Thread: tsptalk's Market Talk

Originally Posted by tsptalk

Iran agreed to a production freeze helping oil rise today...

Part of the reason I left a 25% holding is we were looking to continue to cut through resistance. This may just help the market knock down some walls. I really expected Iran to stick to their plan to dilute the market more to make a name for themselves. But, thinking about that, that wouldn't be making a good name if they're not going to play the game. I was thinking they would just be out for the money. I saw JTH's move. Well done for him. See what can happen before the media cuts everything back down again.

Originally Posted by BooDog Bounce continues from yesterdays lows? Thinking it may be worth the risk. Adding to I and C. FYI, TSP users need to answer a set of security questions so make sure you plan ahead to allow a couple minutes to answer them. Can't do anything till you do."

today
IFT back to 10 C 10 I and 5 S from 20 I 20 C and 10 S at COM could see some continuation but taking some off anyway. 1 IFT remains.

Oil just started pulling back for some reason (report of some sort?) and it took stocks with it...

5-minute chart...

Originally Posted by tsptalk

Oil just started pulling back for some reason (report of some sort?) and it took stocks with it...

5-minute chart...

Inventories I think. Still, imo, oil will be stuck $25 - $40 for a bit. Market just needs to get over it. :-)

Early trading in Asia...

The S&P (SPY) did a good job trying to fill that gap and holding...




But oil is tanking so it will be interesting to see if stocks can hold into the close.

Tom
wasn't there two gaps and do YOU think next gap will fill sooner than later ??

I always expect a gap to get filled - usually sooner than later, but as we've seen in recent years, some of these gaps off bottoms can take a while (see Oct gap). So I'm not sure about that lower open gap near 187. I suspect it will get filled but it could turn out to be like October's where we have to wait.

Tom
wouldn't it be cool to know by % if gaps fill in days/weeks vs months. that would be a good hedge on staying in or exiting...

The S&P 500 futures gapped open lower Sunday evening but has already nearly filled that gap...

Interesting futures movement.

I really liked the "pin action" of stocks late last week. Would have been worried if we kept going up, but having a few flat to -0.50% down days after a big 6% upsurge is usually indicative of "smart money" staying in, and on the ready to buy more...as long as geo-political/commodity news stays positive.

They're flying now. S&P up 8.00.