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Show-me Account Talk
- Thread starter Show-me
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Gumby
Active member
ContrarianJeff
Member
Glad you made some $$ on your SKF trade. I've been in and out of XLF and SKF for a while in my trading account and done pretty well. I bought in SKF again yesterday at $115.35 and I think I'm just going to let it run this time. If it breaks under $109 then I'll sell. But I think this up move may be a substantial one and I don't want to leave a lot on the table like I've been doing lately.
love-to-bike
Member
I'll say! Especially since it is now trading around $119:nuts:Good trade!
Show-me
Well-known member
Well lookie there, if we finish up today that will make a very nice bottoming candlestick. Nice long tail.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p41548505321
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p41548505321
Frixxxx
Moderator
If you're trading, you're on the inside....If your not, You are on the outside. Financial institutions have the wonderful good 'ole boy network. They share info so that the little guy takes the brunt of these swings. Just remember that the lobbyists have the ears of our politicians. Those lobbyists get paid by big business. Those big businesses have investments out there...of course they have inside information! Or they just have stronger indicators than us.Just heard that our government may be bailing out FRE and Fannie. I guess that's why the rally. How did they(traders) know. Seems like insider trading!
Corepuncher
Well-known member
Just heard that our government may be bailing out FRE and Fannie. I guess that's why the rally. How did they(traders) know. Seems like insider trading!
On the contrary, although Fannie was up 10% during the day, it is now, as I speak, down 25% after hours!
luv2read
Active member
If I may...I believe this is why the AGG dropped and money went into stocks.
http://www.tsptalk.com/mb/showpost.php?p=178795&postcount=1432
I still believe something is up with BlackRock, Fannie Freddie and Lehman.
http://www.tsptalk.com/mb/showpost.php?p=178795&postcount=1432
I still believe something is up with BlackRock, Fannie Freddie and Lehman.
Show-me
Well-known member
Well, well, well, what a nice hammer on many charts. We NEED conformation to support a bullish trend reversal. When I saw the deep open I was thinking that this could be a good sign for a hammer. Classic low open only to climb higher. It has become quite common to signal rallies to come. It MUST confirm on Monday with a higher candlestick.
The Hammer is a bullish reversal pattern that forms after a decline. In addition to a potential trend reversal, hammers can mark bottoms or support levels. After a decline, hammers signal a bullish revival. The low of the long lower shadow implies that sellers drove prices lower during the session. However, the strong finish indicates that buyers regained their footing to end the session on a strong note. While this may seem enough to act on, hammers require further bullish confirmation. The low of the hammer shows that plenty of sellers remain. Further buying pressure, and preferably on expanding volume, is needed before acting. Such confirmation could come from a gap up or long white candlestick. Hammers are similar to selling climaxes, and heavy volume can serve to reinforce the validity of the reversal.
The Hanging Man is a bearish reversal pattern that can also mark a top or resistance level. Forming after an advance, a Hanging Man signals that selling pressure is starting to increase. The low of the long lower shadow confirms that sellers pushed prices lower during the session. Even though the bulls regained their footing and drove prices higher by the finish, the appearance of selling pressure raises the yellow flag. As with the Hammer, a Hanging Man requires bearish confirmation before action. Such confirmation can come as a gap down or long black candlestick on heavy volume.
Thanks for the evaluation and the graphics. It really puts today in
perspective based on past Technical Analysis. I was wondering the
same thing this morning, when I saw the (S) down nearly -3.50%,,
only to find it -1.17% around the deadline for IFT's. Have a great
weekend and I'll be watching for confirmation come Monday.
Would that constitute a possible Correction of 20-25% (the bottom)?
Show-me
Well-known member
I wish it would, but I don't know. It would make a nice double bottom. It is a high probability trade to go higher. There is a large number of folks that would like for it to rally until election time on both sides of the isle. After that it is the next guys problem and I would expect a big fall.
Christmas and the Retail outlook will weigh towards the end of October.
I hope that both sides of the Isle get their wish. It coinsides with ours!
Show-me
Well-known member
CB, I know what you are saying.
And no one will investigate. They are all in it together at tax payers expense. Bastards.
Thanks Jeff, I was scared thats all.
Aftermarket 106.
Just heard that our government may be bailing out FRE and Fannie. I guess that's why the rally. How did they(traders) know. Seems like insider trading!
See above, they are all in it together. I find that they are all related or friends no matter what party they are. They, the politicians and traders, are all in it together. Politicians effect the market dynamics while the traders make the trades and slip a little campaign contribution the way or the politician. Grease'n the wheels of progress.
If you're trading, you're on the inside....If your not, You are on the outside. Financial institutions have the wonderful good 'ole boy network. They share info so that the little guy takes the brunt of these swings. Just remember that the lobbyists have the ears of our politicians. Those lobbyists get paid by big business. Those big businesses have investments out there...of course they have inside information! Or they just have stronger indicators than us.
Ditto, big time!
How can we bail out two GSE that hold $5 trillion in debt when we are $1 Trillion in debt? Print, print, print. The Chinese are getting nervous. Their central bank is having cash flow problems. Scary stuff on the news about how much of their balance sheet are in US equities including FRE and FNM.
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