Monday, September 22, 2008

Out

Well, it looks like we are going straight to 1200-10 without a rally first so I sold my 1 unit at 1219.50. 

5 comments:

Anonymous said...

there were large volume & price spikes up in dec. bonds just before 3 pm but the prevDaylow price held afterward.

Solrac

Anonymous said...

SOMETHING IS CHANGING CARL
sorry for caps . what im seeing is
the price objectives are being hit
yet the time componant is getting shorter and shorter . to add to this the shorts are out which leaves us with out a catylist going forward . i do agree that we should head higher but i have yet to take a firm stance just yet .
early october is the next turn
and while i faovr the market going higher into this day . im begining to consider that the cycles are changing . if early october becomes a low ( like a new lower low ) most likely this would bring in some oversold extremes . not something i favor but something im considering . presently my cycles are pointing higher into early ocober and have an 81 percent accuracy for the year so im not going to fight them yet i am also following some bearish cycles which also call for a reactioon high on oct 1 and then head lower
at some point this cycle will need to change to give me more of a bullish bias . this happend back in 2006 which is why i bring it up today . the spx today has done nothing to prove my skeptism correct . yet anticipation of the markets direction is something i always pay attention to as seeing the market fail is in my opinion just as important as seeing it prove correct . and todays decline
was just a few points ( 4 spx points ) out of what i was expecting .to add to this the bounce in gold satisfied price yet the seasonals are bullish in to january . crude oil price on this bounce was satisfied yet the timing componanat again is way to short . this leaves me somewhat mixed and also gives me the feeling that we are in for less and less volitility rather then more and more . lastly under elliott wave theory when you get to the point of recognition ( wave 3 of 3 ) the masses tend to be on the right side so the magazine covers become more and more a sign of conviction and less of a contrary indicator . i think for me im at the point of just keeping my eyes open to what ever the market brings . bullish or bearish
im going to keep myself hedged untill thepicture proves itself .
a rally tomorrow from the open to 1284 on the spx cash index would do alot to give me some confidance
a failu to rally would leave me thinking the cycles have indeed changed and that leaves early october as well as mid october the key cycles going forward .
good luck
joe

Anonymous said...

then, what's your analysis for? Tons of daytraders trade like this w/o so called "analysis".

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Anonymous said...

using carl as a contrarian indicator would not be too bad for your account balance