Thread: Bquat's Account Talk

Originally Posted by Mcqlives

1150 now acting as intraday upper resistance. 1120 broke once but holding a little (like 1150 did earlier). If it holds and we go up then I will wait to see what the 1150SPX mark does. If we close below 1120 then we are headed for 1080 then, if that breaks, 1050. If the 1050 mark breaks then there is a couple of descent stopping points on the way down where a recovery is possible but we could see the 950 or 880 mark pretty easy. Scary stuff!

You posted this on 8-8-2011. I didn't see your 1050 untill checking the long term on Yahoo finance. Now some analist are using it as the line in the sand.

So I give you kudos for this post and the 1050 call.

Originally Posted by Bquat

You posted this on 8-8-2011. I didn't see your 1050 untill checking the long term on Yahoo finance. Now some analist are using it as the line in the sand.

So I give you kudos for this post and the 1050 call.

Thanks! Now I am wondering if the BHO advisors have a similar number in mind to coincide with his jobs creation presentation. The first week or so of September fits nicely into several of the projections I have seen for significant market movement. Short term, I am considering getting in for a few days to try to catch 3 or 4 percent. Just don't know what day?!?!?!?!?!?!

Originally Posted by Mcqlives

Thanks! Now I am wondering if the BHO advisors have a similar number in mind to coincide with his jobs creation presentation. The first week or so of September fits nicely into several of the projections I have seen for significant market movement. Short term, I am considering getting in for a few days to try to catch 3 or 4 percent. Just don't know what day?!?!?!?!?!?!

You noticed, I not even talking about getting in. The market is waiting on actions, not words. We need to do something about unemployment and the economy.
We need to restart the CCC's like in my father's day. Park clean up, bridge building, road work, intracity clean up (if anyone would do it). Drop the minimum wage 1 to 2 dollars a year or two. Hire the unemployed that have been on the books for a year or more and the gov. pays 1/3 of their pay the first year. No one wants to hire and take the chance of having to pay 3 years of unemployment if they run out of work for them. We need to do this now so everyone take vacations and we'll handle when we all get back. Rant over.

I had a college kid work the summer for me to help him pay for college (they cut his financial aide 40%). Yea I could of done the work, but he needed help so I speeded up some long term projects I've been wanting to do. It helped both of us. I'm kind of poor right now and will have to rebuild my savings back up over the next 9 month's for next year summer projects, since I'm uncle Bill now.

Too funny but very nice of you to help out a college kid. If I get in it will be for a very short time...but to be honest with myself, I am just jealous of missing out on the gains I could have had if I followed Uptrend and now I am felling greedy. I realize this is not good thinking so probably will not get in for quite a while.

As for the CCC, I would love to see something like that but the good paying jobs would all be union run and the low paying jobs would be ones many people would flat out refuse to do. Even if you paid everyone the same, in today's society, I find it difficult to believe that the majority of people would accept it. Hope I am wrong but I still think there are way too many "gimmie" mind sets out there.

It supprises how many are getting in on a Friday. I think this market is to0 bearish to buy the dips and the weekend is too open for bad news to come out. We'll see true color Monday. Today is just consolidation after the resent drop. Maybe just a ledge. I still don't like to buy on fridays, too much risk premarket Monday. Wrong I may be yes?

Break time see ya. Good luck guys. Leave some posta. Sorry Fab the light went out, but have a great weekend.

Ok guys here's my simple graph update since MSN market streightened their graph problem.

Are we having a 2008 repeat. Will we go to 915 S&P? Only the shadow knows.

I be watching. We have to retake that 1203 level! What do you think?

A lot will depend on the GDP revision currently at 1.3% - sentiment suggests a downward revision. However, if monetary policy does indeed function with a lag the surprise could be an upward revision with QE2 finally having some positive input. SPX valuation is currently at 12.2 times reported earnings - the lowest since March '09. I don't believe that Bernanke will not move to bolster the economy - he will not remain idle. Also, the SPX has posted its biggest four week loss since March '09 - it's time for a change. Bear markets anticipate a 40% decline in equities - we've already had an 18% drop in the SPX and close to 2,000 points in the Dow. There will be no recession. Traders thought the same thing in 2010 and were proven wrong then - the ECRI was at -11 in July 2010 and is now only -0.1. Panic is not a strategy.

Not buying weakness. I think this is just a head fake on Libya news. I just might just be becoming a bear.

Originally Posted by Bquat

I just might just be becoming a bear.

I am already there...

Doesn't it look like big money or day traders are buying the morning market. Then they wait for more people to follow suit and then sell the afternoon or after market to get their profit. I've mentioned this in Nnutt's thread before.

Let's see if they can break the 1140 and maybe 1157. I don't think so but I'm a little bear.