Thursday, August 27, 2009
1010 - 1044 range bound until September 7th in my opinion....
I don't see much occurring until maybe September 4th (next friday)
We are still in vacation season, very low volume moves.
Wednesday, August 26, 2009
Thanks everyone, sorry haven't made many updates lately but not doing anything is also a position in the stock market, having cash is a position in itself !
So I'm expecting the market to kick around these levels until September 7th, I see us coming close to 1044 on the upside and 1010 on the downside until September 7th.
Friday, August 21, 2009
Unemployment Rates Rose in 26 US States in July (link)
Jobless recovery? Don't bet on it...
1044 is our line in the sand folks, the rally has been pushed out to 6 months from March lows, September 7th is now the top near 1044 on S&P. Expect minor pullback from these levels and then up to 1044 by September 7th.
Guess what labour day is September 7th, this is when the big boys come back from their summer vacations, this is when the major trend (down) will commence, this is still a bear market folks.
Wednesday, August 19, 2009
979.50 low on futures right now.... we are testing yesterdays lows, if we break it then 975 is a given, if we break 975 then we could head to 950 fairly quickly but I don't see this just yet.
Ohya that little place called China, well its down 20% already since its highs less than a month ago! Welcome to the next wave down on this bear market, China is a leading indicator for the world right now.
Tuesday, August 18, 2009
Sunday, August 16, 2009
I'm expecting significant sell off this week, we topped out back around the date I said, alot of distribution has been going on around these levels the past few weeks. I'm expecting 950 to come for the next swing low, we might go back up and test over 1K again during start-to-middle of september before a further selloff to under 800 later in the year.
Friday, August 14, 2009
Wednesday, August 12, 2009
Tuesday, August 11, 2009
Wednesday, August 5, 2009
Tuesday, August 4, 2009
I was away all weekend, and Monday was a holiday here in Canada.
So we have broke 1K, I am not surprised, I believe we are putting in the top this week, and if you do not have shorts you will not be greatly awarded, at this point we cannot sustain this pace of rally, whenever you have huge ramp jobs they always fail, look at history.
So Sol over @ Xtrends blew up his account, and I'm sure Atilla has too, he just doesn't have the cohones to say it. I told them to go long after the 666 bottom and that we would most likely go to 999, but they didn't believe me and banned me from their website. Always take precautions when gambling with large amounts of money, the market will make and break people over the course of their lives (doesn't matter who it is, traders will always have to be humble to come out alive)