Fingers crossed. Fridays close was disappointing.
Oil is the killer. Price of oil goes up, stocks fall. Oil goes down, stocks fall. What gives????? To me it looks like the system is rigged.
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clester's Account Talk
- Thread starter clester
- Start date
Fingers crossed. Fridays close was disappointing.
Oil is the killer. Price of oil goes up, stocks fall. Oil goes down, stocks fall. What gives????? To me it looks like the system is rigged.
jkenjohnson
Active member
I think it is rigged also. Just not sure how it is done - high speed computer trading?
Mcqlives
Active member
That and the computer models pricing in guesses as to what will happen a week or 2 out. The most recent example of this is last weeks gains on, partially, the rumors of QE in the EU.
pmaloney
Member
I think the low oil is causing a great deal of uncertainty as we go into earnings. Low oil prices provides a great opportunity to buy great oil companies at low prices and will generally be good for our economy. Hopefully the earnings will be good. Also, this and Friday may be a breakdown in the V bounce before it goes up. Hoping good earnings inspire confidence and people start buying. 
clester
Well-known member
I can't tell you how many times I got hit the same way. Many years of frustrating trades. That's why I have developed my system to always be in stocks AT LEAST 50% during bull markets and AT MOST 50% in bear markets. That way if I guess wrong I can minimize those feelings of frustration. Everyone guesses wrong sometimes so don't let it get to you. Stay unemotional!
WorkFE
Well-known member
rothnroll
Member
I moved 100% F.. which also looks like it is up today. No biggie. I am in this for the long haul. It's probably better if I just quit reading financial website all together and just look at stuff here!
clester
Well-known member
I'm getting this feeling that we will have a reversal today and end up in the green. The F fund will be over 70 RSI which is overbought and should have a pull back which usually translates into stocks going up. We are at a critical level this morning about S&P 2000 which is a good spot to reverse. Plus it's just my gut feeling. I will follow my system though if we make a new lower low.
clester
Well-known member
We had a lower low intraday and we've been under the 50 dma 3 days now. So, my system has a 50% sell signal.
F fund is overbought per RSI and S fund is less volatile than C fund which is strange. So, things are a little odd right now. There should be a bounce. S&P 2000 seems to be a support area but it will break if it keeps getting tested.
So, unless something changes by noon I'll be selling 50%.
F fund is overbought per RSI and S fund is less volatile than C fund which is strange. So, things are a little odd right now. There should be a bounce. S&P 2000 seems to be a support area but it will break if it keeps getting tested.
So, unless something changes by noon I'll be selling 50%.
rothnroll
Member
so 50%c and 50% s? Am I correct in that assumption?
clester
Well-known member
I'm in a quandary. My system says sell 50% but I see many signs of a turn around very soon. Tha F fund is way overbought with RSI at 75 and I fund is looking better although it's still in a bear market. It has made a bottom it looks like. The S fund seems to be acting better than the C fund. The S&P 2000 level is very good support it seems too. I'm thinking of holding on until we close below 2000 to see if there is a bounce coming. I feel drawn to the I fund for some reason. I know the euro is a headwind but it's down so much and seems to have found a bottom. It's in a bear market which means I'll put no more than 50% there.
What to do?? It's not clear
Valkyrie
Well-known member
we have that open gap in the S&P, I believe its going to be filled now.
I'll be going to the F and G funds.
www.growthstockwire.com
"The S&P 500 needs to recover and take back
at least half of yesterday's loss or it runs the risk of making a decisive
break below the 2,008 support level. That's where the blue support line of the
wedge and the red support line connecting the September highs come together. A
close below that level will likely lead to more selling pressure and at least a
test of the December low at 1,972. The index could even decline toward the
October low at 1,875.
You see, as I told you in October, typical market corrections unfold in either three or five distinct legs <http://click.growthstockwire.com/t/AQ/2Zs/7uI/N_c/AAK67A/AAWcFA/AQ/XWrT> .
The first move shakes up folks, gets the bears all loaded up with short positions, and shifts sentiment rapidly from bullish to bearish. That was the decline we saw in early October.
The next leg is an oversold bounce. This move forces short sells to cover – often at a loss, especially if they got too aggressive and sold short into oversold conditions. The bulls scramble back in, and sentiment shifts rapidly back to bullish. That's what we saw in late October.
The third leg of a correction is a move back down to retest the lows of the first leg. But the S&P 500 never retested its October low. That's still hanging over the market's head. And that's why bulls need the market to hold above the 2,008 support level. If it can't do that, things could get ugly real fast."
I'll be going to the F and G funds.
www.growthstockwire.com
"The S&P 500 needs to recover and take back
at least half of yesterday's loss or it runs the risk of making a decisive
break below the 2,008 support level. That's where the blue support line of the
wedge and the red support line connecting the September highs come together. A
close below that level will likely lead to more selling pressure and at least a
test of the December low at 1,972. The index could even decline toward the
October low at 1,875.
You see, as I told you in October, typical market corrections unfold in either three or five distinct legs <http://click.growthstockwire.com/t/AQ/2Zs/7uI/N_c/AAK67A/AAWcFA/AQ/XWrT> .
The first move shakes up folks, gets the bears all loaded up with short positions, and shifts sentiment rapidly from bullish to bearish. That was the decline we saw in early October.
The next leg is an oversold bounce. This move forces short sells to cover – often at a loss, especially if they got too aggressive and sold short into oversold conditions. The bulls scramble back in, and sentiment shifts rapidly back to bullish. That's what we saw in late October.
The third leg of a correction is a move back down to retest the lows of the first leg. But the S&P 500 never retested its October low. That's still hanging over the market's head. And that's why bulls need the market to hold above the 2,008 support level. If it can't do that, things could get ugly real fast."
jkenjohnson
Active member
We're waiting on you to tell US what to do.
clester
Well-known member
Staying put but I'm itching to buy some I find. Maybe next week after the ECB decision
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