New price Objective!
100 G
RSI - Relative Strength Indicator DMA - day moving average
banks and oils. Pay attention. Same old same old that brought it down with help from past administration maximizing their return.
There is NO reason for the steady increase in gasoline prices. Demand is down, supply is steady, stocks are good. Even with summer driving season and hurricane season here, analysts say there is PLENTY ..no danger of any shortage. Speculators at it again.
100% I August 14 (cob 8/14). Trying it again until Oct.
Malyla.......it's over........ooooh look!!!!
Just trying to be a good steward of what God has blessed me with.
not Really!!!
Just trying to be a good steward of what God has blessed me with.
Billions of $ in buy programs between 3pm and closing and corresponding spike in volume. Volume is dead throughout the day until then. Look at GS, STT, QQQQ's and other big players in the market. Or maybe it is the feds to show how everything is really hunky dory by keeping the markets up so the people will spend? Maybe a little of both. I do know it is not average traders doing this unless they have a couple billion laying around. Take advantage of it now, it can't last forever. (Can it?)
We are just at the beginning of a continuation of the mega trend secular bull market that started in 1982 - this strength could last for the next seven years. And I plan to optimize my positions. Tomorrow we get the DJIA over the 200 day and who knows what will happen next - I guess a strong buying stampede to the tune of 8 billion shares to the upside - how many points? I'll faint if I take a shot. I do know that hesitation will get expensive.
On the 60 minute chart we have a Bullish PO of 1062.
Attachment 6401
On the daily, we've begun a new leg up.
Attachment 6402
Last edited by JTH; 12-04-2009 at 07:23 PM.
Retired, 50G/50C_ BLOG: Stats for April, 2024 Stats
I am starting to get concerned on the patterns on the P&F Chart.
Watch closely - if it breaks down below 930, then we may see a big downturn. I am watching today, and may be moving, depending on what happens.
We've had a nice run north for a while, but it can't last forever, and there is weakness showing now.
Here is this morning's position.
Attachment 6444
As I say- nothing official shows up on the chart just yet, but if we break down under 930ish, things could change quickly. Under 930 could be a signal to change- we'll know if and when we hit it.
So pay attention today and let's see what the day brings.
Good luck.
No offense to anyone but......drop market, DROP!
TEST THE LOWS!!!
I want to buy in at a better price!
God bless the United States of America!
Today- the P&F chart signaled a "triple bottom breakdown".
And a new "bearish price objective", preliminarily set at 880. Not sure if it will hold, or go further down, but that is what the chart is saying today.
Attachment 6449
The mock P&F_C account in the autotracker has bailed out as of noon today, effective at the close.
We'll see whether or not that was a wise move. You just never know, but this one is going by the chart rules. We'll see.
Here is what http://stockcharts.com (one of my favorite sites, by the way) says about a triple bottom breakdown:
"A triple bottom breakdown is similar to a double bottom breakdown except that the price at which the breakdown occurred is a price that the chart retraced from two times before. This implies that the price level is a more significant area of support (area where buyers are willing to buy the stock and create demand that outstrips supply) than what is seen on a double bottom. The breakdown below this level implies that the sellers are now creating more supply than there is demand and therefore the prices are breaking down."
In short- watch out ahead.
Good luck.
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