clester's Account Talk

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jkenjohnson said:
That crystal ball is working pretty well so far. Where do you get one?
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So far so good. We could have that slow grind up again like we did in January. I think it will,be hard to play the dips because they should be short. I still think we are trending up through spring. When we do get a correction it will be steep because we have gone up so much. But for now, the trend is your friend IMO.
 
Interesting jobs report. A lot higher than expected. Futures jumping around a lot but at least they're up. You would think we have a big rally but who knows. A slow grind is better IMO. Maybe some profit taking? I dont know but we are headed to 1565 soon.
 
clester said:
Interesting jobs report. A lot higher than expected. Futures jumping around a lot but at least they're up. You would think we have a big rally but who knows. A slow grind is better IMO. Maybe some profit taking? I dont know but we are headed to 1565 soon.
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The RSI will be overbought there as well and a triple top area making it a good place to take profits for a couple days. I am out of trades to get back in so I don't know if I'll try to time that. In any case,it won't last long but could be 2-3% IMO.
 
clester said:
The RSI will be overbought there as well and a triple top area making it a good place to take profits for a couple days. I am out of trades to get back in so I don't know if I'll try to time that. In any case,it won't last long but could be 2-3% IMO.
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Good week. I'm getting nervous though. We are getting very close to overbought. I'll be looking for a break of trend to get out which may be soon or not. Just planning an exit if it becomes prudent. My plan was to be out the last week of march but I may not be able to wait. However, I will leave 50% in stocks unless we really break down. Which I don't foresee.
 
The march toward 1565-1576 will continue IMO this week. We should have at least 1 down day this week and if we reach the high at least a 2 day pullback. I think those will be hard to time though. Since I am out of trades (really I have one but I'm 100% in) any trade I make will be out for the month, so I will be careful and probably only use 1 move of 50% to get out for the rest of the month. Since any pullback should be short I may just stay in. I'll be watching closely.
 
clester said:
The march toward 1565-1576 will continue IMO this week. We should have at least 1 down day this week and if we reach the high at least a 2 day pullback. I think those will be hard to time though. Since I am out of trades (really I have one but I'm 100% in) any trade I make will be out for the month, so I will be careful and probably only use 1 move of 50% to get out for the rest of the month. Since any pullback should be short I may just stay in. I'll be watching closely.
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I plan to ride it out, and hopefully not over a cliff. I think I agree with you on pullbacks, but I also believe that overall the gains are going to be better than the pullbacks. I don't see how it can go down a whole lot, as long as the fed continues to pump the economy up.
 
bighog said:
I plan to ride it out, and hopefully not over a cliff. I think I agree with you on pullbacks, but I also believe that overall the gains are going to be better than the pullbacks. I don't see how it can go down a whole lot, as long as the fed continues to pump the economy up.
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The scary thing is the the faster we climb the faster we'll fall. At some point we will have a big drop. I'm thinking this summer but I could be wrong. It's prudent to have some sort of exit plan.
 
clester said:
The scary thing is the the faster we climb the faster we'll fall. At some point we will have a big drop. I'm thinking this summer but I could be wrong. It's prudent to have some sort of exit plan.
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I have this feeling we will have another good day and a test of the closing high 1565 very soon. Maybe today?

I gotta be honest, I'm getting nervous up here but that's why I have a system.
 
clester said:
I have this feeling we will have another good day and a test of the closing high 1565 very soon. Maybe today?

I gotta be honest, I'm getting nervous up here but that's why I have a system.
Click to expand...

It would be much better if moving to G, did not count as a move. I'd take that over asking or another transfer. I watch what you guys write and have to say I understand very little of it, unfortunately. I am the blue collar guy, trying to keep up. Perhaps ignorance is bliss, and it's better I don't understand the market more.
 
clester said:
I have this feeling we will have another good day and a test of the closing high 1565 very soon. Maybe today?

I gotta be honest, I'm getting nervous up here but that's why I have a system.
Click to expand...
Well, still inching up to the top. Seems like we'll have another quiet day. Sideways is not bad and could replace a pullback. If Washington stays out of the news.. Seems quiet there. I don't even know where we are with the budget stuff. If that pops up it could help start our pullback. Again, it will be short and shallow IMO.
 
clester said:
Well, still inching up to the top. Seems like we'll have another quiet day. Sideways is not bad and could replace a pullback. If Washington stays out of the news.. Seems quiet there. I don't even know where we are with the budget stuff. If that pops up it could help start our pullback. Again, it will be short and shallow IMO.
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I am counting on short and shallow. The day's young still. No worries.
 
bighog said:
It would be much better if moving to G, did not count as a move. I'd take that over asking or another transfer. I watch what you guys write and have to say I understand very little of it, unfortunately. I am the blue collar guy, trying to keep up. Perhaps ignorance is bliss, and it's better I don't understand the market more.
Click to expand...

I got me a mug when I was ignorant. Now I can't even get close. :rolleyes:
 
Looks to me like we're building a base here and this could replace a pull back. If so we could bust through the previous high without a pause when we reach it. There is still plenty of talk about the coming pullback and talking heads saying "take profits here". That's good for the wall of worry trade. If we do pull back I'm looking at the breakout point (1530 ish) for support. I think dip buyers will come in limiting any downside.
 
clester said:
Looks to me like we're building a base here and this could replace a pull back. If so we could bust through the previous high without a pause when we reach it. There is still plenty of talk about the coming pullback and talking heads saying "take profits here". That's good for the wall of worry trade. If we do pull back I'm looking at the breakout point (1530 ish) for support. I think dip buyers will come in limiting any downside.
Click to expand...
I'm on the lookout for sentiment getting over heated. I think that is our tell for the next pullback. Right now it seems a little high but there are still plenty of naysayers. The Dow being up 10 days in a row is a problem. I wish it had been down just a little yesterday. It will be interesting to hear the hype when the s&p hits a new high.
 
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