Thread: Bquat's Account Talk

Looks like a big dip in the F fund. A lot of day traders getting out of bonds to reenter the market. Looks like the turn around might be here already.

Originally Posted by Bquat

Most of the damage is done, but I'm still feeling a little bearish but maybe a dead cat bounce tomorrow then back down to 1300 to 1282 for a 3% correction. Maybe we'll build a low base around 1318 area which is bearish.

There needs to be at least a 1% gain tomorrow or it will be a bearish flag. Which means another 1 to 2% down. Slightly

No dead cat bounce and we did bounce off 1300 but didn't get back above 1315 to build the lower base. I'm more bearish because this confirms a bearish flag and with a lower low and lower high it confirms more down trend...

I think this is still relavent:

This is looking soo much like the November 5th correction. Had a good buy up just before the 5th triggering profit taking and about a 3 to 4 percent correction and return to the QE2 bull trend buy in. So maybe the turn soon, maybe 1295 or 1282ish, and back to the Bull.

Showing the S&P with the 13 day moving average. Showing the last two bounces were and if we don't turn soon we drop out of this channel.
Did this on:
www.FreeStockCharts.com

Originally Posted by Bquat

Showing the S&P with the 13 day moving average. Showing the last two bounces were and if we don't turn soon we drop out of this channel.
Did this on:
www.FreeStockCharts.com

I was thinking we could break down to around 11,700 dow and 125 S&P going into March, I couldn't see your chart from here so will look when I get home. My wild azz guess is based on the 3 year chart showing the trend line. So, like you said, if we don't see a turn here soon, thats what I was thinking.
Good luck. Swinging some back in for the risk but could be watching it vaporize.

I'm thinking we will see 1285 before we see 1340 again. I'm holding my 20% G for another day....

Originally Posted by BooDog

I was thinking we could break down to around 11,700 dow and 125 S&P, I couldn't see your chart from here so will look when I get home. My wild azz guess is based on the 3 year chart showing the trend line. So, like you said, if we don't see a turn here soon, thats what I was thinking.
Good luck. Swinging some back in for the risk but could be watching it vaporize.

You mean 1257 S&P here don't you? You're scarring me. Not really I'm not in the C fund right now.

I know that is a strong support area or even a last hope support but I don't think the Fed will let us fall that much and will increase Quantative Easing to try to turn us and keep us above the 200 DMA to keep the Bull definition.

Originally Posted by Bquat

You mean 1257 S&P here don't you? You're scarring me. Not really I'm not in the C fund right now.

I know that is a strong support area or even a last hope support but I don't think the Fed will let us fall that much and will increase Quantative Easing to try to turn us and keep us above the 200 DMA to keep the Bull definition.

yes, 125.something on the SPY chart. I've been flipping in and out of the C fund - well, as much as we can anyway with the 2 trades per month! They talk about the quantatative easing so we'll see. Budget talks and our debt ceiling are playing against us right now too imo. Fundamentalists are trying to have their day.

Test of 1300 yesterday and twice today already. I don't know if it can hold much longer. Not much of a bounce off it.

Originally Posted by Bquat

Test of 1300 yesterday and twice today already. I don't know if it can hold much longer. Not much of a bounce off it.

Looks pretty scary.

Saw the dip in AGG about 1300 EST again today. Thought it was a fluke yesterday Is it the Fed calling to take funds out of bonds to put in the market to hold ud in the bullish channel. It worked yesterday. Is this a stronger QE2 effect?

I don't know but it's not working as good as yesterday. But at least it is holding the 1300 S&P level. Maybe a drift up but not as fast as yesterday.

Originally Posted by Bquat

No dead cat bounce and we did bounce off 1300 but didn't get back above 1315 to build the lower base. I'm more bearish because this confirms a bearish flag and with a lower low and lower high it confirms more down trend...

I think this is still relavent:

This is looking soo much like the November 5th correction. Had a good buy up just before the 5th triggering profit taking and about a 3 to 4 percent correction and return to the QE2 bull trend buy in. So maybe the turn soon, maybe 1295 or 1282ish, and back to the Bull.

Well maybe now we go up.

Just trying to get bullish here. If 1300 acts as resistance we'll have another lower high and another lower low. This is a good level to watch. It can have a strong effect on tomorrows market.