Poolman's Account Talk

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The attempt to rally the market failed does not thus far look to be working. They tried the old gap up with the futures trick again and all it did was give a better level to short from. I would have to assume that it is the Government trying to rally the markets in Futures trading.

RUT is lower than Friday now which means more to go.

10:01 AM Dec. Existing Home Sales: -16.7% to 5.45M, vs. expectations of 5.78M. Months supply rises to 7.2

I will stay 100% G fund today. No Change !
 
It appears that S&P 1102 - 1103 is still resistance and until that is broken we could still see more downside.

Holding 100% - G.
 
poolman said:
It appears that S&P 1102 - 1103 is still resistance and until that is broken we could still see more downside.

Holding 100% - G.
Click to expand...

We keep bouncing off that resistance too, but the markets holding up. I wouldn't be surprised if we close above it and trap some bulls tomorrow. :rolleyes:
 
coolhand said:
We keep bouncing off that resistance too, but the markets holding up. I wouldn't be surprised if we close above it and trap some bulls tomorrow. :rolleyes:
Click to expand...

Market's are holding up well today. If we do close above 1103 that will be very Bullish for tomorrow.

Market's are bumping it hard to try and breakthrough. This so far is a low volume day also.

I hope you get some gains today. :D

Pretty doomy forecast below. Don't watch if your worried.

http://www.youtube.com/watch?v=pRd33N55ELA&feature=sub
 
poolman said:
Market's are holding up well today. If we do close above 1103 that will be very Bullish for tomorrow.

Market's are bumping it hard to try and breakthrough. This so far is a low volume day also.
Click to expand...
We have a bullish "outside day" on the S&P right now, but it must close near the highs to be effective. If we sell-off late today and close near the lows, that would be a game changer.
 
tsptalk said:
We have a bullish "outside day" on the S&P right now, but it must close near the highs to be effective. If we sell-off late today and close near the lows, that would be a game changer.
Click to expand...

We had a set-up for a good bounce, but so far it's been good only if you're a day trader. At this point it hasn't been worth chasing for TSP. And like you said, if we close towards the lows that's not a good sign. Especially with bullish levels rising.
 
coolhand said:
We had a set-up for a good bounce, but so far it's been good only if you're a day trader. At this point it hasn't been worth chasing for TSP. And like you said, if we close towards the lows that's not a good sign. Especially with bullish levels rising.
Click to expand...

I think you made a good play. It was definitely a Day-Trade and it is month end and you still had your IFT'S. I personally didn't see the move yesterday worth chancing it.

A gain is a Gain Though.

The day is not over yet and I see the Bull's running out of steam. :notrust:

http://www.youtube.com/watch?v=WZ0WLv5G_oU&feature=sub
 
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