Bquat's Account Talk

[Bquat]

I got 1523 and a drop to 1476.

 

[Bquat]

Couple of fib off todays high.

 

[Bquat]

I'm still expecting a pullback, but everybody and my brother are bullish. So I am the contrary indicator calling for 1484 ish or my 20 Day. Maybe just my 13 day would be nice. Haven't touched the 20 day in over a month. The wall of worry is continuing up without me. Last year the same thing but I got into it and caught a couple of the dips going down. Maybe I'm too causious and need to enter but I didn't trust this last pop to the upside. Thinking, thinking, maybe thinking wrong? Here's a clean chart: The last time I used the bottom and paralled the top which may have been wrong. This time I used the top and paralled the bottom for the channel. You likey likey, you no likey comment.

 

[crommie]

Could your chart be forming the head of a head-n-shoulders pattern?
If so then a 1% drop to around 1500 is coming to reach the neckline.
The right shoulder would then be back up to around 1508 before the next drop to neckline at 1500 or below to your suggested target of 1485ish.
Thoughts?

 

[wavecoder]

Could your chart be forming the head of a head-n-shoulders pattern?
If so then a 1% drop to around 1500 is coming to reach the neckline.
The right shoulder would then be back up to around 1508 before the next drop to neckline at 1500 or below to your suggested target of 1485ish.
Thoughts?

if spx pulls back to 1497-1500 and bounces, that would very likely be the case. if that happens, i'd protect profits because the last shoulder of an H&S usually breaks down extremely fast (sometimes most of its major losses in the 1st-2nd day of forming the right shoulder). not saying do that, just what i'd do.

 

[Bquat]

I was just looking at the 24th of Jan. Too fast to the top of the channel it dropped back to the bottom. The last time everyone was buying in, I didn't follow and missed the gain. So this was a contrary post. I still not buying in yet because this was a big move and I already may have missed most of it. For me I just don't feel right but I've been known to be wrong most of last year. So I'm taking the odds. I really would like a correction before getting in. I hope it shows it's colors befor the deadline but what are the odds of that happening.

OK Too fast up fast down.

 

[Bquat]

Could your chart be forming the head of a head-n-shoulders pattern?
If so then a 1% drop to around 1500 is coming to reach the neckline.
The right shoulder would then be back up to around 1508 before the next drop to neckline at 1500 or below to your suggested target of 1485ish.
Thoughts?

Yes that's possible. The bottom of the channel can be the base and up to 1510ish the right shoulder. If we break the bottom of the channel we may already may have one for 1 1/2% below the line. Just dont't know if it's a head and shoulder or tripple top failed move.:worried:

 

[Bquat]

if spx pulls back to 1497-1500 and bounces, that would very likely be the case. if that happens, i'd protect profits because the last shoulder of an H&S usually breaks down extremely fast (sometimes most of its major losses in the 1st-2nd day of forming the right shoulder). not saying do that, just what i'd do.

Could we already be in one? Where my exit is a buy?

 

[Bquat]

Buy the way, the red line is a short term dip buy line that can be the short's trigger to short if broken.

 

[Bquat]

I don't know about you but it isn't much acting like it has the strenght to bounce and may be forming a bearish pullback.. So wait and see a little bit to confirm the direction as if it will happen pre-deadline.:worried:

 

[Bquat]

Site died took three minutes to make post.

 

[Bquat]

1500 just confirmed as support becoming resistance. I think no bounce.:worried:

 

[Bquat]

If this Bear flag wins look out. Could be a triple bottom breakout. The double bottom worked but like I said "I don't think we have the strength to bounce.:worried: Plus if the bear flag works I my not be the contrarian.

 

[Birchtree]

Fear is the rational buyer's friend. We have an outlook of moderate growth for the financially damaged U.S. economy. While that may sound bad on the surface it ironically provides for a long sweet spot for market participants - in essence, the so-called 'Goldilock's outlook. That is an outlook that will encourage and enable new bubbles, which are great in the short term for investors. I want my financial asset bubble.

 

[Bquat]

Still flagging, maybe Birch can save the day.:notrust:

 

[Mcqlives]

Still flagging, maybe Birch can save the day.:notrust:

Nope on BT for the day. You called this one pretty good so far. Let's see if there is a stop at 1485 or 1476. If it doesn't look good then I am out..

 

[Bquat]

Nope on BT for the day. You called this one pretty good so far. Let's see if there is a stop at 1485 or 1476. If it doesn't look good then I am out..

My buy line may be good at 1486ish. Didn't notice the last H%S. Maybe another 1% loss tomorrow. This is the first drop over 1% in a while. If we break 13 day tomorrow bulls should start selling. I am suprized the market wasn't shorted this afternoon. You guys post what you thinkey. I may try to make unbias chart tonight after further review.

 

[NiteFlyer]

It looks bad to me. I jumped over to the F fund. I'm thinking no more than two or three days of down action and then continue the rise again. But... what fund to move to for the rest of the month? Back to I if European fears in Spain and Italy ease? What would a reviving housing market affect the most; S or C?

 

[Bquat]

Upon futher review, I'm going with a buy line of 1482 or the 20 Day. The angled buy line I had wasn't quite supported whereas 1482 is where the H&S projection and 50% Fib retracement are. Any agreement? Bigger drop means higher top.

 

[Bquat]

Wow look how neatly the channel changed. I just dropped the bottom down to yesterday's action. Well I didn't see it. I guess I'm back to contrarian.:embarrest: So since I'm contraian do we make a right shoulder today? What was the news that caused so much strength all of a sudden? Will we stay 13 Day supported now?