Thread: Whipsaw's Account Talk

I think I'll give it a few days, IF it's going to turn around.

From the Stupid Question Department: From the News Feeder, the article references a low of 2,100 for the S&P 500, everything I look at is only 3 digits... what is the correct code? SPY isn't it...

HI WS ... It is SPX .. so you are not far off! SPX is the S&P 500 index that the C fund tracks. SPY is the SPDR sector ETF that also tracks to try to perform like the S&P index.

WS-scroll down to the bottom where it shows SPY on the left and click on Stockcharts.com Real Time and you will see the $SPX in four digits. Warning: it is not a pretty chart right now.

PO

I just shipped my Sticky Pants!

Well, we went through the pivot at 2666 but bounced before the pivot at 2637. Question is: Is it a bounce or the beginning of a rally.
At this point, if if heads south of 2625, we'll be seeing perhaps as low as 2525.
On the other hand, it it heads north but parks itself somewhere around 2720-2744, we would be in NO MANS LAND.
I'm not smiling right now...
Tough Day.
Hopefully, we are now experiencing a positive divergence since the bounce at 2641.
Won't know till later today or tomorrow morning.
FS

And add in the open at 2654 as the mid point we have only climbed 15 from there but had a bounce at 22 points down. Ranges are narrowing but still not an indicator of direction.

I want to throw up.

Post holiday reversal, anyone?

More like a pre-holiday reversal it appears. Should fill the gap up at 2690, but I'm hoping from there it snowballs into a whole lotta short covering and we get that year-end rally that so many pundents are insisting won't happen this year. The pessimism is too extreme so I think it can happen.

Who knows? But I am thinking to get in today or Friday---and then stay in a few days next week. Leaning towards a Friday entry only because I think that is seasonally a low day. Today is seasonally a high day and looks like it will fulfill. I see DOW moving down to +132 and it was higher earlier this morning... so still watching..... other thought was to enter 50% today and add 50% more on Friday. Will see...

I am hoping it goes up. All charts have now touched down to 20 on Full Stochastic. But I still think it would be risky... so thinking very short in and out. Obviously that means nothing if it drops further.

Originally Posted by Tsunami

More like a pre-holiday reversal it appears. Should fill the gap up at 2690, but I'm hoping from there it snowballs into a whole lotta short covering and we get that year-end rally that so many pundents are insisting won't happen this year. The pessimism is too extreme so I think it can happen.