Thursday, June 13, 2024

Still Hanging On…

The bulls recaptured lost ground today, as the weekend allowed the media to spin the Goldman Sachs story as a non-event.  We know differently, as where there is one roach... there's always more!  Nothing is ever easy in trading, and you can bet that this coming correction is going to be full of bounces along the way.

Looking at the 60 minute chart of the SPX, you can clearly see that we finally busted out of the trendline from the 1044.50 low.  We are now in "backtest" mode, and will likely try to recapture the trendline tomorrow by closing inside it once again.

The-Chart-Pattern-Trader-spy-60-minute-04-19-2010

That doesn't mean it's over for the bears, as the daily chart tells a different story.  Looking at it, you can see that the -DI line (in Red at the top of the chart) has clearly spiked higher from Friday's sell off.  The +DI (in Green) is also losing power and pointing down.  You can see that the RSI has dropped out of the "above 70" range, which means the up trend is losing steam.  I'd like to see it fall below 50 for me to confirm that the bears are in control, but it's a start at least.

The-Chart-Pattern-Trader-spy-daily-04-19-2010

So, at this point, I'm not going to say that we aren't going back up and make a new high, as it still could happen, but the odds are slowly going down.  We could have another sideways, wild swing, up and down movement similar to the November 9th to Mid-December time period.

I don't think that will happen, but it is possible.  It really depends on what the "powers that be" want to do at this point in time?  Do they want to go straight down to the fake print around 10,000, or drag it out sideways, and run up to 11,816 first.

Personally, I believe that the release of the news on Goldman was just a start of the coming news to be released over the next few weeks.  I can't be sure, but if I recall what was "in the news" during that sideways chop fest in November and December... it wasn't anything majorly negative.

That makes me lean more on a quick 3-4 week sell off, as they didn't just release this news on Goldman for a one day event... at least I don't think they did?  I'm sure it's possible, but usually they toss a bunch of negative news out there when they want to sell it off, and then pump positive news when they want to rally it up.

Bottom line here... it's all about what news and earnings come out this week.  If they make them positive, the market could chop sideways for weeks, until it finally pops out of the range and goes on up to 11,816.  Or, they could dump all the bad news over these next few weeks, and cause the sell off.

I'm sure that Goldman wanted their stock to tank, so they could buy it back cheaper.  Who knows how much phantom stock they sold to the public?  If you read the story Matt Taibbi published, that I put up on yesterday's post, you will see how they borrowed shares that didn't exist, so they could bankrupt Lehman Brothers.  I'm sure this is a common occurrence for them.

But, at some point, the phantom shares must be put back into the phantom vault.  That's probably why they tanked their own stock, so everyone holding shares of it would sell them at the "now heavily discounted" price.

In a way, it reminds me of a friend of mine that owned a "buy here, pay here" car lot.  People would buy the car at over inflated prices, (because they had bad credit), and then pay higher then normal interest rates, with payments on a weekly basis, instead of monthly.  Once they missed a payment, he would repossess the car, which would then be sold again to another sucker.

He got the car back at a discount, because the person did pay some of the weekly payments, and of course some type of a down payment.  He could re-sale the same car multiple times, and do the same thing every time.  Some cars he re-sold 7-8 times!  He made a good living that way.  Of course the difference between his business and what wall street does to the average investor, is that the people that buy the car do know the risks, and the late payment results.  Wall Street lies, cheats, manipulates, and does flat out fraud to steal peoples' money.  Big difference there...

Anyway, I'm expecting an up day tomorrow... but hopefully not too far up.

Red

Red
Author: Red

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steveo77
14 years ago

RDL, I posted bullish chart of chart, that surely means the end of the known universe. hehe

http://oahutrading.blogspot.com/2010/04/chart-o

monicadern
monicadern
14 years ago

Great charts Red. This is so annoying!

sundancer390
sundancer390
14 years ago

Keeping an eye on GS daily setup is probably not a bad idea…
http://www.flickr.com/photos/47091634@N04/45378

the 155 area on friday & yesterday was important because of yellow containment. GS first started dancing with yellow containment back on 8.5.2009.
You'll also notice @ the close yesterday that GS backtested light blue containment that held GS during the Jan/Feb low.

Red Dragon Leo
14 years ago
Reply to  sundancer390

I'm not sure what that meant yesterday with the Dow closing at 11,092, and last week the spx closing at 1192, as I can't make out any 666 from it… but it's quite clear as 911.

