Market Talk / May 21 - 27

[Wizard]

Circuit Breaker Trigger Points:
Do the overseas markets use a system like this?
Maybe we need this system when the BICKERING gets too deep.

http://www.allstocks.com/markets/Circuit_Breakers/circuit_breakers.html

Yes. Funny there is not trading curbs when the market is going up?

 

[The_Technician]

Tech,

I responded to this on the thread learning started.............let's duke it out baby.

Yea...lets duke it out spin doctor.....we will see who is twisting what......how much u making doing this by the way.....you are a real piece of work.....

 

[Wizard]

SPX 1258 is holding. :embarrest:

 

[davtrader]

EFA retrace to 70.07 might be done...for now

 

[The_Technician]

EFA retrace to 70.07 might be done...for now

I have found that a good strategy for this situation is to let the market test its new bottoms....then get in......any rush will be swifly kicked back.....generally its a day to day situation and if you break even, you have been blessed....

 

[James48843]

Personal data from 26 million veterans stolen

news on Yahoo just now.

http://news.yahoo.com/s/ap/20060522/ap_on_go_ca_st_pe/veterans_disk

Seems somebody took home a disk that contained the names and SSN's of all veterans dischanrged since 1976, and somebody stole the disk.

Thanks, VA.

I wonder of THAT is why the market is tanking.....

 

[Wizard]

SPX 1258 is holding. :embarrest:

 

[Fivetears]

Great Wizard!

 

[tsptalk]

Below 1258 could be where the stops are sitting. Once the stops are hit we should get a temporary reprieve.

Signed - Desperately Seeking Bounce

 

[Wizard]

Below 1258 could be where the stops are sitting. Once the stops are hit we should get a temporary reprieve.

Signed - Desperately Seeking Bounce

Hugh block trade came in at 1255. PPT? :blink: That pushed SPX back over 1258.

NYSE up vol 14%

NASDAQ up vol 16%

Last hour should be of interest.

 

[The_Technician]

Right at the moment the power behind the buying still looks weak....I would expect it to pick up later on the week ......but there is still that test of the recent bottoms.....if a new bottom is made waiting for a test at that bottom would be smart......

 

[teknobucks]

buying support on recent dips has until last week done a great job of account management for my TSP.
may have to rethink my strategy............

 

[pyriel]

Right at the moment the power behind the buying still looks weak....I would expect it to pick up later on the week ......but there is still that test of the recent bottoms.....if a new bottom is made waiting for a test at that bottom would be smart......

Gee Tech, you are saying the relief could be shortlived and it could ignite a more dramatic drop.
Is there like a sign that we can watch out for like the sentiment chart and past history like Tom is showing us....

 

[The_Technician]

Gee Tech, you are saying the relief could be shortlived and it could ignite a more dramatic drop.
Is there like a sign that we can watch out for like the sentiment chart and past history like Tom is showing us....

I'm expecting some sort of a vibrating response with some positive updays...but history shows few and far between...(its really a crapshoot....just be patient with your profits....no need to feed a hungry bear)........with a continued down stroke afterwards....this thing just started and I would give it some room...there was a lot of power behind the selloff.....just look at India....10% down.....

its world wide.....you should consider it before you decide to jump in.....the whole world economy is overheated, its got to cool off ...therefore corp profits have to cool......there will be safer entry points later on...take a look at F soon for a decent return.....its going to correct alittle here over the next few days, then it should be getting right....

I have data that says we haven't seen the likes of this for at least 2+ years.....so give it room....be conservative.....last time I saw the indexs drop like this was in and after 2000- 2002....this drop is different than the recent past drops since 2003.....its severe....

Buy yuans...

 

[Wizard]

Smart money cut the dumb money off pretty bad the last 30 minutes.

Now the commodities are going up. Crude up over 1%.

The SPX 1258 support suspense must wait another day.

 

[tsptalk]

Last hour should be of interest.

If you call a 120 point rally followed by a 50 point decline, all in the last 2 hours of trading, interesting - then yes, I'd agree.

I'd say that 50 point decline was an overbought (intraday) decline. I question the smart money theory although that is a concern.

 

[FUTURESTRADER]

buying support on recent dips has until last week done a great job of account management for my TSP.
may have to rethink my strategy............

buying on dips is right tek, until 5 ema breaks 50 ema

 

[Wizard]

If you call a 120 point rally followed by a 50 point decline, all in the last 2 hours of trading, interesting - then yes, I'd agree.

Signal of a market top or bottom? Exhausted buyers or sellers.

SPX 1258 will probably not hold on the next downleg. The buy on dippers are running out of dough. Mutual funds were sitting at only 2% cash last month. They are probably at 0% now to hold this pig up.

 

[Wizard]

SPX finished up with an ugly candle.

MACD turned down.

Very oversold but who wants to try to catch this knife?

http://stockcharts.com/h-sc/ui?s=spx

 

[tsptalk]

All valid and I agree we will be lower this summer. But you just don't see carnage like this lasting too much longer than this has before you get a relief rally.