Poolman's Account Talk

Sort by newest Sort by date
We are trading in a wedge formation right now. The S&P is showing support at 820. The wedge was formed to the downside and that usually indicates the direction of the breakout.

I've been trying to figure this out. Last week, The day before the job's report the market's ended down. The day of the job's report the market's also ended down.

I'm just throwing info out that I'm researching. :confused:

Now I have a Migraine Headache.
 
Anticipation of another very negative jobs report with all the other negativity may be enough to push the market lower.

I'm not stressing now I've pretty much made up my mind I'm out until I see what I think is a nice opportunity.

Looks like there were plenty of buyers at 820 on the 1st test.

Take care Poolman, thanks for the videos.
 
FUTURESTRADER said:
that Charles Nenner character was calling for a 15% rise into mid march
Click to expand...

I was hopeful about Nenners' spring 09 rally prediction until I watched that Dec 07 Video. Who knows it would be nice if he was right. He thinks it (rally) will start sometime next week.
 
Some of you guys are starting to see where I'm coming from.

Here's a small piece of todays' analysis I follow:

"Last time, I said that it was and is easy to be a confident Bear (who's not aware of all the nasty problems we've got?). I figured that that's when we need to be more Bullish. The polls including TSP talk's early reading at 58% Bearish, are all generally supportive of higher prices. The Nasdaq has confirmed an IT Buy on breadth, but price has a bit more work to do. The S&P long-term stochastic is flashing a low quality buy, but that could easily improve too. All of this sets the stage for a huge rally. It isn't a lock and it is still quite early, but somewhere in here, we're going to take off. The type of stimulus that they are talking about is huge. This is on top of the refi's that are already working their way through the snake. I need better volume and some more confirmation but if I get it, I'm going to be pounding the table."
 
Looks like we are trading everywhere within the wedge. We get the Big jobs report tomorrow. I'm not going to get in front of this.

Stimulus plan is still up in the air as far passing the way Obama will want it. I believe this narrow trading range will continue until the bottom is tested.

It's not worth my money to trade within a 350 point DJIA range 7850 - 8200. The market is struggling for direction.

frogpool.gif
 
Last edited:
It looks like word leaked out that there might be a stimulus plan package vote today.

We will see.
 
poolman said:
It looks like word leaked out that there might be a stimulus plan package vote today.

We will see.
Click to expand...

Great, another bear rally built on hope.....is anyone keeping track of the market indicators any more?

626K jobs lost
factory orders down 3.9%

I don't see the promise of a "bad bank" and a stimulus package only creating ~600 jobs a stimulus. Obama wants taxes to go up:( and this won't "stimulate" anything but angry voters.

I have kids, and sometimes they had to burn their hands to learn fire does that. I feel like the gov't isn't learning anything and they're getting ready to throw gasoline on a fire before they stick their hand in it.:blink:
 
Frixxxx said:
Great, another bear rally built on hope.....is anyone keeping track of the market indicators any more?

626K jobs lost
factory orders down 3.9%

I don't see the promise of a "bad bank" and a stimulus package only creating ~600 jobs a stimulus. Obama wants taxes to go up:( and this won't "stimulate" anything but angry voters.

I have kids, and sometimes they had to burn their hands to learn fire does that. I feel like the gov't isn't learning anything and they're getting ready to throw gasoline on a fire before they stick their hand in it.:blink:
Click to expand...

That is what happens when you mix inexperience with tax cheats:D
 
poolman said:
It looks like word leaked out that there might be a stimulus plan package vote today.

We will see.
Click to expand...

As long as word doesn't penetrate or close above 850ish, I can sit here and watch from the sidelines all day long. :)
 
Looting is the best analogy I've heard of what's going on.

"never let a crisis go to waste"
Rahm
 
I hear what Schiff is saying and agree, however every other major economy in the world is also printing money, lowering interest rates, injecting liquidity and guaranteeing assets. Won't that tend to minimize deflation of the value of the dollar if all the other currencies are doing the same thing??
 
I'm going to follow up my post here yesterday with one more today, but I won't do it again. Sorry for hijaking your thread poolman, but I have a reason for that. I think you'll like the post anyway. :D

From my daily analysis:

"Last time, I said that the Nasdaq had confirmed an IT Buy on breadth, but price had a bit more work to do, and the S&P long-term stochastic was flashing a low quality buy, but that it could easily improve too. Well, both improved. We've got a Buy on the S&P that needs a tad of confirmation and the Nasdaq is confirmed. I think it is still quite early, but we need to respect the market. I heard all type of folks talking about complacency. I don't know about you, but I'm not at all complacent about this market. I can see the money and I can see the set up. I believe it. But I'm STILL nervous as a cat. You're likely to hear about the low CBOE P/C ratio. That is NOT a sign of complacency. This is a sign of folks risking less money on calls because they're afraid to commit more money to actually own the stocks. It's actually pretty rational, too. It's not Bearish, however. Now, there may be more work to do, but my charts suggest higher prices on any strength here today. My big worry is the jump in ISEE. We may get some volatility."
 
You must log in or register to reply here.

Similar threads

UNIX84
UNIX84 Account Talk
Replies
15
Views
3K
UNIX84
UNIX84
tsptalk
  • Article Article
TSP Talk - The Fed sounds a little hawkish, and earnings were mixed
Replies
0
Views
251
tsptalk
tsptalk
tsptalk
  • Article Article
TSP Talk - Another strong open fades quickly
Replies
0
Views
295
tsptalk
tsptalk
tsptalk
  • Article Article
TSP Talk - The Grinch has taken over the Santa Claus rally
Replies
0
Views
308
tsptalk
tsptalk
tsptalk
  • Article Article
TSP Talk - The downside continued, but the bulls gave it a shot
Replies
0
Views
348
tsptalk
tsptalk
Back
Top