Bquat's Account Talk

[Bquat]

Do you see what I see. (again) Step completed and little bull flag. More than a 50% chance to gap up tomorrow. Any contrarians?

 

[Birchtree]

The earnings on CSCO say up we go - good forward guidance from Chambers.

 

[jkenjohnson]

The earnings on CSCO say up we go - good forward guidance from Chambers.

I hope you are right. Get on board the money train.

 

[Bquat]

I hope you are right. Get on board the money train.

Looks like I'm wrong but we're still trying.

 

[Mcqlives]

Looks like I'm wrong but we're still trying.

we may now be representative of "dumb money".

 

[Bquat]

The bottom of the inner channel has been tested and we're still holding. A touch of the 5 day could be good too. At least we didn't completely break down after failing to break resistance. There is some hope left. Little over 1/2 hr to decide.

 

[Bquat]

I will remain at 60S 40G because the inner channel is still good and rising 5 day which might give us strength soon.

 

[Mcqlives]

Yeah! Maybe we get to remain "smart money" people!

 

[Bquat]

Yeah! Maybe we get to remain "smart money" people!

I hope so the pump is still there even with the first test of resistance failing.

 

[Birchtree]

More QE being pumped into the global economy - hold the thin blue line.

 

[Bquat]

Should we try again tomorrow? Still staying in the channel and high based.

 

[Sensei]

Should we try again tomorrow? Still staying in the channel and high based.

I like the little bull flag you've highlighted, but what catches my eye in this chart is that the whole thing looks like a bear flag, with the pole being that gap up on 2/3. I think we might need to fill that before moving up again. But is it worth jumping out and possibly missing the bounce? It could all happen very fast - maybe even intraday.

 

[WorkFE]

Sensei and Bquat
If it is a bear flag would the high 1320's be good support?
I ask because I'm no good at reading these charts.

 

[Sensei]

Sensei and Bquat
If it is a bear flag would the high 1320's be good support?
I ask because I'm no good at reading these charts.

1320 is about where the 20 day SMA is, so it might be support. But the last time the S&P tested the 20 day, it was intraday and closed 15 points above it. So you might not actually get 1320 as an entry.

 

[Bquat]

Sensei and Bquat
If it is a bear flag would the high 1320's be good support?
I ask because I'm no good at reading these charts.

I think the bottom of the channel at 1335ish would be a good support. The 13 day at 1327 will be an excellent support line. Then the 20 day at the first Fib retracement level at 1318.
Quik Chart:

 

[Bquat]

Lines a little better here. Took a little more time.

 

[WorkFE]

Thanks. Not looking for an entry, but an exit.
I can handle 1327 but pull back to the upper 12's is a no-no.

 

[Bquat]

Thanks. Not looking for an entry, but an exit.
I can handle 1327 but pull back to the upper 12's is a no-no.

See that purple line at the bottom of the chart. That's the bottom line from the last two corrections. 1294ish.

 

[Bquat]

Got to go mom time.

 

[JamesE]

Can it be that easy? Is this market going to do just what everybody expects (short consolidation and resume uptrend) ?? I think the market manipulators want a whole lot more people on board before they jerk the rug. To me its greece again.