coolhand's Account Talk

[WorkFE]

It was only a VERY small power move that if went in the MARKET direction I had hoped it would might net me 1%. Nothing more.
Being a military man I assumed the worst (my enemy would not play by the rules). No Harm No Foul. I can not change the Results

 

[coolhand]

For the moment it looks like the Iranian election will drop out of sight, but I have to wonder if there's an undercurrent of change brewing (it's a given that if there is it will take time to play out).

On another note, if this chart is to be believed, it would seem the current rally is well past due for a more significant correction than we've seen so far. See attachment.

 

[coolhand]

Sentiment is still a mixed bag. But note mutual fund cash levels in these charts.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38695368

 

[XL-entLady]

CH, a drive by hi to say thanks for your posts. As I'm trying to catch up on what happened last week, your thread is the one that gives me the pertinent information. You're like Joe Friday, "All we want are the facts, ma'am."

Lady

 

[coolhand]

Is there a bottom to stupidity?

http://globaleconomicanalysis.blogspot.com/2009/06/california-foreclosure-moratoriums.html

 

[coolhand]

Where do we fit in here?

http://img88.imageshack.us/img88/1513/1929crashpe9.gif

 

[Uptrend]

Great Chart! There is a beautiful cup with handle on the chart that started in March 1932 and completed the handle a year later. A tell of great things to come.

We have no such formation for this recession at this time - just a steep V bottom. However, we may be forming an inverse head and shoulders pattern, and if so should be adding to the right shoulder this summer/fall with some retracement to the spx 750-800 area that corresponds to the left shoulder of November 2008.

 

[coolhand]

Great Chart! There is a beautiful cup with handle on the chart that started in March 1932 and completed the handle a year later. A tell of great things to come.

We have no such formation for this recession at this time - just a steep V bottom. However, we may be forming an inverse head and shoulders pattern, and if so should be adding to the right shoulder this summer/fall with some retracement to the spx 750-800 area that corresponds to the left shoulder of November 2008.

Good eye.

If today's action holds, and I'm pretty sure it will, we will see a third SS sell. This time it appears decisive.

 

[coolhand]

It's official. We got a third Seven Sentinels sell signal today. That's three in about 5 weeks. This IT decline is taking longer than normally expected, but then this isn't exactly a normal market.

Still all G and waiting patiently for the next buy signal. Expect that to take at least a couple months or longer.

 

[coolhand]

http://www.stratfor.com/media_room/stratforvideo/

 

[coolhand]

Please note that I've started a poll. Vote if you're interested in it. I'll explain my reason for the poll this evening.

 

[nasa1974]

Shows how much I pay attention. I thought you were.

 

[coolhand]

I think this is going to become a major issue. Interesting it comes from the Chicago Tribune.

http://www.chicagotribune.com/news/nationworld/chi-tc-nw-inspectors-0617-0618jun18,0,5718990.story

 

[coolhand]

Here's something to think about in light of all the "earnings" reports we hear about from week to week. It's all about context.

http://www.comstockfunds.com/screenprint.aspx?newsletterid=1463&AspxAutoDetectCookieSupport=1

 

[coolhand]

http://www.cnbc.com/id/31446671

 

[coolhand]

I've been in G fund since May 12th, which I'm kinda proud of as I'm learning to exercise more patience while waiting for better opportunities. This week may be just such an opportunity. There's a good chance for at least a short term rally, perhaps this week, as sentiment supports a bounce in the short term. Since we are getting close to the end of the month I may take a shot at some very short term gains, but my Intermediate Term indicator (the SS) remains in cash. Looking for some weakness today to buy in to. Futures are down moderately, and if we can hold that weakness throughout the day I'm hoping to catch a bounce later this week.

We'll see how the morning action goes. If weakness dissipates too quickly, I'll remain in cash.

 

[coolhand]

Here's the reason why I'm looking for a short term rally.

http://www.traders-talk.com/mb2/index.php?showtopic=107515

This is taken from a premium service I subscribe to, part of which was posted on the open MB. I won't play a one day buy signal with TSP, but with the five day also in buy territory it greatly enhances my chance for some profit.

These one and five day signals are not as straight forward as you might think. They are issued with a measure of flexibility, which is why the one day signal is good until Wednesday.

 

[coolhand]

50/50 CS. Don't expect to stick around for more than 1 - 3 days.

 

[Minnow]

50/50 CS. Don't expect to stick around for more than 1 - 3 days.

Good luck... Tomorrow might turn on the crude inventories or something out of the FED. Looks like somewhere around 897 SPX needs to hold today. Looks like the dollar still wants to move up, though. If I had an IFT left, I would probably have picked Wednesday or Thursday but, here's hoping your move is profitable!!!

 

[coolhand]

Good luck... Tomorrow might turn on the crude inventories or something out of the FED. Looks like somewhere around 897 SPX needs to hold today. Looks like the dollar still wants to move up, though. If I had an IFT left, I would probably have picked Wednesday or Thursday but, here's hoping your move is profitable!!!

I have to remain flexible with this buy signal, but I don't want to push my luck either. It could play out for up to 6 or 7 days. We are coming up on the end of the quarter, so window dressing may be liberally applied very soon.