tag:blogger.com,1999:blog-12333088.post5512007152343730141..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: Guesstimates on November 23, 2009Carl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-12333088.post-24445050390856669282009-11-23T13:12:14.763-05:002009-11-23T13:12:14.763-05:00There may be a short-lived pullback around 1126, p...There may be a short-lived pullback around 1126, perhaps 5-10 points.Unknownhttps://www.blogger.com/profile/17850242102513972042noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-83805190601584188142009-11-23T11:50:58.368-05:002009-11-23T11:50:58.368-05:00Good call Carl. I went short at 1100 going against...Good call Carl. I went short at 1100 going against your call (which I rarely do), Ouch! I will keep an eye on the volume though, if it doesn't pick up as it moves towards your numbers (1126), I will short it again.<br /><br />Great job!Aarpennhttps://www.blogger.com/profile/11740974500255620726noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-12343034576761622342009-11-23T11:39:51.931-05:002009-11-23T11:39:51.931-05:00We have been on P1 wave (bull) since March 2009, a...We have been on P1 wave (bull) since March 2009, and I believe this is the last leg up (5th) on P1 (up to 1150's). After this last leg up, I'll take on the bear side for awhile (months) for P2 (bear).Unknownhttps://www.blogger.com/profile/17850242102513972042noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-90836146916336646842009-11-23T11:39:49.300-05:002009-11-23T11:39:49.300-05:00Carl had correctly pointed out that the bullish se...Carl had correctly pointed out that the bullish sentiment was not yet strong enough to start a downtrend. The market only consolidated and continued the uptrend. But it did go down a bit to get the bears all excited and bears making predictions of a big drop. It turned out to be a bear trap.<br /><br />However, on the weekly and daily charts Stochastics are showing a downward direction. So, the current rally is on a shorter time frame and will, therefore, fizzle out in favor of the daily and weekly charts. Nevertheless, shorting this market is only for the intrepid.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12333088.post-74458498543424381442009-11-23T11:21:05.259-05:002009-11-23T11:21:05.259-05:00This past week showed me again how difficult it is...This past week showed me again how difficult it is to be a contrarian trader. There was this temporary retreat since Tuesday and the bears came out with might across the media and blogosphere. It takes some emotional strength to stick to the bull side as we climb an enormous wall of worries. Even if models and common sense clearly show we're in e new long-term bull market, my emotions are clearly attracted by the bear's worry-mongering. And roar they do mightily. There is a reason why the majority is always wrong in the markets.<br />JoeJoehttps://www.blogger.com/profile/17141887720434208291noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-43676617154151257162009-11-23T10:38:01.237-05:002009-11-23T10:38:01.237-05:00Do you see any consolidation from today's high...Do you see any consolidation from today's high by EOD or tomorrow? Or do you see the market heading straight to 1126?Vamseehttps://www.blogger.com/profile/09060566916690242715noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-53681890535864945632009-11-23T10:19:17.570-05:002009-11-23T10:19:17.570-05:00I agree. I believe we have finished with 4th wave ...I agree. I believe we have finished with 4th wave of 'C' and on the way (up) to 5th wave today (1st day), so I don't believe there will be a major resistant at 1120's. I believe it will go up to 1130's or higher by 1st week of December.Unknownhttps://www.blogger.com/profile/17850242102513972042noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-88422779432104873972009-11-23T10:08:44.481-05:002009-11-23T10:08:44.481-05:00Carl,
Nice call on your 1112 target for today... ...Carl,<br /><br />Nice call on your 1112 target for today... I didnt think it would get up that high... I was more around the gap fill at 1108!<br /><br />Congratsextraderhttps://www.blogger.com/profile/03032122744040672879noreply@blogger.com