35854 replies to this topic

[bear catcher]

What happened to Sunesis? Guess his busy counting his profits. Like to hear what is your view atm, all happening as you said!!!!!

[Roundtree]

Hi RoundTree,  it seems to me your view is  up to you 43750ish area and then down and Farouk just said his view is a final washout to then all time highs++>1925 for S+P500, as is the view of many other bulls overseas -

 

-- it seems to me what you might imply is an intermediate bounce (Yellen permitting) which we are arguably in the process to your 43750ish (in S*P500, I am watching a bounce TP and fail at  1839/1854 before that "final wash out" so the stock holders belong to new postive thinking bulls with Farouks TP in mind . An if S&P reaches and continues above 1854 its down channel will be broken and no washout to 42800ish ( i.e. SP500 not going lower ) but that is unlikely (nothing is impossible in this game!) -

 

When I look at the Dow chart, it  too wants to go down fars I can see -  any views??

O, my thinking remains unshakable even though the market is turning on the thumb screws. This bad boy is not done with the top. It's up to 43715 (at the least) then down to 42500. 

 

We WILL go down eventually but right now we're busy with the top (well, I thought we were busy with the top until this thing broke support).

 

I expected that today we would go down to 43320 then head higher. The first stop would have been 43715, which the professionals would proxy trade next week some time all the way up to 44170. What happened, this thing kept nudging support at 43320 (when Farouk gave that ominous warning about the flood gates). Basically, the Top 40 has managed to confuse the hell out of me. 44170 was not closed. 43715 wasn't closed either. Now when I look at my chart, there isn't a single signal in my system that says I should close my position. And there isn't one to say I should double down. So I hold. 

 

The DOW is on its way down; that's very clear to see. It has a classic double top and that extremely long drop between the tops. I don't expect it to fight the move lower. But that isn't the case with our market.

 

I've been holding from 43475 meaning I'm basically down 305 points per contract. So I hold. I have to hold. Not because I want to have the last word but there just isn't any signal that says I shouldn't.

 

Let's see what tomorrow brings, brothers.

[OceanWalz]

Roundtree

What Argento meant was you can expect the market to bounce.

 

Guys tomorrow may bring more pain if China news is going to be bad.

Prepare for the worst.

too early for me , China GDP and their Industrial production figs out at our 4am and Yellen again at our 6.15pm - 

[Argento]

Roundtree

What Argento meant was you can expect the market to bounce.

 

Guys tomorrow may bring more pain if China news is going to be bad.

Prepare for the worst.

I meant this drop was in the macd...price always plays tricks with the mind!

 

Also expect more pain tomorrow!

 

A

[farouk]

Roundtree

What Argento meant was you can expect the market to bounce.

 

Guys tomorrow may bring more pain if China news is going to be bad.

Prepare for the worst.

[OceanWalz]

Hi RoundTree,  it seems to me your view is  up to you 43750ish area and then down and Farouk just said his view is a final washout to then all time highs++>1925 for S+P500, as is the view of many other bulls overseas -

 

-- it seems to me what you might imply is an intermediate bounce (Yellen permitting) which we are arguably in the process to your 43750ish (in S*P500, I am watching a bounce TP and fail at  1839/1854 before that "final wash out" so the stock holders belong to new postive thinking bulls with Farouks TP in mind . An if S&P reaches and continues above 1854 its down channel will be broken and no washout to 42800ish ( i.e. SP500 not going lower ) but that is unlikely (nothing is impossible in this game!) -

 

When I look at the Dow chart, it  too wants to go down fars I can see -  any views??

[Argento]

If you don't have anything nice to say, then don't say anything at all.

Nothing intended and was meant to be in good spirit....!   

 

A

[Roundtree]

If you don't have anything nice to say, then don't say anything at all.

[Argento]

Very well put. 

 

There comes a time when a man has to accept that he's wrong. This isn't it. 

 

Wish me luck, brother. 

Macd's...will save you pain brother!

 

A

[warnerbroers]

Very well put. 

 

There comes a time when a man has to accept that he's wrong. This isn't it. 

 

Wish me luck, brother. 

classic

[AJS]

There comes a time when a man has to accept that he's wrong. This isn't it. 

 

Wish me luck, brother. 

  I like it! 

[Roundtree]

Roundtree

A thief will knock at your door once.He will knock at it twice.The third time if there is no answer then he is going to break that door.

The MM (thief)is coming just to often at this door and you know what will happen.

Very well put. 

 

There comes a time when a man has to accept that he's wrong. This isn't it. 

 

Wish me luck, brother. 

[Vertebrae]

US pouring on the +ve news. Bears pushing hard on the deleverage pedal

This movie is too sentimental for me, pass the hankerchief so I can blow off

 

 

 

[farouk]

Roundtree

A thief will knock at your door once.He will knock at it twice.The third time if there is no answer then he is going to break that door.

The MM (thief)is coming just to often at this door and you know what will happen.

[farouk]

I agree with Frans.Yesterday there was an increase of 714000 calls in the US and whats needed is a final washout.

[Roundtree]

Looks like the flood gates are about to open.

You're scaring me, F.

 

I hope you mean the flood gates to wash out all the bears, because I'm expecting this bad boy to shoot up. We're headed for today's low to pick up all the stops. We should then head higher.

 

As I see it, this price action is very bullish. Or, it's all in my head.

[Vertebrae]

 Chart of Alsi Daily

alsi daily.png

Self explainatory.

 

=Elova bullish, check the wave count

[Argento]

A final washout in the US is still missing..there was a initial spike in the CBOE put/call ratio but it normally signals the start of fear selling and should create a spike in the SPYDER volume and the VIX...haven't seen it yet..so SPX aiming for 1800 and could overshoot!

 

That will fit in with TOP40F going for that 42780ish level and I would advise cutting shorts there as a super rally is coming into May!

 

A

Again info courtesy of UBS...

 

A

[Argento]

Maybe, but not so much to me!? Does that small "double top" really constitute one and if so, does it mean a discontinuation of the trend and which one? Sure, time will tell, but nice to have an idea beforehand and "debate" and learn about the charts!

Roundtree, I also prefer to trade "naked", but only just because I have not found even ONE indicator I can trust on a regular basis; they all are sometimes right and sometimes wrong, it seems to me! But I like trend lines (maybe because it's the simplest).

A final washout in the US is still missing..there was a initial spike in the CBOE put/call ratio but it normally signals the start of fear selling and should create a spike in the SPYDER volume and the VIX...haven't seen it yet..so SPX aiming for 1800 and could overshoot!

 

That will fit in with TOP40F going for that 42780ish level and I would advise cutting shorts there as a super rally is coming into May!

 

A

Edited by Argento, 15 April 2014 - 02:41 PM.

[farouk]

Looks like the flood gates are about to open.