clester's Account Talk

[clester]

We are destined to test the recent high on the s&P. The question will be how we react there. If we bust through we will test the all time high and test again. If that breaks through the good spring I think is coming will happen. We will need a correction and sometime this summer will probably be it. I think we have a good run until then.

 

[RealMoneyIssues]

The budget battle should happen over the budget. Like the sequester or shutting down the government by not passing a continuing resolution. The debt ceiling is about paying for what we already bought. Paying on our credit card.

No, the debt ceiling is about more debt. The debt ceiling can force a balanced budget since we won't be able to acquire more debt. We have enough revenue to pay the interest on our current debt.

 

[clester]

No, the debt ceiling is about more debt. The debt ceiling can force a balanced budget since we won't be able to acquire more debt. We have enough revenue to pay the interest on our current debt.

Ok, then it's about paying for stuff we agreed to buy and signed a contract for. Leverage, yes it could be used for that but it's not the right way to do it.

 

[clester]

Ok, then it's about paying for stuff we agreed to buy and signed a contract for. Leverage, yes it could be used for that but it's not the right way to do it.

In any case, I don't want to discuss politics. I don't use it in my system. It's just noise. I am disgusted with politicians.

 

[Birchtree]

The nub in the White House wants to bankrupt the country - we should take his pension so he'll have to work to survive.

 

[Bquat]

We are destined to test the recent high on the s&P. The question will be how we react there. If we bust through we will test the all time high and test again. If that breaks through the good spring I think is coming will happen. We will need a correction and sometime this summer will probably be it. I think we have a good run until then.

I like it better when you talk about the market because you're pretty good at it. Both of you.

 

[clester]

We have broken out on S&P and I wouldn't be surprised if we test it as support soon but we are on the way to the all time high. The S fund hasn't quite gotten there yet. This time there are a lot more naysayers. Last time the talking heads were really bullish telling us to buy, buy, buy. This time there is more caution which means we can continue up. (contrarian view)

 

[clester]

We have broken out on S&P and I wouldn't be surprised if we test it as support soon but we are on the way to the all time high. The S fund hasn't quite gotten there yet. This time there are a lot more naysayers. Last time the talking heads were really bullish telling us to buy, buy, buy. This time there is more caution which means we can continue up. (contrarian view)

Just looking at long term chart of S fund and realized it has broken above the triple top and has no resistance now. The C fund should follow.

 

[clester]

I want to repeat what i said earlier. While there has been a little cheerleading today, there are plenty of cautious folks out there saying take profits or something like that. The last time we hit a high everyone was bullish. They told us to buy, buy, buy. That was a sell signal.

But today, it's totally different. That doesn't mean we won't correct from here but odds now favor higher prices and sentiment is not overly high. I hope the worry warts stay out there.

RSI's are climbing but below 70. The s&P all time high is like a magnet pulling us up. We will see what happens when we get there. 1565 I think it is. We may back off a little and then bust through. S fund is in clear air. No resistance because it broke out to all time high.

 

[RealMoneyIssues]

SPX all time high is 1576.09 on TOS.

 

[JimmyJoe]

SPX all time high is 1576.09 on TOS.

I'm corrected. Now I know the market will continue churning upward. The 1576 level must be attained. It our duo destiny. Mine and its.

 

[Kaufmanrider]

SPX all time high is 1576.09 on TOS.

Is that adjusted for inflation? I heard taking inflation into account we have a tad to go to really get
to the all time high.

I'm in for the ride, or at least half in.

 

[RealMoneyIssues]

Is that adjusted for inflation? I heard taking inflation into account we have a tad to go to really get
to the all time high.

I'm in for the ride, or at least half in.

Dunno, and don't know that it matters. All-time high is all-time high. What it is relative to economic conditions is probably irrelevant.

 

[Kaufmanrider]

Dunno, and don't know that it matters. All-time high is all-time high. What it is relative to economic conditions is probably irrelevant.

My point is we have room to go to a real all time high. I am feeling a little Birchy. I might go all in.

"After adjusting for inflation, the Dow was higher in 2000 than it is today. It was also higher in 2007. It would need to rise another 10 percent or so to hit an all time high in real (i.e., inflation-adjusted) terms."
The Dow Isn't Really At A Record High (And It Wouldn't Matter If It Were) | WBUR & NPR

 

[clester]

I'm expecting s&p to get to the all time high 1565 according to my research. Maybe intra day was higher. Anyway I expect a pause there and maybe a pullback. That's 25 points from here or less than 2%. I will probably look to book some profits there. 50% to G. It could happen this week. I'm out of trades to get back in once I start taking profits.

I would love to see a pullback there to set up another run. I wouldn't be surprised if we test the breakout we just had.

 

[bighog]

I'm expecting s&p to get to the all time high 1565 according to my research. Maybe intra day was higher. Anyway I expect a pause there and maybe a pullback. That's 25 points from here or less than 2%. I will probably look to book some profits there. 50% to G. It could happen this week. I'm out of trades to get back in once I start taking profits.

I would love to see a pullback there to set up another run. I wouldn't be surprised if we test the breakout we just had.

I plan to ride it out. I expect to see it pull back a bit and then surge back up. As long as we have QE...

 

[clester]

I don't think its time yet but if we test 1530 (where we broke out) and hold we will be in good shape. I think it is more likely to happen after we hit 1565.

 

[clester]

I don't think its time yet but if we test 1530 (where we broke out) and hold we will be in good shape. I think it is more likely to happen after we hit 1565.

I'm encouraged by the number of folks calling a top or are skeptical of the rally. The "wall of worry" trade is alive. I say at least 50-50 of the talking heads calling for up-down market. That's good. Plenty of cash that will buy in soon. Sentiment is in my favor

. The charts are bullish and not overbought (except we are near top of bollinger band). I still say we are headed to the all time high on S&P and then we will have to see what happens. S fund is just above the last high. A good place to pause and then continue up with a possible back test of that breakout.

 

[JTH]

I'm encouraged by the number of folks calling a top or are skeptical of the rally. The "wall of worry" trade is alive. I say at least 50-50 of the talking heads calling for up-down market. That's good. Plenty of cash that will buy in soon. Sentiment is in my favor

. The charts are bullish and not overbought (except we are near top of bollinger band). I still say we are headed to the all time high on S&P and then we will have to see what happens. S fund is just above the last high. A good place to pause and then continue up with a possible back test of that breakout.

Just for the record, I don't disagree with you, I myself am looking to get back in but hopefully at a lower price. If folks only knew I really have no idea where these markets will go...

 

[clester]

Just for the record, I don't disagree with you, I myself am looking to get back in but hopefully at a lower price. If folks only knew I really have no idea where these markets will go...

Haha. You seem to be doing better than most.

Nobody knows where we will go. That's why I consult my crystal ball.