coolhand's Account Talk

[coolhand]

That SS sell signal is looking pretty good about now. Looks like the selling may be beginning earlier than some predicted. Lot's of gains to protect for those fortunate enough to buy in low on this uptrend.

But I'm not top calling.

We could still see another push higher before this thing reverses for the intermediate term, but I'm not so sure I'd be playing for it just in case we don't get it.

JMHO of course.

 

[CrabClaw]

Thanks for the update I burned my last IFT of the month and took a small position in equities to capture the uptrend some are calling for if it occurs.

 

[Bullitt]

Nice hanging tail on volume today. Let's see what the program traders do once 3:30 hits.

 

[fedgolfer]

man, this bull is bucking. my last to TSP stock IFTs I went in when the markets were down 1% or more and by days end, I had bought in higher. Last time I was able to get some green, but this time... I'll have to wait and see. What's a tail on volume, Bullit?

 

[Bullitt]

Hanging Tail is when you get an equity going down from the open price, then builds momentum to regain positive territory for the day, hence the hanging tail in a candlestick chart from the days low. These are most often a sign of bullish buying on the dip, especially if on volume. NYSE volume is up good today, but I'm sure it's primarily due to AIG, C, and BAC, FNM and FRE all trading over 100 million already.

Again, we're going to have to see what the 'bots' decide to do from 3:30 until the close.

 

[fedgolfer]

gotcha, I know what tails are on candlesticks but I thought you had some vodoo candlesticks on volume not price. But I know what you were getting at now. THANKS!

 

[coolhand]

The market may be eking out some gains, but the Seven Sentinels do not look bullish. 5 of 7 signals are in sell mode. The two that are on a buy are $TRIN and $TRINQ, which can flip quickly as they were on a sell Wednesday.

I'm looking for weakness by Monday, but another push higher could follow. The market seems to be forming a top, but it certainly could be another head fake as September unfolds. In a normal market with a SS sell signal in hand, we'd almost certainly be headed lower. Such is the power of an emotion led market.

For those that are cheering "good" market news as it's announced day to day, be aware that good news can become anathema if bullish levels rise enough to cause a distinct lean in that direction. We don't appear to be there yet and it actually could be some ways off yet. If you're a bull, you should be cheering bad news, because that's what fueling the short covering rallies.

 

[nasa1974]

The market opened green C & I just went red. Going to be another wacky day.

 

[coolhand]

A little vulgarity here, but it's a funny look at how emotion works in the markets.

The 5 stages of panic buying...

http://www.businessinsider.com/henry-blodget-the-five-stages-of-panic-buying-2009-8

 

[Boghie]

A little vulgarity here, but it's a funny look at how emotion works in the markets.

The 5 stages of panic buying...

http://www.businessinsider.com/henry-blodget-the-five-stages-of-panic-buying-2009-8

I think BT has been trying to coax Amoeba et. al. into the market.
He has been working on you and I as well

It has been a learning experience to read the folks' threads since September 2008. I changed from a buy and allocate, to a momentum trader, and hopefully back to buy and allocate. Didn't even notice it. And, you were far more bullish, got careful, and are regaining your bullishness. Birch is as he was, Steady is a little more risk adverse but still swings hard.

By the way, I really value the quintile summaries you have been posting on your blog. I've done something similar - but it was too complex. Your graphs are a big benefit.

 

[coolhand]

By the way, I really value the quintile summaries you have been posting on your blog. I've done something similar - but it was too complex. Your graphs are a big benefit.

Glad to hear it.

As I move forward with it, I'm hoping it will be time well spent.

 

[coolhand]

The biggest holders of U.S. Debt...

http://www.cnbc.com/id/29880401?slide=1

 

[coolhand]

Any Elliott Wavers out there?

http://www.marketwatch.com/story/elliott-wave-pulls-plug-on-stocks-obama-2009-08-31

 

[Boghie]

Gee, thanks CoolHand...

I like your optimistic posts better

 

[coolhand]

Gee, thanks CoolHand...

I like your optimistic posts better

Kinda like stepping out of the hot tub and taking a cold shower.

Here's an interesting tidbit of info. Guess it's one way for China to help weather their storm.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSPEK36146520090831

 

[coolhand]

Why foreclosures are taking so long and what we can expect moving forward.

http://www.cnbc.com/id/32630317

 

[coolhand]

Kinda like stepping out of the hot tub and taking a cold shower.

Here's an interesting tidbit of info. Guess it's one way for China to help weather their storm.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSPEK36146520090831

Follow-up on that China post.

http://www.reuters.com/article/etfNews/idUSPEK1183220090831?sp=true

 

[coolhand]

From Louis,

http://navellier.com/commentary/weekly_marketmail.aspx

 

[coolhand]

And Sy...

http://www.streetsmartreport.com/comm3.html

 

[JTH]

I've lost track of your 77s, I wonder if today will put all 7 into a sell?