clester's Account Talk

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Clester, I am hoping your birthday weekend was great, and was noticeably different from just any other day since retirement - :D
 
I don't hear this on TV but does anyone else see that Germany seems to be taking over Europe without firing a shot. They have now gotten most of the EU countries to give up their sovereignty with these new fiscal controls. Britain and a few others are holding out. They are definitely in charge.

Perhaps, that's good. At least it's voluntary. It may help with the markets. I'm still looking for a breakout but if we go up today then yesterday's low would be a good exit point if one were to buy today.
 
clester said:
I don't hear this on TV but does anyone else see that Germany seems to be taking over Europe without firing a shot. They have now gotten most of the EU countries to give up their sovereignty with these new fiscal controls. Britain and a few others are holding out. They are definitely in charge.

Perhaps, that's good. At least it's voluntary. It may help with the markets. I'm still looking for a breakout but if we go up today then yesterday's low would be a good exit point if one were to buy today.
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Yup, I noticed that too a few months ago as I started to take notice of the European debt issues and how that related to the Euro control over the individual countries. After the British PM's comments, I think that it might be on the minds of just a few people in London too...
 
Ok. We stopped the bleeding for a day. The Nasdaq filled a gap from last week. There is still one to go. It has had a bullish crossover of 50 and 200 dma.

Spx needs to get back above the 50 day soon.

We don't really have a strong case either way.
 
Things seem better today. $tran bounced off 50 dma and we have a higher low on indices which gives us a uptrend. Doom and gloom over Europe may have played out for a few days. Holding over the weekend is scary. Maybe all the folks shorting are covering in case of good news.
 
clester said:
Things seem better today. $tran bounced off 50 dma and we have a higher low on indices which gives us a uptrend. Doom and gloom over Europe may have played out for a few days. Holding over the weekend is scary. Maybe all the folks shorting are covering in case of good news.
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What if it's just a quick 3-day bear flag, followed by more downside? AGG is up today...
 
Could be, of course. Today is options expiration too.

I get this feeling though that we may trend up for a while longer. My sell signal is the low of 2 days ago. That is the the trend line and would give us a lower low.

It's also a contrarian view. Very negative commentary on TV.
 
Looks to me like we are in a triangle pattern from October. The trend line from the top is going down while the trend line from lows is climbing. We should get a resolution soon. We are also hovering around the 50 dma in S&P. Not much conviction either way. Sentiment on TV is bad, Europe sucks, and china is slowing, so maybe that will help from a contrarian viewpoint.
 
clester said:
Looks to me like we are in a triangle pattern from October. The trend line from the top is going down while the trend line from lows is climbing. We should get a resolution soon. We are also hovering around the 50 dma in S&P. Not much conviction either way. Sentiment on TV is bad, Europe sucks, and china is slowing, so maybe that will help from a contrarian viewpoint.
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Nice rally! Still not much help on charts though. We need a break above the 200 dma. If we can make a run past that we may have some room to run.
 
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clester said:
Nice rally! Still not much help on charts though. We need a break above the 200 dma. If we can make a run past that we may have some room to run.
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Ditto. Still in a triangle pattern from Oct. nice recovery yesterday shows there may be some appetite for stocks. Looking for that breakout.
 
clester said:
Ditto. Still in a triangle pattern from Oct. nice recovery yesterday shows there may be some appetite for stocks. Looking for that breakout.
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Ditto. Still in the triangle pattern. Not worried about selloff today. Nothing has changed. Waiting for a resolution of descending highs and ascending lows. Looks like it will be Jan before we find out.
 
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