Market Talk

[Skip]

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What a pull back... support held and I got back in at the close today...
Of course that means we go down from here....
sp500 off 1.5% today..... I saw a little buying at the end so this might hold...
1177.82 was what I had for support closed at 1177.80
45%c 45%s 10%i
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[robo]

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Some comments from a Tech:

Volume was huge today and may be telling us that the markets are very nervous and irrational. Tomorrow is options expiration and we are going to have to stay in cash until we see if the selling continues. My guess is that the market will be steady to up as put options sellers try to recoup some of today's paper losses. We may not know what directionthe trendis going to move into next, until Monday afternoon.

We areon aCashSignal at the moment and need to stay there until the Big Players get this train moving in one direction or the other. If we get capitulation selling in the next few trading days, then an inevitable bounce of great magnitude could occur. The most recent multi-week trend has been down, but may be bottoming here. If you decide to go long or short at this point, you are not following a trend, you are trying to predict it! As trend followers, let's get on the train after the direction is clarified. Remember, we don't always have to be in the market (long or short).

Stay in Cash. We will advise if we see something new tomorrow.

 

[robo]

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Skip wrote:

Of course that means we go down from here....

I put money in the S&P today also, and will ride it down from here no matter how painful. I have some additional cash to add next week, but I hope the 1170's hold.

Down to 1150's in morning trading, and a rally to 1195 in the afternoon would be okay if the market just has to go lower! Next week it could play out!

 

[Skip]

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robo wrote:

Skip wrote:

Of course that means we go down from here....

I put money in the S&P today also, and will ride it down from here no matter how painful. I have some additional cash to add next week, but I hope the 1170's hold.

Down to 1150's in morning trading, and a rally to 1195 in the afternoon would be okay if the market just has to go lower! Next week it could play out!

The line is drawned in the sand..:^. Got a GREAT entry point today and going to hold on...
lets hope the weak hands gave up today...
Skip

 

[Birchtree]

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It's starting to get crowded down at the bottom of this well - but misery always enjoys a little company - so welcome to the house of pain. Any way, the futures are looking fine this AM so perhaps today is a come back day. It's time to start buying myself into happiness. Take care,

Dennis-perma bull #2

 

[teknobucks]

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i agree.....

markets saturated with bad news....buy and hold.

:^

 

[JOVARN]

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AP
Dollar Down, Gold Mixed in Europe Trading
Friday October 21, 7:14 am ET

LONDON (AP) -- The U.S. dollar fell Friday against other major currencies in European trading


AP
Japan Shares Rise for Second Straight Day
Friday October 21, 7:32 am ET



Japan Shares Rise for Second Straight Day Despite Concerns of Rising U.S. Interest Rates

AP
Stocks to Open Higher on Earnings Reports
Friday October 21, 8:11 am ET



Dow, Nasdaq Set to Open Higher Thanks to Positive Earnings Reports From Google




Looks like we may have a good day today.

 

[FUTURESTRADER]

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EFA close 54.72...B55.04 A55.39 8:58 est for what it's worth

 

[robo]

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Some comments from a Tech:

The S&P 500 is establishing a new wider trading range which completely encompasses the prior support/resistance band between 1190 and 1194.90. It managed to close above the low reached last week at 1176.84, and it failed to exceed the reaction high at 1195.90 that it reached on October 7. We'll soon know if these extremes are of any significance, but as the lower horizontal clearly demonstrates, 1177 has been pivotal since late last year.

 

[robo]

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Some comment from a Tech:

Friday 10/21/05 Morning Comment

The dichotomy betweenthe Dow and the Nasdaq is increasing. This is what happened a year ago, with the Nasdaq getting stronger as the Dow was getting weaker until the final lows were in. Are we seeing history repeat itself?

