06-21-2011, 11:30 AM | #1409 |
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06-21-2011, 11:35 AM | #1410 |
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Stock market Thread II--Technical Analysis
This thread is meant for stock mkt trading based on technicals and other rational theories....not meant for blindly making recommendations based on air...we will all be right and wrong, but here lets at least have a reason why we think the way we do.
I posted this chart 1-2 wks ago and this was one of the reasons a long position was reasonable at the time. the % of SPX stocks trading below the 50 day moving avg can sniff out bottoms...every time it goes below 30% usually marks a bottom...also need to watch blow off tops in the VIX(watch if its trading above 2 standard deviations above the mean). I usually post on trading boards but since I spend alot of time on here, I will start a thread here. http://screencast.com/t/3kiho4tgNrw Last edited by mact3333; 06-21-2011 at 11:45 AM.. |
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06-21-2011, 11:42 AM | #1412 |
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06-21-2011, 01:04 PM | #1413 |
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06-21-2011, 03:42 PM | #1416 |
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Charts saying Greek PM will keep his job...Greek bailout will buy time...Bernanke gonna say economy weak tomorrow and open slight window for QE3...mkts ready to bounce...buy indicators coming in...hehe love talking to myself....
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06-21-2011, 05:42 PM | #1417 |
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Im not a super technician though I watch for certain patterns, pivot points and such but either way I'll play!
im watchin for the test of the 1300, since we got a local bottom at 1250. I was fully expecting the bounce off of 1250, now the question is can it reverse the short run trend of making lower highs? Im pulling back longs in my main portfolio have been since the 1350 high was set and goin cash for now. Too much headline risk though I was very tempted to play the bounce off 1250, now its too late and we're already at resistance. Action over the next couple days will determine if this market can breakout.. at which point I will continue to liquidate main portfolio (ie. for investing) into rallies and look for a put opportunity in my speculative option account. Obviously my bias short run is for falling prices overall until the market proves otherwise so im looking for a strong rally ultimately to fail at the 1350 high set earlier this year then falling rapidly then leading to QE3. And if Im wrong and it goes beyond 1350 and rally looks like it has legs, well its risk on again now back to work! haha Last edited by wuzupfoo; 06-21-2011 at 05:49 PM.. |
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06-22-2011, 04:20 AM | #1418 |
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06-22-2011, 11:21 AM | #1419 | |
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I think we rally for next week or two....looking for ES target of 1320...we either pull back at at this level but if mkts accept prices above this level we will rally for rest of yr and make new all time highs in the mkts.
http://screencast.com/t/XZn5GHfM1nse Quote:
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06-22-2011, 02:06 PM | #1420 | |
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Quote:
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06-22-2011, 05:00 PM | #1421 | |
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Quote:
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06-23-2011, 01:38 PM | #1424 |
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No QE3 hint is precisely why its going nowhere. Commodities are a poor hedge when overall economy is about to tank.. slv is better for when things are heating up, inflation wise, with deflationary head winds coming precious metals are not the ideal hedge.. but wait till QE3 ... it will take off!
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06-23-2011, 01:47 PM | #1425 | |
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If you want to hedge long positions, either buy deep in the money SPY puts or ZSL, which is a double inverse short silver etf. |
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06-23-2011, 02:36 PM | #1427 |
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