June S&P E-mini Futures: Today's range estimate is 1168 – 1180. I think a strong move upward has started. The ES should reach 1200 in April on its way to 1225 or so.
1165.25 -1171 actual yesterday (5.75 points) 1172.50 high last night 1168-1180 estimate for today (12 points) 1170.25 currently, so estimate is -4.25 to +7.75 from here (bullish)
Thanks for stopping by TraderJohn… and welcome to the matrix. We need all the original thinkers we can get, so post more often and join in the discussion when you can.
You will find everyone here friendly and intelligent. By the way, your post was very informative. It's nice to see others waking up and see the truth.
Hey everyone, I come here and to other blogs as a way to get some kind of therapy , it calms me to read intelligent posts from real traders and not idiotic investors and fund managers.
I'm a bear at heart and believe the the entire worlds financial system will collapse in 10 to 15 years.
I been trading from home full time for 5 years. I was 50% to 200% short at the beginning of Jan 08 and covered just before the elections. I was holding, C,LEN,HIG,M to name a few.
The run up in 09 took me by surprise. I didn't make as much as 08 but I did learn some things I'll never forget.
1- it's in everyone's best interest to have markets rise. Fund managers will lie P/E's of 30 to 80 are normal,the government will spin economic reports -omit food and energy from inflation , are you kidding me? unemployment reports ,add census workers, add cash for clunkers to the GDP ect ect.. you get my point.
2- the PPT does exist
3- when the dollar gets weaker it's bullish for the market , when it gets stronger it doesn't matter.
4- when multi year support is broken it's a bear trap.
5- bad reports are great because it's not as bad.
6- new traders and investors will end up broke in the future “buy the dip ” it's easy man!
7 – SPX support and resistance does not matter, I follow the NAS and RUT , from now on.
8- what caused the pull back? never mind support and resistance in this BS bull market…. yep, took me a year of 09's BS to get that into my head. for example, in Jan this year when we were crashing ( I shorted lightly BTW ) I wrote down the 3 things that caused the pull back, Greece, Obama's bank reform, and Bernanke's reappointment . I put the post it note on my monitor and it was January 29th when I covered because all 3 of these were taken care of or starting to get ignored, on Feb 4th, I went long 25% in, the 5th when JPM bought up the whole market that Friday I went 50% and 100% all in when we hit 1010 on the SPX or 2250 on the NAS.
I'm all in cash now, hoping for a pull back, and run into earnings, if AA, and INTC report and act like that did last quarter, “go down” I will be shorting very heavy on that day.
also, for this Fridays employment report, I heard a guy on the floor today suggest if it's a good number the markets will go down because interest will soon rise because everything is better!! and if they don't get 250k and it's like 100 k or less a double dip could be in the works!!!!
TNA remains a WAIT (wait for some kind of buy signal). The sell was at $55.61. TNA closed today at $55.38, down 0.4% since the sale. The candlestick today was a White Spinning Top Candlestick (complete indecision between Bulls and Bears).
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $7.06, up 0.28% since the buy. The candlestick today was a doji (a tug-of-war between buyers and sellers).
Two 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, now up 0.28%
For that matter, recent TNA Buy signals have also been uninspiring: Buy at $55.36, sell at $55.43 Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs: (Market positive): Not very reliable BUY-IF: UWM(2x), URE(2x), IYR(1x) Wait: DRV (-3x), SRS(-2x) Highly reliable BUY-IF: SPY, DIA Hold: IWM(1x), DRN(3x) BUY-IF: QQQQ (Bullish Homing Pigeon Pattern, not very reliable, followed by Doji)
Never heard of super computer scanning… But hey … there are 'trader sentiment indicators' that are supposed to be contrarian! How does that work! Traders trading contrary to their opinion… !!! Amusing … but probably true…
Good Morning, Gcocks. I'm all cash myself. Noticed the full moon last night. Officially it's today at 1:30 PM eastern.
Good Morning earl, Thanks for the update. Enjoying being in cash for a change.
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1168 – 1180. I think a strong move upward has started. The ES should reach 1200 in April on its way to 1225 or so.
