nasa1974's Account Talk

[nasa1974]

Market opens up and then takes an immediate nose dive.

 

[crws]

Market opens up and then takes an immediate nose dive.

Isn't that the contrarian acknowledgment of all the good news and profitability!??
Just another sketchy day on the Dow.

 

[nasa1974]

What the heck did Bernanke say. The market just fell 1%.

 

[WorkFE]

"unusually uncertain"

Words like that will do it every time.

 

[Tsunami]

Apparently the words "unusually uncertain" was all it took to spark a 150 point plunge. It shows how fragile things are. But that plunge also created a nice wave c to complete a nice looking wave 2 pullback from today's open, so now it's either ready to take off in a wave 3 up....or not.

As of this moment, it barely held support as shown by Daneric in this chart:

http://2.bp.blogspot.com/_TwUS3GyHKsQ/TEYKl7pGLkI/AAAAAAAAGfE/lhNblZNgq7E/s1600/spx1.png

 

[nasa1974]

One step forward (if your lucky) and two steps backward (more like 3, 4, 5 or more). Gave back more yesterday than I made Tuesday.

 

[nasa1974]

Some of you that are smarter than me are saying the market is setting itself up for a rocket ride. Hope you are right. I would be happy with a sub-orbital flight right now.

 

[WorkFE]

I just want the flight to last past 4PM

 

[nasa1974]

We have liftoff. T-minus 6 hours and counting.

 

[WorkFE]

I repeat:

I just want the flight to last past 4PM

 

[nasa1974]

Let's assume that the market will close where it is currently. Which Friday will show up? Just wondering.

 

[WorkFE]

Taking your assumption.
A red day would mean more of the same (up,down)
A green day could cause a significant uptrend on hopes of bullish confirmation.

 

[Birchtree]

If this is the initial thrust taking us back to the April high - Friday could easily be another big up day. Deep corrections (16%) often mean big rallies. Earnings are very nice and foward guidance is mostly positive.

 

[Elgallo]

.....Earnings are very nice and foward guidance is mostly positive.

And top line rev. is there albeit modest of nature. SNORT!

 

[crws]

It will all depend on this, scheduled for tomorrow's release after the close of the European Markets. So GMT -5 for the East Coast:
http://www.guardian.co.uk/business/2010/jul/22/european-banks-stress-tests


European banks prepare for stress tests

Country-by-country guide to the banks facing scrutiny by the Committee of European Banking Supervisors


This a nice pic- Slovenia has been expected to need funding all along, btw.

Slovenia's capital, Ljubljana. The country's PM said its biggest bank would fail the EU stress tests. Photograph: Bob Krist/Corbis

If this is the initial thrust taking us back to the April high - Friday could easily be another big up day. Deep corrections (16%) often mean big rallies. Earnings are very nice and foward guidance is mostly positive.

 

[nasa1974]

Interesting how after yesterdays selloff that today shot almost straight up at the opening bell and then traded almost flat all day. :suspicious: What are we being setup for tomorrow? :worried:

 

[nasa1974]

Today looking to be very interesting. Get your sticky pants on and grab the safety bar I think we are in for a bumpy ride.

 

[nasa1974]

If and that is a big IF I can see a 2% profit today and Monday (anything is possible) I will be on the positive side of the tracker for the first time since June 3rd.

 

[nasa1974]

The S&P 500 can't make up its mind. It is bouncing off yesterdays close like a ping pong ball. Hopefully the last bounce takes closer to 1100 than 1090. Good luck all.

 

[nasa1974]

67 member IFT's this week. That is around 15% of those in the tracker. Some double moves, but surprising none the less.