10/01/2012 Live Update

[Al_Dente]

http://www.federalreserve.gov/newsevent ... 21001a.htm

thanks gap

[Cobra]

hmm, we might have a small double bottom here. so I'm neutral now, wait.

[uempel]

Cobra - I'm not sure I understand -- "consolidate below breakout makes breakout out real" -- are you saying it's real "resistance" or a real breakout? Are you expecting another move up, or below the breakout point??? Thanks.

"consolidates below the breakout point usually makes the breakout solid - i.e. the breakout is real" - don't think we can write this any better. What's your language Claire?

[Cobra]

overall, I was expecting a huge up day today judging by the morning push up. now it seems that the enthusiasm faded very quickly.

[BullBear52x]

the last buy is failing. Wow, failed

[Al_Dente]

PAGING UEMPEL (I just saw yr disqus reply)
Money flows according to Baron’s
(Curious that Baron’s is reporting equity inflows while Morningstar reported equity outflows)
[u r right: they only address U.S. funds... FWIW… grain of salt]

[Cobra]

well, here goes out all my day trade long my swing long. I'm disappointed. I thought I caught another fish today despite the rough start.

[BullBear52x]

well, here goes out all my day trade long my swing long. I'm disappointed. I thought I caught another fish today despite the rough start.

I am not alone.

[uempel]

I've got a very clear signal for 2:00 p.m

[Petsamo]

It's looking like a fake bear raid on IWM. WLT, CLF, X, etc are not racing down

[fehro]

triangle?.. as I mentioned before.. support on blue?

[Cobra]

volume surge, hopefully a rebound here. then we'll see. usually this bear has legs.

[MrMiyagi]

I guess they don't like what Benny is saying..

[gappy]

RUT3day10_1.png

It's looking like a fake bear raid on IWM. WLT, CLF, X, etc are not racing down

From Furr over at Pretzles place. Look for a bounce off that lower trend.

[Al_Dente]

AAPL tests low on day?

September has ended
Someone wake Billy up
http://www.youtube.com/watch?v=JHa16644e-k

[Cobra]

support. no more pullback from here as it'd then looks like just a zigzag rebound which favors bears. so key time.

[Mr. BachNut]

More on Merriman...we are in a critical reversal period Oct 5-8th +/- 3 days....

"Well, the decline has now been two weeks since the Sept 14 crest, but in the NASDAQ Composite, only one week. Either it continues lower this week to a primary cycle trough, ideally October 5-8 +/- 3 trading days, or else we have another secondary rally into this Oct 5-8 reversal period, and then a stronger decline to new cycle lows. The idea of a rally first is supported by Jupiter turning retrograde October 4, and the Sun trine Jupiter on October 9, which can correspond to a secondary peak or new high within one week. Further along, we see a new moon October 15 in Libra. That too can correspond with a high from which prices then tend to decline."

I don't know anything about planetary affects on markets...but a few months ago, someone on this site, I can't remember who, put up this mysterious and fascinating chart.
I have added a little red circle (hard to see look closely) for where we would be now.
I can't trade something I don't understand...but I'll be watching.

[Claire]

Cobra - English is my first language. My confusion was with the word "breakout." If it were to go down below the breakout level, I thought that would be called "breakdown" -- not breakout.

[BullBear52x]

OK Buy is ticking again. what a day.

[Cobra]

normally it'd go like this. I'm not sure because the market is emotional, so wait.