Thread: Bquat's Account Talk

Originally Posted by Bquat

.
Little rant: Watch the news he maybe has to act. Unlike Roosevelt who spoke softly and carried a big stick, Obama speaks loudly and is slow to act. Rant over.

Bquat,

We may have to start calling you Mr. Obvious

Ok settling onto 1295 and building a low base is bearish.

Is the drop from 1343 to 1295 enought of a correction for the S&P for the bulls to start the buying the dip?

Well if the bulls can have a good showing tomorrow and get to 1309 we can hope to resume the bullish trend. If we don't break 1303 with a drift up to 1309ish we pretty much miss our best shot and continue down.

I am bearish still until a 1.5 % bounce off of 1282 or going up to 1307-09ish from here.

Well low base continuing to build, with some hesitation ringing between buying and selling. A lot of people are jumping in early expecting a buy the dip to begin. Too many still seeing if a trend change is confirmed with lower high and lower low already made.

Bad news about Japan, wish them well. Might get Libya out of the news a little and let oil speculation drop. Might be bullish a little.

I think this market might be hurt enought for consolidation today and maybe another red Monday.

Originally Posted by Bquat

Ok settling onto 1295 and building a low base is bearish.

Is the drop from 1343 to 1295 enought of a correction for the S&P for the bulls to start the buying the dip?

Well if the bulls can have a good showing tomorrow and get to 1309 we can hope to resume the bullish trend. If we don't break 1303 with a drift up to 1309ish we pretty much miss our best shot and continue down.

I am bearish still until a 1.5 % bounce off of 1282 or going up to 1307-09ish from here.

Today's action is looking better. Buy up to resistance and build high base. Now if we can break the 1302-03 area and hold above it there's a chance. If we don't it could be just the dip being bought because buying the dip has been the pattern. We need bullish support now! or this may be a dead cat bounce.

There it is. There's the move and now build the high base into the close.

Originally Posted by Bquat

There it is. There's the move and now build the high base into the close.

But is it high enough? I think/hope this is a lead in to a run back up to 1357ish but I may be wrong. After that, unless there is some great news, I don't see a sustained rally. If there is, we could break 1400 pretty quick! Let's all hope (especially since I am still in the S and need to get some back)! Have a great weekend.

Originally Posted by Mcqlives

But is it high enough? I think/hope this is a lead in to a run back up to 1357ish but I may be wrong. After that, unless there is some great news, I don't see a sustained rally. If there is, we could break 1400 pretty quick! Let's all hope (especially since I am still in the S and need to get some back)! Have a great weekend.

I don't think its high enought.

At the end of day the S&P stopped at the bottom of the previous channel (acting as resistance) and droped back down slightly. We did recover the 50 day moving average but didn't re-enter the bullish channel. The 50 dma may act as support and we may hold.

The weekly's are negative and not making at least 1.5% gain today after the bounce I'm bearish.

Oh did you catch Oscar's video? Just after previously comming out with his 11 day theory, where we should return to the bull trend on Wednessday and we droped, he comes our showing all these bearish flags and talks about fundimentals. He sure recovers fast.

Hope I'm wrong and the 50 dma gives us strength, but I think we're already in a bearish trend.

Ok, tomorrow is cross fingers day.

Originally Posted by Bquat

Ok, tomorrow is cross fingers day.

Good luck!!!

Originally Posted by Mcqlives

Good luck!!!

Ok let,s take that luck and see if 1282 holds.

Originally Posted by Bquat

Ok let,s take that luck and see if 1282 holds.

1286 was a pretty solid bounce line. Hopefully that is the bottom for now. Again, I think the market is in for a correction before a further bull run but I don't think this is it. I just can't see the technicals (other than last Friday's 30DMA) to support a bear. I think this is all a news driven sell off and the climb back will be quick! At least that's what I hope!

And, at risk of sounding like BT (except missing a 0) I hope to make $100,000 this year!