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Market Talk / October 1st - 7th
- Thread starter Spaf
- Start date
coolhand
Well-known member
Coolhand,
What nnuut said. Glad to see ya!
Thanks guys!
Maybe I'll stick around for awhile. Been lurking some, but not posting much. Spent a lot of time on Traders Talk just listening to the wall street gang. I post my moves and strategy on IHub on the TSP board that frenchee moderates. Pretty quiet there, but it suites me fine.
Birchtree
Well-known member
If all goes well today will be a profit taking day to get cash to do more selective buying - probably in the energy patch. The beauty is being bought out so I'll use the excuse to pre-empt the sale and use the money to add some wall flowers and make a contribution to the bouquet. Sell 1 and maybe buy 10. I like those odds. Breadth is the backbone of technical analysis - so give me another 3 to 1 ratio on the buy side today - thankyou in advance.
Birchtree
Well-known member
Abbey says another 100 points on the SPX to go. Whoa! Let me off this runaway steed. Too late now Bubba. You are smack dab in the center point of a third wave. If the NYSE breadth MCSUM moves above the highs of earlier this year, then that would IMHO confirm a center point third wave that could do this strength. Time to move out of congestion and gimme some of that old time momentum. The NYSE Advance/Decline line is at new highs.
Birchtree
Well-known member
I wish I could stick to the plan. I sold my CGC and bought 16 wall flowers instead of the original plan to accumulate 10 for the bouquet. You have to understand that there are so many that need to be cuddled. But if Allah is good to me over the remaining months I'll continue to add more wall flowers to the bouquet. Remember the secret of success of good gardening is in the quality of manure, especially bull manure.
Birchtree
Well-known member
Yesterday was a day of good pin action with multi-K gains, but today was excellent pin action with even more multi-K gains. It's not reflected in the action of the Dow and SPX today - but is recognizable in the Wilshire 5000, the Dow Transports, the R2K and the NYSE composite. More of them indians in play verses chiefs. Tomorrow could end up being a day that will live in infamy. We could easily rack the 12,000 level.
Spaf
Honorary Hall of Fame Member
Daily Yak
Yak, Doodles, Tea Leaves & The Tin Box
Kingdom Yak:
Pro-Yak....................................Socks rise on earnings.
Con-Yak...................................Lube rises above 60.
Jester-Yak................................Keep the lid on Krude!
Doodles:
Socks [$SPX] Closed at..............1353.22, up +3.00
Volume (CMF) (money flow).........+0.270, increasing.
Averages (MACD) (trend)............+9.454/7.905, good divergence.
............ (MACD) (Hist)..............increasing at +1.548.
Momentum (S-STO) (signal).........92.55, rising.
Strength (RSI) Overbought/sold....[70] 72.26 [30]
Lube (NYM) Closed at..................60.03, up +0.62
Oil Markers................................<70= ok, 70-75= worry, >75= panic.
Tea Leaves:
Yakndoodles..............................Green.
Tin Box:
Position....................................100% G.
Stops [$SPX].............................Alert: 1340. Trail: 1327.
The Kingdom of TSP
Daily Edition
October 5, 2006 Closing
October 5, 2006 Closing
Yak, Doodles, Tea Leaves & The Tin Box
Kingdom Yak:
Pro-Yak....................................Socks rise on earnings.
Con-Yak...................................Lube rises above 60.
Jester-Yak................................Keep the lid on Krude!
Doodles:
Socks [$SPX] Closed at..............1353.22, up +3.00
Volume (CMF) (money flow).........+0.270, increasing.
Averages (MACD) (trend)............+9.454/7.905, good divergence.
............ (MACD) (Hist)..............increasing at +1.548.
Momentum (S-STO) (signal).........92.55, rising.
Strength (RSI) Overbought/sold....[70] 72.26 [30]
Lube (NYM) Closed at..................60.03, up +0.62
Oil Markers................................<70= ok, 70-75= worry, >75= panic.
Tea Leaves:
Yakndoodles..............................Green.
Tin Box:
Position....................................100% G.
Stops [$SPX].............................Alert: 1340. Trail: 1327.
Show-me
Well-known member
But TSP closed?
grandma
Well-known member
Columbus Day, celebrated next Monday 10/9, is a Federal Holiday. TSP office is closed. ..not to be surpised they haven't posted it yet considering when I called them last week to ask why the site had confirmed an ift, yet had it posted wrong a day later, I was told, among other things, that the market doesn't close until 6pm EDT......:worried:
I don't recall them ever NOT closing on a Fed Holiday - they're office/clerical workers, right??
So we jump from Friday noon to Tuesday noon.....
http://www.opm.gov/oca/worksch/html/holiday.asp#HolidaysforFederalEmployees
http://tinyurl.com/gpllc
weatherweenie
Well-known member
The party is going to start off on a down note today: 09:06 am : S&P futures vs fair value: -5.8. Nasdaq futures vs fair value: -11.5.
Birchtree
Well-known member
That's exactly the way it's supposed to happen in a bull marked. Down in the morning and up the rest of the day with a push into the close. Time has come to bury the bears.
Preliminary data is showing that the NYSE breadth MCO and the NYSE breadth MCSUM have broken to the upside out of its 3 week congestion area. This suggests along with upside price pattern breakouts in the R2K and mid-caps that there is confirmation that the 4 year low is indeed behind us for this cycle. Time to celebrate.
Preliminary data is showing that the NYSE breadth MCO and the NYSE breadth MCSUM have broken to the upside out of its 3 week congestion area. This suggests along with upside price pattern breakouts in the R2K and mid-caps that there is confirmation that the 4 year low is indeed behind us for this cycle. Time to celebrate.
From a currency report on Marketwatch:
"Meanwhile, the market remains wary about the possibility that North Korea may conduct a nuclear test as early as this weekend."
This is the first I have heard of this and it would obviously make a big impact on markets. Anyone read anything that can put some credence on this possibility? If it's at all likely, I don't want to be stuck in the market with TSP closed on Monday.
http://www.marketwatch.com/news/story/Story.aspx?guid={4432E049-EB69-4751-B28C-F4EF12903991}&siteid=
"Meanwhile, the market remains wary about the possibility that North Korea may conduct a nuclear test as early as this weekend."
This is the first I have heard of this and it would obviously make a big impact on markets. Anyone read anything that can put some credence on this possibility? If it's at all likely, I don't want to be stuck in the market with TSP closed on Monday.
http://www.marketwatch.com/news/story/Story.aspx?guid={4432E049-EB69-4751-B28C-F4EF12903991}&siteid=
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