JTH's Account Talk

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Of the 4 hoursman, only the Transports closed with a higher high when compared to the previous 6 days. This is what I call being on the "potential" cusp of a turning market. This could be the place to "strike a blow against the Bears."

If we close higher today & Monday, then I can see a double top with the Mid-June wave. If we break through that wave, then SPX 1125-1150 is in the cards, but first I'll wait for this action to play out.
 
another attempt at Dow 10400-10500 resistance. If it fails again, Dow will again drop below 10k.
 
DCguy said:
another attempt at Dow 10400-10500 resistance. If it fails again, Dow will again drop below 10k.
Click to expand...

I believe your assesment is on target. The market doesn't like to reward failure, more so on the second attempt.
 
JTH - you know I'm only playing. Nothing serious here. You do a great job with your graphs and they are appreciated. I'll just be glad when you come back to the bullish fold.
 
Birchtree said:
JTH - you know I'm only playing. Nothing serious here. You do a great job with your graphs and they are appreciated. I'll just be glad when you come back to the bullish fold.
Click to expand...

Yes friend I do, and thank you. I'm "worked up" over other things unrelated to the markets. My house will close this week and I will be debt free, including the TSP loan. Problem is I need to buy a house and I have no furniture ect. I'd rather just sleep on the floor and "suck it up" but my family is spoiled rotten by third-world standards. I've worked hard and this will be the third time I'll be debt free, and I'll be dammed if I'm going to put myself in the same drowning boat again. :mad: My wife want's to leave like 10K on the card and just pay for the furniture in cash, and I'm like what's the point in that when you're still gonna have a card to apy off regardless?

As for the markets, based on today's close, It may be time to jump back in and work towards breaking through the previous peak.
 
I knew you'd be needing furniture - that's why I own: HVT, FBR, LZB, and a few others. I also own several large home builders. There is nothing wrong with sleeping bags for awhile.
 
JTH, Congratulations on the debt free status! Feels good even if only temporary. With the economy the way it is good deals are out there on all kinds of hard goods( furniture, appliances,etc.) including the two year same as cash deals on furniture. Been seeing a lot of those advertisied lately. One other option to take some of the stress off is to rent a house furnished while you build or look for another house. Just a thought? Good luck whatever you decide!
 
craigslist it
there are alot of people strapped for cash. I think you'd be surprised.
Out here in OR area, a coworker has been buying REO's from banks. She has been going for corner lots with a single 1800sqft house, last one was zoned R-6 (six plex) 200k
She walked into it with enough equity on paper to buy her next one, zoned R-19.
Hit some banks up for their REO lists before you buy.
In the early 90's when this same scenario was rampant, we got a subdevelopment REO land only lot for 9k cash, sold it in 6 months 27.5k.
It is really worth the time to look.
Good luck, and BTW- lots of furniture with 12mo same as cash (or some really desparate 24 mo) as well.

JTH said:
Yes friend I do, and thank you. I'm "worked up" over other things unrelated to the markets. My house will close this week and I will be debt free, including the TSP loan. Problem is I need to buy a house and I have no furniture ect. I'd rather just sleep on the floor and "suck it up" but my family is spoiled rotten by third-world standards. I've worked hard and this will be the third time I'll be debt free, and I'll be dammed if I'm going to put myself in the same drowning boat again. :mad: My wife want's to leave like 10K on the card and just pay for the furniture in cash, and I'm like what's the point in that when you're still gonna have a card to apy off regardless?

As for the markets, based on today's close, It may be time to jump back in and work towards breaking through the previous peak.
Click to expand...
 
hey- I wanted to add.
With google & streetview, along with online assessment tools to narrow down the exact address that google won't pinpoint, you can literally "see" the area and sometimes accurate conditions of your desired location before hand to eliminate guesswork or odd facts.
 
crws said:
hey- I wanted to add.
With google & streetview, along with online assessment tools to narrow down the exact address that google won't pinpoint, you can literally "see" the area and sometimes accurate conditions of your desired location before hand to eliminate guesswork or odd facts.
Click to expand...

Thanks for the tips, I have been using google, but haven't figure out how to do the bank repo thing yet. Thing is San Antonio is a big city, but I'm looking in a small town and there isn't a whole lot out there to choose from in my price range & size. But I'm patient...
 
JTH said:
Thanks for the tips, I have been using google, but haven't figure out how to do the bank repo thing yet. Thing is San Antonio is a big city, but I'm looking in a small town and there isn't a whole lot out there to choose from in my price range & size. But I'm patient...
Click to expand...

Call banks in the surrounding area and ask for a REO list
Real Estate Owned
 
Boring Bonds, nobody loves them but me and my profits. ;)

Some interesting things happened last Friday on the 15 minute chart. 1 single candlestick broke below the 200MA, the 8 day channel, & the 8 day 38.2% Fibonacci level. Afterwards, prices bounced back. On the hourly chart the 50LR looks poised to break below the 200LR, but the Daily charts still look strong.

View attachment 9770
View attachment 9771View attachment 9772
 
Birchtree said:
A cool breeze of a gentle wind is calling you back to the lily pad. I know you hear the call.
Click to expand...

Thank you for the gental reminder. I have examined the charts and the price action doesn't give me enough data to justify making an exit. I do believe staying in at these levels is more than an acceptable risk. The apex of the May trend and July trend currently resides at 1066, this is the same level as the Flash Crash. If we stay above this level I am confident we will see higher price action in the future.
 
It is what it is, it's a pullback and I was lucky enough to buy at the top of the latest swing. After what appears to be our second failed test of the 50% retracement, next I look for the reaction at the 61.8% level. I'm prepard to absorb enough pain to test the 1066 flash crash, anything below that, and I may exit licking my wounds. At which point I will look for buying opportunities in my ROTH IRA & Brokerage Account.





View attachment 9781
 
IMHO today is the day one should be buying stocks. The bad news is priced in, the oil spill is better than expected and earnings are soon behind us.
 
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