The games they play are annoying…

monicadern
monicadern
14 years ago
Reply to  sundancer390

Yes, and now up substantially in premarket. Thanks Sundancer.

Earl of
Earl of
14 years ago

Carl’s morning call:

June S&P E-mini Futures: Today's range estimate is 1195 – 1208. Yesterday's late rallied continued to the 1203 level early this morning. It was much bigger than I anticipated and was uncorrected. This leads me to conclude that yesterday's 1180 low ended the correction from 1180 and that a swing to 1270 is now underway.

1179.75–1194.50 actual yesterday (14.75 points)
1203 high last night
1195-1208 estimate for today (13 points)

1200 currently, so estimate is -5 to +8 from here (somewhat bullish)

Red Dragon Leo
14 years ago
Reply to  Earl of

You know Earl…

It's great that you post the bullish side from Carl, as everyone knows I'm primarily bearish. I will eventually go long, but I'll won't do so until I see a correction first.

So do continue to post, as I want give people both sides of the story. (I'm wrong most of time anyway! LOL).

Earl of
Earl of
14 years ago
Reply to  Red Dragon Leo

I really haven't made up my mind about Carl yet. He does fairly well sometimes, but his trading lately, on the days that he takes a trade, has been not so great.

He also changes his mind a lot, which I think is a strength. I never thought of Carl as being opposite of you — or anyone — he is just Carl. Do let me know if it's bugs you seeing his stuff — not trying to do more than give people something to bounce off of.

Red Dragon Leo
14 years ago
Reply to  Earl of

No, no…

That's the point I'm telling you. Keep posting. I want this blog to be fair to both sides. Remember, the market makers don't care if you are bullish or bearish. They take money from both sides.

So it's good to hear the other side. People that read the blog are also trying to make money, besides just hearing me bitch about all the corruption. If that means they need to go long, then that side needs to be heard.

The blog is open to all posters… both bulls and bears. I do pick on the bulls a lot, but never a real person.

I remember a year ago, before I started this blog, how Mole would bitch people out, and even ban some, for posting bullish charts. I don't think he's as bad about that anymore.

But anyway, I don't want this blog to be unfair to anyone. Everyone can have their say. So do continue posting. I'm sure there are silent readers that gain some benefit from it.

I'm primarily here the for the entertainment… as my trading skills are not exactly great. LOL.

dreadwin
14 years ago
Reply to  Earl of

I think you just invoked the cosmic whammy un-jinx on Carl and now he will have a great trading day.

Earl of
Earl of
14 years ago
Reply to  dreadwin

He is due for a good day, and he doubled up. Probably means we go higher.

monicadern
monicadern
14 years ago

gapped up above 120.30. Guess we are going to 121.03.

sundancer390
sundancer390
14 years ago
Reply to  monicadern

been out all morning, SPY almost tested 121.03

monicadern
monicadern
14 years ago
Reply to  sundancer390

Do you think it still needs to?

monicadern
monicadern
14 years ago

GS selling hard though.

sundancer390
sundancer390
14 years ago
Reply to  monicadern

9:42est 158 print

monicadern
monicadern
14 years ago
Reply to  sundancer390

Thanks Sundancer – I guess we are going lower.

sundancer390
sundancer390
14 years ago
Reply to  sundancer390

3:21est
GS new LOD

Earl of
Earl of
14 years ago

Carl just went long one unit at 1199.50

bear/bull
bear/bull
14 years ago

aapl dropping

dreadwin
14 years ago

Alphahorn posted this on his blog. I'd advise that you don't watch if you're short from yesterday.

http://www.youtube.com/watch?v=RIfzVEreB_I&feat

Earl of
Earl of
14 years ago
Reply to  dreadwin

I watched it anyway 🙂

dreadwin
14 years ago
Reply to  Earl of

I think it is hilarious. It would be less so if I was losing money today.

