coolhand's Account Talk

[Birchtree]

Nah, just another one day wonder to shake a few off the bullish line. Bull markets do not like company and the higher we go the stiffer the pullbacks will be to make sure that not everyone is participating as we continue to move higher and higher. Currently the macd's reside in a configuration that has characterized prior sustained price uptrends.

 

[coolhand]

Yea, That does not look good. Looks like support around the 335 area. I might be loading the Boat next week. We will see. Futures which is just that futures do not look good.

http://www.bloomberg.com/markets/stocks/futures.html

http://money.cnn.com/data/markets/index.html

I'm hoping to load the boat myself. Suspect the bulls will pile in again when they sniff the next turn. May have to do another front run of the SS. Just have to make sure I don't step in any bull manure. BT's been spreading it around again. :laugh:

 

[Birchtree]

From my thread post #7541: "The SPX stretched 20% beyond its 200 day moving average, incredibly extreme territory never even approached in the entire last cyclical bull." Yes, Virginia this time it is different as the most hated rally in the history of rallies continues. The long term trend line for the NYSE is at 7750 - now at 7356 and it won't be long before resistance turns into support. The VIX was really acting funny Friday not being able to hold the negative spike to the 19 level - instead closed at 17.91 only up 0.28 rather than the previous +1.37. Can you feel the rumblings of the stampede - who is going to rebuild Haiti? I know.

 

[coolhand]

From my thread post #7541: "The SPX stretched 20% beyond its 200 day moving average, incredibly extreme territory never even approached in the entire last cyclical bull." Yes, Virginia this time it is different as the most hated rally in the history of rallies continues. The long term trend line for the NYSE is at 7750 - now at 7356 and it won't be long before resistance turns into support. The VIX was really acting funny Friday not being able to hold the negative spike to the 19 level - instead closed at 17.91 only up 0.28 rather than the previous +1.37. Can you feel the rumblings of the stampede - who is going to rebuild Haiti? I know.

I guess that means we'll only see a max of 3 or 4 down days the rest of the year. :nuts:

 

[Birchtree]

Have you ever looked at 1995 - there was hardly any give back the entire year. We could easily get a repeat - be strong and stay long.

 

[poolman]

Friends don't let Friends Buy And Hold.

Market's do not go straight up without a correction. We all know that.
2009 was a very good year after the Correction from Hell.

If it where not for the PPT the Dow would probably be around the 3 to 4 Thousand level about now. It was done to avoid the worst Depression we or anybody has ever seen. It was also done so the Company's to Big to Fail would not Fail. What does that tell you ? Where did the Money come from ? Are we going to pay for this ? Where do you think the Stock Market is going to be 10 year's from now ?

Folks I hate to say this and I'm sure allot of you already know this But
"The Biggest Bubble Ever is being created that will also Fail".

Just be on your Toes and Don't look away for to long.

Friends do not let Friends Buy and Hold. This Motto has Sticking Power.
Believe Me.

There will be lots of Money to be made But Be on your Toes.

 

[Show-me]

Preach it Brother!

Friends don't let Friends Buy And Hold.

Market's do not go straight up without a correction. We all know that.
2009 was a very good year after the Correction from Hell.

If it where not for the PPT the Dow would probably be around the 3 to 4 Thousand level about now. It was done to avoid the worst Depression we or anybody has ever seen. It was also done so the Company's to Big to Fail would not Fail. What does that tell you ? Where did the Money come from ? Are we going to pay for this ? Where do you think the Stock Market is going to be 10 year's from now ?

Folks I hate to say this and I'm sure allot of you already know this But
"The Biggest Bubble Ever is being created that will also Fail".

Just be on your Toes and Don't look away for to long.

Friends to not let Friends Buy and Hold. This Motto has Sticking Power.
Believe Me.

There will be lots of Money to be made But Be on your Toes.

 

[coolhand]

http://seekingalpha.com/article/180879-employment-chart-goods-producing-vs-government-jobs

 

[coolhand]

Don't tell BT about this chart...it's like catnip to him.

View attachment 7987

 

[Silverbird]

http://seekingalpha.com/article/180879-employment-chart-goods-producing-vs-government-jobs

For good, or for ill (I do happen to believe it's for ill), the U.S. has become a service-oriented job market. So, if government has grown at all (and we know it has), of course it is going to grow faster than manufacturing! The point is, manufacturing has gone down - no mention of services in the article, this is a three legged job market. So I find this article missing a very important angle - those who no longer are in manufacturing jobs and and found a job mostly did not go into government employment, most went into the services industries!

