Bquat's Account Talk

[Bquat]

A line on paper won't keep Ferdinand enclosed - you need to electrify it. We could see 1700 in a matter of days with the current stampede.

1675 and that will be only 1% more I'll miss. I'm still a skeptic. I just can't follow yet but maybe, maybe not? My boat is stuck in the pond.

 

[Bquat]

Where the h___ is that whipsaw Wednesday when I need it? Isn't this options week or do I have that wrong too? Remember you guys can take profit.

 

[JTH]

Isn't this options week or do I have that wrong too?

Clearly you haven't read my blog

 

[Bquat]

My chart looking better.

 

[Bquat]

Clearly you haven't read my blog

I was trying to look bad on my own. I'll go check it now.:embarrest:

 

[Bquat]

Sorry guys I was out of pocket this morning. Went to see my nail specialist (pedicure). My ingrown toe nail hasn't bothered me for a while now. Well you guys may be thinking here we go again another ascending triangle. I'm thinking not because it's tails and not candle tops coming up to the top line. So I think down but I haven't been any good lately.

 

[Birchtree]

Power is at the cusp of its next boom cycle. When power markets tighten, prices do not notch up, they sky rocket. Get your ticket soon.

 

[Mcqlives]

...in the I tomorrow ......me getting in is just about sure to make the markets tank!

Told myself!

 

[Bquat]

Been working on my excessive charting. So chart for this morning. Little bull flag:

 

[Mcqlives]

Been working on my excessive charting. So chart for this morning. Little bull flag:

I like it! I have been talking negative to play devils advocate with myself (it seems to make the market go up) so I hesitate to say anything too positive. Your chart matches my out lines that I drew last night (1632ish and 1603ish) but I am hopeful that the floor is now 1650.

 

[Bquat]

Weekend charts:

 

[Mcqlives]

Weekend charts:

Very nice charting! You think a major triangle coming up mid week?

 

[Bquat]

Very nice charting! You think a major triangle coming up mid week?

No, I don't. What was different for today? Even though we made a new high and it looked like we were creating a bull flag, instead of going back up with the bull flag we created a low base. And why is this so surprising? Even being a little down in the futures, we had little trouble breaking this level and all of a sudden traders decide they don't want to buy at a higher price below the peak. 180 from price is the key. We are still in the upper half in the channel and I drew a possible (light grey) support channel line.Well just mentioning it even though I have capitulated on trying to call things. You guys look and think about it and make an independent decision. By the way, I drew the new lines without and post market video review to try to be unbiased.

 

[Mcqlives]

No, I don't. What was different for today? Even though we made a new high and it looked like we were creating a bull flag, instead of going back up with the bull flag we created a low base. And why is this so surprising? Even being a little down in the futures, we had little trouble breaking this level and all of a sudden traders decide they don't want to buy at a higher price below the peak. 180 from price is the key. We are still in the upper half in the channel and I drew a possible (light grey) support channel line.Well just mentioning it even though I have capitulated on trying to call things. You guys look and think about it and make an independent decision. By the way, I drew the new lines without and post market video review to try to be unbiased.

I see what you mean. I may be hallucinating but i do see a short term triangle forming around 1674-1675. todays action may hint that we will have a break down if that triangle does form.

 

[Bquat]

Very nice charting! You think a major triangle coming up mid week?

This the triangle you talking about. Another double top that may be bullish. Go figure? This is about the fifth one not causing a sell off. It is just above the support channel line I drew. I don't trust this but gave up and not trusting my calls. Well you guys call it. I'm still sidelining with trust issues. But I still provide a chart. Support lines are good until proven wrong. :notrust:

 

[Bquat]

Morning chart:

 

[Mcqlives]

This the triangle you talking about. Another double top that may be bullish. Go figure? This is about the fifth one not causing a sell off. It is just above the support channel line I drew. I don't trust this but gave up and not trusting my calls. Well you guys call it. I'm still sidelining with trust issues. But I still provide a chart. Support lines are good until proven wrong. :notrust:

Yep...that's the one. It is bullish if 1675 breaks and we hold it. 1675 then has to hold as a new floor for the bull run to continue.

 

[Bquat]

Yep...that's the one. It is bullish if 1675 breaks and we hold it. 1675 then has to hold as a new floor for the bull run to continue.

I'm kind of happy with what might happened. Increased volatility and my 1% mark worked. I think this may be the topping pattern we need. But I don't trust anything any more, any way.:notrust: You? Oh you made me chart again today.:toung:

 

[Mcqlives]

I'm kind of happy with what might happened. Increased volatility and my 1% mark worked. I think this may be the topping pattern we need. But I don't trust anything any more, any way.:notrust: You? Oh you made me chart again today.:toung:

It does fit nicely...the problem is where is the bounce? If we are getting it now your yellow line held around 1656. If the down trend continues this afternoon then I don't see the 1652 line holding up. 1652 is my current, tentative, out line. I did have 1646 till this mornings action and that may be a more solid out line still.

 

[Mcqlives]

Yep...1646 out line still intact. You have some new lines to draw, my friend!