Earl of
Earl of
14 years ago

Carl just went Long second unit at 1199.75

sundancer390
sundancer390
14 years ago

operators dumping the $VIX into expiration tomorrow

Red Dragon Leo
14 years ago
Reply to  sundancer390

There must be too many calls that they want to expire worthless. That's probably why the market is rallying today.

bear/bull
bear/bull
14 years ago

Too bullish to me. Down tomorrow. imo

http://stockcharts.com/h-sc/ui?s=$NYUPV:$NYDNV

sundancer390
sundancer390
14 years ago

Some general observations:

1. 8 trading days left in the month, currently there are major violations given the current setup on $RUT/IWM & $DJI/DIA
2. $DJI is @ it's last daily containment pt. 11,137
3. large entity is suffocating the bid on GS
4. E-wavers think mkt. is going up, TA enthusiasts think mkt. is going up, Cycle gurus mkt. going up
5. the tape is being heavily painted

So what does all this tell me: keep an open mind to the market treading water in a tight range for a while should a large expansion in volatility not commence very soon.
the odds of a deep retracement are getting lower by the day, given the setups on the monthly

Red Dragon Leo
14 years ago
Reply to  sundancer390

Thank goodness I carry around a large jar of Vaseline with me. It won't hurt as bad when they stick it too me again!

SC
SC
14 years ago

The bullish trend is still largely intact. Strong rally typically doesn't just roller overnight. A parabolic rise typically eperiences a stall. Rebounce. Failure. And resumption of decline.

Despite the Friday sell off, the damage has yet to establish a confirmed sell. What we have is more components turning bearish. What we need now, is a followthrough decline to move everything firmly into the “sell” territory. That will resolve all those overbought situations and reset the tone, and set up a nice buying opportunity, before the credit crisis raises its ugly head again. All of the banks are reporting fake profits based on reduced loss reserve. They are cooking the books, hoping that everything will turn out ok in time. The Audacity of Hope, indeed.

If there is no followthrough, then the intact bullish structure will just mean the melt up resumes to the cliff of madness. A possible but lower probability outcome.

In sum, waiting for the market to resolve itself.

sundancer390
sundancer390
14 years ago

Here's a monthly view of the triple knot the $SPX is currently running into:
2 containment pts. & the triple 21 ENV
http://www.flickr.com/photos/47091634@N04/45386

Red Dragon Leo
14 years ago

Well gang, since the market is just boring me too tears, I'll post a video that Anna wanted me to put up for those in OBB to see. It's a new kitten that someone dropped off at her house that was abandon.

Anna takes care of lot's of animals, and of course took in another stray, as she couldn't bare the thought of an animal shelter not finding a home for him and having to put him to sleep.

Here's a short video of Ziggy…

http://reddragonleo.com/wp-content/uploads/2010

Earl of
Earl of
14 years ago
Reply to  Red Dragon Leo

Red,

I was afraid to say anything about the cat, lest someone figure out where I live and mail it to me:)

Red Dragon Leo
14 years ago
Reply to  Earl of

You're bad Earl… too funny. 🙂

I can't adopt every animal I see like some people do, but I have compassion for helpless ones.

Anyway, I just thought I'd break up the boredom.

Red Dragon Leo
14 years ago
Reply to  Red Dragon Leo

Ok gang, I used another program to remove the advertisement from the video, and add a frame with a start and stop button. I uploaded it to Anna's site too, (as it's her kitten).

I thought I'd get some type of response from you guys (and gals), but it seems you are all harden traders, and could care less about a helpless animal.

Come on gang… at least you could say “cute kitten”, or something? I know you all still have soft spots in your hearts. He would have died without Anna taking him in. Show Ziggy a little love guys.

Even the toughest men like pets. Here's a better video…

http://www.hotoptionbabe.com/ziggy

Earl of
Earl of
14 years ago

Carl just sold longs at 1202.50

monicadern
monicadern
14 years ago

Been out for most of this torturous day. It could go up, it could go down, it's impossible to tell!

Earl of
Earl of
14 years ago

Carl at day’s end:

1195-1208 estimate for today (13 points)
1197–1205 actual today (8 points)
Today stayed in Carl’s range by 2-3 points.

Trades:
In /ES at 1199.50, out at 1202.50 (gain of 3 points)
In /ES at 1199.75, out at 1202.50 (gain of 2.75 points)

Grade: B (made some money)

Earl of
Earl of
14 years ago

TZA opened down 1.4%. Today’s gap was not filled. TZA was down 0.1% at the high, and closed down 4.0%.

Unfilled gap: $6.14 – $6.15

We are now in a New Moon Trade, which tends to favor TZA
AmericanBulls had TZA with a BUY-IF signal for today. Under AmericanBull’s BUY-IF rules, TZA would not have been a buy today, so this trade remains in cash.

Volume for TZA today dropped from the two previous days, at normal levels today. Neutral for TZA.

