Bquat's Account Talk

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Changed 13 day supported channel to current channel (white) and changed short term channel to 100 day supported channel in the event we get back above the red line.;) If we cross the red line and it holds for a test the shorts will have to cover because they are using this line for a shorting trigger.
 
Here's a little tibit. If you take the amount of consolidation after each up move, I think we may be getting more bullish. The trust in this rally may be inreasing. Ok the red line has just been tested from above and now we wait for a new high for confirmation.:)
 
I know presently it is an intraday double top but it didn't go red real fast so I'm staying in at my own risk trying to save one IFT. Have to trust my flag to hold.
 
Bquat said:
I guess I will be using the tracker as a contrary indicator. Will big money follow?
TSP Talk AutoTracker
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I was on the fence all morning about getting out...but now that the deadline is passed, my decision is made for me. We could look at this morning as a double top in preparation for some profit taking. Or this could be trading action within a consolidation period. Let's hope for the latter.
 
Mcqlives said:
I was on the fence all morning about getting out...but now that the deadline is passed, my decision is made for me. We could look at this morning as a double top in preparation for some profit taking. Or this could be trading action within a consolidation period. Let's hope for the latter.
Click to expand...
I know an intraday double top is normally bearish but I have to trust the trend is your friend and we just tested major resistance as support. Also as you watch the movement after reaching the new peak there was no jump to profit taking mode. This is a silent rally the doesn't dip past 2% to trigger buy signals almost 2009 which I missed most of. We are continuing to set new highs with intraday lows. I could be wrong but Birch has mentioned about this before and where the worry begins when people start beliving it and stampeding in. Plus being paranoid, I believe our fund managers watch our moves and intraday use our funds to trade before the 4 PM EST deadline so we may pop and they'll grab the profit between 2 and 4 PM.
 
Bquat said:
I know an intraday double top is normally bearish but I have to trust the trend is your friend and we just tested major resistance as support. Also as you watch the movement after reaching the new peak there was no jump to profit taking mode. This is a silent rally the doesn't dip past 2% to trigger buy signals almost 2009 which I missed most of. We are continuing to set new highs with intraday lows. I could be wrong but Birch has mentioned about this before and where the worry begins when people start beliving it and stampeding in. Plus being paranoid, I believe our fund managers watch our moves and intraday use our funds to trade before the 4 PM EST deadline so we may pop and they'll grab the profit between 2 and 4 PM.
Click to expand...

Good points. I'm with you on the managers...especially when you look at the FV on the I.
 
Back to the tail of tails. We set an intra day double top and the tail was bought up? This should be bearish. Is there a silent QE3 happening or PPT of the other kind going into the election? I don't know but since I'm in I'm happy with it. It does make me nervious when the market continues up with no supporting news for a while. I'll try to ride it and I bet Christen at perfectstockalerts.com says it's not sustainable. I even think we may need some consolidation here.:notrust:
 
Hold the fort McQ. I must go. Life as we know it continues on. I give family update tonight.
 
Today was mostly a consolidation day which mat be good for the market. I took off the short term 100 day supported channel because we exited it to the right. We're still in a high base and it's good we got back above the blue line marking the previous peak. So this is a higher high by deffinition.. A consolidation move after this many up days is good. I think we're ok. The current channel is still bullish and we're still in the middle of it. Tomorrow I may exit.

Tomorrow we're leaving for Missouri for my step daughters surgery on Monday. They are going through her side to replace a heart valve. It has been letting blood flow back into the heart retarding blood flow to the rest of the body. I am glad it's not something they have to crack open the chest to do. Boy have they improved heart surgery. Her recovery time should be greatly reduced, we hope. So, I may or may not stay in during travel. You don't have much control of where you'll be at the cutoff time and my time will be in conforting my wife. So if you see me exit, you'll know why. Retirement some times is a blessing when a family member is in need. I may give a heads up if post market videos show something bad.
 
1% drop already. Maybe this will be enought. 100 Day is line in sand. Mentioned few days back that it would be a good bounce spot.:blink:
 
Good catch 5 day. we're 5 day supported now.That's the biggest drop we've had in a while. Was it the Plunge Protection Team? I don't know but it will be good if it establishes the higher low and starts buying programs up.:notrust:
 
It's showing now that the original channel held. Where did that tail go. This looks like a bottoming tail and hopefully not a dead cat bounce. I like how that 1% line works.
 
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