Short Term Outlook

[RealMoneyIssues]

Just when I think I am getting ahead I get tossed two steps back.

kinda like NNUUT's post count?

one post forward, two posts back

 

[nasa1974]

kinda like NNUUT's post count?

one post forward, two posts back

+ 2

 

[Aireman]

I don't know why but I keeeeeeep thinking the whole thing is rigged and we are playing the game of trying to make a dollar in a market that is controlled by, by, by, by!?

The 1%? Had to say it.... :toung:

 

[Warrenlm]

missed the decimal point. 0.1%. See the tenfold progress in civilization? Europe's aristocrats were only 0.01%.

 

[clester]

Today is a good lessen on waiting for a bounce before buying. The big drop in futures will slice right through the 200 dma. I think it's Europe again and not so much the super committee. Hoping for a bounce when their markets close.

No good support below. Maybe 1175.

 

[clester]

Today is a good lessen on waiting for a bounce before buying. The big drop in futures will slice right through the 200 dma. I think it's Europe again and not so much the super committee. Hoping for a bounce when their markets close.

No good support below. Maybe 1175.

Oops. I meant 50 dma

 

[weatherweenie]

Today is a good lessen on waiting for a bounce before buying. The big drop in futures will slice right through the 200 dma. I think it's Europe again and not so much the super committee. Hoping for a bounce when their markets close.

No good support below. Maybe 1175.

Thanks for your commentary. Even though I felt like I was being left at the station, I'm glad I didn't jump in.

 

[clester]

Thanks for your commentary. Even though I felt like I was being left at the station, I'm glad I didn't jump in.

yep. Patience pays off. If we can get back to 1200 by the close that would be a good sign. I don't see us dropping much more today so a slow climb back is possible. I am also looking for a thanksgiving rally but the eu problems along with our political problems may out weigh the positives.

 

[clester]

Disappointing day yesterday. I don't see much support until 1125

We should be having a Santa Claus rally but too much political stuff and Europe, I guess.

Light volume over hollidays usually means up as well.

 

[Scout333]

Guesses on holiday investing anyone? i.e. Weds. and Friday around Thanksgiving (In Weds. and out COB Friday). Back to the lily pad. I have two IFTs to burn for Nov. Any thoughts on this very short term move?

 

[RealMoneyIssues]

Guesses on holiday investing anyone? i.e. Weds. and Friday around Thanksgiving (In Weds. and out COB Friday). Back to the lily pad. I have two IFTs to burn for Nov. Any thoughts on this very short term move?

Most people would have thought today was up, so to be honest, be careful where you put your money as the markets are in turmoil right now... G may be the safest play...

 

[Mapper]

Not making any predictions, but have to say: it isn't even noon yet.

 

[dannyboy]

Guesses on holiday investing anyone? i.e. Weds. and Friday around Thanksgiving (In Weds. and out COB Friday). Back to the lily pad. I have two IFTs to burn for Nov. Any thoughts on this very short term move?

I like to help out when I can and time allows. I'd have to go for traditional Thanks. Rally, all stocks, then be ready to exit quickly, for the Dec. 1 date history has not been good. This year has been odd, but then again most are that way.

 

[clester]

Ugly charts. Looks like we may retest the lows soon. I expect a rally in between here and there to test the 50 dma or at least a 2 day rally somewhere. No Santa rally would be a bad sign.

 

[weatherweenie]

Ugly charts. Looks like we may retest the lows soon. I expect a rally in between here and there to test the 50 dma or at least a 2 day rally somewhere. No Santa rally would be a bad sign.

Next support on the sp500 that I'm seeing is around 1155. Glad I'm on the sidelines.

 

[RealMoneyIssues]

Ugly charts. Looks like we may retest the lows soon. I expect a rally in between here and there to test the 50 dma or at least a 2 day rally somewhere. No Santa rally would be a bad sign.

I am not sure the market still has the term "rally" in their lexicon...

 

[Scout333]

Scout333, Guesses on holiday investing anyone? i.e. Weds. and Friday around Thanksgiving (In Weds. and out COB Friday). Back to the lily pad. I have two IFTs to burn for Nov. Any thoughts on this very short term move?

Sometimes getting too busy at work and missing the deadline is its own reward! Glad I missed this one. Still sitting on the lily pad.

 

[Sensei]

Europe appeared to bounce today, but is now selling off dramatically. Doesn't look good going into Friday.

 

[Warrenlm]

Even though Birchtree advised it was time to buy into the I Fund early this week, Carlyle's Sarkozy was absolutely frightening in his remarks yesterday. He said "it" (which I took to be the reckoning) was coming sooner than anyone expects. "It" would bring the debtor nations to crises that would allow Germany to extract concessions....I guess as to oversight of their economies and thus their sovereignty. In the same segment the talk about how much in a bailout fund was needed contained comments about $2T and $4T. Not feasible. But now the Treasury announces stress tests on US banks that won't be finished until sometime in January....is that how long Europe has?

 

[clester]

This may be our test of the 50 dma. 1200 is key as well. Let's see how it plays out. Seems a little wierd that everything is up big. Not sure I trust it, but maybe Santa will show up after all.