$RVX (VIX for $RUT) closed down 8.3% with TZA down 4.0%. No divergence.

TZA was down for 6 days, up for 2 days, and down today. Bad for TZA.

The low for TZA 3 days ago was $5.80, the lowest TZA price ever. Today’s low was 9 cents higher. Good for TZA.

Ultimate Oscillator for TZA fell for 9 days to 23, then rose for 2 days to 29, then fell today to 28. Bad for TZA.

MACD on the monthly chart has been flat far below zero for days, and remains that way today. Bad for TZA.

Bollinger Bands for $RVX (VIX for $RUT): Today’s long black candle closed above the bottom Bollinger band. MACD seems to be heading back down. Looks like $RVX might rise tomorrow. Bad for TZA.

Bollinger Bands for $RUT: Today’s white candle for $RUT returns $RUT near its high, but away from the upper Bollinger band, which is rising. MACD might be topping. Bad for TZA.

Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s white candle rose to close below the upper Bollinger band. The upper Bollinger Band rose today. Two days after what appeared to be a successful 3-day sell signal, not so sure the sell signal worked. Bad for TZA.

TZA had a lower high, lower low and lower close – Bad for TZA.

Money flow for the Total Stock Market was $5,934 million flowing out of the market 2 days ago, $1,037 million flowing out yesterday, and $364 flowing in day. Bullish – Bad for TZA.

I will post the AmericanBulls candlestick interpretation a bit later.

Overall, it looks bad for TZA.

monicadern
monicadern
14 years ago

AAPL reports 3.33 vs. 2.45

Red Dragon Leo
14 years ago
Reply to  monicadern

We also hit the 121.03 spy into the close. It was 121.06 at 4:00 pm est. Of course we are higher now on Apple news.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

I saw that. I don't know what to make of any of this.

Red Dragon Leo
14 years ago
Reply to  monicadern

Yeah… it's seems everything is coming up roses now!

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

Seems like it has been since I started going short!

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

Do you know when it reopens for trading?

bear/bull
bear/bull
14 years ago

Did AAPL lower giudance?

monicadern
monicadern
14 years ago
Reply to  bear/bull

Apple (AAPL): Q1 EPS of $3.33 beats by $0.88. Revenue of $13.5B vs. $12B. Sees Q2 EPS of $2.28-2.39 vs. $2.70, on revenue of $13B-13.4B vs. $12.97B. Sold 2.94M Macs (up 33%), 8.75M iPhones (up 131%), 10.89M iPods (down 1%). Shares halted just before release.

monicadern
monicadern
14 years ago
Reply to  bear/bull

Yes but they always do.

Red Dragon Leo
14 years ago
Reply to  monicadern

I still don't know why trading is halted?

sundancer390
sundancer390
14 years ago
Reply to  Red Dragon Leo

the bulls are having a orgasm

Red Dragon Leo
14 years ago
Reply to  sundancer390

Well the bears are having a heart attack then…

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

what else is new.

sundancer390
sundancer390
14 years ago

AAPL 260's LOL!!!!!

Do I hear 300
Do I hear 325
Do I hear 990!!!!!!!!!!!!!!!!

Red Dragon Leo
14 years ago
Reply to  sundancer390

How about an even One Thousand for this gorgeous Red Tulip?

sundancer390
sundancer390
14 years ago
Reply to  Red Dragon Leo

while the bulls are having orgasms over AAPL

“someone” continues to suffocate the bid on GS, walking it down AH to the low 159's.

Red Dragon Leo
14 years ago
Reply to  sundancer390

Sounds like someone big is trying to get off the Titanic before she sinks…

sundancer390
sundancer390
14 years ago
Reply to  Red Dragon Leo

how would you like to be a institutional investor with GS as one of your largest holdings

All those sucker hedge fund clowns thought GS was a ATM machine that only goes up

Red Dragon Leo
14 years ago
Reply to  sundancer390

If that's who's holding Goldman down, then it could take weeks to unload all their shares (doing it a little at a time, so it doesn't tank on them).

That also means that they would like to see the overall market stay up, while they unload Goldman. If one of those clowns tries to unload too much on any given day, a technical sell level could be hit on Goldman and cause the bot's to kick in.

It's going to be very touchy for the next few days, and weeks. One mistake by a hedge fund could cause the sell off we've been looking for.

dreadwin
14 years ago
Reply to  Red Dragon Leo

I think we hit it soon enough anyway. If we get over the previous SPY high tomorrow, the bots are going to get us to the next retracement level. Everyone and their mother is looking at the 1228 ish level, right?

