42 replies to this topic

[diogenes227]

I say there is no chance for a top here.

The record high is pulling SPY up like a magnet.

Especially with financials such as WFC breaking out to 52-week highs on above average volume.

Wells Fargo Breakout

Best thing to do is wait and see what FXI and ILF do, both have been weak lately.

Bears might have a chance at a correction here if these two keep going down.

World Index Charts

Apple about ready to turn back up on the monthly?

If so, will the Nasdaq catch up to the Dow?

AAPL Monthly

Nice chart selection. Like your avatar too but you know that's far too smart a guy to be listened to. Yes, print faster.

Welcome to the fray.

[DrSP]

Does anyone here still uses Terry Laundry's ideas? One of his Ts has been projecting into Apr 2.

What happened to his site after his demise? Is someone running the site?

[diogenes227]

I hope my conspiracy theory on the "sequestration manipulation" is wrong.
It involves maximum pain intentionally caused for maximum blame.

See: Des Moines Register, October 2012
"So when you combine the tax cuts expiring, the sequester in place, we’re going to be in a position where I believe in the first six months we are going to solve that big piece of business. It will probably be messy. It won’t be pleasant."

There could be no better "optics" than a 2% sequester causing a falling stock market and a peaking economy.

How does the conspiracy work ? Not sure I understand this exactly. I do think we haven't seen the last of the economic effects of the sequester and tax hikes.

That said I think the break-up of the Euro is probably going to be the most damaging thing for the market, when it finally happens. Has a potential to throw the whole system into a massive turmoil. And the Fed is just about out of tools.

Euro is unsustainable as a currency, no matter what Draghi says. Italy, Spain, Greece, France will never be able to repay the debt if they are unable to print their own currency. Not in the face of cheap competition from Asia that is costing the western world their jobs. Southern Europe population is getting impoverished at the expense of Germany. The social unrest will get worse and eventually lead to the point that either Germany or Italy/Spain/Greece will exit the Euro. I don't see how it can be otherwise. 25% of German population already support the return to DM. Italian elections also show the social mood in Italy is getting worse. European imbalances can't be solved while euro is around.

I think the question is when, not if. May take a while. The global economic fallout will be massive.

I'm enjoying the sequestration discussion also, particularly the Repubs floundering around. To paraphrase: "The sequestration is good, downsizing government," they say, "and it's all the President's fault."

But on a more practical matter, I'm trying to corner the world market in guillotines. Suspect there may be a big demand for them someday soon.

Edited by diogenes227, 16 March 2013 - 03:11 PM.

[ogm]

But on a more practical matter, I'm trying to corner the world market in guillotines. Suspect there may be a big demand for them someday soon.

Yep. When they start beheading the politicians in Europe

And its coming. If "whatever it takes" means confiscating depositor's money in the banks to pay debts to Germany ... Its coming.

Will be interesting to see how Euro and European markets react on Monday to the Cyprus situation. I'm sure there is a local PPT standing by just in case

Cyprus is small, but implications of this deal are big.

[risk_management]

Does anyone here still uses Terry Laundry's ideas? One of his Ts has been projecting into Apr 2.

What happened to his site after his demise? Is someone running the site?

I have no idea. Never actually been to his site after he died. That dude parker was throwing unsubstantial ideas left and right. Got turned off and never visited afterwards.

[tomterrific14]

But on a more practical matter, I'm trying to corner the world market in guillotines. Suspect there may be a big demand for them someday soon.

Yep. When they start beheading the politicians in Europe

And its coming. If "whatever it takes" means confiscating depositor's money in the banks to pay debts to Germany ... Its coming.

Will be interesting to see how Euro and European markets react on Monday to the Cyprus situation. I'm sure there is a local PPT standing by just in case

Cyprus is small, but implications of this deal are big.

Credit Anstalt 1931 dej a vue.?

[PrintFaster]

Semis should pull back to the moving average around $34

, then it will be off to the races after CNBC trots out Dan Niles for a "Train is Leaving the Station" upgrade or something.

Oldest trick in the book.

[thespookyone]

"In one of the threads a couple days ago I said something like "internals aren't there anymore" .... I meant it. " And if I shorted the SPX or DOW when you made the post-would I be ahead now? Or what if I shorted where you saw your first potential divergence-how would that be working out? Only asking because I trade to make money. Is there potential divergence there, sure. Is the AD line showing me any-no. When I'm in a bull market, do I want the smaller and mid size issues to lead-you bet I do-and I wonder where the divergence is on those MID and SML summations (not there, as a matter of fact, currently attacking 3 year highs). My point only that the divergence may play out, may not-and I doubt the three indicators you are using will give you an index entry. There is a lot of nuance in reading the internals that cannot be contained in those three lines-but I'll let future price confirm that instead of arguing it here. I can tell you simply that the internals have had me long from November the way I read them, and it's been some pretty nice coin. Will we correct, sure-but the internals are telling me it will be nowherre near the size most think-to each their own. I went flat Friday, save one long option 40 days out. I'd love a correction here to reload. I'll watch to see you take an index short position, as opposed to shorting individual stocks-then I'll know you mean the time is NOW to cash in easy on those potential divergences Good Fortune in Your trades.

[ogm]

"In one of the threads a couple days ago I said something like "internals aren't there anymore" .... I meant it. "

And if I shorted the SPX or DOW when you made the post-would I be ahead now? Or what if I shorted where you saw your first potential divergence-how would that be working out? Only asking because I trade to make money.

Is there potential divergence there, sure. Is the AD line showing me any-no. When I'm in a bull market, do I want the smaller and mid size issues to lead-you bet I do-and I wonder where the divergence is on those MID and SML summations (not there, as a matter of fact, currently attacking 3 year highs). My point only that the divergence may play out, may not-and I doubt the three indicators you are using will give you an index entry. There is a lot of nuance in reading the internals that cannot be contained in those three lines-but I'll let future price confirm that instead of arguing it here. I can tell you simply that the internals have had me long from November the way I read them, and it's been some pretty nice coin. Will we correct, sure-but the internals are telling me it will be nowherre near the size most think-to each their own. I went flat Friday, save one long option 40 days out. I'd love a correction here to reload.

I'll watch to see you take an index short position, as opposed to shorting individual stocks-then I'll know you mean the time is NOW to cash in easy on those potential divergences

Good Fortune in Your trades.

You're right, I was mostly playing with individual stocks. FB Is still my favorite short. However I believe posted that I have April, and now some June spreads too. Latest one was DOW at 14,500 that I posted on Thursday. Not super heavy positions, but enough to keep me entertained So yeah, I'm in already. I think the time now is as close as ever. But I'm a slow learner and I keep misreading the magic indicators, so we'll see how that works out. No guarantees

[arbman]

Selling short this from here is all about timing, I think there is still a bit more time to go, this initial Cyprus news sell off will be probably bought back up... I see the first week of May to start for a deep correctIon... We have a recession or near zero growth at the moment, the market will eventually reflect the valuations, perhaps it will crash, USD rallies up, commodities are selling, so the signs are already there with the breadth weakening...