Thread: Bquat's Account Talk

Todays action is good too. Move up, Test, Move up, Test, Repeat.

1320 critical point. Need to build high base or move above it.

And a nice end to the day to boot...as long as the VIX stays where it is (or even starts to climb in a steady way) and the technicals are good, next week should be very nice!

Originally Posted by Bquat

Todays action is good too. Move up, Test, Move up, Test, Repeat.

1320 critical point. Need to build high base or move above it.

Little concerned abvout 1320 no holding, but 1318 will have to do for support. No sell off for the weekend so maybe more gains on Monday.

Still 60/40 Bullish

Originally Posted by Bquat

Little concerned abvout 1320 no holding, but 1318 will have to do for support. No sell off for the weekend so maybe more gains on Monday.

Still 60/40 Bullish

Well didn't do too good on this guess. Not holding 1320 and S&P outlook negative, I just can't fight the news. This has been like a bad dominoes setup up effect. I'm lning them up and three quarters away from having the set up in a nice pattern and my fat little finger touches one and it falls knocking them all down and have to start over. Even thought a budget was passed, nobody believes that we can settel our differences and cut the defficit and stop the increase.

To begin again I hope. Need a dip buy again. I don't want to test the 200 DMA. So I must be bullish here for everyone. 1295 held so let's go up now.

Bullish 60/40 still

Nice finish today with nothing but green for the rest of the week on earnings reports. Hope to break back to a new S&P high for the year soon!

And as a bonus, my post just put you back on the first page!:toung:

Thanks for putting me back on the first page. I am elated by todays action. Not only was it bullish, it gapped over the 20 and 50 DMA. Also it brought us to the neckline of the inverse head and shoulders.

Somebody was really buying the futures and we opened up right into a strong resistance level and consolidated there. I was suprised that the regular market didn't keep buying. It might even be someone manipulating the market. Well we're a that 1332-1334 high resistance area again.
IMHO, I feel that the buyers will buy in tomorrow because of no sell off at the end of day and hopefully with Easter and Good Friday we get on of Oscar's three day holiday trend reversals and continue up. Also during the low volume prior to the holiday, POMO and QE2 may be able to push the market up to seem bullish.

So: 70/30 bullish

I just don't know if buyers should hold the weekend for Mondays action. Remember this may be just a holliday trend reversal and could sell Monday to Wednesday. I'm hoping Tuesday cause we have to decide tomorrow.
I'm thinking hold if tomorrow is bullish. If 1344 is broken a lot will stay in or buy.

What do you guys think? Will the inverse head and shoulders be true?

Wait for it, watch the turn. Some just grabbin profits at the higher level. 1333 should hold.

Originally Posted by Bquat

Thanks for putting me back on the first page. I am elated by todays action. Not only was it bullish, it gapped over the 20 and 50 DMA. Also it brought us to the neckline of the inverse head and shoulders.

Somebody was really buying the futures and we opened up right into a strong resistance level and consolidated there. I was suprised that the regular market didn't keep buying. It might even be someone manipulating the market. Well we're a that 1332-1334 high resistance area again.
IMHO, I feel that the buyers will buy in tomorrow because of no sell off at the end of day and hopefully with Easter and Good Friday we get on of Oscar's three day holiday trend reversals and continue up. Also during the low volume prior to the holiday, POMO and QE2 may be able to push the market up to seem bullish.

So: 70/30 bullish

I just don't know if buyers should hold the weekend for Mondays action. Remember this may be just a holliday trend reversal and could sell Monday to Wednesday. I'm hoping Tuesday cause we have to decide tomorrow.
I'm thinking hold if tomorrow is bullish. If 1344 is broken a lot will stay in or buy.

What do you guys think? Will the inverse head and shoulders be true?

1332 area held, so were consolidating before making the gains after an inverted head and shoulders.

So: Still 70/30 bullish

Originally Posted by Bquat

1332 area held, so were consolidating before making the gains after an inverted head and shoulders.

So: Still 70/30 bullish

Still good. If we keep above 1323 with this consolidation, I believe we'll see higher highs. Every one may be waiting on the fed announcement on Wednessday to miss any bad market news. I'm still holding until the test of 1323 or the gap up. I'm just thinking the general investor is totally burnt out with bad news in the near past and want to follow any push up over 1340-43 level and follow into new highs with any good news. Push the bull.

2011 Levels Update:

1557 October 2007 peak
1425 May 2008 lower high before all hell broke loose. Possible double top.
1400 Strong resistance
1385 Resistance
1350 Resistance
1346 Current level
1343 2011 peak in Feb, strong resistance
1332 Strong resistance.
1327 resistance
1322 Bottom line support double bottom chance
1318 support
1309 support
1302 Strong support High double bottom chance strong support
1297 support
1282 strong support
1275 suport
1270 support
1257 last chance support before major correction

Worried about 1400 as a top.

Negative headlines tend to produce the strongest advances in a bull market. The only thing we have to fear is no fear. Watch that VIX. Now that we have taken out SPX 1344 there is no real resistance for higher prices. Even the October 2007 price of 1565.15 is not the top - think in terms of 1745.