I wish it was that simple SC… Now, if only the “FED” would tell me when they are going to rally the market and sell the market, I'd ride along with them. Unfortunately they don't make it that clear.
The “Tape” is clearly rolling over to the downside now. How can you go long when it points down? What are people to do… throw out TA's and just go long forever?
I don't know the answer, but if I did, I'd certain follow it. If you find out, be sure to let me know. LOL!
Hey Red, Thanks for sharing your market updates and thoughts. I am from the O'Neils school of thinking that the market is a great, collective force that small individual investors simply have to listen and follow – no argument, no predictions, no bitching etc (unless one is the head of $10 billion hedge fund operation!).
So I was skeptical about this government manipulation theory. How does it work? Who is buying to keep it artificially high? May be we can follow the trail of those stocks where this money is pumped into? Or is it limited to currency weakness through excessive money supply, which indirectly inflate stock/commodity prices?
If it is indeed the case where government can have such control, then there is no better time to have such control than now in seeing the markets propped up – at least until the State Of the Union address in January, through continued policy announcements of some sort. Now I'm turning into a believer 🙂
It seems to have played today while I was gone. I guess I didn't miss much. Let's see… were the Retail Sales good? Well, the “Fake Numbers” were… but I'm sure the real numbers are horrible.
But, you can't beat the crooks at their game, in their casino. You just have too try to figure out their next move, and hop on for the ride.
I'll be trying to do just that next week, and will of course post my thoughts here too.
It seems to have played today while I was gone. I guess I didn't miss much. Let's see… were the Retail Sales good? Well, the “Fake Numbers” were… but I'm sure the real numbers are horrible.
But, you can't beat the crooks at their game, in their casino. You just have too try to figure out their next move, and hop on for the ride.
I'll be trying to do just that next week, and will of course post my thoughts here too.
Very good analysis Red. I am net short but I am starting to think we may not get any big moves in the market until after options exp or perhaps January.
However Monday the 14th may be the day. I think it would surprise many people if we had a big down day Monday.
Point taken will heed! Sorry i meant $70 – wish i knew how to post charts here it would be much easier but ive got rising parallel trendlines for CAT bottom is at @$60.88 and top at@$70 because we had shot so low beneath the bottom i thought it was heading south but from what Leo says it sounds more like going to $70
Firstly, what I think is big vs what you think is big does not matter. If you're the trader & it feels big to you, then IT'S BIG. So please go back & review my first piece of advice(this is some painful experience talking here). Enter the position slowly, adding to winners.
re: top of Trendline @ 7000, you HAD been talking about CAT. Are you now talking about the Dow? I'm assuming Dow – my long-term objective is probably around 4500 or lower…….UBER Bear here.
I wish it was that simple SC… Now, if only the “FED” would tell me when they are going to rally the market and sell the market, I'd ride along with them. Unfortunately they don't make it that clear.
The “Tape” is clearly rolling over to the downside now. How can you go long when it points down? What are people to do… throw out TA's and just go long forever?
I don't know the answer, but if I did, I'd certain follow it. If you find out, be sure to let me know. LOL!
Red
Don't fight the FED. Don't fight the tape. — Marty Zweig, a quarter century ago.
The more things change, the more they stay the same. 🙂
Hey Red,
Thanks for sharing your market updates and thoughts.
I am from the O'Neils school of thinking that the market is a great, collective force that small individual investors simply have to listen and follow – no argument, no predictions, no bitching etc (unless one is the head of $10 billion hedge fund operation!).
So I was skeptical about this government manipulation theory. How does it work? Who is buying to keep it artificially high? May be we can follow the trail of those stocks where this money is pumped into? Or is it limited to currency weakness through excessive money supply, which indirectly inflate stock/commodity prices?
If it is indeed the case where government can have such control, then there is no better time to have such control than now in seeing the markets propped up – at least until the State Of the Union address in January, through continued policy announcements of some sort. Now I'm turning into a believer 🙂
Thanks Captain…
It seems to have played today while I was gone. I guess I didn't miss much. Let's see… were the Retail Sales good? Well, the “Fake Numbers” were… but I'm sure the real numbers are horrible.
But, you can't beat the crooks at their game, in their casino. You just have too try to figure out their next move, and hop on for the ride.
I'll be trying to do just that next week, and will of course post my thoughts here too.
Red
Thanks Captain…
It seems to have played today while I was gone. I guess I didn't miss much. Let's see… were the Retail Sales good? Well, the “Fake Numbers” were… but I'm sure the real numbers are horrible.
But, you can't beat the crooks at their game, in their casino. You just have too try to figure out their next move, and hop on for the ride.
I'll be trying to do just that next week, and will of course post my thoughts here too.
Red
Very good analysis Red. I am net short but I am starting to think we may not get any big moves in the market until after options exp or perhaps January.
However Monday the 14th may be the day. I think it would surprise many people if we had a big down day Monday.
Have a great weekend.
The Captain
No specific opinion – I'm more of a macro conviction sort of guy and I'm bearish the world….but Good Luck!
Point taken will heed!
Sorry i meant $70 – wish i knew how to post charts here it would be much easier but ive got rising parallel trendlines for CAT bottom is at @$60.88 and top at@$70 because we had shot so low beneath the bottom i thought it was heading south but from what Leo says it sounds more like going to $70
Firstly, what I think is big vs what you think is big does not matter. If you're the trader & it feels big to you, then IT'S BIG. So please go back & review my first piece of advice(this is some painful experience talking here). Enter the position slowly, adding to winners.
re: top of Trendline @ 7000, you HAD been talking about CAT. Are you now talking about the Dow? I'm assuming Dow – my long-term objective is probably around 4500 or lower…….UBER Bear here.
Thanks for your concern and advice which also is much appreciated – Fear not though I think that my idea of “big” might vary somwhat from your own.
Leo was on the nail though – i have got a top of Trendline at @7,000 do you think it will get there?