Fedgolfer's Account Talk

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... this AM was clearly a short-covering rally as everyone was fear-mongered over the weekend. now that the profit takers locked in, we're back at the mid-bollingers on the 10-minute candlesticks in dwcp and the uyg at 10:30 AM... maybe they'll buy back in and keep the charts afloat in the green, if not we'll definitely visit Fridays close and the lower bollingers. I'd like to sell the S-fund if the s&p can close anywhere north of 1310, that 1320 seems like it will be running on fumes. Still holding 100% S, will either sell at the top of the bull channel or get stopped out on the break of the lower channel, but we're still in the middle and show a chance of breaking into the upper half of the bollinger and the dwcpf weekly charts.
 
Now comes the tricky part. With most of the vacations over the volume should increase. But in what direction?:confused: With the limited IFT's, when do we try and catch the wave? Now or wait til mid month??? GGGRRRRRR!!!!!


May the force be with us.:cool:
 
fedgolfer said:
... but we're still in the middle and show a chance of breaking into the upper half of the bollinger and the dwcpf weekly charts.
Click to expand...

We probably see the same thing - but I don't know the term.

Am also 100% S.

I think as long as we can project a stronger dollar, lower oil, and a hugely FALSE SENSE of recovery things will get better. That the election is split 50/50 could all the more put things in our favor. It is likely this will all the more get everyone involved and all will go forward with "optimism" (at least that's what I'm hoping for).

So I guess the bottom line from my perspective - selling too soon will make it impossible to find another good entry point when it keeps going up like a rocket.
 
nasa1974 said:
Now comes the tricky part. With most of the vacations over the volume should increase.
Click to expand...

UYG volume is up big this morning, people are obviously taking profits. But those that are taking the profits, probably didn't buy in on thursday or friday knowing that the oil/financial trade could blow up over the weekend. So the big volume may be the smart money that bought in below $19 between 8/20 and 8/26, they may just be trimming some gains, and buy in later. I haven't made up my mind on financials until it breaks the bull channel pattern it is in for the last 4-days.

S-fund daily chart i'm worried about as the upper bollinger just ticked down to make it look the today's candlestick piereced it and sold off, even though it didn't happen in that order -- it's looking toppy and on the verge of another multi-day decline. I'm going to play the weekly chart though since we have limited IFTs. It is tough to hold on for more than a few days in these markets but i'm going to try to remain unemotional and only sell if I get stopped out or we hit a euphoic top (which may have well been this AM... but I'm leaning to say it was short-covering and people are actually waiting to buy back in).
 
I like your thought process FedGolfer, some great thoughts today. Keep those wheels churning!
 
She's right, the way it's been presented, the bailout looks like primo welfare for the rich, the ones who messed up the financial system in the first place, without them having to cash in food stamps or live in subsidized housing. This has been the worst attempt to make the electorate trust you with money that I've ever seen.
 
If the individual banks and various lenders had kept their mortgages instead of contaminating the rest of the financial system with CDOs, CDS. SIV, and green slime, then I'd say let them swim on their own volition. But that is not the situation we are presented with - we cannot let the at risk in our society sink without the appearance of a life raft. I'm still holding out for some cheaper land to buy for the summer place in Western North Carolina - but they are resistant to lowering prices. They keep thinking the buyers will come.
 
fedgolfer said:
"no" on $700B bailout = $850 billion loss in market cap... gone, bye-bye.
Click to expand...

True, but did the world come to an end, like they said it would? NO!!

I think everyone should just realize that we are going to go through a recession, which is an ordinary part of the business cycle. This one may be more severe, however, since the last recession was artificially ended by inflating the money supply, which played a large part in the current credit bubble.
 
fedgolfer said:
ban will be extended at least through the passage of the rescue bill... and most think through the election.
Click to expand...

you just wanted to give everyone jumping in today a little "food for thought," huh? :D

---- from a Braves fan GO CUBBIES!!!!!!
 
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