Market Watch

[skiracer]

Runner,
Do I detect some subtle sarcasim in your post? You're the safest one of us all right now being on the sidelines with all your money safely tucked away for the time being. Nothing wrong with that at all. You can't lose what you don't bet.

[Runner]

Runner,
Do I detect some subtle sarcasim in your post? You're the safest one of us all right now being on the sidelines with all your money safely tucked away for the time being. Nothing wrong with that at all. You can't lose what you don't bet.

Ski, I find this emotional roller coaster ride a dangerous path right now and so I folded all bets and hid my money under the mattress. lol......

[dmk112]

Runner, trying out TC 2005...nice software - just wondering to get hourly data, do I need to get TC Platinum??

[Websman]

Ski, I find this emotional roller coaster ride a dangerous path right now and so I folded all bets and hid my money under the mattress. lol......

Smart move. I'm down to AOB, ELN and a small gamble on HISC.PK. I will sell these positions on any weakness.

I'm not going long or short on anything until the market decides which way to go.

[Runner]

Runner, trying out TC 2005...nice software - just wondering to get hourly data, do I need to get TC Platinum??

DMK, you will need to be a Platinum member for live data feed and so the hourly charts are not on the Gold subscription. Platinum service will also allow to run live scans. I’ve got the gold for now and like the features of the software. Medved has my hourly charts, but this leads me into another discussion. Because of my habits of day trading I’ve found myself taking profits way to soon in my swings. Any tic that looks crazy has my attention. Now trying to transition back into swing mode has got me stumped a little. I’ve made some real nice profits on my swings, but pulled out to soon because of the intra day charts telling me to drop it. Oh well need to refocus my efforts and nip this in the but. One huge positive is that I realize what I’m now doing wrong.

Now in swings I’ll pull out some at profit target and trail the rest with a stop or trail. If I had followed this simple rule I’d still be in the last 5 swings with huge gains.

Hope your enjoy it as much as I do!!

[Runner]

I have to give Spike credit on his QQQQ play today. I have my own thoughts on the market direction but regardless of what may or may not happen in the next few days or week his play today was a good one.



I wouldn't be using the Nasdaq for any forecasting right now as it is heavily tech laden and just isn't a good indicator right now. The S&P 500 is a much better indicator to base a judgement for direction. I wouldn't be forecasting a specific trend in one direction or another after today's action. It was heading down this morning an reversed on the news of the Fed calling for a strengthening economy. In my opinion they're a bunch of douche bags and manipulators an aren't very good at that either. But the markets are fickle and move on the slightest bit of news nowadays.
Oil (OIH) moves up 2.73 and is that good for the stock market and the economy in general but yet the market moves up 120 points. The S&P closed right at it's Aug/Sept lows today and still has alot of strong overhead resistance to push through. Wait a couple of more days until the weekend when an if Wilma hits Florida or somewhere along the Gulf coast with force and see what we get out of that.
Personally I would love to see a breakout rally but to me nothing has changed since my post last night. The S&P hasn't broken resistance and still has alot of push going against it and there are some volitaile things out there that could influence it's direction big time. I just don't see how anyone could be leaning strongly in any direction right now. It anything it has yet to prove that it will break the downtrend.
NB,
XOM up .87 today and OIH up 2.73 and Wilma picking up strength in the Gulf. Does that look good for a drop in the barrel price short term? Very fickle markets right now.

SKI, nice write up on things and I agree. If we get a follow-through with strong volume I might need to jump of the bleachers and get on the field dressed to play

[New-born baby]

Bull!

Before the whole forum jumps up and charges the machine guns, perhaps this somber note will help us all think soberly.

The bullish percents of the entire stock market fell today. For the entire market,there were 14 new buy signals on the PnF charts, and 53 new sell signals today. The bullish percents are down 13% in Oct to 52.3%. July 29 the figure was 72.73%. Any way you want to slice that figure it come out BEAR.

Today's rally--normal price movement.

[Runner]

RIO update:

RIO update from the top

It put in a tweezer top (1)
Sold off sharply then put in a Bear flag. Price could not fill gap. (2)
Shorts jump back on it when gap could not fill and stumbles down. (3)
Next Bull task is to clear (4)
Bear task simply is to put in a new Low. Many might be targeting 32.00 area on the down side.

[Runner]

Man, just turned my screen on and seems like a nice day to rest, in cash...lol

[New-born baby]

Bullish!

Man, just turned my screen on and seems like a nice day to rest, in cash...lol

Come on, Runner! Aren't you bullish??

[Runner]

NB, ya funny. No this type of environment can get one in trouble quickly. I’ll let you guys fight it out as far as this bull or BEAR thing. I’ll let the big dogs battle the direction and try to enter once a dessisive victory has been proven.

Here is a tip. Draw an arrow from the last top on any of the Indices and tell me the direction of the trend? It can only be three simple answers. Up, Down, or sideways.. That is simple and even a X-Paratrooper can figure that one out.. My magic wand seems to indicate a downward looking arrow...uuummhhhhh simple and easy to understand I guess. Hahaahhaa

[Runner]

NB, here is my view of the markets through my M-21 sniper scope!!!

[skiracer]

This next paragraph and a few charts say it all. It may change next week butI don't think it will this week.

[New-born baby]

Bda

NB, here is my view of the markets through my M-21 sniper scope!!!

.

Runner,
No need for you to do any BDA for me. I can see it for myself.

[skiracer]

To many images on one post, so here are the remaining two images.



This is Briefing.com's swing trader column. Pretty much right on the money. A big sucker punch today for alot of traders.