tsptalk's Market Talk

[clester]

I wish we had tested 1120 this morning and then bounced. Good luck Tom. Holding over the weekend is scary. It could go either way. I noticed on tracker that a big majority seem to be in bonds. From a contrarian viewpoint that is a buy.

 

[Dutchy]

OK, Dow is back in the red. That's more like it. But I am going to make a one day move (that's the plan anyway) into the stock funds for Monday based on Ebbchart's daily pattern for Monday.

Without going into too much detail, Monday's pattern also occurred on Aug 9 (S fund up 6.6%), Aug 11 (S-fund up 5.24%), and Aug 15 (S-fund up 2.84%).

It will probably be a big day - I just hope the pattern remains up and doesn't decide to change it's tune on us. :blink:

This is my 2nd IFT in Aug so I will be able to move back to G if I want, which will likely be very quickly.

For the record, I was in the stock funds from Aug 1 thru Aug 15 before selling, so I am down 7.7% in August. I got lucky and sold the rally on the 15th and have been out since... until this coming Monday.

Sure hope you're right Tom! Thanks for your "silver lining" graph in your Commentary today.... I can't wait for August to get over!

 

[clester]

Next weekend is Labor day weekend. I would expect a counter trend as wall street takes a break. Selling may slow.

Also, Jackson Hole meeting is next week.

So, next week is looking better to me.

 

[JTH]

I wish we had tested 1120 this morning and then bounced. Good luck Tom. Holding over the weekend is scary. It could go either way. I noticed on tracker that a big majority seem to be in bonds. From a contrarian viewpoint that is a buy.

Of the top 100 on the tracker over 80% are in the G&F Funds, it's going to be tough to climb up to the number 1 slot...

 

[Bquat]

Of the top 100 on the tracker over 80% are in the G&F Funds, it's going to be tough to climb up to the number 1 slot...

Yea, I want my 50th spot back, but they're not buying and can't drop. There is a lot buying in today below me.

 

[JTH]

Yea, I want my 50th spot back, but they're not buying and can't drop. There is a lot buying in today below me.

That's ok, their refusal to buy can only protect the majority of them for so long. New blood willing to take on more risk will replace them. Sitting in the G-Fund too long makes a turd lose its luster...

 

[Happy_Trails]

Darned IFT limits - would have been nice to bump back up to 100% for any big rally early next week but it was also not as bad yesterday being only 50% S.

 

[Nordic]

I wish we had tested 1120 this morning and then bounced. Good luck Tom. Holding over the weekend is scary. It could go either way. I noticed on tracker that a big majority seem to be in bonds. From a contrarian viewpoint that is a buy.

The way the 3 o'clock sellers are going, we might see 1120 yet today.

 

[clester]

The way the 3 o'clock sellers are going, we might see 1120 yet today.

We're there. So now we wait for next week to see if we bounce or make a new low.

 

[k0nkuzh0n]

Next weekend is Labor day weekend. I would expect a counter trend as wall street takes a break. Selling may slow.

Also, Jackson Hole meeting is next week.

So, next week is looking better to me.

Off by a week? Labor day is Sept 5th. So the weekend starts the 3rd. This weekend starts on the 20th. NEXT weekend would be the 27th. Then the weekend after that is labor day weekend.

 

[Appatite]

The way the 3 o'clock sellers are going, we might see 1120 yet today.

I need 1120 on Monday.

Let them know that for me.

Thanks.

 

[Nordic]

1124? Close enough to 1120 for me, I jumped into S today looking for a green start to next week. There are some who are expecting this thing to bottom around 975, which it might, but in the meantime let's catch some upwaves. I have a bunch of ground to make up just to get back to even.

 

[clester]

Oops

 

[clester]

Next weekend is Labor day weekend. I would expect a counter trend as wall street takes a break. Selling may slow.

Also, Jackson Hole meeting is next week.

So, next week is looking better to me.

Off by a week? Labor day is Sept 5th. So the weekend starts the 3rd. This weekend starts on the 20th. NEXT weekend would be the 27th. Then the weekend after that is labor day weekend.

Oops

 

[tsptalk]

I'm sticking to my plan and making this a one day trade. I hope we can keep some of these gains into the close (thanks Ebb - if it holds ) Back to the G fund for me for tomorrow, and out of IFT's.

OK, Dow is back in the red. That's more like it. But I am going to make a one day move (that's the plan anyway) into the stock funds for Monday based on Ebbchart's daily pattern for Monday.

Without going into too much detail, Monday's pattern also occurred on Aug 9 (S fund up 6.6%), Aug 11 (S-fund up 5.24%), and Aug 15 (S-fund up 2.84%).

It will probably be a big day - I just hope the pattern remains up and doesn't decide to change it's tune on us. :blink:

This is my 2nd IFT in Aug so I will be able to move back to G if I want, which will likely be very quickly.

For the record, I was in the stock funds from Aug 1 thru Aug 15 before selling, so I am down 7.7% in August. I got lucky and sold the rally on the 15th and have been out since... until this coming Monday.

 

[clester]

I was thinking of selling F and buying C. My thinking is that we are near the 1120 close and that or 1100 the intraday low would be a good stop. So, risk would be limited notwithstanding the volatility.

Sentiment of CNBC commentators is very bearish too.

Still pondering.

 

[RealMoneyIssues]

I'm sticking to my plan and making this a one day trade. I hope we can keep some of these gains into the close (thanks Ebb - if it holds ) Back to the G fund for me for tomorrow, and out of IFT's.

Keeping the gains for the day is not looking all that good... sorry

I wonder if there will be more gains towards the end of the day or into tomorrow...

 

[clester]

Keeping the gains for the day is not looking all that good... sorry

I wonder if there will be more gains towards the end of the day or into tomorrow...

The fade may keep me out. Europe closing now. Let's see what happens in the next 30 min.

 

[tsptalk]

I'm sticking to my plan and making this a one day trade. I hope we can keep some of these gains into the close (thanks Ebb - if it holds ) Back to the G fund for me for tomorrow, and out of IFT's.

I am having some second thoughts about this sell (yeah, that usually works out well ). But some new developments this morning (2 from our premiums) has me thinking about keeping some, if not all of my money in stocks for another day or more. One key for me will be if the S&P can see some dip buyers come in and buy this late morning dip. Still thinking.

 

[clester]

The fade may keep me out. Europe closing now. Let's see what happens in the next 30 min.

S fund in red now and C is headed that way. I guess I will have to wait for another day. Disappointing.