tsptalk's Market Talk

[tsptalk]

Gap filled. I feel better now. All is right in the world again.

 

[Minnow]

Gap filled. I feel better now. All is right in the world again.

My eyes may be getting bad, isn't there another gap down there in the 1217 area?

 

[JTH]

Not much working today, bonds/gold flat, ck out the dollar's spike in volume...

 

[tsptalk]

My eyes may be getting bad, isn't there another gap down there in the 1217 area?

Sshhhh! I was trying not to think about that one. :684:

 

[Minnow]

Sshhhh! I was trying not to think about that one. :684:

Gotcha!!! iksnay on the other ap-gay!!! Loud and clear my friend.

 

[tsptalk]

Things I'm watching...

The 50-day EMA is being tested, but it hasn't been holding recently. Also, it's the close that matters, but right now the PMO is pulling back from its moving average too. (that could change by the close.)

 

[FireWeatherMet]

Bernanke Was Right: Interest Rates Aren’t Going Anywhere

Last week's Federal Reserve policy announcement was a big one. In response to a tightening in the labor market, the Fed set the stage for an interest rate hike possibly as soon as June by removing the "patient" language from its statement. But it also acknowledged recent economic weakening and softness in inflation .

The bigger story was what happened with the Summary of Economic Projections or "dot plot" estimate of where interest rates will be over time. Fed policymakers dramatically cut the median estimate of where rates will be at the end of the year to 0.6 percent from 1.2 percent previously.
Translation: The Fed is only looking for two rate hikes this year, down from four back in December. This could be too optimistic.

More here:
http://finance.yahoo.com/news/bernanke-interest-rates-arent-going-103000852.html

 

[wavecoder]

CNN "experts" are saying the market will go down further. Time to buy? :laugh:

 

[tsptalk]

really. That's usually how it works.

 

[tsptalk]

That was quick... bottom of the channel (and 200 EMA) is being tested today in Trannies. So far so good with the reversal, but there's 3 hours of trading left and as we've seen before, a weak close can erase that.

 

[wavecoder]

Oil going up for worries that Saudi will stop production? Seriously? Saudi stopping production? Laughable to even think that lol. It'd be like Hawaii trying to put a stop to the tourism industry.

 

[FireWeatherMet]

CNN "experts" are saying the market will go down further. Time to buy? :laugh:

really. That's usually how it works.

Yup. Usually with a reversal day like today.

 

[exnavyew]

Pre-Market Data

Good sign for Friday?

 

[bmneveu]

Pre-Market Data

Good sign for Friday?

It's really a toss up on how the market is going to react to Yellen's speech.

 

[exnavyew]

It's really a toss up on how the market is going to react to Yellen's speech.

Didn't know Yellen was gonna speak. Thanks...I think.
Nikkei was green most of Friday and finished down almost 1% late. Hmmm. :worried:
And of course the 'Pre-Market's are less than half from earlier. Whoo boy. :scared1:
Where did I put my Tums???

 

[wavecoder]

Oil under $50 again, oh wait I thought it was supposed to spike because Saudi might stop production? yeah that's why I don't trade news

 

[nnuut]

Yes WTI closed at, {see Signature}!

 

[wavecoder]

Well the S fund sucked it the entire week, but it's good to end on a positive note :laugh:

 

[exnavyew]

FWIW:

[h=1]Something weird is going on in the US economy, and it's not good[/h]
http://finance.yahoo.com/news/something-weird-going-us-economy-133929266.html

 

[Viva_La_Migra]

Well the S fund sucked it the entire week, but it's good to end on a positive note :laugh:

I'm being lazy. Wasn't there a thread a while back about just being in the market on the first trading day of each month and out the rest of the month? Has anyone gone through the trouble of back testing that?