Bquat's Account Talk

[Danny]

 

[Bquat]

Boy do I have miss charting fever.

 

[Mcqlives]

Boy do I have miss charting fever.

I , for one, do miss those charts. I had my buy in line at 1652 and wasn't able to make a move to get in until Friday for Mondays prices. I'm not complaining about Monday and Tuesday but now am sitting in I wondering if that was it. I hope not but we are in a much different channel than the last time we went for the highs.

 

[Bquat]

Which way are we going? I don't know. Long term H&S, going up after a bull flag and now a short term bull flag sideways consolidating. Yet no bullish commitment to take us above the right shoulder and were still playing with the caution line? So happy it's Friday.

 

[Bquat]

When I cleared the chart up for longer term I saw this as a possibility. But you know me the contrarian (maybe). Well last Friday chart. Look at todays charts there's something for everyone. Next week everyone should be back in school and the shopping for school supplies and vacations are done. So maybe the market will start moving again.

 

[Mcqlives]

When I cleared the chart up for longer term I saw this as a possibility. But you know me the contrarian (maybe). Well last Friday chart. Look at todays charts there's something for everyone. Next week everyone should be back in school and the shopping for school supplies and vacations are done. So maybe the market will start moving again.

As always, thanks! I think this may be a breather since we have, barely, taken out the r. shoulder. I'm not saying that the H-S is off the table, just that we are consolidating for a move...hopefully up!

 

[Bquat]

As always, thanks! I think this may be a breather since we have, barely, taken out the r. shoulder. I'm not saying that the H-S is off the table, just that we are consolidating for a move...hopefully up!

If the dip goes down to the base line and it holds, that may be a good thing.

 

[Mcqlives]

1709 may become a pivot point for a new channel. My initial sketches have a range of 1685ish to 1728ish. Let's hope this holds!

 

[Bquat]

1709 may become a pivot point for a new channel. My initial sketches have a range of 1685ish to 1728ish. Let's hope this holds!

1709 is where we fail the head test and double top.. If we break it to a new high, it will be a breakout of the inverted cup and a V bottom. This market stays always in the coin toss mode and news based. Although JTH seams to have things figured out. I'm just about done with trying to figure things out.

 

[Bquat]

I really think what we need is a friend in the Fed that can give 14 hours notice. This news driven market has tore through all my technical skills.

 

[gronk007]

Agreed...as a taxpayer i am concerned there was no taper...#externallyinfluenced

 

[Mcqlives]

I really think what we need is a friend in the Fed that can give 14 hours notice. This news driven market has tore through all my technical skills.

I am more worried because we did not break through the top of my channel (1728) with news like that. What is lurking in the background that is keeping the smart money holding back? Unemployment stats or home sales tomorrow? I am strongly considering taking my gains off the table but can't get past the idea that we could still have some more upside. Time to do some more research!

 

[Bquat]

Agreed...as a taxpayer i am concerned there was no taper...#externallyinfluenced

I think they're manipulating the market up so it can handle bad debt limit news. So it will let the false rally handle most of the dip to 1648.

 

[Bquat]

I am more worried because we did not break through the top of my channel (1728) with news like that. What is lurking in the background that is keeping the smart money holding back? Unemployment stats or home sales tomorrow? I am strongly considering taking my gains off the table but can't get past the idea that we could still have some more upside. Time to do some more research!

Yeah that's it and we're falsely to this level. We should be at 1710 heading down. But we're technically in a high base.

 

[Mcqlives]

I am more worried because we did not break through the top of my channel (1728) with news like that. What is lurking in the background that is keeping the smart money holding back? Unemployment stats or home sales tomorrow? I am strongly considering taking my gains off the table but can't get past the idea that we could still have some more upside. Time to do some more research!

May be a mistake but I am into a gains preservation mode so I took it all out if I (Elections and dollar is trending stronger) and moved 50G 25C and 25S (I am not sure which way the economic reports will flip in the morning). I just can't make up my mind to stay in or get out so I split it up that way...

Good luck all!

 

[Bquat]

I'm out of pocket but I feel a quietness happening. Don't you? May be MA pattern setting up. Need to pop soon.

 

[Bquat]

I may be out of pocket again tomorrow so I'll chart now. If we drop, I be looking at 1678 as a bounce line. This is because no tapering may make the 50 day being crossed by the 20 day a bullish thingy. I need to do something this year. What do you guys think? QE continuation 101? Charts for Friday for something that may happen next week.

 

[Mcqlives]

I may be out of pocket again tomorrow so I'll chart now. If we drop, I be looking at 1678 as a bounce line. This is because no tapering may make the 50 day being crossed by the 20 day a bullish thingy. I need to do something this year. What do you guys think? QE continuation 101? Charts for Friday for something that may happen next week.

I think "maybe"...I drew and re-drew a bunch today and with 1728 still being the top of the channel (at least how I am drawing it...I've seen some that have much higher than that) and I have the bottom somewhere in the 1685ish area. If we move down as you suggest, I believe it will be in small increments and the bottom of the channel will be trending down. Your 1678 could end up being it sometime the tail end of next week. If that is what happens, and we do get the upswing from there, there is a tight time frame for the bulls to run before all the October doom and gloom news hits. For now...so much depends on tomorrows news here and Sundays news in Germany. Good luck.

 

[Mcqlives]

I may be out of pocket again tomorrow

I hope all is well!

 

[Bquat]

I hope all is well!

I have a lot of trouble sleeping in a sleep study. They want to adjust a Cpap for me but I cannot sleep good enough with it on. Trying again tonight.