Thread: clester's Account Talk

<Meant to add, didn't feel comfortable going to F because of the uncertainty. Very possible we see the indices move up through resistance. Just hope it wait till February now.

S&P hit resistance at the 50 dma and backed off yesterday. Thats what I expected. Will be Interesting to see how the market reacts to that. Down some this morning. Question is... are we back to buying the dips? If we get above the 50 dma I will probably buy in 50%. I would like to see us have a nice pull back to support.

Originally Posted by clester

S&P hit resistance at the 50 dma and backed off yesterday. Thats what I expected. Will be Interesting to see how the market reacts to that. Down some this morning. Question is... are we back to buying the dips? If we get above the 50 dma I will probably buy in 50%. I would like to see us have a nice pull back to support.

We popped through the 50 dam easily. There is usually a re test of the breakout. I think I will wait for that. Plus we are already up big for the month.

Originally Posted by clester

We popped through the 50 dam easily. There is usually a re test of the breakout. I think I will wait for that. Plus we are already up big for the month.

Plus if this holds for today we will have a gap that the market will have to deal with at some point. Watching this relentlessly go up sucks on the G side of the fence but I hoping maybe we are experience the same at last year. Big pop in Jan and crash in Feb so we can test some lows. That would nice. I'm learning that sometime sticky pants are worn in up markets as well as down markets and its just as hard. I was watching the 50 day like you to help gauge when when to try putting some money to work but man we have jump so fast its scary.

We popped through the 50 day MA, as well as the double low last fall, and have now retested it and bounced. These are good signs. The 50 dma is still below the 200 so I'm still in bear market rules. Looking at a 50% buy in today. Lets see how we react during the morning. The semiconductors rally yesterday seems to be out of whack. One was up 20%, I think. These are not IPO's or something. Very strange and concerning.

Originally Posted by clester

We popped through the 50 day MA, as well as the double low last fall, and have now retested it and bounced. These are good signs. The 50 dma is still below the 200 so I'm still in bear market rules. Looking at a 50% buy in today. Lets see how we react during the morning. The semiconductors rally yesterday seems to be out of whack. One was up 20%, I think. These are not IPO's or something. Very strange and concerning.

I don’t like the gap up on S&P this morning. Will we need to fill it soon? Also, back at the important level around 2680 to break out of the V shaped dip in December. Plus we’ve come a long way. I’m thinking of waiting until next week to get in.


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Originally Posted by clester

I don’t like the gap up on S&P this morning. Will we need to fill it soon? Also, back at the important level around 2680 to break out of the V shaped dip in December. Plus we’ve come a long way. I’m thinking of waiting until next week to get in.


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We tapped back down today. Creating an “island’ formation I think it’s called. In this case that’s bearish. I’ll be interested in how this plays out. I’m in no hurry to buy but I would like to buy by the end of the month if I can. We need to hold the 50 dma

Originally Posted by clester

We tapped back down today. Creating an “island’ formation I think it’s called. In this case that’s bearish. I’ll be interested in how this plays out. I’m in no hurry to buy but I would like to buy by the end of the month if I can. We need to hold the 50 dma

The gaps are now filled on that island formation. So, where do we go from here? Fed announcement this afternoon. I have until tomorrow to get in for February so I will wait for that. I’m feeling good about the markets in general. Back above the 50 dma on S and C funds but still in bear market via 50 dma below the 200. So, i’ll Be looking for a 50% buy tomorrow if the market holds up.

I expected a little better jump this morning. Market usually shows its anticipation a little better than this on good earning days with a fed speak in the PM. Maybe the market is really in a wait-and-see mode. I hope it is and we climb from here.

Stay warm everyone. -18 in my Illinois back yard this morning at 630. Crawled up to -11 as of now.

Originally Posted by clester

The gaps are now filled on that island formation. So, where do we go from here? Fed announcement this afternoon. I have until tomorrow to get in for February so I will wait for that. I’m feeling good about the markets in general. Back above the 50 dma on S and C funds but still in bear market via 50 dma below the 200. So, i’ll Be looking for a 50% buy tomorrow if the market holds up.

Going 25% S and 25% C funds. Got the 200 dma above and the triple top area to get through before we can call an all clear plus we need the get the 50 dma back above the 200. That will take a while.

Originally Posted by clester

Going 25% S and 25% C funds. Got the 200 dma above and the triple top area to get through before we can call an all clear plus we need the get the 50 dma back above the 200. That will take a while.

The RSI values are 63 ish on the S&P. This is a strong reading but not too strong yet to indicate overbought. 70 is a warning sign and 80 is a sell sign. We have some room left but as we reach the triple top area the RSI may be close to a warning area. Hope that doesn't cause a sell off. Plus, we have had a great January. So, I'm a little worried about profit taking coming soon. I hope we have another month to climb. March can be messy sometimes.