coolhand's Account Talk

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I don't think the market's going to hold up this afternoon. I'm thinking new lows coming next week before a meaningful bounce.
 
coolhand said:
I don't think the market's going to hold up this afternoon. I'm thinking new lows coming next week before a meaningful bounce.
Click to expand...

I agree, does not look pretty right now. I am in agreement with Corepuncher that we will get to the 1030 to 1040 area
 
Agreed on the next resistance line down being near 1030 (or even lower), but I am hoping for a bounce for the first half of next week. Rolled the dice and went all in to start the month of right!!! (I HOPE:()

Regardless, have a great weekend!!!
 
Good article. Let's see now - give the minority at risk crowd principle reductions - I don't think so. The Obama constituency were mostly unqualified from the beginning - the only answer is to increase the amount of the welfare check and give those that are paying the true cost of his programs a tax cut. I'll take a slower recovery and eat the remaining foreclosures.
 
coolhand said:
Here's a post from Semibiz today (He's got his own premium service on the web). I don't dismiss his views lightly. His view is basically the same as mine as I posted in my latest blog.

http://www.traders-talk.com/mb2/index.php?showtopic=115626
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Stop posting common sense, nobody wants to hear that sort of rubbish until they've lost all their money. :cheesy: Seriously though, you have to respect that fact we've failed to close above a 50% retracement twice on the monthly charts. SPX 1015 (38.2% retracement) is more than feasible. If that happens you can't rule out another test of 666....JMHO
View attachment 8115
 
Last edited:
JTH said:
Stop posting common sense, nobody wants to hear that sort of rubbish until they've lost all their money. :cheesy: Seriously though, you have to respect that fact we've failed to close above a 50% retracement twice on the monthly charts. SPX 1015 (38.2% retracement) is more than feasible. If that happens you can't rule out another test of 666....JMHO
View attachment 8115
Click to expand...

The March lows may be coming, although that's a long way down. Your charts are confirming my own as far as being in cash. Europe and China have my attention and they will impact our own domestic market at some point. It's not if, but when. I don't think the dollar rally is a fluke at the moment either.

More from Semi...

http://volumedynamics.com/forums/index.php?showtopic=1398
 
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=as_YC9eMhEL8

Examiners are looking into possible wrongdoing linked to the financial-industry bailout, including insider trading, accounting violations, mortgage fraud, obstruction of justice and money laundering, according to the report. Barofsky didn’t identify the targets of pending investigations, though details of some cases have emerged separately.



Oh yeah, this instills confidence in my market psyche. :rolleyes:
 
coolhand said:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=as_YC9eMhEL8

Examiners are looking into possible wrongdoing linked to the financial-industry bailout, including insider trading, accounting violations, mortgage fraud, obstruction of justice and money laundering, according to the report. Barofsky didn’t identify the targets of pending investigations, though details of some cases have emerged separately.



Oh yeah, this instills confidence in my market psyche. :rolleyes:
Click to expand...


They are all crooks and should do hard time. Not some country club facility.
 
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