Spike's Scientific Stock Analysis

[spikefader]

OK folks, here's a cold hard clear warning for longs.

Vector is very bearish as of close today and it seems very very likely to remain this way for at least few days. It seems inevitable we are headed for weekly channel support from the Oct '03 lows for the Naz.

Of particular interest right now; check out intraday 5 min chart VIX today; nice 5 wave impulse move. Further; something VERY interesting is that BOTH THE DAILY AND WEEKLY Point & Figure charts for $VIX have an identical bullish target of 33.00. How often does that happen? Spooky. Why is VIX important? Rising VIX; falling market.

So, now is a great time to be cash. The next great opportunity to look for longs will be the weekly channel support. We'll cross that bridge when we get there. For now, sit back and watch the fireworks.

[spikefader]

Oh, and I forgot to mention, the afterhours move up last night opened the door and set the stage for the island reversal on the Qs that IIC had mentioned the other day. The way I see it, if it was going to happen today was the perfect day to do it. Instead, it was a gap 'n crapola and a big punch in the guts for the market. A large down day tomorrow rules out the island reversal, and the gap just becomes a target later on down the road.

[dmk112]

Spike, don't you think the whole reason the market reversed today to the downside was b/c of the inflation numbers??

[mtm]

MTM, why are you saying that 31.04 was resistance?

Yes 31.04 is resistance, but of course you can always go a little through on either side. Of course nothing is exact.

[mtm]

Thx MTM...I have your site bookmarked and I do read it sometimes but I don't participate...Problem for me is time...I'm in 7 forums and 2 chats...plus I have a f/t job and 4 websites. I'm also working on another site....Best, Doug(IIC)

I know the feeling, not a problem I can just send people here and to your site for your information. We can't possibly post everywhere although sometimes it feels like it!

[b_critical]

Spike,

Looking at some stocks for the long 6mo+
OWENQ entry at 4.60 stop at 4.10
LUFK entry at 29.50 stop at 27.00
RELV entry at 10.00 stop at 8.50

Could you give me you humble opinion??

Bill

[dmk112]

FORD, crazy today, spike I think you must have reached your target here... they're up 4pts on earnings...

Strong market today, let's see if it holds up.

[RL]

Spike will you take a look at SLB and tell me what you think? Thanks much If you do not have time I undestand

[spikefader]

Wow huh! Dow hitting 10k last night has obviously been well supported.

OK, so the Qs gap is closed. S&P close to filling that little gap. Very impressive and most surprising! Still got the bear suit on though..........

[Websman]

I've been looking for a buy point for BTFG, but from looking at the chart, it appears to be continuing in a downtrend.
Might be a good short for you Spike.

[spikefader]

Added to this QQQQ short at 35.61.

[sowersnc]

Spike,

I don't know how reliable this is but this shows that institutions were doing the same as you. Look at the selling today.

http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=QQQQ&range=30&mgp=0&i=3&hdate=&x=10&y=10

[mystiky]

Anyone have an updated view on SNHY after today?

Although the volume was half of yesterday (but still much above avg), SNHY had a lower high and a lower low. And of course, closing in the red while the rest of the market went bonkers was another thing that kept my short trade open.

So, support still at above 25 and resistance at 31?

I am thinking of covering around low 27's. At least IBD has stopped pumping it!

All opinions appreciated!

[dmk112]

Added to this QQQQ short at 35.61.

Spike what are you gon and do that for???

Hey what's your take on Fords 40% up today?

[New-born baby]

A sticky situation

Although the volume was half of yesterday (but still much above avg), SNHY had a lower high and a lower low. And of course, closing in the red while the rest of the market went bonkers was another thing that kept my short trade open.

So, support still at above 25 and resistance at 31?

I am thinking of covering around low 27's. At least IBD has stopped pumping it!

All opinions appreciated!

Sticky,

Spike is the best. Do what he tells you to do. But I am going to throw up my ten cent opinion so that I can read what the good Dr. says about my bile. Read my chart with a couple of shovels full of salt.

I don't know where you entered the short, but let me say this: if I enter a trade, and I have a profit, I do not let that profit get away if I can help it. I exit the trade and re-enter later if I want. If I were you and I had a profit--even $20, I am leaving Dodge before I go upside-down on a trade. But that is just me. I am suggesting that if you have a profit, take it off the table if the stock moves against you tomorrow.

Okay, here's my empty-headed thinking: