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Bquat's Account Talk
- Thread starter Bquat
- Start date
- Reaction score
- 743
I wonder if I should keep posting? I dropped below 70 on the tracker.
At least your in the top 100. Yesterday I was 498 and if the numbers stay negative today I will more than likely drop back into the 500's. My best was 22 in early January and it has been downhill ever since. Hang in there you have a good year going.
Bquat
TSP Talk Royalty
- Reaction score
- 603
I still se us staying in the blue channel until the red line. Between 1250 and 1218 so far.
Bquat
TSP Talk Royalty
- Reaction score
- 603
I see what your talking about. It building a triangle with even highs and higher lows. I pick down. Flip the coin, If it was desending triangle I would pick up. 50/50
Bquat
TSP Talk Royalty
- Reaction score
- 603
Down it was.
Bquat
TSP Talk Royalty
- Reaction score
- 603
We're on good support right now, but with the increase of the slope down at the end of the day, I think we might go down to 1203ish.
With good news this level can hold and go back up to 1255. I think it would have to be very good news.
We can go and bounce off the bottom of the channel and start back up.
Thursday or Friday we could retest the red line that is from July's highs which is strong resistance and also the neckline of the head and shoulder tests. I guess with this down day I may end up good being in the pond.
Here's three charts to help you take an educated guess. We're coming up to major resistance.
Feel free to comment. Your info can always help someone sometime in their decisions.
With good news this level can hold and go back up to 1255. I think it would have to be very good news.
We can go and bounce off the bottom of the channel and start back up.
Thursday or Friday we could retest the red line that is from July's highs which is strong resistance and also the neckline of the head and shoulder tests. I guess with this down day I may end up good being in the pond.
Here's three charts to help you take an educated guess.
We're coming up to major resistance.Feel free to comment. Your info can always help someone sometime in their decisions.
Bquat
TSP Talk Royalty
- Reaction score
- 603
Looking at the old channel chart, we have tested the bottom of it and can resume this channel as if we didn't leave it. So we can go to the top of it before going down more. Since we are below the 200, do you think big money will continue to sell the peaks or are we back to buying the dips. We should see soon. With further delay of fixing Europe financial problems, people may think this a false rally. I may be lucky not having an IFT at this time in the market. Since we are approaching the 200 and big resistance, I may have to remind myself not to enter until it's broken and confirmed. Remember Bill remember "Capitol Preservation" is the key. This have kept me from loss. Something to ponder on the pond.
Mcqlives
Market Veteran
- Reaction score
- 24
I'm right there with you...except I have a move. I see your points and think you may be right on the upper range but just can't see if for sure. Especially since the EU just blew more smoke with their 9% tier one requirement. What used to make up the majority of tier one is now junk bonds to these financial institutions...it is a very dangerous game the governments of europe are playing with their financial institutions...almost as bad as putting it all on black and saying "spin that wheel!".
RealMoneyIssues
TSP Legend
- Reaction score
- 101
They have until the end of the quarter to produce those results. There will have to be more than just hedge fund buying to cause the S&P to go that high tomorrow...
Mcqlives
Market Veteran
- Reaction score
- 24
I hope Birch is right but I still see a very similar channel as yesterday. Look at todays news that moved the markets. The major ones all focused on the EU debt ratios. Even with the EU banks getting ordered to go to 9% tier one (9x their prior commitments in many cases) the market did not see it as a securer of debt. Frankly, I don't see how the banks of Europe can do it by the June deadline. At least I don't think they can without shedding somewhat toxic assets at high value to increase their capital in tier one rated assets. Hmmm...doesn't that remind you of something...maybe along the same lines as our mortgage backed securities?
All that being said, maybe China will buy the EU's financial institutions debts off, sell the "backed" debts to US investors as "AAA" rated securities and then watch us lose trillions when the books are finally cleared in a few years and the true values of the "backing" come out. Wouldn't that be ironic?
Wow...I just read what I typed and realized it sounded like Glen Beck. Maybe the Sam Adams Octoberfest is a little stronger this year than normal!!!
All that being said, maybe China will buy the EU's financial institutions debts off, sell the "backed" debts to US investors as "AAA" rated securities and then watch us lose trillions when the books are finally cleared in a few years and the true values of the "backing" come out. Wouldn't that be ironic?
Wow...I just read what I typed and realized it sounded like Glen Beck. Maybe the Sam Adams Octoberfest is a little stronger this year than normal!!!
Birchtree
TSP Talk Royalty
- Reaction score
- 143
Mcqlives
Market Veteran
- Reaction score
- 24
Very nice link Birch...and I swear I did not read this article before my recent ramblings on this thread! The Surly Trader and I must both just like roulette.
Bquat
TSP Talk Royalty
- Reaction score
- 603
I know your the permabull, but it didn't even get to the top of my channel and had to retest 1140 a few times. There is no major push here. The wait is too much on Europe. The meeting was announced just to hold there stuff up in the short term and the positive leaks are to do the same to try to make financial support palatable. The chance of it happening is in the market already 60%. Any messup will hit hard. I think big money will wait for it to happen or the breaking of the 200 and then they'll have to jump in as a last ditch effort for yearly gains. I'm just playing little bear to offset the big bull. I've been wrong before.
