Nordic's Account Talk

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Daneric's outlook

As for Ellioticians, this is what Daneric is looking at to finish wave [v] sometime in October. With our limited EFTs, I would probably hold off on trying to catch a minor upwave and focus on buying in near the end of wave [v], but that's just me. Too difficult to accurately guesstimate these minor upwaves in this bear market. I'd be surprised if things played out exactly this way, but inline with Uptrends's call of a 1060ish low, that might be a good target to consider for reentry.

http://3.bp.blogspot.com/-UhpFHZNc8VI/Tnuo5S0WcNI/AAAAAAAAJ2Y/d8l4ROZqexc/s1600/spx60.png
 
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Re: Don't shoot the messenger

I haven't paid attention to those fools in 25 years - no need to start now. All this gloom and doom is exceptional for golden prices - that's all I want.
 
Re: Don't shoot the messenger

What reason would keep the Dow from falling to 1000?.........Obismal to chicago while Hermain Cain comes to DC. Watch the markets soar for months on the anticipation of Obismal's defeat.
 
Bullish

"If my analysis is correct, we should see a rally that could last until the end of the year. If this is the case, I will look for signs that it is time to get into either mid- or small-cap stocks, but it is too early to tell now."

http://money.msn.com/stock-broker-guided/article.aspx?post=dd04fb7c-40f2-4215-a689-9139b87b93e4


There's still a good chance we'll see some consolidation in the coming weeks, but I got fully invested in stocks on Friday anyway. Charts are setting up for a decent bull run into the end of the year, and I don't want to be glued to the monitor every day waiting for the "perfect" entry point....just going to roll with it and see how it shakes out. 50C/50I
 
waves

I was planning on staying fully invested in equities through the end of the year, but meteoric days like today move us toward likely downside action at a faster rate than what I was expecting. Fib. level resistance are not far off, so it will be tempting to sidestep the next drop (Minor 3) once we reach the top of Minor 2. Seasonality makes it really tough to pull the plug, but being overbought at these levels may make the decision a bit easier. Tough call coming up.

SPXDAILY.png
 
Bah Humbug

"I continue to maintain, as I have for weeks, that October 27 marked a significant long-term top in the markets. If my preferred count is correct, the stock market will probably not see these levels again for a long time. I believe that the next leg (after the obligatory bounces) will take the S&P 500 (SPX) down into the 1000-1050 range. From there, I would expect one last marginal bounce before the market crashes for real (e.g.- 2008). The intermediate picture is roughly sketched into the chart below:"

http://www.minyanville.com/businessmarkets/articles/elliott-wave-theory-elliott-wave-spx/11/18/2011/id/37987?camp=syndication&medium=portals&from=yahoo

 
Re: Bah Humbug

When I was young and in Vietnam I would get the green apple quick step when ever duty called - it takes a lot to raise my fear levels these days.
 
Re: Bah Humbug

Birchtree said:
When I was young and in Vietnam I would get the green apple quick step when ever duty called - it takes a lot to raise my fear levels these days.
Click to expand...
I think you misunderstand... it isn't fear, it's just being on the right side of the market when it goes up... or down...

Post 1992, almost to 2000!!
 
naughty or nice?

"Bottom Line: The market just failed a test by breaking down out of the triangle formation, but the technical damage is not serious, and a decline to the 1175 area to clear intermediate-term overbought conditions could be absorbed without major technical damage being done. On the other hand, if the ultra-short-term oversold spikes have produced sufficient internal compression, yesterday's breakdown could prove to be the final shakeout preceeding a new rally. In any case I view the recent decline as a correction within the rally that began in October."

http://blogs.decisionpoint.com/char...ra-short-term-climaxes-attract-attention.html
 
Re: naughty or nice?

Nordic said:
"Bottom Line: The market just failed a test by breaking down out of the triangle formation, but the technical damage is not serious, and a decline to the 1175 area to clear intermediate-term overbought conditions could be absorbed without major technical damage being done. On the other hand, if the ultra-short-term oversold spikes have produced sufficient internal compression, yesterday's breakdown could prove to be the final shakeout preceeding a new rally. In any case I view the recent decline as a correction within the rally that began in October."

http://blogs.decisionpoint.com/char...ra-short-term-climaxes-attract-attention.html
Click to expand...

Thanks I needed that.:)
 
more bearish news

"Now, after trading quietly in a holding pattern over the past few weeks as Europe has burned, U.S. equities are plunging out of technical consolidation on big volume and deeply negative breadth -- a sign of overwhelming selling pressure that's likely to continue over the medium term."

http://money.msn.com/investment-advice/article.aspx?post=9e8bca86-4f70-449d-92e1-3daf7b0837d7


Dammit, I'm starting to feel like a permabear :suspicious:. This market is killing my mojo. Where are my Birch-colored glasses.....
 
Nice, but...

Yesterday was a decent day to jump back into the equity funds, hopefully for the rest of the month. However, be on your toes as that right shoulder starts to roll over....she's gonna be a doozy on the next wave 3 down.


"Wilshire weekly shows the really big picture so we don't lose sight that this is all borrowed time in my opinion.

THE BOTTOM LINE:
Minor 3 down is lurking around the corner. We are getting there."

http://danericselliottwaves.blogspot.com/

 
China

Another log on the bear's fire...

"The reason is that last night, a 6+ year triangular pattern was showing that its support was breaking to the downside. The implications are that the Shanghai could have a huge down draft if it doesn't recoup in the next 24 to 48 hours. So, maybe it is time for China to go on your watch list."

http://www.stocktiming.com/Monday-DailyMarketUpdate.htm
 
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