The hollowing out of manufacturing here is a different point, it isn't that somehow the government took away manufacturing jobs to feed itself, which is what seems to be suggested here. Without the services angle, I don't understand what the point is. To me the point is there is a big difference between a machine tool operator and and a retail store clerk, and the size of the bureaucracy (and the military since they also would count in government) is beside the point on the hollowing out of manufacturing.

 

[Valkyrie]

For good, or for ill (I do happen to believe it's for ill), the U.S. has become a service-oriented job market. So, if government has grown at all (and we know it has), of course it is going to grow faster than manufacturing! The point is, manufacturing has gone down - no mention of services in the article, this is a three legged job market. So I find this article missing a very important angle - those who no longer are in manufacturing jobs and and found a job mostly did not go into government employment, most went into the services industries!

The hollowing out of manufacturing here is a different point, it isn't that somehow the government took away manufacturing jobs to feed itself, which is what seems to be suggested here. Without the services angle, I don't understand what the point is. To me the point is there is a big difference between a machine tool operator and and a retail store clerk, and the size of the bureaucracy (and the military since they also would count in government) is beside the point on the hollowing out of manufacturing.

the govt has done away with millions of manufacturing jobs through the draconia/communist efforts of the EPA and OSHA.
presently the new wave of jobs going away are oil refinery jobs. The raw oil is now going to india being processed into gasoline there and then shipped to the USSA for our use.

 

[Silverbird]

Eh? You like the stuff coming out of China with weak/no EPA and OSHA rules?

 

[coolhand]

If the market continues to trade through the day the way it opened, we could get another Seven Sentinels sell signal today. At this time I am "not" following yesterday's buy signal as the SS are basically sitting on support and this initial drop this morning (if it carries through the day) can easily roll it over again. If this market decides to have any follow-through to the down side it will certainly catch the dip buyers off guard.

 

[Uptrend]

Coolhand: The way I read the SS buy and sell signal, the Rule #1 needs to be met for a buy. Basically the SPX must be declining when positive divergency appears on the indicators. I don't think that test was met yesterday. So I think you are wise to be cautious.

 

[coolhand]

Coolhand: The way I read the SS buy and sell signal, the Rule #1 needs to be met for a buy. Basically the SPX must be declining when positive divergency appears on the indicators. I don't think that test was met yesterday. So I think you are wise to be cautious.

We already have a lower low today, and that's not bullish. I'll take it one day at a time, but there's a good chance we don't bounce right away.

 

[Minnow]

Coolhand: The way I read the SS buy and sell signal, the Rule #1 needs to be met for a buy. Basically the SPX must be declining when positive divergency appears on the indicators. I don't think that test was met yesterday. So I think you are wise to be cautious.

I was gonna write the same thing but take a couple of paragraphs to do it... Good on ya, Uptrend.

Just looking at SPX bollingers, it appears that some dip buying could come in at 1131... or if this turns into more than a few hours of selling, the bottom of the band might show up somewhere tomorrow around 1117ish... tough to make that call with only 2 IFTs...

 

[coolhand]

I was gonna write the same thing but take a couple of paragraphs to do it... Good on ya, Uptrend.

Just looking at SPX bollingers, it appears that some dip buying could come in at 1131... or if this turns into more than a few hours of selling, the bottom of the band might show up somewhere tomorrow around 1117ish... tough to make that call with only 2 IFTs...

I know 1133 SPX is support, but I'm not so sure it's bullish because it closed above that level by 5 points today. Could be a bull trap, but we haven't seen many of those in recent months. Still, they've been trained well to buy the dips. One of these days the hammer's coming out.

 

[poolman]

I know 1133 SPX is support, but I'm not so sure it's bullish because it closed above that level by 5 points today. Could be a bull trap, but we haven't seen many of those in recent months. Still, they've been trained well to buy the dips. One of these days the hammer's coming out.

I agree with you Coolhand. We where down under 1133 s&p for a good part of the day. I do not think the 1133 support level is very strong support. I think we could easily succumb to the 1113 s&p support level.

Good thoughts on your behalf too Minnow. This 2 IFT limit is seriously a damper on most people's trading style. I know that is the way they want it in TSP Account land. They don't want people trading these Accounts very often.

 

[clester]

Still, they've been trained well to buy the dips. One of these days the hammer's coming out.

I've been thinking the same thing. When everyone is on the same page it quits working.

 

[coolhand]

I've been thinking the same thing. When everyone is on the same page it quits working.

Exactly!