coolhand's Account Talk

Sort by newest Sort by date
In spite of the early pop this morning I am expecting weakness today and/or tomorrow. Will be doing some buying today, but not going 100% just yet in case tomorrow provides for a better entry.
 
I was hoping for weakness these past two days, and we may see it by the close today and perhaps some bleed over into tomorrow, but I'm not waiting around for it any longer with a SS buy signal. I committed the rest of my cash and now hold a 30/30/40 CSI position at the close.
 
Panic buying is starting to kick up some dust - we could get a bullish catapult to SPX 1050 before the week ends - big money is walking the walk.
 
XLF is testing the upper trendline on the weekly... if the 10 year bond sale goes as planned, it will be a breakout of the financials above the upper bearish trendline dating back to the beginning of the crash... i'm sure it'll test that breakout but, heh, IT IS THERE NOW. As far as tech analysis news, this is huge. I think the seven sentinels are capturing that as well, plus the PSAR pop to the upside on the s&p daily today.
 
fedgolfer said:
XLF is testing the upper trendline on the weekly... if the 10 year bond sale goes as planned, it will be a breakout of the financials above the upper bearish trendline dating back to the beginning of the crash... i'm sure it'll test that breakout but, heh, IT IS THERE NOW. As far as tech analysis news, this is huge. I think the seven sentinels are capturing that as well, plus the PSAR pop to the upside on the s&p daily today.
Click to expand...

Thanks for your observations. Helps to confirm what I'm seeing. :)
 
Boghie said:
CoolHand,

Aren't some of the chart for SS supposed to hold for six days? Or is the six days thing factored into the chart (like a simple moving averate)?

Uuuuggggghhhh, I can understand the SS charts when you go through them - but looking at them as a big ole mash up on the primary site confuses the heck out of me. Any real good books for an intermediate investor type for using charts???
Click to expand...

Sorry Boghie, I missed this post.

The six days are the Exponential Moving Average for NAMO, NYMO, NAHL, and NYHL. But really, the Seven Sentinels is not meant to be something that has to be interpreted a whole lot. You just need to follow the rules. That's about it. It's pretty basic stuff. Don't let the chart itself overwhelm you.

I don't know about books, but I've no doubt there are many. But stockcharts.com has a learning area that does a good job of explaining various technical indicators.

http://stockcharts.com/school/doku.php?id=chart_school
 
Maybe we can chalk another correction over with in the Nasdaq after today. I have to believe that after many brokerage houses came back to work after this summer hiatus everyone speaks of, they had to have looked at their 'super-ultra high growth portfolio' aka S&P 500 index fund in disguise, and said Oh Shoot! We are underperforming because we overweighted defensive stocks during the summer months and we have to do something fast if we are to get back to our benchmark.

RE: TA
Any technical analysis books by Michael Kahn or Martin Pring are good places to get the basics. Kahn does the TA section in Barron's each week and does a pretty good job without 'over-charting'. Don't take it in the wrong way, but those 'For Dummies' books are a good start too. Some 'For Dummies' titles I've read are, Market Timing, Technical Analysis and Day Trading.

If you feel those titles aren't high speed enough, then there's always 'Trend Following' by Michael Covel to keep you busy.
 
I was so looking forward to a SPX close of 1036 so I could ask Coolhand to pass the Heinz 57 that was left on the table. That's the last SS sacrifice.
 
You must log in or register to reply here.

Similar threads

russ24567
Russ24567's Account Talk
Replies
1
Views
311
tsptalk
tsptalk
tsptalk
  • Article Article
Where was the Monday rebound?
Replies
1
Views
196
JTH
JTH
tsptalk
  • Article Article
Stocks were mixed last week after Mag 7 earnings
Replies
0
Views
202
tsptalk
tsptalk
tsptalk
  • Article Article
After all that, the S&P 500 ends November with a gain?
Replies
0
Views
110
tsptalk
tsptalk
J
Lurker Looking to Learn
Replies
3
Views
160
dannyboy
D
Back
Top