I am so confident in the esoteric as well as normal cycles and how things played out today that I bought a couple emini SP puts which I normally do not like to do. Euro had a big down day (the biggest of this rally), crude oil tanked and both didn’t recover with the end of day stock “rally”. Breadth was decidedly negative despite Nasdaq’s big up day. Apple,Google, and QQQQs spent the entire day above their upper Bollinger Bands (check out the last time Apple achieved such a feat—at its April high)Am I supposed to worry about another POMO ramp Monday morning. Will they gap qqqq and Nasdaq furthur above its upper BB band? The released of Chilean miners is a little coded message that commodity top was in and gold approached $1369 level where I imagined a top could be in. Also my cycles guru has a penultimate stock cycle of the year approaching following his other penultimate cycle LOL and lines up with Cramer’s “pain”. Nasdaq 100 bottomed on Nov 21,2008 so I decided to see how many days that is from today and it is 693 so that’s good enough for me. There was a divergence at March 6 2009 low with Nasdaq 100 and overall Nasdaq with the latter making a new low at the March low. Nov 21 and March 6 separated by 105days. I am guessing there is a new high divergence today from April high along the same lines. 172 days between April 26 high and today. 172-105===voila 67 days. I was a little off on the time difference from 1-6-9 highs. It is 646 calendar days fromOctober 14 not 644 from October 13 which is still good enough for me. 46 days from 1-6-9 to Nov 21,2008 and then 42 days to Oct 10,2008. 46+42===88.
McClellan Oscillator looks like it will be in the negative today also. By the way, the Nasdaq made a new high in Oct 1987 while the other indices put in secondary highs.
I see one more week before a really nice correction starts Al. Don’t know how high we will go next week, or if we will or not? But I do believe that by Friday the high will be in. A serious sell off is coming.
well ok interesting day today.Started out on a shaky note then towards midday due to news and POMO stablised a little before going on a downwards slide towards closing.Although i dont like the way things are going it seems to me that its getting a little bit weird in terms of ( Heres the money all of you BUY now ) that didnt seem to work this time round.This points to traders who were on the side lines waiting for long term shorting coming into the picture.I would have liked it to close below 11000 as they seem to be drawing that as the new line in the sand but if they do that then between 11200 and 11000 its gonna be a very tight walk.Overall as things stand i see monday as Red it wont be a huge down movement more of a sideways drifting up again but they are not fooling anyone this time.The Pit of knives has been dug and it seems that this time round the FEDS arent doing such a good job of covering it with leafs.Bulls are turning tail to run but the fence that the FEDS has set up behind them are stopping them from going anywhere.Excuse my ramblings cause as a bear trader every single day that passes now is another shot in the heart for me,it looks to be the (time) to turn once again but ive said that like a month ago will it happen only god and the feds know for me all i can do is hope and pray.
I have a current setup on my indicators that’s repeated 4 times in the last month and led to a great long entry point – question is can it repeat a 5th time
Another try at 1185 coming for end of session. Very difficult market. Next week should be down ,not sure anymore.It all comes down to the dollar next week.
I am so confident in the esoteric as well as normal cycles and how things played out today that I bought a couple emini SP puts which I normally do not like to do. Euro had a big down day (the biggest of this rally), crude oil tanked and both didn’t recover with the end of day stock “rally”. Breadth was decidedly negative despite Nasdaq’s big up day. Apple,Google, and QQQQs spent the entire day above their upper Bollinger Bands (check out the last time Apple achieved such a feat—at its April high)Am I supposed to worry about another POMO ramp Monday morning. Will they gap qqqq and Nasdaq furthur above its upper BB band? The released of Chilean miners is a little coded message that commodity top was in and gold approached $1369 level where I imagined a top could be in. Also my cycles guru has a penultimate stock cycle of the year approaching following his other penultimate cycle LOL and lines up with Cramer’s “pain”. Nasdaq 100 bottomed on Nov 21,2008 so I decided to see how many days that is from today and it is 693 so that’s good enough for me. There was a divergence at March 6 2009 low with Nasdaq 100 and overall Nasdaq with the latter making a new low at the March low. Nov 21 and March 6 separated by 105days. I am guessing there is a new high divergence today from April high along the same lines. 172 days between April 26 high and today. 172-105===voila 67 days. I was a little off on the time difference from 1-6-9 highs. It is 646 calendar days fromOctober 14 not 644 from October 13 which is still good enough for me. 46 days from 1-6-9 to Nov 21,2008 and then 42 days to Oct 10,2008. 46+42===88.
McClellan Oscillator looks like it will be in the negative today also. By the way, the Nasdaq made a new high in Oct 1987 while the other indices put in secondary highs.
This Kelly Chick, is one of those wallstreet gansters–Stay away from her..
http://zstock7.com/wp-content/uploads/2010/10/apol-10-15eps.jpg
I see one more week before a really nice correction starts Al. Don’t know how high we will go next week, or if we will or not? But I do believe that by Friday the high will be in. A serious sell off is coming.
well ok interesting day today.Started out on a shaky note then towards midday due to news and POMO stablised a little before going on a downwards slide towards closing.Although i dont like the way things are going it seems to me that its getting a little bit weird in terms of ( Heres the money all of you BUY now ) that didnt seem to work this time round.This points to traders who were on the side lines waiting for long term shorting coming into the picture.I would have liked it to close below 11000 as they seem to be drawing that as the new line in the sand but if they do that then between 11200 and 11000 its gonna be a very tight walk.Overall as things stand i see monday as Red it wont be a huge down movement more of a sideways drifting up again but they are not fooling anyone this time.The Pit of knives has been dug and it seems that this time round the FEDS arent doing such a good job of covering it with leafs.Bulls are turning tail to run but the fence that the FEDS has set up behind them are stopping them from going anywhere.Excuse my ramblings cause as a bear trader every single day that passes now is another shot in the heart for me,it looks to be the (time) to turn once again but ive said that like a month ago will it happen only god and the feds know for me all i can do is hope and pray.
I have a current setup on my indicators that’s repeated 4 times in the last month and led to a great long entry point – question is can it repeat a 5th time
I meant the Dow rallied without the dollar tanking in unison…
Don’t follow the $ but I do track the EUR and it’s been looking wobbly this week
Dow rallying towards the end without dollar participation. The sheep have been trained.
If the dollar closes lower than yesterday, for the first time in 5 weeks, this could be the turning point.
The week might end down, but Monday looks to be another UP day.
Another try at 1185 coming for end of session. Very difficult market. Next week should be down ,not sure anymore.It all comes down to the dollar next week.