Hey, nice chart. Did you notice in that picture how identical this latest run up was to the one in Feb? I don't think the top is in but they look so similar. Actually Monday might be up again.
that's what I'm watching now. MACD HIST is losing momentum that's for sure. Just some times before reverse, there could be one more push.
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Looking to dump FAZ here soon. That would reduce me to 50% short heading into Monday but give me the option of buying FAZ back if they gap it up again. I think Monday could be up, so I'll hold 50% cash 50% shorts and wait for new highs on the S&P, unless I see a big move down here. The bounce in FAZ has been weak so far, but still above my stop level and I made about 1% on a big posn.
Since you guys still have money to trade stocks, so crude 110 is nothing. Let's wait for $220.
lol. yeah something has to give here, i don't buy the consumer can handle $4 gas. I am already paying almost 4.20 myself but i work from home so i don't really care
Since you guys still have money to trade stocks, so crude 110 is nothing. Let's wait for $220.
lol. yeah something has to give here, i don't buy the consumer can handle $4 gas. I am already paying almost 4.20 myself but i work from home so i don't really care
when gas was around $4 in year 2008, everyone complained. Nowadays you see anyone complain? So $4 is nothing, perhaps $5 would introduce a little concern, $8 might be the next complaining point.
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SPX - I think we are so close now, that we have to test the previous high. Expect possible drop to 1332 level before running up to previous high/new high monday then possibility of retest previous March low.
I was just about to leave when I saw this chart. I think neither bulls nor bears can make headway until SPX touches the dotted line to the right. But now I'm off...
Try the equivalent of $9.25 per gallon as it is here in the UK !
We pay $1.24 CAD per litter here. 1 gallon = 3.785 liters, 1 CAD = 1.035 USD, so 3.785 * 1.035 = $3.91 per gallon.
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alvian33 wrote:Cobra what do you tink of dollar especially about today action is it bearish in your view?
I think EURO is bullish. Who the hell knows how US could solve its debt problem except to print more paper?
I trade EURO since the day it started (more than 10 years in day trading and position trading) and now I am flat which is rare for me but I am flat because EURO chart says there will not just be a big move but a huge move soon (soon = days ) and I am waiting for that move.
Thanks for the chart and have a great weekend at the hamps!
We us here can head back to our tents.
uempel wrote:I was just about to leave when I saw this chart. I think neither bulls nor bears can make headway until SPX touches the dotted line to the right. But now I'm off...
Hmm, pullback a little larger here. I was about to say there'd be a little lower low then low might have been in (too later saying this now as I was calculating how much I pay for one us gallon gas ), well, now since the pullback is a little bit larger, then I'll have to wait and see.
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Cobra wrote:Hmm, pullback a little larger here. I was about to say there'd be a little lower low then low might have been in (too later saying this now as I was calculating how much I pay for one us gallon gas ), well, now since the pullback is a little bit larger, then I'll have to wait and see.
Reiterate my evil plan, there'd be a little modification though which I'd do it in the After Bell, otherwise nobody would bother to read my after bell.
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