Spiders - December S&P E-mini Futures: Today I shall be a buyer at 1472 using a 25 point stop. Resistance above the market is at 1495. We are in the early stages of a move which will carry above the 1600 level.
QQQQ: The Q’s are headed for 56.00. Support is 50.75.
TLT - March Bonds: Resistance above the market is at 116-28. I think that a drop of 7-10 points is underway. TLT is headed for 87.
March 10 Year Notes: Resistance above the market is at 114-08. I think the notes have started a drop of about 5 points. Next downside target is 111-28.
Euro-US Dollar: I think the euro is establishing a long-lasting top. I think this market is headed for 139.00 before a substantial rally can begin.
Dollar-Yen: I think the yen is headed upward in a multi-month move. Initial upside target is 117.00. Support is at 109.50.
XLE - OIH - USO – January Crude: The market is headed for 79.50. Resistance stands at 92.00. USO should drop to 56, OIH to 155 and XLE to 60 within the next few weeks.
GLD - February Gold: I still think gold futures still have a shot at the 873 level but a drop below support at 780 will mean that an extended decline has started.
SLV - March Silver: I think is now is likely that the 1644 high in March silver will hold and that an extended decline has begun. Support is at 1420.
Google: GOOG has support is at 670. I think the next step up will carry the market to 730.
9 comments:
Your resistance just got blown to bits!!! You'll be lucky to get in at 1490!
Gee, I wish you could have told me that this would happen at 8:55 am instead of at 9:05 am. You did know that it would happen, didn't you???
Carl,
Are you still looking at a high mid January for Three peaks and dome forecast in view of recent market action?
You made 1 decent trade in the past 3 months. All else...HORRIBLE! Don't give up your day job!
"You made 1 decent trade in the past 3 months. All else...HORRIBLE! Don't give up your day job!"
Dear Friend:
Please get your facts straight. I started posted trades on this blog on October 25, 7 weeks ago not three months.
Of the 7 trades I have posted, 2 shoed profits, 2 losses, and three were within a point of breakeven. Net result is a profit of 14.50 points, not great but not a disaster either.
By the way, this is my day job. What about you???
hehe, I have been watching your blog since last week and I can honestly tell you that the reason people question you is because you are trying to predict the market and they have all been drilled to think differently that market is totally random. Good effort on your pat and decent profits as well.. don't reply to any negetive posts as they only fuel more. As long as your making money.. doesn't matter what people think or say. :)
Nice picture anything-goes, but I can't tell if you're a girl or a guy!?
CARL:
You have an awesome blog here. I actually admire you for taking the time to respond to the goof-ball postings. Do you have any thoughts on gaps? i.e. the one this morning was huge! Do you fade them?
Thx for your time and effort!
Rick S
buying YMZ7 13400 - 13487 last.
13350 stoploss
upside target 13750
bought NMX Jan 110 calls, FLR Jan 90 call and looking to get filled on calls for FLS and JEC, also deep in the money Jans. Risking half of premium.
This market is driving me crazy and I am in cash (ok so I am not that upset)
How do you handle this?
BTW, I have a lot of respect for you putting your comments on your blog. Nobody is going to be right all the time. At least you have a lot more guts than peanut gallery.
Although I do hope to convince you this market is rolling over one day. To much bad debt out there.
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