coolhand's Account Talk

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Birchtree said:
That was a good interview with Cramer and I'm totally on his side. The bull is reborn.
Click to expand...

Let me add this...

I do not make predictions. I do not "declare" anything...unlike Cramer. To get up in front of the masses and make bold statements is a fools game, regardless of whether the statement comes to pass or not.

It's one thing to believe something may come to pass when it comes to the markets, it's quite another to unequivocally state a markets condition the way he does.
 
We need this weakness. Question is, how deep will it go, assuming we don't rally again in the afternoon. I'm inclined to think the IT uptrend is still intact and that we will eventually make another move higher. This is Weird Wolly Wednesday though, so expect volatility. I am staying cash as one down day is not much of a correction (unless it gets ridiculous, and then I'd prefer to stay out). Good luck everyone.
 
Divin' In Coolhand - Well, kindof

Coolhand,

I think I see what you see. I got a decent piece of the rally, but blew it at the end with a very smart :toung: move to safety while we were still inside the mini-bull.

Anyway, I'm a'jumpin back it with a 50% allocation for me (I normally have between 80% and 100% in equities). The crappy IFT limit means that toes in the water are more like legs.
 
Re: Divin' In Coolhand - Well, kindof

Boghie said:
Coolhand,

I think I see what you see. I got a decent piece of the rally, but blew it at the end with a very smart :toung: move to safety while we were still inside the mini-bull.

Anyway, I'm a'jumpin back it with a 50% allocation for me (I normally have between 80% and 100% in equities). The crappy IFT limit means that toes in the water are more like legs.
Click to expand...

Good luck. It's a tough read, but sentiment wise the bearishness could keep things moving up as long as the downside action doesn't get out of control. Day by day here. Hoping for a little better set-up.
 
Hi Coolhand,
Today Tom showed us some sentiment indicators suggesting bulls to bears has become more neutral, to bullish. Volume today was really light, making me wonder "where'd the institutional-buyers go?" I actually even have a sense of Joe feeling euphoric now surrounding this rally - Of course, making the case for the contrarian. Suppose we just wait and see, but I recall your prior post, that I enjoyed tremendously, and just wanted to rehash that one for everyone! :cool::rolleyes:...
http://www.msnbc.msn.com/id/22425001/vp/30018200#30018200
 
Last edited:
hessian said:
Hi Coolhand,
Today Tom showed us some sentiment indicators suggesting bulls to bears is becoming more neutral.
Click to expand...

Yes. As indicators go neutral overall, but bearish over the long term, which can be supportive for sustained upward momentum. Still a lot of cash looking for another home too. But it's very difficult to know with any certainty that we've seen the bottom for more than the intermediate term. Of course, Cramer has the answer to that question. :rolleyes::laugh:
 
Birchtree said:
All the bear could do today was knock 7.02 off the SPX.
Click to expand...

That's true. And on light volume. But we all know how unpredictable the market can be; although I've said that I still believe we are in an IT uptrend. We're just due for some consolidation right now. At least that's my expectation.
 
Today is "weird Wolly Wednesday"--that is the Wednesday before options expiration when "da Boyz" run the market down (or up, sometimes) in volatile fashion in order to set up expiration strategy(s).

I would not read too much into this market today and I don't plan to trade it. Technicals are deteriorating, although the IT uptrend is still valid. I'm hoping to get a better read on the market tomorrow after today's anticipated volatility.
 
RonUSPSretired said:
IYB seems to indicate that we are only half way through the IT and still have some upside to go with the SS
Click to expand...

I have cautiously felt that we did indeed have more upside. I had hoped for a better entry point and was getting close to pulling the trigger when they jacked the market up the last two days. :suspicious:

I have to say, I went to G fund about 10 days before the end of March, thinking we had a fair amount of weakness to endure, but we have not had nearly as much as some predicted. I realize in hindsight that I got a little too cute when I bailed while the SS were still on a buy. Even with the quick sell signal, it went back to a buy 3 trading days later. Sentiment has been largely neutral this past week, but the market didn't act like it.

Lesson learned: Don't fight the Seven Sentinels. Especially with our limited moves. :rolleyes:
 
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