearish trend.
 
Bquat said:
Ok let,s take that luck and see if 1282 holds.;)
Click to expand...

1286 was a pretty solid bounce line. Hopefully that is the bottom for now. Again, I think the market is in for a correction before a further bull run but I don't think this is it. I just can't see the technicals (other than last Friday's 30DMA) to support a bear. I think this is all a news driven sell off and the climb back will be quick! At least that's what I hope!

And, at risk of sounding like BT (except missing a 0) I hope to make $100,000 this year!
 
Futures look terrible!:(

http://www.bloomberg.com/markets/stocks/futures/

Hope the market thinks S&P 1257 is low enought for the correction. Below that I'm a scared-D-Cat. Let's do that crossy finger thingy.:worried:

Sorry been away all day and thought we did ok today but just checked futures.
 
Last edited:
Originally Posted by Bquat
The current consolidation channel for the last couple of weeks is between 1332 and 1302. My resistance and support levels for 2011 are:

1557 October 2007 peak
1425 May 2008 lower high before all hell broke loose.
1385
1343 2011 peak in Feb, strong resistance Extreme chance of double top:(
1332 Top of channel, (2 week) double top chance strong resistance.
1327 resistance
1322 Current S&P level
1318 support
1309 support
1302 Bottom of Channel, (2 week) double bottom chance strong resistance.
1297 support
1282 strong support
1275 suport
1270 support
1257 last chance support before major correction

Well glad the 1257 area held, my chart doesn't go lower. Hate to have to make a new one. Hope today will be a bottom and not a dead cat bounce.:confused:
Thanks for visiting KevinD:)
 
You must log in or register to reply here.

Similar threads

tsptalk
September 2025 AutoTracker Winners!
Replies
2
Views
432
nasa1974
nasa1974
RevShark
  • Article Article
RevShark's Traditional Thanksgiving Post 2024
Replies
2
Views
758
nasa1974
nasa1974
UNIX84
UNIX84 Account Talk
Replies
15
Views
3K
UNIX84
UNIX84
JTH
Speculation: When Border Security Becomes Domestic Power
Replies
1
Views
202
tsptalk
tsptalk
tsptalk
  • Article Article
When traders become buy and holders
Replies
1
Views
441
JTH
JTH
Back
Top