clester's Account Talk

[weatherweenie]

What happened just before noon?

Worries about the latest threat to Europe's currency union were still weighing on markets.
Banks in Cyprus are closed until Thursday while the country considers demands from lenders to seize money from depositors' savings accounts to pay for a bailout of the country's banks and government.

 

[clester]

Seems the pullback is over. I expect us to bust through the 1565 area this week. There is nothing to complain about on the charts.

Still nothing to complain about on the charts. Very often the breakout point is often tested before the rally continues. On $emw about 797 was the breakout and we had a low of 801 today. So, we could try to test it again but we are very close to continuing the rally. But....lf we break below that we could go down to 50 dma. I don't expect that but the news is driving the market again. We have had much more volatility the last two days which makes it even harder to figure what's happening. You can't play the news cycle IMO. This is when you must have a plan and stick to it.

 

[jkenjohnson]

Still nothing to complain about on the charts. Very often the breakout point is often tested before the rally continues. On $emw about 797 was the breakout and we had a low of 801 today. So, we could try to test it again but we are very close to continuing the rally. But....lf we break below that we could go down to 50 dma. I don't expect that but the news is driving the market again. We have had much more volatility the last two days which makes it even harder to figure what's happening. You can't play the news cycle IMO. This is when you must have a plan and stick to it.

What is showing in the crystal ball today?

 

[clester]

What is showing in the crystal ball today?

I think we take out 1565 this week.

 

[Kaufmanrider]

I think we take out 1565 this week.

I am shooting for 1572-1576 range. :toung:

 

[jkenjohnson]

I am shooting for 1572-1576 range. :toung:

I got in yesterday. I hope you both are right.

 

[clester]

I got in yesterday. I hope you both are right.

i think that was great timing. Way to be patient!

 

[jkenjohnson]

i think that was great timing. Way to be patient!

Thanks, I hope so.

 

[clester]

Thanks, I hope so.

We still haven't broken out to a new high on c and s funds, although we were very close. So, the resistance there is very strong. If we fail and start down, I would start getting cautious. We are building a base still. Still have a sell point at the point where we broke out or about 797 on $emw. I am expecting the breakout to new high though.

 

[KevinD]

Just want to add my name to the list of those who read your thread.

 

[clester]

Just want to add my name to the list of those who read your thread.

Thanks for letting me know.

Obviously, we won't get to 1565 tomorrow so that prediction was wrong. I'm going to have to do some polishing on that crystal ball. I don't see any problems yet. We're having a nice consolidation which wasn't unexpected. I still expect April to July to be good. Being out of trades I can't play any dips but this would be a good place IMO with a stop loss at the 50 dma or at the breakout point. That's my sell point. Profits hurt us today. Let's hope that doesn't continue.

 

[clester]

Jim Cramer is about as good in market analysis as he is in basketball analysis. He picked Wisconsin to win it all. Bzzzzzz.

 

[clester]

Will this be the week we finally bust out to new highs? I think so. And April ?

I still think April through June or July will be good and hopefully I can stay inveested untill then. We will have a correction this summer I think and probably a pretty good one. Especially if we're up another 10 % or more. Just normal profit taking correction. They are sometimes 10% or more. Don't get too complacent. Keep an eye on the charts and have a sell point below for when it comes. Because it will. Untill then, let's make some money.....

 

[ATCHUNTman]

:toung:


FloridaGC is my pick!!

Jim Cramer is about as good in market analysis as he is in basketball analysis. He picked Wisconsin to win it all. Bzzzzzz.

 

[Scout333]

:toung:


FloridaGC is my pick!!

That's as good a WAG as any. At least the head coach has a Super Model Wife!

 

[clester]

:toung:


FloridaGC is my pick!!

They are from our (ETSU ) conference as well as mercer who plays tonite in nit. Love it when the small schools win. there really isn't as much separation as you think.

 

[clester]

I'm watching 797 on $emw(s fund) for a stop loss if we continue down. Nothing broken yet from my perspective although I don't like reversal days. It isnt at the high, at least but we failed again at s&p all time high. I am still thinking we'll get that new high.

 

[JTH]

IMHO the longer we stay confined within these levels, the greater the move will be. Predicting the direction in another story

 

[JimmyJoe]

IMHO the longer we stay confined within these levels, the greater the move will be. Predicting the direction in another story

Yes, you are correct. And it will be a big move for a long, long, time.

 

[clester]

IMHO the longer we stay confined within these levels, the greater the move will be. Predicting the direction in another story

This sideways movement is just as good as a pullback. Some would say its trouble. The rally is losing steam. Flat tops bring market drops etc.

All that could be true or it could be a high base as some others would call it. The bottom line is that we are consolidating here. Catching our breath. My crystal ball says we continue up but I have an exit plan like everyone should.

A lot of bears have come out recently. That's good. More fuel for the fire. Sentiment isn't too high yet. There are no sell signals with my system yet.