Thread: Bquat's Account Talk

No changes for me today.

Originally Posted by Bquat

Even though this would be a better buy in level than yesterday, I have an eye on pattern repeat. Testing resistance now: Just guessing here maybe a 20 Day test:

Market is trying to make me look bad:

Did Bernanke's speech turn the market? I didn't realize he was still pushing policy. Can't fight the Fed.

Originally Posted by Bquat

Did Bernanke's speech turn the market? I didn't realize he was still pushing policy. Can't fight the Fed.

I think 1840 to 1841ish is now the point to watch...I have been trying to figure out this action the past couple of days and do not have much confidence in the bull run but that area seems to now be the pivot point while the 20 seems to be lining up as a floor. If the 1840 breaks and we don't bounce at the 20 we could finally get a good buy in again. If we bounce anywhere before there I think I will put some into play on a gamble anticipating a triple test (and break) of the top. I wouldn't put too much into play on this until I got confirmation of the breakout. This move would be nothing but a gamble if I do go in...mostly getting tired of being on the pad again.

Like they say, "Don't Fight the FED".

Originally Posted by Mcqlives

I think 1840 to 1841ish is now the point to watch...I have been trying to figure out this action the past couple of days and do not have much confidence in the bull run but that area seems to now be the pivot point while the 20 seems to be lining up as a floor. If the 1840 breaks and we don't bounce at the 20 we could finally get a good buy in again. If we bounce anywhere before there I think I will put some into play on a gamble anticipating a triple test (and break) of the top. I wouldn't put too much into play on this until I got confirmation of the breakout. This move would be nothing but a gamble if I do go in...mostly getting tired of being on the pad again.

As we go downward these are the odds for support holding: I like 1818. Anyway we are technically in a bull flag until we get a bigger move down. With not getting a new high the odds of continuing down are 60/40.

Was out of pocket all day. Lot of damage done today. Broke through top half of channel right where I was hoping for a smaller channel to form. Going down chance now 70/30. 20 day rising fast. It may pass us from below as we move down. Looking worse but sill in defined bull flag.

Yes I know ladders don't work on the down side. I'm just using this one to see if we're accelerating to the down side. Soon I must decide to use my second IFT and if +/- 25%. I would prefer to be 50% in before the first of each month but there may be more risk to reward. I've noticed a trickle down of market talk as people have assessed risk and are just watching for market direction. So I just give the chart:

I completely forgot about three day holiday trend reversal. Futures look good so far. Stock Futures of Major World Indexes - Bloomberg

I don't know if I need to change anything chart wise. This is a confirmed lower high and I don't know if it's close enough for a double top. None the less it is a failed move. We talked a couple times before about futures being bought up, market following, profit taken and market following. Now see if they re-buy to make my ladder still good.

20 day battle is going on. If it doesn't hold soon I may take my last 25% out. Sorry had my 40/60 wrong place.