01/24/2013 Live Update

[BullBear52x]

My sell alert that I got from AD yesterday now.

NYAD = back to Buy alert today, buy the dip
NAAD= back to Buy alert today, buy the dip
AMAD= stay the same, sell the rip.

I think the rotation is real, the health of US market over all is healthy. by healthy I meant lots of cash.

[Harapa]

What I learned from NFLX and AAPL move today was the market will do the opposite to the herd mentality.

Boss, I want my penny back.

[uempel]

HeHe....

I agree, but it might be a year or two. Unwinding these huge positions takes some time. I'm expecting a bounce before aapl melts away...

[Cobra]

Indeed Triple Top is rare. now it's C&H, targeting 1499ish.

morning high/late sell off, instead of morning dip/late rally?

possible but let's don't trade based on this speculation, it's lower odds.

[Mr. T]

We're never going down again!!!

[JFR]

SPX 1500 ...

[Al_Dente]

HeHe....

Last time AAPL opened up -10%, it was down another 10% 2 weeks later:

AAPL 10% Nose dive.GIF

THANKS tutti

[L_T]

Need to channel some Hussman here for a different perspective (my emphasis added): http://www.hussmanfunds.com/wmc/wmc130122.htm

Fund Notes

As of last week, the market has reestablished the most negative variants of nearly every “overvalued, overbought, overbullish, rising-yield” syndromes we follow. Even considering the effect of constructive trend-following measures and continued quantitative easing, we estimate a significantly negative prospective return/risk profile for stocks when the ensemble of present conditions is taken together. With commercial paper yields right near their 10-month average, we know of at least some normally insightful investors who seem willing to hold out for short-term yields to advance 10 or 12 basis points before abandoning a bullish stance. This may very well “keep it simple,” but in view of presently overextended conditions, it also inadvertently risks wandering into “stupid.” Einstein once said that things should be made as simple as possible, but no simpler. My impression is that an overreliance on aphorisms like “the trend is your friend” and “don’t fight the Fed” raises the likelihood of overstaying one’s welcome at the point that overvalued, overbought, overbullish, rising-yield conditions (particularly on longer-maturity debt) come into play.

hussman has been on the wrong side of the trade for years now his returns are horrible loves to talk alot but not much in the way of results, i wouldnt put much stock in anything he has to say. i believe managers like him are still in shell shock from the crash and are now afraid to trade not to say he was ever a star to begin with. his growth fund is a huge dog!

http://www.hussmanfunds.com/theFunds.html

click link and see for yourself, low fees dont mean much if your loosing money....


Hiram

Agreed his returns are not very good. I also agree that he seems bearish much of the of time. It is more his perspective of the way things are right now that I was pointing out. If I had $XXXXXX on the sideline and was looking to invest (not a quick trade) this is probably not a great time to do it.

[BullBear52x]

What I learned from NFLX and AAPL move today was the market will do the opposite to the herd mentality.

Boss, I want my penny back.

the day is not over yet, a penny in the red is still possible to say that market will continue up from here without a rest I will be darned from this high reading, a penny red day at least geezzzz

[Tutti]

HeHe....

I agree, but it might be a year or two. Unwinding these huge positions takes some time. I'm expecting a bounce before aapl melts away...

I agree w you Uempel. This looks like as good as an area for a bounce as any (maybe????)

Longer term:

PS is it me or are things in this market getting a wee bit ahead of themselves?

[TraderGirl]

HeHe....

I agree, but it might be a year or two. Unwinding these huge positions takes some time. I'm expecting a bounce before aapl melts away...

Of course nothing goes down in a straight line...this is just my future objective...maybe lower....but it should'nt be 2 years...more likely year and half....

61% fib retracement from the '09 lows are around $319 and 78% fib retracement is around $214...possibly it ends up somewhere in that range eventually...

Currently we have gap support around 444, and gap fill around 425...

[BullBear52x]

Market top headline for years to come.

DOW 14000
RUT 900
SPX 1500

[Harapa]

the day is not over yet, a penny in the red is still possible to say that market will continue up from here without a rest I will be darned from this high reading, a penny red day at least geezzzz

Let's see

[Mr. T]

Market top headline for years to come.

DOW 14000
RUT 900
SPX 1500

Yup, I'm wondering now if DOW 14k is the key, not SPX 1500

[BullBear52x]

the day is not over yet, a penny in the red is still possible to say that market will continue up from here without a rest I will be darned from this high reading, a penny red day at least geezzzz

Let's see

I am all eyes on vixies right now, XIV may get that hourly set up sell signal today. it will be fast once they crossed.

[Cobra]

chart is bullish biased.

[kenttown]

Market top headline for years to come.

DOW 14000
RUT 900
SPX 1500

[BigChief]

There is a lot of resistance here for the SPY above looking at the longer picture, still waiting for a possible short here, maybe a small h&s top then drop short term?

[Cobra]

C&H target.

[TraderGirl]

Market top headline for years to come.

DOW 14000
RUT 900
SPX 1500

Yup, I'm wondering now if DOW 14k is the key, not SPX 1500

I agree it's the Dow searching for a top...SPX is following along....IMHO....if we get to Dow 14,000 sooner than later, then a top may be coming into place...