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clester's Account Talk
- Thread starter clester
- Start date
clester
Well-known member
Yep. It could easily turn around. I expected more bounce and maybe we'll get it. Dip buyers may come in. Or is it a repeat of last April? I remember getting nervous back in november and the bears were out. We sold off pretty good. But when it was not expected it started rallying again. It seems pretty bearish out there to me. Very few bulls saying buy the dip. So, maybe that means we will get our bounce. Just watchIng it closely.You know how futures can be. Maybe the rumor being sold will be followed by the news being bought.
clester
Well-known member
Today is shaping up to be very interesting. How the market reacts...big dip to buy, if you were inclined to buy. Or will it be one of those down all day days and a beginning of the "spring swoon" as they're calling it.
clester
Well-known member
Just in case anyone cares, a s&p move over 20 points is an automatic sell in my system. Looks like it will kick in today
clester
Well-known member
Just in case anyone cares, a s&p move over 20 points is an automatic sell in my system. Looks like it will kick in today
Boy, the mood is somber. Even Cramer is down and looks like he could cry. I use him as a contrarian a lot and if so we could bounce. Plus, we know now for sure the Fed isn't slowing. I actually am positive on the economy and the markets.
jkenjohnson
Active member
R u bailing? I did already. Thinking about getting back in soon though.
clester
Well-known member
Looks like I'll stay in for now. Looks like the market is coming back a little but I'm on the daily watch.
Kaufmanrider
Member
I am with you, riding the waves up, I hope.
Looks like a big move on the IFT's for today (must be premium members). Hopefully they are all getting in and not out
.
jkenjohnson
Active member
I decided to get back in today. 100% S COB.
clester
Well-known member
Good luck to us!
MrBowl
Well-known member
That 4 hr time lag really bit you. I hate that. It's too bad that it won't execute when you hit enter on the TSP site. With all of the HFT these days it could easily be done.
Anyway, I hope you gain so much that it doesn't matter at all.
clester
Well-known member
Alright. New week. Let's get started.
We have been in a basing pattern for a month. Some big swings here and there but really no movement. So, the question is whether we break up or down. If, we can get through the 1576 intra day high then I think we have another big up leg else we will be in the "spring swoon".
The small caps have started outperforming again which is great because they are the leaders. I have a good feeling about this month and I'm not expecting a repeat of last spring. But keep your stops in mind in case we break down. Watching the 50dma.
We have been in a basing pattern for a month. Some big swings here and there but really no movement. So, the question is whether we break up or down. If, we can get through the 1576 intra day high then I think we have another big up leg else we will be in the "spring swoon".
The small caps have started outperforming again which is great because they are the leaders. I have a good feeling about this month and I'm not expecting a repeat of last spring. But keep your stops in mind in case we break down. Watching the 50dma.
clester
Well-known member
Looks like we had an almost perfect bounce off the 50dma in S fund. The setup is perfect for another run at that intraday high of 1576 and I think we bust through it this time.
clester
Well-known member
Woo hoo. Finally got that out of the way. Short covering should give us a good pop today. All I want now is a new high on the S fund.
jkenjohnson
Active member
jkenjohnson
Active member
We have jobless claims, PPI, Retail Sales, Consumer Sentiment and Business Inventories coming out tomorrow and Friday. Bad numbers associated with any of these indicators could cause a lot of selling.
clester
Well-known member
Just keep your stops in mind and let it roll IMO. I'm thinking we can rally through June. The previous high 1565 is a good one or the 50 dma. S fund is almost at new highs. Once we get through it I'll move my stops up
clester
Well-known member
The S fund got over that hurdle as well (barely). I'm looking for S fund via $emw to hit 830 for upside and should we go down I'm watching the 50dma. I won't sell at 830 but that is the area I see some resistance. We are in a bull market and IMO you have to be at least 50% in stocks. If we were to get very overbought I will sell 50% if the trend breaks.
Today could be a little profit taking since we had a good week. Earnings will play a big role starting this morning. But, as I've said many times, I expect the uptrend to continue until around July where we could get a big wave of profit taking. I think the sell in May folks will get surprised because everyone is talking about it and that means it probably won't happen. So, I playing the contrarian side.
clester
Well-known member
The bears are out again. The talking heads are all negative again. Cramer is down again this morning. I'm not worried yet. I'm watching the 50 dma for a sell signal. It's not unusual to retest a break out point and that's 1576 on the s&p. It's a good buying opportunity IMO. Be a contrarian. There are a few warning signs on the charts but no sell signals. just find a stop loss point in case the trade goes against us.
I'm looking for an afternoon rally.
I'm looking for an afternoon rally.
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