tag:blogger.com,1999:blog-12333088.post2960991623768473245..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: Guesstimates on November 13, 2009Carl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-12333088.post-69121904708909236882009-11-13T13:43:39.634-05:002009-11-13T13:43:39.634-05:00The market seems to be building strength, with the...The market seems to be building strength, with the Nasdaq having caught up to the S&P as far as shooting for new highs. This rally that started under the leadership of the DOW has a broader base now.<br /><br />Still there's one concern. Small caps are lagging way behind. The Russell 2000 is still well below the year's high of $62. For this rally to be truly broad based the small caps need to start participating.Billhttps://www.blogger.com/profile/15515218349376008994noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-52106328228214024892009-11-13T12:27:17.707-05:002009-11-13T12:27:17.707-05:00The market is currently not worth trading. It is o...The market is currently not worth trading. It is over-extended against the bulls and rigged and outright hostile against the bears.<br /><br />Top guessing is unproductive. I am willing to miss out on the early part when the trend changes to down.<br /><br />It is best for the bears to step aside and wait for the bulls to exhaust themselves.<br /><br />Quite frankly, I don't care what the bulls do. As per the dictates of the economy, I will not go long in this market and would leave the bulls alone with their rigging, BS and con games. For bears, it is game of patience.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12333088.post-4021408493773142332009-11-13T12:21:39.622-05:002009-11-13T12:21:39.622-05:00Yep, everyone has minute wave 4 ending late yester...Yep, everyone has minute wave 4 ending late yesterday or into this morning's SPY 108.75 low when the Consumer Sentiment came out and negatively effected the market for a few minutes. Now in Minute Wave 5 up.Wags94101https://www.blogger.com/profile/17739473911489005682noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-6674944840799257432009-11-13T10:52:09.832-05:002009-11-13T10:52:09.832-05:00I think this market is completely ignoring fundame...I think this market is completely ignoring fundamentals, so it's good we just followed technicals. I am on Carl's boat right now. My analysis points me to a top between 1110 and 1115 on Nov 17th or 18th, and a correction till Dec 2nd of 85 points, down to 1035. I think at that point market is going to start looking at mid-quarter updates for either up or down movesAarpennhttps://www.blogger.com/profile/00651326775016712500noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-49466473431708616682009-11-13T09:54:22.713-05:002009-11-13T09:54:22.713-05:00Carl,
for different reasons, I think your 1120 ca...Carl,<br /><br />for different reasons, I think your 1120 call will come to fruition. <br /><br />I think we finished Wave IV, a 38.2% retracement of Wave III up at 1082 in last night's trading. As such, we have an imcomplete Wave V structure to 1120. Looking at the 4 hour chart, I think we top between 1116 and 1125 depending upon how your draw on your pencil on the top of the uptrending chart. <br /><br />After that, I think the big risk is to remain on the long side.Unknownhttps://www.blogger.com/profile/04586265457583579477noreply@blogger.com