Whipsaw's Account Talk

[Whipsaw]

My apologies, I realized I hadn't updated my signature since moving to the lily pad. That's fixed. Have been waiting for some kind of pull back, would like to see that next gap get filled.

 

[nasa1974]

My apologies, I realized I hadn't updated my signature since moving to the lily pad. That's fixed. Have been waiting for some kind of pull back, would like to see that next gap get filled.

Looks like the tariff tweet might be giving you that pull back.

 

[Whipsaw]

Looks like the tariff tweet might be giving you that pull back.

And now the response...

[h=1]Dow futures plunge more than 300 points on trade concerns[/h]https://www.foxbusiness.com/markets/us-stocks-aug-5-2019

 

[Whipsaw]

Dead cat bounce?

 

[nasa1974]

Dead cat bounce?

I guess it depends on what happens tomorrow.

 

[ravensfan]

I have been thinking the same as well. If this is a DCB, it could easily have you on the wrong side of the trade. Nothing really changed from yesterday, so I am thinking the bottom is not yet in. If I am wrong...oh well, it wouldn't be the first rally I missed. For now I will remain patient at 50% G Fund, 50% F Fund and keep slowly digging out of that disaster I had in May.

 

[ravensfan]

I think we can safely say that Tuesday's action was a Dead Cat Bounce.

Glad I didn't take the bait!

Now the question is "How low will it go"? :nuts:

 

[Whipsaw]

We might be there...

 

[Whipsaw]

if this factors into anyone's machinations... Tis’ The Season To ‘Get Small(Cap)’ | Jay On The Markets

From Close on To Close on Hold
Trading Day of Month Trading Day of Month
Mar 10 May 12 Large-Cap
May 12 Jun 22 Small-Cap
Jun 22 Aug 6 Large-Cap
Aug 6 Sep 22 Small-Cap
Sep 22 Nov 15 Large-Cap
Nov 15 Mar 10 Small-Cap

C Fund is the worst performer in January. F & S Funds do the best

 

[Whipsaw]

Did somebody say Whipsaw?!
[h=1]Charting a volatility spike, S&P 500 whipsaws at the breakdown point (2,912)[/h] https://www.marketwatch.com/story/c...kdown-point-2912-2019-08-09?mod=mw_latestnews

 

[Whipsaw]

How low can we go? Downside targets anyone? I'm thinking 2850 on SPX.

 

[DreamboatAnnie]

I'm thinking 2840-2850...200EMA, but if we break that, eeeekkkkk…. maybe 2810 and then possibly to 2750....down close to March or May lows.

Best wishes to you and everyone* Whipsaw!!!!!!! :smile:

 

[BooDog]

How low can we go? Downside targets anyone? I'm thinking 2850 on SPX.

My flat line is around 2740 - 2760 for the SPX.

The bears are trying like crazy to kick the bulls where it counts. And the media is playing right into it as well blowing every bit of news out of proportion.

Look at gold starting to hit 2012 resistance. https://finviz.com/futures_charts.ashx?t=GC&p=m1 and the banks doing their thing as well. The SPXN coming into a wedge https://finviz.com/quote.ashx?t=SPXN
All in all I see a very good potential to see double bottoms near 7k on the NASDAQ https://finviz.com/futures_charts.ashx?p=d1&t=NQ around 2700 on the S&P https://finviz.com/futures_charts.ashx?p=d1&t=ES and even a double bottom around 25000 for the DJIA. It could hold its support around 25500 but who knows. If those support levels break we're looking at possibly going under 24k. Take a look at longer term trend lines and those support levels stick out a little better imo. I'm certainly not a qualified analyst or advisor. Not expecting all this to happen overnight, just like the bull market there are up and down shorter term trend lines. And I'm betting on a decent bounce soon. I was neutral to bullish but starting to have my doubts.

But, if the bulls can somehow start squashing the bears then they can turn this around in a hurry.

Better news...
"UK wages rise at fastest rate since 2008, but unemployment also up:" Morning Brief

 

[Whipsaw]

Futures were down going into this morning, then tariffs delayed, holy pop, Batman! Now what? Any legs for a decent rally?

 

[BooDog]

Just goes to show how a bad vibe can be squashed. GET BACK OVER THOSE 50DMA's AND WE MIGHT HAVE GAME ON!!


Crazy. Might take some off just in case though.

 

[Whipsaw]

Tariffs delayed till December, maybe we rally till then... ?
[h=1]Dow jumps more than 500 points on reports of progress on China-U.S. trade talks [/h]https://www.marketwatch.com/story/stock-market-turns-higher-in-early-tuesday-trade-as-wall-street-attempts-to-halt-multiday-skid-2019-08-13?mod=newsviewer_click

 

[BooDog]

Sure favors better than my bearish post earlier!! Still scrapping off a bit. was 10% C S & I at close I'll be 5% each and 85G. No moves to add in till September.

 

[Whipsaw]

50% S, 50% G, COB

 

[BooDog]

50% S, 50% G, COB

Those are the types of moves that I should be making. Might only be working for about 5 more years though.

 

[pmaloney]

I'm in 50% C and 50% S and I've been retired for six years. Aways better to make money, although I always keep in mind that old tough prisoner on the train in "Slaughter House Five" who kept saying I've been through tougher times than this, until thay found him frozen to death one morning.:smile: