09/23/2013 Live Update

[Al_Dente]

WHALE WATCH

“Has Warren Buffett Nailed Another Market Top?”
“We're having a hard time finding things to buy."
http://seekingalpha.com/article/1705912 ... view&ifp=0

[smith]

A POSSIBLE Double Top if we break below 163.05 in the weekly SPY

[Al_Dente]

Dow Watch:
NKE, GS and V are now in the dow

[Mr. BachNut]

WHALE WATCH

“Has Warren Buffett Nailed Another Market Top?”
“We're having a hard time finding things to buy."
http://seekingalpha.com/article/1705912 ... view&ifp=0

Market Cap to GDP, one of Buffett's preferred valuation tools, is above where it was at the 2007 top.

[Auole]

That gray chart again. ES, DOW's goose is definitely in the oven. -red dots on the 2 hourly. RussI 2X holding stronger. Agree that bounce back up likely for short re-entry. Intuitively, supported with some TA although it's a good sign that once again gold/silver up with market down re-established relationship is helpful, likewise, can't be too careful here before going long on miners or whatever your game player is.

[Out of Bounds]

Snog is warning. Top is here or near.

[stlwater]

That gray chart again. ES, DOW's goose is definitely in the oven. -red dots on the 2 hourly. RussI 2X holding stronger. Agree that bounce back up likely for short re-entry. Intuitively, supported with some TA although it's a good sign that once again gold/silver up with market down re-established relationship is helpful, likewise, can't be too careful here before going long on miners or whatever your game player is.

Yes, I'm telling you it's feeling a bit like this:

http://www.youtube.com/watch?v=Ed489soVIq8

Still believe GLD is sniffing the 200DMA at the least, if not a complete trend reversal (look back at this as "the buying opportunity")... Can only trade what you see. GLTA

[jack black]

Market Cap to GDP, one of Buffett's preferred valuation tools, is above where it was at the 2007 top.

Mkt Cap to GDP.jpg

I like Qratio for valuation metrics. It's 50% above the long term mean. WORSE than 2007. IMHO, staying long at this point is very dangerous.
According to the charts, repeat of the 40's or 70's is in the future.

[jack black]

Does anyone know why financials (XLF) are dropping like a rock?
I mean more than the eqities in general.
I also noticed miners stopped following equities.

[fehro]

SPX 60m

[stlwater]

I've got some support at 169.21 SPY, nothing major but it could provide a bounce. Otherwise next stop would be 20DMA

[fehro]

Does anyone know why financials (XLF) are dropping like a rock?
I mean more than the eqities in general.
I also noticed miners stopped following equities.

Could be that as someone mentioned on the weekend update.. Al_Dente?... that XLF did not make a new high, yet all the indices did.. here's a weekly fwiw.

[stlwater]

Does anyone know why financials (XLF) are dropping like a rock?
I mean more than the eqities in general.
I also noticed miners stopped following equities.

Miners only appeared to follow equities.. If you look at HUI you'll see that miners are at long term rising support from Y2K. Miners and PMs in general in a non-fed manipulated market should move inversely with market. What we've had is a major correction in PMs and a HUGE correction in miners as well as a strong correction in Treasuries. Market was at all-time highs. Both are now set to begin moving correctly (inversely). My opinion only. Financials are the most vulnerable in an equity crisis.

[Auole]

Stillwater-----Well, that's one way to go about it. From holding my subconscious breath to laughter. Yep. Should be very much like this. Cadence before the real deal? My, you really take your investing seriously. Somehow sort of out of spite I also wish to catch this fiat game exactly at game change role reversal.

[Al_Dente]

XLF gapped below the island reversal (pink) this morn
Now testing gap support from 9/10 (near 50% fib retracement)

[Cobra]

NORMALLY, this rebound shall fail as well because this is the very first visible rebound.

[jack black]

Bears Retreating as Europe Shorts Sink to Seven-Year Low
http://www.bloomberg.com/news/2013-09-2 ... 6-low.html

Borrowed shares of Euro Stoxx 50 Index (SX5E) companies, an indication of wagers against equities, have fallen to 1.7 percent of the total outstanding from 3.2 percent two years ago and 24 percent at the height of the financial crisis, according to data from Markit, the London-based research firm. Bullish bets on Europe have reached the most since 2007 in a Bank of America Corp. survey of money managers who oversee $518 billion.

We all know what happened in 2007 LOL!

This is yet another piece of evidence how 2013 is like 2007. Another is from the NYSE margin levels.

[jack black]

Stillwater-----Well, that's one way to go about it. From holding my subconscious breath to laughter. Yep. Should be very much like this. Cadence before the real deal? My, you really take your investing seriously. Somehow sort of out of spite I also wish to catch this fiat game exactly at game change role reversal.

LOL, I had to look up cadence. I was never much into music.

[MrMiyagi]

iwm

[stlwater]

Stillwater-----Well, that's one way to go about it. From holding my subconscious breath to laughter. Yep. Should be very much like this. Cadence before the real deal? My, you really take your investing seriously. Somehow sort of out of spite I also wish to catch this fiat game exactly at game change role reversal.

I'm not "investing" I'm trading. I'm trading support and resistance areas. I'm trading trends and (attempting) to catch reversals at support and resistance. I do not pretend to understand the inner workings of an obviously manipulated machine. I look for "tells" and blah blah blah is merely an observation of historic relationships in the market. Eventually the manipulation will no longer work and I believe that's beginning now. I believe that the corrective actions in PMs, miners, Treasuries, was a set-up for exactly that. Presently I'm green in all but one trade and I'm watching the market most of the day. GLTU.