Thread: Bquat's Account Talk

Dow lost 6.66 today. theres that spooky number again...OOOooooo!

If you spread the S&P chart out to a 3 year time frame and choose candlestick, you will notice that 1100 offers good resistance. The bad point is that there's not much market hesitation below it. Also if you spread it out to 5 years, you will notice that 1150 was the top of one of the biggest down candles in 2008 which stoped at 990. So let's hope 1100 is the turning point. Hold this line.

At the close we were still sloping to the down side with not eveen a base building at the end of day. I will be remaining in the G pond.

Mcqlives, I don't see much strength at 1050 and only a little more at 1025. We are in a very scarry area and hope 1100 holds or your 1050 holds or there is more trouble.
710 is double bottom or we revisit 2008 low levels.

After reviewing videos, Todays down candle was longer than yesterdays which was longer than the days before. We are going faster in the negative direction. We need to set the low and bounce up 1.5% above it and not look back.

It's called gaining momentum, it's the worst type of pullback.

Originally Posted by JTH

It's called gaining momentum, it's the worst type of pullback.

Did you exit? Are you going to ride it out? It's looking bad and even worse under 1100.

Well I really liked how the futures continued down and bounced back up, but I think this may be a dead cat bounce. We need to break 1150 and mostly 1157 to ensure that we are above a good resistance. A high base at 1150 may be good too. So I'm watching.

And here we are at that critical level now and an hour before decision time. Go figure.

Let's keep an eye out for who bites also.

http://www.tsptalk.com/tracker/tsp_user_record_all.php

I felt a ripple in the pond, but my 1150 wasn't broken. I did like hoe 1140 was a higher intraday low, but I can't wait to see if it holds again. I'm staying on my lilly pad.

Originally Posted by Bquat

Let's keep an eye out for who bites also.

http://www.tsptalk.com/tracker/tsp_user_record_all.php

Only 11 or 12 bites today is not too convincing. Even though I wish them luck.

Originally Posted by Bquat

If you spread the S&P chart out to a 3 year time frame and choose candlestick, you will notice that 1100 offers good resistance. The bad point is that there's not much market hesitation below it. Also if you spread it out to 5 years, you will notice that 1150 was the top of one of the biggest down candles in 2008 which stoped at 990. So let's hope 1100 is the turning point. Hold this line.

At the close we were still sloping to the down side with not eveen a base building at the end of day. I will be remaining in the G pond.

Mcqlives, I don't see much strength at 1050 and only a little more at 1025. We are in a very scarry area and hope 1100 holds or your 1050 holds or there is more trouble.
710 is double bottom or we revisit 2008 low levels.

OK...so much to talk about but there are way more question than answers so I'll make it short. I like your candlestick analysis and agree with it but, in the case of the 1050 mark, I was looking for an opportunity to make some money off of a short bounce. Instead it looks like a bounce off of 1120 on the market close or around 1100 on the overnight action. Either way, this is most likely a dead cat bounce (a rotten dead cat at that) which does not bode well for 1120 or even the 1100. I just hope we don't see 990. I'm sitting in the g until we break 1150 on the up or establish a solid bottom for a down.