Thread: FogSailing's Account Talk

I have to laugh. Last time i posted Cohen wasn't testifying and the auto tariffs were the big potentials downers. Now all you hear is BS about positive news in trade with China. The market has melted up. So now people are talking a possible double top at 2914..

I guessing more like 2810-2820 then SURPRISE...

Time will tell.

I still think we'll see 2100 by May. And since I'm usually wrong. Why stop now?

FS

Finally got a buy signal at the close today...Chart #57 ...

https://stockcharts.com/public/1107832/tenpp/5

I meant to add to that...the buy signal on that chart #57 currently looks a lot like late 2015 when the 50 week moving average started curling up then the bottom fell out of the market again. I'm not predicting that will happen, but it's possible given the extreme nature of these up and down moves.

...and FS, what the heck do you have blowing into our state from AZ today? I've never had to pick up the blown over garbage cans on the street so many times in one day LOL. Supposed to snow yet again tonight. Been reading predictions about a mini ice age based on sun spot cycles and this February weather has me wondering!

Originally Posted by Tsunami

I meant to add to that...the buy signal on that chart #57 currently looks a lot like late 2015 when the 50 week moving average started curling up then the bottom fell out of the market again. I'm not predicting that will happen, but it's possible given the extreme nature of these up and down moves.

...and FS, what the heck do you have blowing into our state from AZ today? I've never had to pick up the blown over garbage cans on the street so many times in one day LOL. Supposed to snow yet again tonight. Been reading predictions about a mini ice age based on sun spot cycles and this February weather has me wondering!

Weather has been totally strange lately, even Hawaii had snow a couple weeks ago in Maui.

I like Joanne Klein. Very respected and very good at this.

FS

You should have been here TS. We've never had a weather pattern like this here in their history. Most snow in the mountains ever...temps are cold. I've become a warm weather guy and we were getting into the 20's. Unheard of. Glad it blew out of here and went somewhere else...Just sorry you got some of this..

What do you do when the Elliott wavers say the probability is things should be headed south and the technical indicators say not so much...

Decisions, decisions, decisions...

FS

Well, I now think the move to 2817 was corrective. We are seeing lower highs. So my original expectations still hold. Next up is a correction to roughly 2700. That is the first major line of resistance. I see this wave correcting down to the 2560 region before the next major corrective wave. I'm still holding out for 2100 in May. However, in the meantime I do expect oil to move up. I think it would be a good thing to invest for the short term if you trade stocks and commodities. All the best in your investing.

FS

Ok, we just dropped below support at 2752 so 2739 is up on deck. After that 2723 I believe is the next pit stop. Between these points who knows what happens before a return to the downside. But I'm still looking at 2560 before we see a substantial rebound and I still think we see a 4-6% correction before the broader market turns around.

Below 2719...look out below. That is the emotional statement from many traders. My feeling are that the market makes a small bounce at 2719 or thereabouts....just cause it's the market. We'll see how the day closes out. On the other hand, if this is impulsive...2700, 2583, 2650 is up on deck...

Good luck everyone..

FS

2722 anyway...then a much stronger close to the day than I thought we would get with 2743 at the bell. Makes a strange end to the day...especially with lower than average volume and a late day spike in VIX. Not a market that is easy to play for sure!

have a great weekend all!

Not liking this chart...

unemployment.png

Still I feel we're close to a bounce...maybe it pulls back to 2710-2720 area. Lots of support there..

Then we see what we shall see..

FS