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Started By
Message
1
Posted on 9/22/11 at 11:25 am to Blakely Bimbo
Are we going to blow through S&P 1100 today? Looks bad, but not quite that bad. I would be learry of tomorrow's action. People will not want to hold positions that they do not have strong conviction in over the weekend due to the distinct possibility of more bad news and subsequent selloffs.
Posted on 9/22/11 at 7:33 pm to Baylor
Baylor, I made around $1200 on your tips today and yesterday and only been invested for a month. Thanks man.
Posted on 9/22/11 at 9:28 pm to Flashback
quote:
only been invested for a month.
S&P up .5% over the last month. Congrats.
Posted on 9/22/11 at 9:36 pm to Baylor
quote:
We are arguing over less then 7 points for God's sake
you're just not that good at basic math. even using your new high limit off 1222, it was close to 9 points difference.
Posted on 9/22/11 at 9:45 pm to Baylor
quote:
I said back when we got down to abou 1110 that it would go up again somewhere between 1180 to 1221.
bullshite. At the 1110 range you were saying this:
quote:
Today is a good opportunity to prepare for the the fall down to the 1000 level.
If you have a margin account you can also short
SPY and SSO to put the slippage in your favor.
Im told that we will be hitting the 1000 point mark in as few as 15 trading days.
It wasn't until we were in the midst of a HUGE rally that you came back with your bullshite 1180 at the limit 1220, not 1221 or 1222 or 1230...
This post was edited on 9/23/11 at 11:04 am
Posted on 9/23/11 at 11:01 am to C
are we still going at it here guys?
Posted on 9/23/11 at 11:18 am to Fat Bastard
C just needs to chill. He can't seem to keep his mouth closed. Enough said.
Posted on 9/23/11 at 11:36 am to Teacher
C is 100% right in this thread, FWIW.
Baylor is all about playing revisionist history.
Baylor is all about playing revisionist history.
Posted on 9/23/11 at 12:00 pm to TheHiddenFlask
quote:
Baylor is all about playing revisionist history.
i loathe revisionist history,
Posted on 9/23/11 at 1:08 pm to TheHiddenFlask
quote:
C is 100% right in this thread, FWIW.
But he keeps saying the same thing. Once said is enough.
Posted on 9/23/11 at 1:43 pm to Teacher
quote:
But he keeps saying the same thing. Once said is enough.
and baylor keeps on coming back with different numbers. Is he up to 1223 in his past projection yet?
Posted on 9/23/11 at 3:33 pm to Teacher
quote:
But he keeps saying the same thing. Once said is enough.
And you haven't been? I haven't read half of this thread, but every time I pop in, I see you being this guy.
Posted on 9/25/11 at 9:38 pm to Baylor
Thanks for the update.
Let us know if things change the range.
Let us know if things change the range.
Posted on 9/26/11 at 11:49 am to djmicrobe
Jesus Christ, what a bunch of bitches in this thread. If you think I am referring to you, I probably am.
Posted on 9/26/11 at 11:57 pm to Sid in Lakeshore
Dow up 275, where is Baylor?
Posted on 10/3/11 at 3:08 pm to John Merlyn
S&P closed below 1100 today setting a new low for the year.......it appears we (MAY) have broken through the support.
Where are we going from here?
Inquiring minds want to know!!!!!!!!!!
ETA: to add (MAY) have broken
Where are we going from here?
Inquiring minds want to know!!!!!!!!!!
ETA: to add (MAY) have broken
This post was edited on 10/3/11 at 3:10 pm
Posted on 10/3/11 at 3:16 pm to Sid in Lakeshore
Katie Stockton, chief market technician at MKM is watching levels.
”September was important – we got an important technical signal,” she tells us in a live interview. “
Stockton is referring to something called the MACD Indicator and although it involves somewhat complex technical analysis, the take away is that it has flashed its first sell signal since Dec 2007.
The last time it happened the signal was very prescient. “The December 2007 signal was a precursor to a decline of more than 30% in the S&P,” she tells us. This time she thinks it could be a sign that the S&P slides by another 150 points.
How will you know if the market is about to break in a big way?
Watch 1100, that same level that’s held all summer. “If the market breaks below that level on consecutive weekly closes, then we’re setting up for a prolonged fall,” Stockton says. “Then we’re setting up for 935.”
”September was important – we got an important technical signal,” she tells us in a live interview. “
Stockton is referring to something called the MACD Indicator and although it involves somewhat complex technical analysis, the take away is that it has flashed its first sell signal since Dec 2007.
The last time it happened the signal was very prescient. “The December 2007 signal was a precursor to a decline of more than 30% in the S&P,” she tells us. This time she thinks it could be a sign that the S&P slides by another 150 points.
How will you know if the market is about to break in a big way?
Watch 1100, that same level that’s held all summer. “If the market breaks below that level on consecutive weekly closes, then we’re setting up for a prolonged fall,” Stockton says. “Then we’re setting up for 935.”
This post was edited on 10/3/11 at 3:22 pm
Posted on 10/3/11 at 3:43 pm to Sid in Lakeshore
Yes that sums up what my buddy has been saying.
We hit the eleven hundred mark today. No if's and or
buts about it.
but important to note.
