Thread: amoeba's Account Talk

Originally Posted by JTH

The charts haven't broken down, the S&P 500 closed last Friday just -2.45% down from the 52-week high. This is not a correction, it's a pullback thus far. Keep yourself in check, now is not the time to sell for a loss.

Here's some stats, do they look bearish?
Attachment 11069

No, last tuesday was the day to sell. I've been keeping myself in check - - - - and it hasn't helped. Since the afterhours is showing SPY breaching the 50 DMA, I may be licking wounds until next month if this continues.

Not looking like a good month. I thought June would be slow.

Things are starting to look quite tasty...

I love a nice correction...

Yummy...

Originally Posted by Boghie

Things are starting to look quite tasty...

I love a nice correction...

Yummy...

sheesh - nothings even in correction territory - yet......give it another 5-6%....but of course, you, (not me) have 2 IFTs to sell and rebuy, if you choose to, but since you didn't by now, you probably won't

EFA broke its 50 EMA without stopping; SPY is held it's 50 EMA but futures and afterhours are down. In fact everythings down for yet another day. I just couldn't bring myself to bail completely......

Talk about making a hash of one's IFT's...........yecchhh!!!!!!!!

I literally have no idea what is going to happen tomorrow; the market has sometimes sold good job news, and bought bad; or done nothing. Anyway, the tracking indices have all breached their 50 EMA support for the time being.

What that means is hard to tell - I would have guessed a month of floundering but that didn't happen with the tsunami - but this feels different. It doesn't have much of a newsworthy, or economic basis. More like a tired market looking for a reason to go down, which it did.

soo....Now what?

Originally Posted by amoeba

I literally have no idea what is going to happen tomorrow; the market has sometimes sold good job news, and bought bad; or done nothing. Anyway, the tracking indices have all breached their 50 EMA support for the time being.

What that means is hard to tell - I would have guessed a month of floundering but that didn't happen with the tsunami - but this feels different. It doesn't have much of a newsworthy, or economic basis. More like a tired market looking for a reason to go down, which it did.

soo....Now what?

The answer is......bounce back above the 50 EMA for at least the SPY, but it at what has been low volume similar to that on the recent uptrend, suggesting that institutions were holding and selling the highs.

As JTH's blog says.....confirmation required.....the specter of a(nother) +400K job claims number tomorrow looms, as does more important economic data next week, especially if there is a string of disappointments.

OTOH, there may be a string of surprises. Who feels lucky? Or smart?

A few of us do.....but not historic bottom-fishers like poolman (2008 tracker leader, with +18%).

At this moment - I feel the market has more anxiety about Q2-Q3; this is tempered by some pullback in energy, for the moment. Uncertainty overall. Could go either way.

You have ten more trading days to do the dog paddle.

Originally Posted by Birchtree

You have ten more trading days to do the dog paddle.

you have ten more trading days to hold your breath under water.

Well it does help to be a NAUI certified diver - so I can do that. Inorder to over come myopic loss aversion you have to learn to enjoy pain. The more pain you can accept the less of an impact it has on your portfolio - you know me well enough by now to know that I'm pain tolerant. I enjoy my sticky pants getting shredded by a bear claw.

Do yourself a favor, go to the store, buy a big bottle of superglue, open the big bottle of super glue, spread the superglue all over your hands, now go find a chair and sit on your hands.

Let him go J, just grab some popcorn.

Oh I don't mind James.....

If I didn't have his posts to read, I would have listened even less and lost even more $.

Still waiting for some of the up movers to use their IFTs this month.

I'm feelin this is NOT a turnback in sentiment, but perhaps a bump/selling opportunity if you haven't dumped already for the month.

Superglue indeed!