Bquat's Account Talk

[Birchtree]

The Dow is only 100 points away from the next launch of this rally. A current and careful review of the historical data suggests that the bull market would still have a long way to go if and when the Dow reaches a new all-time high. Or is a new nominal high for the Dow simply the continuation of one of the most powerful bull markets in history.

 

[Frixxxx]

Perhaps another 5% consolidation sometime in October - getting set up for the Christmas rally.

September would be the month for consolidation.

The Dow is only 100 points away from the next launch of this rally. A current and careful review of the historical data suggests that the bull market would still have a long way to go if and when the Dow reaches a new all-time high. Or is a new nominal high for the Dow simply the continuation of one of the most powerful bull markets in history.

Please oh please oh please!

 

[Mcqlives]

I hope only that much.

We may know direction this last 40 minutes...1654.10 was a good enough hit in my book. If I had known we were going to get there this afternoon I would have really considered going to G this morning.

 

[Bquat]

What still bearish after being wrong again. Yes this is still a low volume drift up into a rising wedge. I still feel as there's a big drop coming and the caution circle at the 50 day might not be it. This was a high base forming but we dropped below the wedge. So contrary I am and contrary I stay.

 

[ravensfan]

What still bearish after being wrong again. Yes this is still a low volume drift up into a rising wedge. I still feel as there's a big drop coming and the caution circle at the 50 day might not be it. This was a high base forming but we dropped below the wedge. So contrary I am and contrary I stay.

I'm with you Bquat. Been sitting in G since June 28th, waiting to buy the dip. Uncle Ben will speak tomorrow (4:05 pm, go figure) and the last 3 times he spoke, the markets went down. We'll find out Thursday if that trend holds and then it will be time to get back in.

 

[Birchtree]

Uncle Ben will explain that there most likely will not be any tapering until December, if then. But it's still best to watch what they do and ignore what they say - be safe.

 

[Bquat]

Getting nervous about being wrong again. We're not dropping out of this high base like I expected.:blink:

 

[maverick06]

I have decided that I like to get out before he talks.... i havent actually done it, but have had many regrets about staying in when he talks.

Not sure how I will play this one... seems silly to burn both trades to get out and back in just to avoid him talking........

 

[Bquat]

Market seems to be waiting for the Fed. announcement.

 

[Bquat]

I'm still trying to show weakness but the market want's to fight.:toung:

 

[Mcqlives]

I'm still trying to show weakness but the market want's to fight.:toung:

We might be back in a broad trading range (1628ish-1670's) for a while.

 

[Bquat]

We might be back in a broad trading range (1628ish-1670's) for a while.

I think the computer programs are creating a sine wave while they wait for user input for direction. We should test the upper line again as the sine wave does the up cycle again. Best I can hope for is flat top may bring big drop.

 

[Bquat]

There's the pop before the drop.:notrust:

 

[RealMoneyIssues]

There's the pop before the drop.:notrust:

 

[Frixxxx]

There's the pop before the drop.:notrust:

LOL, I was soo hoping to push through the resistance today before the Fed meeting...Oh well, guess you were right! I wonder who just made a million on shorting that manuever!.

 

[Bquat]

LOL, I was soo hoping to push through the resistance today before the Fed meeting...Oh well, guess you were right! I wonder who just made a million on shorting that manuever!.

I hope they get caught with that short. I can't beat the Fed. Weak economy = good Fed. news = more free money. My crash fear my be delayed. So chart by fliptheBiaschart.com. This is for you 40 night watchers. Futures up on Fed. news.

 

[Bquat]

Where to now?

 

[Mcqlives]

Where to now?

Here is my 2cents based on the symmetry...1628 to 1687 has 1657 as a mid point. That was yesterdays high. How that we took that out we are poised to re-test or even break 1687 (less than 1% away now). From there we would have to have a significant break-out (thinking 1702) to keep the bulls running. We are getting back into serious overbought territory but with Ben saying QE is continuing this should not make much difference until we hit new highs.

 

[Birchtree]

Uncharted territory and the cool breeze at this altitude certainly is welcome - higher highs on the horizon no doubt. Breaking a 13 year trend line means more gains ahead.

 

[Bquat]

Uncharted territory and the cool breeze at this altitude certainly is welcome - higher highs on the horizon no doubt. Breaking a 13 year trend line means more gains ahead.

Here's the 5 year BirchChart: