Mayday's Account Talk

[mayday]

Doesn't look like a double top at 1344?

http://stockcharts.com/help/doku.php?id=chart_school:chart_analysis:candlestick_pattern

Check out this candlestick pattern.

 

[GUCHI]

i wonder how long this up move will last, any thoughts?

 

[RealMoneyIssues]

i wonder how long this up move will last, any thoughts?

I honestly don't see WHY the market is going up. I am wondering if the smart money is trying to fake out the dumb money and tomorrow (or someday very soon) will be painful for dumb money...

 

[GUCHI]

sooooo in other words "TIME TO GET THE HELL OUTTA DODGE"

 

[RealMoneyIssues]

sooooo in other words "TIME TO GET THE HELL OUTTA DODGE"

I dunno, I am as dumb as they come around here...

 

[nasa1974]

I honestly don't see WHY the market is going up. I am wondering if the smart money is trying to fake out the dumb money and tomorrow (or someday very soon) will be painful for dumb money...

Let's hope it takes a week or two. Jumping to early in the month is not a good thing. Would like to keep both bullets until mid month if possible.

 

[mayday]

Guchi i wonder how long this up move will last, any thoughts?


Until it does'nt. Could hit 1350-1360 Keep your eye on the vix it is 15.45 thats low meaning not good to get in the market yet.

 

[mayday]

I dunno, I am as dumb as they come around here...

I dunno I'm pretty dumb.

 

[Birchtree]

I wouldn't worry about the low VIX unless you are a contrarian - it can go as low as 8.

 

[mayday]

Let's hope it takes a week or two. Jumping to early in the month is not a good thing. Would like to keep both bullets until mid month if possible.

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

Look at this chart nasa. It is too early to jump in.

 

[mayday]

I wouldn't worry about the low VIX unless you are a contrarian - it can go as low as 8.

Birch : You are and will always be this boards perma-bull.

 

[nasa1974]

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

Look at this chart nasa. It is too early to jump in.

Thanks mayday but I am already 100% S fund. What I meant was with only 2 IFT's you really don't want to use one too early in the month. I guess that could be taken as jumping in or out. :nuts::nuts:

 

[mayday]

Thanks mayday but I am already 100% S fund. What I meant was with only 2 IFT's you really don't want to use one too early in the month. I guess that could be taken as jumping in or out. :nuts::nuts:

Why then you made some big bucks today. Good for you.

 

[nasa1974]

Why then you made some big bucks today. Good for you.

Thanks. I have to be smart this month. Last June I lost almost 8%. Sure don't want to go through that again. Hoping for a couple of positive days early and I may jump into the G fund.

 

[eccougar]

Thanks. I have to be smart this month. Last June I lost almost 8%. Sure don't want to go through that again. Hoping for a couple of positive days early and I may jump into the G fund.

I lost big in May and June of last year and was in negative territory at 1st of July.

 

[mayday]

I'm staying on the sidelines waiting for an opportunity to enter this crazy market that has been propped up by government paper.
$VIX is down meaning ther is no fear. I would say a bubble is looming it is inevitable. You can't borrow your way out of debt.

My take on what lies in the short term Dow will break down below 12500/ SPX will break down below 1350 and then probably rise to within 1360 and stay within that range.
Medium term is up in the air. Passing the debt ceiling and significant cuts in the budget. Also the FED doling out more quantitative easing.

 

[mayday]

If QE3 does'nt happen this market is not going to look pretty.

 

[JTH]

If QE3 does'nt happen this market is not going to look pretty.

Let's see what the real price is, not the inflated QE2 price. My dollar doesn't stretch as far as it did a year ago, I pay more for food, gas, utilities, everything, so why should I think the the prices of stocks are fairly valued?

 

[mayday]

Let's see what the real price is, not the inflated QE2 price. My dollar doesn't stretch as far as it did a year ago, I pay more for food, gas, utilities, everything, so why should I think the the prices of stocks are fairly valued?

They aren't they are artificially papered over.

 

[JTH]

They aren't they are artificially papered over.

I agree the question then becomes what is the fiar value? I'd rather take a drop in stocks, as long as it means my dollars gain more buying power.