Carnac's Corner

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Looks like the OSM and dollar are struggling some this am.....4 pennies down.....The Crystal Ball says take a break and look for an entrance....
 
The_Technician said:
To stay in G and wait for any buy op.......
Click to expand...

Well that didn't take long....it didn't look like it would form up earlier....and it still might not....but sometimes you have to have faith in what you're doing....;) Ya'll wish me some luck.....100%S thru this weekend....:sick::blink:
 
The_Technician said:
Well that didn't take long....it didn't look like it would form up earlier....and it still might not....but sometimes you have to have faith in what you're doing....;) Ya'll wish me some luck.....100%S thru this weekend....:sick::blink:
Click to expand...

well sometimes it just doesn't happen as ya plan it....after getting in at mid day in which everything looked great, the S jumped about a half percent ....thus putting what looked like a good move into a precarious situation...typical of the current market daily situations......

The Crystal Balls still suggest some good action over the next several days but its all at a higher risk level....it would be a responsible move to protection within a few days until things take a better slant....

Carnac
 
I fund looks down at the moment about 4 cents. Oil is about to change direction, Iran will be soon on the run, dollar is gettting stronger with the BOJ raising interest rates.....what a mix....housing data down.....looking forward to consumer price index report....

Crystal Balls say take a break, monkeys are just laying around....nuttin to get excited about....

Carnac
 
The_Technician said:
I fund looks down at the moment about 4 cents. Oil is about to change direction, Iran will be soon on the run, dollar is gettting stronger with the BOJ raising interest rates.....what a mix....housing data down.....looking forward to consumer price index report....

Crystal Balls say take a break, monkeys are just laying around....nuttin to get excited about....

Carnac
Click to expand...


I fund just dropped to 10 cents down.....CPI inflationary....OSM's dropped, dollar jumped 13 cents.....
 
Hey, did ya see that, the market dropped that .5% during the day and then went up.....uncanny.....

I got the I up 10 pennies this morning....monkeys are raising their eyebrows......Crystal Balls are lighting up.....

Carnac
 
With so much overly bullish sentiment (as pointed out by James), does this fit the definition of an exhaustion rally, which is followed by a correction? Any opinions?

The_Technician said:
Hey, did ya see that, the market dropped that .5% during the day and then went up.....uncanny.....

I got the I up 10 pennies this morning....monkeys are raising their eyebrows......Crystal Balls are lighting up.....

Carnac
Click to expand...
 
sponsor said:
With so much overly bullish sentiment (as pointed out by James), does this fit the definition of an exhaustion rally, which is followed by a correction? Any opinions?
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Sorry Sponsor I took so long, I have been looking it over.....I believe we're in a very cautious period.....the dollar looks like it could get stronger over the next week or so, also, the OSM's look like they could take a dive at the same time, Oil is straining to hold up which is bothersome....there is really no telling of the situation on a daily basis, this kinda reminds me of early to mid March last year.......a real kick in the side overall is IRAN.....

I'm not enthusiastic, but I might take some chances knowing that a 1-2% down day may occur....if we get that, I believe we will be months before we can safely get back in and go up....
 
No iran talk when the dwcp is at 666!!! Personally I think its fear like this that at the top of the channels that will keep the bull in charge, allowing the markets to take a quick breather.

http://stockcharts.com/charts/gallery.html?$EMW

how long can the dwcp keep up this trend channel since bouncing off the 50 dma in early Jan... if you draw the upper resistance line, we've got a few more days in this mini cycle.
 
I got the I about even this morning......Crystal Balls settled down yesterday.....monkeys went back to napping.....

Guess we're gonna have to wait.....

Carnac
 
Balls were saying look at the USMkts......Friday....I wasn't watching the markets Friday

The funds have returned 19% return max/day up til Friday.....we missing something here....

Carnac
 
The Crystal Balls loving the action right now..(monkeys are going nutts)..if it will hold and tomorrow is a rebound, I expect we will see big returns...

Carnac (Playing with fire at the moment...)
 
The_Technician said:
The Crystal Balls loving the action right now..(monkeys are going nutts)..if it will hold and tomorrow is a rebound, I expect we will see big returns...

Carnac (Playing with fire at the moment...)
Click to expand...

O'China O'China O'China.....could mean no rebound....I is down 1% or so at the moment....Bagram attack at checkpoint......oil is finally taken a break....dollar should change direction if oil subsides....

Fire burns sometimes....ouch!!!:laugh:
 
The_Technician said:
O'China O'China O'China.....could mean no rebound....I is down 1% or so at the moment....Bagram attack at checkpoint......oil is finally taken a break....dollar should change direction if oil subsides....

Fire burns sometimes....ouch!!!:laugh:
Click to expand...

I'm not so sure this is a start of the big downer....if you are comparing this to May 06, remember the market was pulsating and pushing at every opp and then it finally played out......this is an abberition(sp) for a day....the market may absorb it like it has so many others....evidence of that is that the market volume seems to be just above norm.....but it remains to be seen....at days end....

Carnac
 
I tend to agree - just emotion with very little conviction. I'll hold my position as usual. No clucker fear here.
 
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