coolhand's Account Talk

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airlift said:
Good Morning CH,

I'll be waiting for the SS to give the go-ahead. Thanks.
Click to expand...

Me too. Futures started to rise late last night, but this morning they're mixed. Not sure what to expect there. But the folks on TT are leaning bearish, which usually means we can expect some measure of selling today. Whether it sticks remains to be seen. Asia was up big last night, but EU is down.

I'm looking for a spot to grab 2-4% in December. New IFTs tomorrow. :)
 
Correction Time - Merry Christmass!!!

CoolHand,

I think - based on the last two months of charts - that we have reached the flatline point. Somewhere around 1100. This is the best we can get:p

From here on we will have our 5% - 10% 'corrections' with 5% - 10% boomlettes. Da Boyz cannot show more profits for fear of shareholder revolt, and they can't entice more into bonds because of inflation fears. Similarly, Da Boyz won't be investing in ever more expensive American labor for fear of the known unknown. Finally, the FED will have to start raising interest rates relatively soon or we will be using Pesos to buy our garbage from China.

Watch Kaleforneeeaaaaa, we are a leading indicator:sick:
 
It doesn't matter with China, no change in the value of our currency since their currency is tied to ours. So don't worry about the U.S. consumer being able to buy Chinese "garbage" (Caveat Empor of course on how well it's assembled!). Now, if you want to buy from the EU, Japan, Korea, Taiwan...just about anywhere else, the falling dollar IS a dis-incentive and you are better off buying U.S. :toung:

California is NOT a leading indicator, luckily Proposition 13 (can't raise taxes without an above majority vote - I think it's over 60% of the legislature - good luck) and the ability to add any project to a ballot - with no information on HOW it's going to be paid for - is only available in California.
 
Re: Correction Time - Merry Christmass!!!

Boghie said:
CoolHand,

I think - based on the last two months of charts - that we have reached the flatline point. Somewhere around 1100. This is the best we can get:p

From here on we will have our 5% - 10% 'corrections' with 5% - 10% boomlettes. Da Boyz cannot show more profits for fear of shareholder revolt, and they can't entice more into bonds because of inflation fears. Similarly, Da Boyz won't be investing in ever more expensive American labor for fear of the known unknown. Finally, the FED will have to start raising interest rates relatively soon or we will be using Pesos to buy our garbage from China.

Watch Kaleforneeeaaaaa, we are a leading indicator:sick:
Click to expand...

The Timing Point Projector model I posted in the past pegged this Thursday as the top with significant downside action to follow in the next few months. I still have that chart in the back of my mind even if I'm not trading off it. The Seven Sentinels are still on a sell and today looks to keep that sell signal intact. The NAMO and NYMO Summation Index I posted in my last blog really look poised for a good downturn in here. We may get a rally this week, but I'm thinking it won't last.
 
Re: Correction Time - Merry Christmass!!!

coolhand said:
The Timing Point Projector model I posted in the past pegged this Thursday as the top with significant downside action to follow in the next few months. I still have that chart in the back of my mind even if I'm not trading off it. The Seven Sentinels are still on a sell and today looks to keep that sell signal intact. The NAMO and NYMO Summation Index I posted in my last blog really look poised for a good downturn in here. We may get a rally this week, but I'm thinking it won't last.
Click to expand...

WOW, thanks Coolhand! I think........................:blink: I just want "12%" a year. :toung:
 
Re: Correction Time - Merry Christmass!!!

tsptalk said:
Just in case anyone is looking... http://www.timingpointprojector.com/
Click to expand...

both those scenarios look completely irrelevant now. On a sidenote, I've been trying to learn more about FX and index futures. In seeing some Fx tutorials, the height of currency trading is the overlap in the London/US market... that's why we often see the dollar turn at ~10-11AM EST... and then an upmove in equities from there. With all these modern platforms that allow for FX, futures, stock trading, traders then move from the leveraged currency trade to options, futures and stock trading, taking advantage of the morning discount. As long as these patterns occur somewhat regularly, I see this being good for the market in general... that's wealth creation around the clock. also, that gives the experienced trader/investor confidence to scalp & day trade their leverage FX/futures while holding long stock positions... This is why I think we see relatively low volume in the stock market (the big money is hunkering down on stocks and funding it with those high volume leveraged currency/commodity/index futures makets.) If other people are doing this, it would make good discussion. I feel kind of silly paying $9 for stock trades after learning more about the E-minis.
 
Re: Correction Time - Merry Christmass!!!

tsptalk said:
Just in case anyone is looking... http://www.timingpointprojector.com/
Click to expand...

Scares the bejesus (did I spell that right? And can I say that?) out of me.

At least--it scares me enough to sit on the sidelines for a little while and wait to see what's really happening.

I'm seeing mixed signals all over the place, unlike the pretty consistent signals I've seen over the last five or six months. I'm happy sitting it out for a while.

Thanks Coolhand for the data points- and the chart.
 
Re: Correction Time - Merry Christmass!!!

James48843 said:
Scares the bejesus (did I spell that right? And can I say that?) out of me.
Click to expand...

Yeah, I definitely don't like the potential for this rounding top forming in the S&P struggling at the long-term resistance line, coinciding with a triple top in the $tran, bearish crossovers and moving averages in the Nikkei, and several countries looking like penny stocks. Still, its about the countries that can afford stimulus and central bank intervention until leverage on the upside blows up again.
 
TT sentiment survey is leaning bearish again today, although not terribly so. Still, look for another reversal sometime today after the morning pop.
 
Re: Correction Time - Merry Christmass!!!

James48843 said:
Scares the bejesus (did I spell that right? And can I say that?) out of me.

At least--it scares me enough to sit on the sidelines for a little while and wait to see what's really happening.
Click to expand...

Yep, but...When that time comes you may be paying more for less shares. :blink:

As for your quote - mildly sacreligious? I don know, wheres the Mod? :toung:
 
Re: Correction Time - Merry Christmass!!!

Uptrend said:
Why would one choose the inversion over the projection - reasoning? Also, where is the November consolidation area at 1088 -1113?
Click to expand...

Mark has not updated this chart in weeks. Folks on TT have been asking about it and he's not addressing it.

It was fun to watch it play out when he was engaged with the chart, but his silence on the matter tells me he's abandoned it. It may have already served its purpose.

The chart was never meant to serve as a tool per se. He used to use it years ago, but dropped it from his toolbag. I think it was tracking so well recently that he wanted to see what others thought about it and to gauge whether there was any measurable interest in it by the MB.
 
Re: Correction Time - Merry Christmass!!!

grandma said:
Is `bejabbers' what you are looking for ??:)
Click to expand...

James48843 said:
Scares the bejesus (did I spell that right? And can I say that?) out of me.

At least--it scares me enough to sit on the sidelines for a little while and wait to see what's really happening.

I'm seeing mixed signals all over the place, unlike the pretty consistent signals I've seen over the last five or six months. I'm happy sitting it out for a while.

Thanks Coolhand for the data points- and the chart.
Click to expand...

http://en.wiktionary.org/wiki/bejesus :nuts:
 
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