Red Dragon Leo
14 years ago
Reply to  dreadwin

Meaning that we either fall short of it, or blast above it… Which one is the question I'd like to know?

dreadwin
14 years ago
Reply to  Red Dragon Leo

The last one was at 1120, and we hit 1150. Springheel jack has a great IHS chart on /ES:

http://www.screencast.com/users/springheel_jack

Turbo Tim
Turbo Tim
14 years ago
Reply to  sundancer390

Cramer $1000 target

dreadwin
14 years ago

Some of the moves I saw in the afternoon are making sense now — the entire market was holding its breath, waiting for AAPL to release earnings. Unlike GOOG, this does not seem to be a “sell the news” event. Even oil is going up.

Red Dragon Leo
14 years ago
Reply to  dreadwin

Dreadwin,

Was you long on Apple? If so, you made a good call.

dreadwin
14 years ago
Reply to  Red Dragon Leo

I don't touch AAPL. Been burned too many times. I forget sometimes that everyone else uses it as a barometer of the consumer economy.

Turbo Tim
Turbo Tim
14 years ago
Reply to  dreadwin

But their guidance for future was down.

dreadwin
14 years ago
Reply to  Turbo Tim

They're always super-conservative with guidance. That way everyone can pump their stock after earnings.

Turbo Tim
Turbo Tim
14 years ago

Seems like they are in a hurry to sell the shares as promised to their buddies. GS had BAC $20, JPM$50 still pending. Other than that AAPL price had a target $262. JPM had RUT to be 690 target price, the rest is short squeeze. Seems like top is imminent to me

sundancer390
sundancer390
14 years ago

How many of you remember the dry bulk stocks during 2006-2007?

Red Dragon Leo
14 years ago
Reply to  sundancer390

Can't say I do? What happened?

sundancer390
sundancer390
14 years ago
Reply to  Red Dragon Leo

http://www.flickr.com/photos/47091634@N04/45385

$8.5 to $131 to $2.72

fund managers got completely destroyed

forex_cat
forex_cat
14 years ago

Hello. I am forex-cat.

Your blog is very interesting.
Thank you.

…my blog:
forex chart analysis and a cat

Red Dragon Leo
14 years ago
Reply to  forex_cat

You should join in and chat with others Forex_Cat. Everyone is easy to get along with, so don't be shy.

Not that I care if you promote your blog, as I did add you to my blogroll, but it's considered rude by most bloggers to simply put your blog link on someone's site, without contributing something.

Since you are Japanesse, and maybe in a different time zone, I understand you not being here all day. But please do comment from time to time. I added a translate link for my blog for you. I don't know if you can translate these Disqus comments, but hopefully you can read everything OK.

The way to get traffic to your site is to post helpful charts and news events on other blogs while you chat with them. You probably know more about the Japanesse market then most of us do, so maybe you can keep us informed?

bear/bull
bear/bull
14 years ago

I'm expecting a black candle on AAPL tomoorow

monicadern
monicadern
14 years ago
Reply to  bear/bull

You may be right but what makes you think that?

bear/bull
bear/bull
14 years ago

yhoo tanking now

Earl of
Earl of
14 years ago

The Daily view from Americanbulls

TNA had a SELL-IF signal today, and that signal expired without a SELL signal, so TNA is a Hold for tomorrow. The TNA buy was at $56.50. TNA closed at $65.10, up 15.2% since the buy. The candlestick today was a White Candlestick (normal buying pressure).

TZA had a highly reliable BUY-IF signal today, and that signal expired without a BUY signal, so TZA is a Wait (for a signal) for tomorrow. The TZA sell price was $6.51. TZA closed today at $5.91, down 9.2% since the sell. The candlestick for today was a Black Candlestick (normal selling pressure).

