JTH's Account Talk

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trans came in better than i thought it would today. I hope it is a leading indicator again but am ready to bail quickly.
 
Mcqlives said:
trans came in better than i thought it would today. I hope it is a leading indicator again but am ready to bail quickly.
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Markets did very well, we can make an argument that momentum is waning, but who give a sh!t if you're making money, that cancels everything else out. Tran has a lot of room for growth, but is hindered at the moment. Good news is that the NASDAQ 100 has been picking up the slack, and small caps pushed higher too.
 
Trannies are playing the same game that the S&P played back in January. That is, going up and down like a yo-yo in a rectangular(ish) box. PPO and Stoch look like they are primed to ramp up tho, so that's a positive sign. Rising oil prices may put a damper on profits, but that may already be priced in.

Loving the fact that the QQQ, the Nasdaq and the Industrials are all at (or near) new 52 week highs.

Utilities are just beginning a basing process after getting battered by rising interest rates.

Overall, I'd say things look pretty good at this point, and I'm staying the course.
 
JTH said:
___
Evening folks, for AGG

While today did give us some significant gains, as of this moment, this was an oversold bounce and a fairly typical one at that. Hence, I see no signs of a bottom for AGG just yet. What we did get was a bounce off the bottom of the descending parallel price channel, a rejection at 50% of the previous AB wave, and a topping-style tail. Having only drawn this chart this morning, I did not know the A bottom was going to make a run for the upper trendline, but once it got there, I did believe this is where the rejection was likely to take place. The Topping tail in this exact area was the "nail in the coffee"

View attachment 32505
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No I want to disagree with this, but I won't.
 
Bquat said:
No I want to disagree with this, but I won't.
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It's ok to disagree, if you see something I've overlooked, you should point it out or feel free to add to it. We could speculate the forming of a bull flag, but without a confirmed close over the channel & 50% retrace, I'll wait to see how tomorrow's action transpires.
 
JTH said:
It's ok to disagree, if you see something I've overlooked, you should point it out or feel free to add to it. We could speculate the forming of a bull flag, but without a confirmed close over the channel & 50% retrace, I'll wait to see how tomorrow's action transpires.
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I should of said I would like to disagree but I don't.:D But I do have to say there's a 55/45 chance that we can go up because we're at dead cat bounce area and it may have held as support. I will guess but I could be right, no? This is a critical level, yes? My trend line of lower highs is broken:
 
Bquat said:
I should of said I would like to disagree but I don't.:D But I do have to say there's a 55/45 chance that we can go up because we're at dead cat bounce area and it may have held as support. I will guess but I could be right, no? This is a critical level, yes? My trend line of lower highs is broken:
Click to expand...

Bquat and JTH, this is very, very technical and both of your charting is right where a pivot of some sort could be at hand. I don't know for sure, but perhaps the Greece and Ukraine just before the weekend might take center stage and could be the final push one way or the other. I noticed that JTH drew a 30 minute chart, and Bquat drew a 2 hour chart. How do you reconcile both ideas? Tia.
 
airlift said:
Bquat and JTH, this is very, very technical and both of your charting is right where a pivot of some sort could be at hand. I don't know for sure, but perhaps the Greece and Ukraine just before the weekend might take center stage and could be the final push one way or the other. I noticed that JTH drew a 30 minute chart, and Bquat drew a 2 hour chart. How do you reconcile both ideas? Tia.
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Usually, the type of trade I am putting on will dictate which timeframe to use. I have a preference for candlesticks which finalize at the end of the day, which is why the 30-Minute timeframe is my favorite. If I want to look out past 10 days, then I tend to use larger timeframes, I could use larger pictures but then I couldn't post them here in the forum or blogs.
 
Just a brief reminder, for SPX the last 4 Thursdays have closed up, who wants to make it 5?
 
soon2retire said:
Here's another!

http://finance.yahoo.com/news/low-wage-growth-led-deflationary-160641352.html

Deflation, Inflation, or Flatulation, your


Gotta like the NASDAQ carrot the market is handing us here...been strong all day.
With that said, to me the market is actually saying...ALERT...Get Out. My desire is to be in which
is also a red flag...so...be careful out there! Still have to like this pause here...maybe about to take
another leg up. In the end....I like cheerleading from the sideline here...good luck to the herd!
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Sure wish that I had listen to the person who siad, "I should have sticky pants and leave my money in S and I, vice moving to F with on vacation for a week". Any how, I am back and Mexico (Cozumel) was great. However, on the way back we got stuck in Baltimore Washington International (BWI) for 2 days due to the weather. No hotels available, had to sleep and hang out at the Airport. Oh Boy Oh Joy! That sucked!
 
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