.04% daily G fund would be OK.
"The setup is so bearish that I expect to see another 'flash crash' of even greater magnitude on Tuesday or Wednesday."
http://www.marketoracle.co.uk/Article19908.html
.04% daily G fund would be OK.
Well:
I am thinking there is no rush to get back in this wk. All of the dips in the last 5 years, whether they have been corrections, bull-bear transitions, or otherwise, have witnessed the 20 DMA at least touching if not briefly (3-7 sessions) staying below the 200 DMA; this market is at 1-2 wks away from doing that. Right now, the 20 DMA in the SPY is ~1,120. Wouldn't make sense to bounce now - especially with 1,100 looking like a hard ceiling.
IOW, more damage ahead.
Nice little sucker's rally today - in advance of the ADP and jobs report:
Might wanna look at the last 3-4 such incidences of this (selloff on a "good" report); in any case, I'm hoping that the market actually does close over 1,100 for a day, because that will cause the deep selloff below 1,050. In any case, this month, I'm going to rely on the shorter term DMA's (20 or less) and their direction. Right now, the market is on it's 9th day below the 20 DMA. Nice tight downward spiral.......Can't wait for that sub 1,000 hysteria. Nice selling opportunity this week, and a buying opportunity later in the month.....knock yourself out.
Remember the above post? Well - we're almost there......the next 5 trading sessions will be KEY!!!!!! Especially this coming friday, which if the recent trend continues would be what, the 6th down friday in a row? There are some very important resistance levels forming in the SPY - - - 1,110 at the top (which everyone has been selling out of recently - - - and 1,065 - 1,070 - - - which has resulted in buying the following 1-2 sessions. Alot of the decline since 4/23/10 has come on smaller volume. But last friday there was good volume in SPY, and most of it was down, just minimal buying interest.
What the heck are we in for monday-tuesday? I am guessing the most optimistic is a decline of 2% or less; and then a return to the 1,070 - 1,100 range; and then even more damage.
The less optimistic is that there is a huge selloff on one of the two days. Neither of these scenarios has the risk/reward for me to use an IFT, unless it is to wade into F-fund at the false mid-week peak of the C-fund.
BTW, I have just cracked the top 80 ranks in our autotracker as of COB 6/4/10:
#78
Whoa there Amoeba...
I am in the Top 200
#200
Watch out for me...
I may hurt you as I fall
Lookin' up at the 'G Fund'!!!
#78 may only be a fleeting moment in time - your lesson is coming so wait for it. You must admit you are having fun with our banter - that's the way it should be. Sometimes we make money and sometimes we play give back - it's all a necessary part of investing even for fiduciary retirement.
the above was last friday's post on what today (6/7/10) would be - - - which was the more optimistic result; so I'm expecting a brief bounce (selling opportunity) in mid-week, then "another friday". someone else can play this game, if anything, I look only towards an opportunity to pick up some cheap F-fund before the total collapse into the 900's by the end of the month. Asta - - - baby!!
amoeba,
I have it on fairly good authority that the 'Cooler' is looking for you. Don't befriend any strangers that are kind to you and stay away from public places. Some around these parts are familiar with the 'Cooler'.
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