Three recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, sell at $6.51

For that matter, recent TNA Buy signals (until this last one) have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Buy at $56.50, up 15.2%

Summary of Positive $RUT based ETFs & a few popular ETFs & stocks (Market positive):  +13
Hold: IYR(1x RE, up 0.4%), URE(2x RE, up 0.5%), DRN(3x RE, up 5.8%), QQQQ(up 2.87%), DIA(up 1.9%), UCO (2x oil, down 3.1%), AMZN(down 0.2%), IWM(1x, up 5.3%), UWM(2x, up 11.1%), SPY(up 1.5%), ERX(3x energy, up 9.8%), TNA(3x, up 15.2%),
New Confirmed Buy: GOOG

Transition to Market Positive: none

Transition to Market Negative: none

Market Negative:  -3
Wait: USO(oil), GS
New Confirmed Sell: AAPL

Comment: Bullish overall, Bearish Oil, Bullish $RUT, Bullish Real Estate
Action for TNA or TZA for tomorrow: none

monicadern
monicadern
14 years ago

Red, how are the same indicators you posted yesterday looking tonight?

Red Dragon Leo
14 years ago
Reply to  monicadern

Just put up a new post Monica….

monicadern
monicadern
14 years ago

Red, how are the same indicators you posted yesterday looking tonight?

Red Dragon Leo
14 years ago

Just put up a new post Monica….

Earl of
Earl of
14 years ago

The Daily view from Americanbulls

TNA had a SELL-IF signal today, and that signal expired without a SELL signal, so TNA is a Hold for tomorrow. The TNA buy was at $56.50. TNA closed at $65.10, up 15.2% since the buy. The candlestick today was a White Candlestick (normal buying pressure).

TZA had a highly reliable BUY-IF signal today, and that signal expired without a BUY signal, so TZA is a Wait (for a signal) for tomorrow. The TZA sell price was $6.51. TZA closed today at $5.91, down 9.2% since the sell. The candlestick for today was a Black Candlestick (normal selling pressure).

Three recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, sell at $6.51

For that matter, recent TNA Buy signals (until this last one) have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Buy at $56.50, up 15.2%

Summary of Positive $RUT based ETFs & a few popular ETFs & stocks (Market positive):  +13
Hold: IYR(1x RE, up 0.4%), URE(2x RE, up 0.5%), DRN(3x RE, up 5.8%), QQQQ(up 2.87%), DIA(up 1.9%), UCO (2x oil, down 3.1%), AMZN(down 0.2%), IWM(1x, up 5.3%), UWM(2x, up 11.1%), SPY(up 1.5%), ERX(3x energy, up 9.8%), TNA(3x, up 15.2%),
New Confirmed Buy: GOOG

Transition to Market Positive: none

Transition to Market Negative: none

Market Negative:  -3
Wait: USO(oil), GS
New Confirmed Sell: AAPL

Comment: Bullish overall, Bearish Oil, Bullish $RUT, Bullish Real Estate
Action for TNA or TZA for tomorrow: none

bear/bull
bear/bull
14 years ago

yhoo tanking now

bear/bull
bear/bull
14 years ago

I'm expecting a black candle on AAPL tomoorow

monicadern
monicadern
14 years ago

You may be right but what makes you think that?

forex_cat
forex_cat
14 years ago

Hello. I am forex-cat.

Your blog is very interesting.
Thank you.

…my blog:
forex chart analysis and a cat

Red Dragon Leo
14 years ago

You should join in and chat with others Forex_Cat. Everyone is easy to get along with, so don't be shy.

Not that I care if you promote your blog, as I did add you to my blogroll, but it's considered rude by most bloggers to simply put your blog link on someone's site, without contributing something.

Since you are Japanesse, and maybe in a different time zone, I understand you not being here all day. But please do comment from time to time. I added a translate link for my blog for you. I don't know if you can translate these Disqus comments, but hopefully you can read everything OK.

The way to get traffic to your site is to post helpful charts and news events on other blogs while you chat with them. You probably know more about the Japanesse market then most of us do, so maybe you can keep us informed?

sundancer390
sundancer390
14 years ago

How many of you remember the dry bulk stocks during 2006-2007?

Red Dragon Leo
14 years ago

Can't say I do? What happened?

sundancer390
sundancer390
14 years ago

http://www.flickr.com/photos/47091634@N04/45385

$8.5 to $131 to $2.72

fund managers got completely destroyed

dreadwin
14 years ago

I think we hit it soon enough anyway. If we get over the previous SPY high tomorrow, the bots are going to get us to the next retracement level. Everyone and their mother is looking at the 1228 ish level, right?

Red Dragon Leo
14 years ago

Meaning that we either fall short of it, or blast above it… Which one is the question I'd like to know?

dreadwin
14 years ago

The last one was at 1120, and we hit 1150. Springheel jack has a great IHS chart on /ES:

http://www.screencast.com/users/springheel_jack

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