Thread: Bquat's Account Talk

Originally Posted by Mcqlives

OK...what direction do we go tomorrow? Talk about a bs ending of a day!

Tomorrow is a tough call:

If we drop to 1306ish and hold it may be considered short term bullish because it will be a double bottom and stoping on 1297 would be a double bottom also.

Todays action kind of established 1330 as a lower high and if we go below 1297, we will established a lower low which is very bearish.

The two false jump starts in the previous two days kind of denied a bullish push and may be a short term victory for the bears. Not consolidating under 1330 to make a high base is bearish also because strength was not shown after the bounce after 1297 was hit. So I am kind of bearish myself and I think we droped out of the bullish trend.

Watch the videos in poolman's thread later and see what they say.
I've been guessing real good lately but thats not always the case.

I've been trying to guess direction first and then go watch these guys to see how I've done. They may even have a post by now.

http://freeonlinetradingeducation.com/

http://www.thestockmentor.com/market-videos

Belows post is still good except for after reviewing the videos:

The bounce range is more defined to:

The S&P may bounce at 1300 because it's strong support.

May bounce at 1297 as a double bottom.

Best chance of a bounce at 1292 the 50 day moving average like in the last of January.

So there's three chances to bounce and below 1290 will be the lower low. Bearish

Originally Posted by Bquat

Belows post is still good except for after reviewing the videos:

The bounce range is more defined to:

The S&P may bounce at 1300 because it's strong support.

May bounce at 1297 as a double bottom.

Best chance of a bounce at 1292 the 50 day moving average like in the last of January.

So there's three chances to bounce and below 1290 will be the lower low. Bearish

My hopes are on 1300 as strong support, but the overseas markets are hurting pretty bad - looks like our dip yesterday overflowed on to them.

Glad I am not in the I fund today at any rate.

Originally Posted by FAB1

My hopes are on 1300 as strong support, but the overseas markets are hurting pretty bad - looks like our dip yesterday overflowed on to them.

Glad I am not in the I fund today at any rate.

Well 1304 was the charm but it doesn't look that strong because it didn't even try for 1318 resistance and if 1309 doesn't hold it's like a low base consolidation.

It is going DOWN if oil holds here or rises...

Looks like QE2 buying in and sellers taking the money, buying more in and the sellers taking it and so on.

This looks like some are selling the peaks and someone buying the dips. A tug a war at a low base.

Not a bounce today just more consolidation and todays action looked like bears were in with stops at 1309 looking for the drop because of a lower high and Bulls were in with stops at 1305 hoping for a bounce and run at 1306. Neither happened and the oscillation between buy and sell caused a low base to form. Weakness is bearish.

Sooo, we're still at a tough desision place and yesterdays comment is still good. Low base Touch 50 DMA

I'm 70/30 bearish.

This was a morning suprise. Just buying up the news that Libya is having peace talks. I think this is just overeaction and speculation.

1330 still is where any bulishnish can happen. I don't really trust this.

Now let's see gas prices go down. They'll probably go down slowly to get more profit. They went up just on the speculation of a shortage.

1330 is still a lower high and a strong resistance point and people may just take today to take profits.

Originally Posted by Fireant

It is going DOWN if oil holds here or rises...

Originally Posted by Bquat

Well 1304 was the charm but it doesn't look that strong because it didn't even try for 1318 resistance and if 1309 doesn't hold it's like a low base consolidation.

So was yesterdays low 1304, is that what you are saying? I just know it bounced a little below the nil line. If so thats pretty close to 1300, right?

Fireant quit being so optimistic, will ya?

Originally Posted by Bquat

This was a morning suprise. Just buying up the news that Libya is having peace talks. I think this is just overeaction and speculation. I don't really trust this.

Really? I dont see why - the SP500 is still down -2.34 in the last 7 trading days. C,S, I are all in the red since 2/23.

Buy low, sell high. we arent back to the highs of around 2nd week of Feb.

Get on aboard or get left behind. Who believes we are in a Bull market? Besides, birchtree that is. :toung: (im done, for now)

QE3 is just around the corner - Bernanke continues to elevate equities.

Originally Posted by Birchtree

QE3 is just around the corner - Bernanke continues to elevate equities.

I hope when the Big Bubble bursts you have some cans of beans stored in the basement!

- (I do, and lots of other tasty things to eat)