1165.25 -1171 actual yesterday (5.75 points)
1172.50 high last night
1168-1180 estimate for today (12 points)
1170.25 currently, so estimate is -4.25 to +7.75 from here (bullish)
Sounds like buy the dip would be a better option. Enjoyed reading all the post here tonight.
Hi TraderJohn. Nice post I went all cash Friday. Crazy market.
Thanks for stopping by TraderJohn… and welcome to the matrix. We need all the original thinkers we can get, so post more often and join in the discussion when you can.
You will find everyone here friendly and intelligent. By the way, your post was very informative. It's nice to see others waking up and see the truth.
Red
TraderJohn,
Could you add a comma or a period or something to #6 above. Not sure what you intended to mean.
Hey everyone, I come here and to other blogs as a way to get some kind of therapy , it calms me to read intelligent posts from
real traders and not idiotic investors and fund managers.
I'm a bear at heart and believe the the entire worlds financial system will collapse in 10 to 15 years.
I been trading from home full time for 5 years. I was 50% to 200% short at the beginning of Jan 08 and covered just before the elections. I was holding, C,LEN,HIG,M to name a few.
The run up in 09 took me by surprise. I didn't make as much as 08 but I did learn some things I'll never forget.
1- it's in everyone's best interest to have markets rise. Fund managers will lie P/E's of 30 to 80 are normal,the government will spin economic reports -omit food and energy from inflation , are you kidding me? unemployment reports ,add census workers, add cash for clunkers to the GDP ect ect.. you get my point.
2- the PPT does exist
3- when the dollar gets weaker it's bullish for the market , when it gets stronger it doesn't matter.
4- when multi year support is broken it's a bear trap.
5- bad reports are great because it's not as bad.
6- new traders and investors will end up broke in the future “buy the dip ” it's easy man!
7 – SPX support and resistance does not matter, I follow the NAS and RUT , from now on.
8- what caused the pull back? never mind support and resistance in this BS bull market…. yep, took me a year of 09's BS to get that into my head. for example, in Jan this year when we were crashing ( I shorted lightly BTW ) I wrote down the 3 things that caused the pull back, Greece, Obama's bank reform, and Bernanke's reappointment . I put the post it note on my monitor and it was January 29th when I covered because all 3 of these were taken care of or starting to get ignored, on Feb 4th, I went long 25% in, the 5th when JPM bought up the whole market that Friday I went 50% and 100% all in when we hit 1010 on the SPX or 2250 on the NAS.
I'm all in cash now, hoping for a pull back, and run into earnings, if AA, and INTC report and act like that did last quarter, “go down” I will be shorting very heavy on that day.
also, for this Fridays employment report, I heard a guy on the floor today suggest if it's a good number the markets will go down because interest will soon rise because everything is better!! and if they don't get 250k and it's like 100 k or less a double dip could be in the works!!!!
good luck
The Daily view from Americanbulls
TNA remains a WAIT (wait for some kind of buy signal). The sell was at $55.61. TNA closed today at $55.38, down 0.4% since the sale. The candlestick today was a White Spinning Top Candlestick (complete indecision between Bulls and Bears).
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $7.06, up 0.28% since the buy. The candlestick today was a doji (a tug-of-war between buyers and sellers).
Two 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, now up 0.28%
For that matter, recent TNA Buy signals have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs:
(Market positive):
Not very reliable BUY-IF: UWM(2x), URE(2x), IYR(1x)
Wait: DRV (-3x), SRS(-2x)
Highly reliable BUY-IF: SPY, DIA
Hold: IWM(1x), DRN(3x)
BUY-IF: QQQQ (Bullish Homing Pigeon Pattern, not very reliable, followed by Doji)
(Market negative):
Wait: TNA (3x)
Hold: RWM (-1x), TWM (-2x), TZA (-3x)
Action for Monday: none
Never heard of super computer scanning… But hey … there are 'trader sentiment indicators' that are supposed to be contrarian! How does that work! Traders trading contrary to their opinion… !!! Amusing … but probably true…