We have not tested it yet.
What I mean is we are still well within the 1100 to 1220ish trading range.
It would not surprise my friend if it test the 1220ish levels yet again.
That is not a prediction. Its just a statement on the fact that all thats happened is we hit the low end of the 1100 to 1220ish trading range that we have talked on for months.
Just like it rallying to 1220 did not mean my friend was wrong. In the same light dropping slightly under 1100 does not make it right yet.
All we have done so far is define the 1100 to 1220ish trading range.
1100 is still the support level.
Until 1100 switches places and becomes the resistance level we are still trading in the same 1100 to 1220ish trading range.
Until it goes under 1100 for a few days or goes higher then 1220ish for more then a few days we have not seen anything significant.
Although we could once again test the resistance level of 1220ish again make no mistake my friend agrees without question that we WILL go under 1100 and stay under 1100 for a good period of time.
Once that happens 1100 will now be the new resistance and somewhere around the 1015 to 990ish level will be the new support.
once the 1100 to 1015/990ish trading range gets established thats when my buddy will be able to tell if we hit bottom or if we are going to have to trade down to at least one more trading level lower.
He has already one hundred % has called for a low of at least 1015/990ish.
but its still slightly too early to predict if that will be the ultimate low and end of the bear market.
The good news is we will have the answer to all those question in plenty of time to make the right moves in the timing of the market.
All I can say is stay tuned.
Or you can keep talking about that one day it traded above 1220 for less then one hour and totally disregard every correct prediction thats been made on this forum since May.
It dont make a difference to me either way.
Happy trading everyone.
Go Tigers
We hit the eleven hundred mark today. No if's and or
buts about it.
but important to note.
We have not tested it yet.
What I mean is we are still well within the 1100 to 1220ish trading range.
It would not surprise my friend if it test the 1220ish levels yet again.
That is not a prediction. Its just a statement on the fact that all thats happened is we hit the low end of the 1100 to 1220ish trading range that we have talked on for months.
Just like it rallying to 1220 did not mean my friend was wrong. In the same light dropping slightly under 1100 does not make it right yet.
All we have done so far is define the 1100 to 1220ish trading range.
1100 is still the support level.
Until 1100 switches places and becomes the resistance level we are still trading in the same 1100 to 1220ish trading range.
Until it goes under 1100 for a few days or goes higher then 1220ish for more then a few days we have not seen anything significant.
Although we could once again test the resistance level of 1220ish again make no mistake my friend agrees without question that we WILL go under 1100 and stay under 1100 for a good period of time.
Once that happens 1100 will now be the new resistance and somewhere around the 1015 to 990ish level will be the new support.
once the 1100 to 1015/990ish trading range gets established thats when my buddy will be able to tell if we hit bottom or if we are going to have to trade down to at least one more trading level lower.
He has already one hundred % has called for a low of at least 1015/990ish.
but its still slightly too early to predict if that will be the ultimate low and end of the bear market.
The good news is we will have the answer to all those question in plenty of time to make the right moves in the timing of the market.
All I can say is stay tuned.
Or you can keep talking about that one day it traded above 1220 for less then one hour and totally disregard every correct prediction thats been made on this forum since May.
It dont make a difference to me either way.
Happy trading everyone.
Go Tigers
This post was edited on 10/3/11 at 4:02 pm
Posted on 10/3/11 at 4:16 pm to Baylor
One other point.
As we have seen from the 1220ish levels.
we hit 1220 3 times in the last several months and went straight down fast right after 3 times in a row.
Now we are at the other end of the range.
Just as there was tremendous resistance at the
1220 level that we saw 3 different times. There is a good chance there is some strong support here at 1100 for the same reasons.
This is why its called a trading range.
Thats the whole point of resistance and support levels.
Eventually one of the 2 will win the tug o war.
When it goes up to 1220 the bulls face an all out war against the bears and pulls it right back down.
When it gets to 1100 the bears face an all out war against the bulls pulling it right back up.
Eventually one side always wins this war and hence a new trading range is established and the war starts all over in the new trading range.
We saw this with 1370 to 1280 when I first started posting here.
Then it went from 1280 to 1220.
Now we are still in the 1220 to 1100 range.
When we got out of this range it will turn into 1100 to 1015/990ish
As we have seen from the 1220ish levels.
we hit 1220 3 times in the last several months and went straight down fast right after 3 times in a row.
Now we are at the other end of the range.
Just as there was tremendous resistance at the
1220 level that we saw 3 different times. There is a good chance there is some strong support here at 1100 for the same reasons.
This is why its called a trading range.
Thats the whole point of resistance and support levels.
Eventually one of the 2 will win the tug o war.
When it goes up to 1220 the bulls face an all out war against the bears and pulls it right back down.
When it gets to 1100 the bears face an all out war against the bulls pulling it right back up.
Eventually one side always wins this war and hence a new trading range is established and the war starts all over in the new trading range.
We saw this with 1370 to 1280 when I first started posting here.
Then it went from 1280 to 1220.
Now we are still in the 1220 to 1100 range.
When we got out of this range it will turn into 1100 to 1015/990ish
This post was edited on 10/3/11 at 4:31 pm
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