XL-entLady's Account Talk

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Today the markets are down then up then down then .... urp.

I can't tell if this is going to be the correction we're all waiting for or not. So I guess I'll just wander off to study my brackets some more. Kansas? Syracuse? Hm-m-m.:p
 
XL-entLady said:
Today the markets are down then up then down then .... urp.
Click to expand...
More of the same, boring movements...Almost feels like May.
I can't tell if this is going to be the correction we're all waiting for or not. So I guess I'll just wander off to study my brackets some more. Kansas? Syracuse? Hm-m-m.:p
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Really, you're having a hard time?


*KANSAS:D

Although I'd LOVE to see XAVIER give it a good go @ it!:toung:
 
Coolhand's always excellent blog points out that the SS system has gone to a sell. Ira Epstein's video says it's time to go to the sideline but it is not yet time to be bearish. And I really recommend his latest video because it explains the latest dip very well.

http://iraepstein.linngroup.com/videos/midday-stock-index-report.html

JTH's analysis shows the downturn but no crosses yet.

Right now is a time to be watching the markets with a sharp eye and a finger on the exit button. And for the next two weeks I'm going to be lucky to be able to check in once a day. I'll be in San Francisco. And yummy sourdough bread, Chinatown and cable cars sound fun but the reality is I'll be locked in high level meetings all day long and won't be able to check the markets until evening. And who knows if I'll have the energy to boot up my computer then.

Gritch, gritch gritch. :rolleyes::laugh:

Thanks for your patience with me, everyone. Good luck in your market decisions!

Lady
 
XL-entLady said:
Right now is a time to be watching the markets with a sharp eye and a finger on the exit button. Lady
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My Fair Lady, based on where you took prices I can understand where your worries might be. You took prices at the 23.6% Fibonacci level, so your risk here is higher than mine, but I will say that all this panic selling I'm seeing in the markets is somewhat overrated at the moment and not wholly justified.

Thing is, most of this news (Health Care, Greece) could already be priced in, a good portion of Friday's action was based on India surprising everyone with a rate hike. Thing is the smart money already got out and now they are just waiting for the dumb money to bring prices down so they can get a better entry point. Bla bla bla, I digress...

$SPX should have solid support at the 23.6% 1150 level, if not, then we test the 38.2% level with the 20EMA/SMAs at 1140ish. $EMW has aready retraced 23.6% and bounced off this level. If this level doesn't hold, then once again we test the 38.2% level with the 20EMA/SMAs at 555ish.

Based on my EOB 1 March entry point and only having 1 IFT, I feel the risk is justified and I will stay in. Your risk factor is different, I just wanted to share my thoughts with you on what I think price will do here. Hope this helps.

View attachment 8718
 
I'm still holding the line. Based on 5 day over 15 day EMA and stochastics trying to embed. But it's not easy after this kind of a run up. Especially when I keep seeing so many opinion pieces about "are the bears coming out of hibernation?"

Leaving my allocation alone but looking hard at C Fund.
 
Arthur Hill's column (I would provide a link but I think you have to be a StockCharts subscriber to see it) says, in part:

"...The current overbought period is the longest since July-August, when RSI was above 70 for over two weeks. Prior to Jan-Feb, the last correction was in June-July. This correction ended with a surge that created extended overbought conditions into August. The July-August overbought condition did not foreshadow a correction. Instead, it foreshadowed a period of choppy trading (yellow areas) and a subsequent advance to new highs. Pullbacks pushed RSI just below 50 and ended when RSI crossed back above 50 (green arrows). These RSI dips provided a means to participate in the ongoing uptrend. Going forward, this strategy is certainly not fool proof, but it is something to think about with RSI trading near 70."
 
Well, I really did it yesterday. Told my boss I was re-re-retiring. There was a lot of discussion after that and I agreed to do a couple of short projects next year.

But I'm going to have more time to spend here now. :) Some of you may not think that is good news. :nuts:
 
XL-entLady said:
Well, I really did it yesterday. Told my boss I was re-re-retiring. There was a lot of discussion after that and I agreed to do a couple of short projects next year.

But I'm going to have more time to spend here now. :) Some of you may not think that is good news. :nuts:
Click to expand...

Congratulations! Congratulations! Lady, Two times for second retirement!:D
 
XL-entLady said:
Well, I really did it yesterday. Told my boss I was re-re-retiring. There was a lot of discussion after that and I agreed to do a couple of short projects next year.

But I'm going to have more time to spend here now. :) Some of you may not think that is good news. :nuts:
Click to expand...
Bout time:toung:
 
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