DreamboatAnnie's Account Talk

[Epic]

Charts. Yes, contemplating entry...

HMMM, buying into the weekend on a Friday the 13th. . . . . . :worried: . . . .

 

[quabit]

Full STO looking promising on C, S and I...

I am torn now. I was hoping to catch a bounce but it is has taken off today which is scary don't know if I should pull my trade or move to something safer. Wish we could trade the end of day. I'm on vacation next week so that makes it even harder. I pulled my trade. I feel like it wants to bounce but I'm going stay safe. Loosing money to inflation sucks though.

 

[DreamboatAnnie]

Yes Ravensfan it does look promising but just listened to Ira... Points out Stochastic still below 20...embedded. so I am staying out until it stops being embedded. Ugghhhhh. .... Plus Friday 13th..LOL.

Yes Quabit, I was torn too....I keep getting burned on failed breakouts.

Hope you all have a Great Weekend! :smile:

 

[Valkyrie]

Yes Ravensfan it does look promising but just listened to Ira... Points out Stochastic still below 20...embedded. so I am staying out until it stops being embedded. Ugghhhhh. .... Plus Friday 13th..LOL.

Yes Quabit, I was torn too....I keep getting burned on failed breakouts.
Hope you all have a Great Weekend!

oscar today explains why russell is jumping. short lived event.

 

[ravensfan]

Yes Ravensfan it does look promising but just listened to Ira... Points out Stochastic still below 20...embedded. so I am staying out until it stops being embedded. Ugghhhhh. .... Plus Friday 13th..LOL.

Yes Quabit, I was torn too....I keep getting burned on failed breakouts.

Hope you all have a Great Weekend! :smile:

At this point, I can wait for 21. Have a great weekend as well!!!
Okay, it's Margarita time!

 

[DreamboatAnnie]

Here are Friday's COB charts.

 

[DreamboatAnnie]

Charts as of few mins ago. :smile:

 

[DreamboatAnnie]

Charts as of a few mins ago. So yesterday market came up and touched resistance line (on S and C charts) just like magic and today it's backing off.

 

[DreamboatAnnie]

Unfortunately, I was not able to post charts yesterday because my internet service went down around the time I usually post. This has now happened twice this month at about the same time and I am starting to wonder if it's just a coincidence. Very irritating! If this happens again, you may look at my signature line for page #/post# of permalinks to my charts.

So, the market is backing off a bit today. I do not plan to get back into this market unless I feel more confident about inflation and even then, I am promising myself to get out a day or two later at most. I do follow Ira Epstein and Des at Grok Trade. Ira has said to expect continued downside for quite some time. A few weeks ago, he mentioned the rallies and drops will be large and quick.... Indicative of typical Bear market action.

This morning Eddie Ghabour, on FBN Varney, said that yesterday Fed chair Powell made it clear he does not care about market and he is trying to get inflation down. He said this was his greatest fear. There is no Fed put! Said Fed cannot reduce food or fuel prices. Believes S&P will go down 30% this year. Fed is "sucking liquidity out of market and it will burst". Yesterday, Fed chair said they will be aggressive and "will hike rates until inflation is tamed". Hummm.... :suspicious:

I guess we will see... Bear strategy in gear. Hope I can make something back this year, but entries will be risky. Short stays and exits will as well. Might employ exiting 50% on a big up day to lessen risk on the exits since its all over the place.

 

[Whipsaw]

30%... meaning another 10% or so down? or another 30% =:-o

 

[DreamboatAnnie]

Varney asked him if he saw S&P at 3000, and Eddie said YES!

Also, it was reported JP Morgan sees gas at $6/gallon thIs Summer (national average)! Ouch!

Varney reported it us a refinery issue and drillers must drill more.. I don't see that happening with current regulatory environment. Also was reported Chevron "in talks" with Venezuela (dictatorship) to buy more oil (administration is only allowing them) and reportedly only Chevron still operating (has infrastructure??) in Venezuela...???

 

[ravensfan]

I heard another 30% down from here...meaning S&P could fall to 3000...

 

[ravensfan]

 

[nasa1974]

I heard another 30% down from here...meaning S&P could fall to 3000...

I'm down 20%+ already. I can't survive another 30%. :soapbox:

 

[DreamboatAnnie]

Well, I do believe the 2007-2008 bear fell around 50% when all was said and done. So, if this is it, I would not be surprised to see it drop about that much. I am no expert but if it has happened before, it can happen again!

 

[DreamboatAnnie]

Looking back at 2007-2008 drop.
View attachment 54415

 

[DreamboatAnnie]

Here are the numbers so far from the highs of late last year until now. Chart below says intraday, but these are COB numbers at end of day today.

 

[DreamboatAnnie]

posting the2007-2008 drop info again. Hope its valid this time and displays.

 

[rangerray]

I reckon what happens to the cost of auto fuel on top of everything else should a big hurricane in the Gulf shut down a refinery or two? We may need to buy stock in bicycle companies.


Scott Harrison
Senatobia, MS

 

[nasa1974]

DBA, Great charts thanks. Felt it in 2008 and feeling it now.