rjm77me's Blog : Market at cross road again

Joe...i agree
what i noticed that some shorts got nervous and covered which caused that brief run up like a moon shot and quickly sold off ....
only thing matters now is some convincing volume for the bulls ...short of that this market will pull back for sure
being short the market overall i do worry about the dollar falling and where will it end up ? gold , bonds , commodities or less likely stocks ...if it goes to stocks i think exporters will benefit ...

The dollar is the tell here. When it is done the market will flip.

Burtman...i think you are right
my prediction would be that when the US peso hits around 21.and change they will buy stocks...IMHO...i think we pull back to 1085 area in the coming days ...at that point any move to the upside with volume would be bullish
but i doubt we can rally from these levels ?

DM - you don't think SPX 1120 to 1125 will be support for this short term pullback? I think 1085 would signify a trend change.

US peso hits 21 and change? You looking at the UUP ticker? I track DXY for the dollar.

sure there are higher support zones above 1085.....thats my more than few days pullback support and more meaningful to me ....

.plus i think dollar will soften some more ....and the way i see it we came down from 1220 to 1010 than up almost 1150 ....down 210 and up 140 ...so if we assume market is healthy and pulls back round numbers 40 % that puts us around 1085

also there are some gaps that need filling 1110.88 and 1090.10...area ,.and they are big gaps ( they always fill ) ....usually within 2, 3 months the latest

more....strongest support below is at 1094...and below that minor support at 1076 ....average out to 1085 ........lets see what happens ........

in my real account i am shorting the index with puts and futures
i have until december ...unless the market takes me to the cleaners first
i lost more money changing course than not ..so i'll stick with it for now
this is NOT an advice ....just an opinion .....high risk involved...cheers..D$

XXV to 26.25 bees my call:-) 3J

\:-) 3J

Certainly doesn't "appear to be" affecting me numbas too badly and the fact is that I'm 100% short right now. You have "clearly" moved backwards. I'm not really that intrusted in excuses but go right ahead if it moves ya *-)BTW, no need to thank me latta oooon for my MCP suggestion :o 3J

LOL Oooooooh kaaaaaaay. :o 3J

*-) 3J

:-) 3J

3J

Pffft, NeLY hasn't done squat since you last spoke about it. You gonna get yer ave pick score above 1.70 taday ...or you goin even lower yet? How many SPX points do you need to move "forward"??? Just lemme know anna I'll see what I kin do *-) 3J

...




...take loss.


LOL

-) 3J

3J
You are smoking again - I said NLY is great stock to hold in 401K for 15% plus annual return - including dividends - it is you who love to put your foot in your mouth for every pick. It sure as hell beat your negative return. My trading style makes 50% annual return - go and check all my open and close trades - I mean actual buy and sell price and forget the points. That is why I said I do not care much if I go forward or back ward on this web site. It does not buy me dinner. Say I picked stock yesterday and it went up 1.5% and market went up 1.9% - am I loosing in my trade account - hell NO - i made great money for one day. On site one is loosing 0.4% and they have goofy way to calculate the annual return.
Why do not you publish your actual profit and loss. I did 3 weeks ago.

I:-) 3J

thank you :-) 3J

let's see. :-) 3J

-) 3J

I "should be" at +500 points by the close on Fri. The bulls need to temper thur buying until closer to the end ov day. "If" they will honor my request I will be ranked #2 or #3 at this site by Fri. Hang in thur,

Thanks for keepin a clean blog Joe. *-)

Well what a change - 3J writing in plain old e English.

I know of some little 3 to 9 months old sucking their tows.
It is pity to find grown up sticking their foot in mouth - time and again

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What? What did I say?