Thread: Bquat's Account Talk

The VIX is getting ready to drop into the 20 level heading for 20.34 - the stampede is building while Ferdinand plays on the rails. He likes running in front of the train. I'm always refreshed when the train rolls over me. Put your ear to the rails and you can hear the hooves making their move.

Ok, you guys might want to right click on these charts to streach them out. This is long term for 2012.

With this chart you can see the market has been moving in a bullish direction since first part of 2009.
Our major trend is still down from 2008 highs. The top purple line is the top of my trading channel and if we break it, I'll be extremly bullish.
The bottom purple line is the bounce line where we hopfully bounce in a major market down turn. Extremly bearish if this breaks.
The middle purple line is the bottom of my trading channel and bearish if it breaks and bullish if it holds.

This is my trading channel. This is the mid to long term and the top two purple lines.
Above the top line I go very bullish and below the bottom line I go very bearish.
If we bounce down from the top line i have a more than normal bearish outlook and if we bounce off the bottom purple line I have a slightly bullish outlook.

I think in 2012 we may be doing our guesses between these lines with Europe holding us back. I think we and Europe have to be both improving to break the top of this range.

This chart is is mid to short term hourly chart that good to swing trade to. As you can see we are building a high base which is bullish but we are right against resistance. The top red line is the top of the last peak and we have a great chance of double topping and a failed move which can be very bearish. We could just gap up and become bullish. I feel with the resistance at the top and the hard time we had with 1302 and 1320 before there is not much gain to be made and the chance of a bigger loss is greater than the gain avalible. The light grey lines are fibonacci retracement level from last peak.

Then again we can break this level and get into buy the dips since we're above the 200sma. In capital preservation I have to see the move befor the commitment with the current resistance above us. I could be completely wrong but I'm not going long.

Ok these charts were for you. Copy them and stretch them out and save them. If you agree use them as reference, if you don't trash them. Please always comment to give the other side to help others to make better decisions. Or go to http://www.freestockcharts.com/ and try your own charting.

You likey, yes?

Go to the bottom of my last three posts and review the charts going back up to this post.

I agree, we need to break above the late October highs to validate an upside run. We are right up against it now and this week should give us a clue, I hope........

Good morning guys. Looks like were setting lower highs and the short term Head and Shoulders is a continuation pattern. I'm thinks more bearish now. Flat top big drop maybe?Any contrary comments will be appriciated.

Looks like short term support is holding but I won't be entering.

How about: flat top so hurry and drop. get off the pot!

Originally Posted by FAB1

How about: flat top so hurry and drop. get off the pot!

So good to see you're around. I was looking for the contrary side but I like support also.

You might be a contrarian on this one Bill, lots of "buys" out there at the moment. I kinda have to agree with you though, just doesn't feel right.

As Tom pointed out, the smart money is really getting bearish. I think I'll not overstay my welcome, looking to exit soon as I've scooped up 10% since the Nov low.