The A/D has been bouncingbetween positive and negative without a trend from one day to the next makingVST analysis very difficult. However, the longer term patterns continue to improve as they lean more and more toward an a-b-c-d-e formation making up the "C" wave of the correction.This would be the shorter channel within the larger channel on the chart which you received yesterday. A drop to about 1155/60 SPX next week would complete the pattern and set up the conditions for a good rally.

How we close at the end of the day is anyone's guess at this time.

 

[robo]

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Closing Comment

I will keep on focusing my short-term analysis on the completion of the "C" wave which is in its final stages. As stated this morning, a dip to 1150/60 would be perfect, because now the daily indicator patterns have moved into an ideal position to denote positive divergence during the final low. Right off the top of my head, this could come as early as next week.

Breaking out of the shorter channel (wave "C") would then ensue, and perhaps even out of the larger channel, then afinal pull-back into mid-November/early December -- but probably not a new low -- in conjunction with the 20-week and the 9-month cycles lows.

I'll talk about all that in this week's newsletter.

I'm glad this week is over!:X To all in the path of Hurricane Wilma in the Flordiaarea pleaseTake-Care and God Bless! Prayingit weakens before hitting your Great State........

 

[Skip]

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Question ? Has anyone seen the dow down 65 points and the sp500 up before ?

Will look at the stocks and report back later ...
Weird....
Skip

 

[robo]

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Skip,

I think it was just a couple ofcompanies that got hammered and brought it down.

 

[Skip]

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robo wrote:

Skip,

I think it was just a couple ofcompanies that got hammered and brought it down.

looks like to was the drug stocks merk and pfe phizer... also intell and cat was the big loser...
the s fund and the I fund rose more than the c fund today.....
c= .02 s= .15 i= .06 cents...

we were lucky to get the 2 cents from c....
just when I left the f fund it pays 2 cents.... lol
Skip

 

[Skip]

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Here is why the dow went down today and the sp500 up....
Persistent worries about inflation and higher interest rates, which helped drive stocks down sharply on Thursday, also weighed on the Dow. Shares of major drug companies, including Pfizer Inc. and Merck & Co. , declined in Friday's session as the sector faces generic competition and legal concerns about key medicines.


Caterpillar, one of the biggest U.S. manufacturers, accounted for nearly all of the Dow's drop. Caterpillar shares lost 9.5 percent to $48.92 on the New York Stock Exchange.



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[Show-me]

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I made money on a day the I should have lost. LOL! Love that I fund “fair valuation”!!! The I fund is up .4%.:^

One thing is for sure it (I Fund) will take it back.:shock:

 

[Show-me]

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Skip wrote:

Caterpillar, one of the biggest U.S. manufacturers, accounted for nearly all of the Dow's drop. Caterpillar shares lost 9.5 percent to $48.92 on the New York Stock Exchange.

Ugh! I was thinking of buying some a few weeks ago.

 

[Skip]

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Show-me wrote:

Skip wrote:

Caterpillar, one of the biggest U.S. manufacturers, accounted for nearly all of the Dow's drop. Caterpillar shares lost 9.5 percent to $48.92 on the New York Stock Exchange.

Ugh! I was thinking of buying some a few weeks ago.

Check out the above post Show-me... I posted a graft from visual trader..

The big leg down is CAT....

Skip

 

[Skip]

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Dow 30 signals

 

[Greg]

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Month-To-Date Returns for October (since 09/30/2005)
G-fund0.27%
F-fund-0.09%
C-fund-3.92% :s
S-fund-4.54% :s
I-fund-5.03% :s

Last Week Returns - Oct 14-21
F-fund0.47%
S-fund0.20%
G-fund0.09%
C-fund-0.55%
I-fund-2.90% :s

YTD Returns (since 12/31/2004)
I-fund3.68%
G-fund3.56%
S-fund2.72%
F-fund1.73%
C-fund-1.24%

L-funds Return since 08/01/2005 - Date that L-funds were started
L2040-2.35%
L2030-2.05%
L2020-1.58%
L2010-0.94%
L-Inc0.00%
G Funds1.00%