Stock Market Today : May 14th - 18th - Page 8

Pointing out the imporyance
 

Great, on top of having a shotty day of trading, I get two of the most bull-crap tickets I've ever know. The cop pulls me over and tells me I was driving too closely to another vehicle (good one it's freaking 5 pm rush hour bumper-bumper traffic) and then another ticket for failing to signal on a turn in which the lane I was in was designated only for turning.

Quote:

Originally Posted by rando 


For me it wasn't a product of any science or mental labor... but there are some cross-references, the biggest being 2x '09 low for cash index. I'm starting to feel it is also a bit of a sweet spot for the market, a level below which bears could find a real grip on the action. I am also interested in your 1316-1320 levels, a guy I interact with somewhere else has two or three proprietary market timers he has used with very good results over the last several years. He has pinpointed that range in cash index as his max downside range for this push, and he has already scaled in long, I think he is tier two long of four possible tiers. It usually seems wise to give extra consideration to levels that are discovered through completely different methodologies and disparate sources.
These bleeds that have happened recently have not been panicked, or especially high-volume. This trader I referenced is extremely confident futures are being marked down so syndicate money can be long from cheaper, for a good push up. In my history of following him, his timers had been fooled, but their track record is well over 50% accurate at similar junctures. He has not talked upside objective as his timers do the speaking but I'm assuming his strategy has 1400-1440 in its sights. The easiest way to meld all of these events together would be bad Euro debt news triggering the panic sell to 131x levels so we get our flush, then a reversal on good news morphing into a "we are the US and don't care bout the rest of you" rally. I'm not predicting that this is what will happen, just trying to fit a square peg into a round-looking hole. Who knows, maybe the hole is square after all.
Venom's fill in the blank answer had me LMFAO, well done.

Keep in mind it's also election year. Does anyone really believe Obama's going to allow the markets to crash? He's probably going to be calling up Bernanke every other day to fix it and we'll be seeing QE3-6 in the time-span of two weeks. I'm just worried that Europe's going to roll-over and die this summer and it'll bring us along with it.

Quote:

Originally Posted by StockJock-e 

 

You need to elaborate on why those levels are important.

 

Simply saying "our GOOG 600" makes no sense to anybody.

Ive spoken to you about this. We would like you to improve and participate more, but you need to step it up a knotch.

 

Here is my chart on GOOG.. Tell me, which one is better?

 

This one is too complicated, SJE. I  just don't see the parallels between GOOG and Oil Futures.

5/14/12 market technical analysis w/ brian shannon

> Keep in mind it's also election year. Does anyone really believe Obama's going to allow the markets to crash?
> He's probably going to be calling up Bernanke every other day to fix it and we'll be seeing QE3-6 in the time-span of two weeks.
> I'm just worried that Europe's going to roll-over and die this summer and it'll bring us along with it.

Didn't you get the memo?  

The syndicates want everyone's 401k cut in half by the 2nd week of October 2012, at the very latest.
 

Quote:

Originally Posted by rando 


For me it wasn't a product of any science or mental labor... but there are some cross-references, the biggest being 2x '09 low for cash index. I'm starting to feel it is also a bit of a sweet spot for the market, a level below which bears could find a real grip on the action. I am also interested in your 1316-1320 levels, a guy I interact with somewhere else has two or three proprietary market timers he has used with very good results over the last several years. He has pinpointed that range in cash index as his max downside range for this push, and he has already scaled in long, I think he is tier two long of four possible tiers. It usually seems wise to give extra consideration to levels that are discovered through completely different methodologies and disparate sources.
These bleeds that have happened recently have not been panicked, or especially high-volume. This trader I referenced is extremely confident futures are being marked down so syndicate money can be long from cheaper, for a good push up. In my history of following him, his timers had been fooled, but their track record is well over 50% accurate at similar junctures. He has not talked upside objective as his timers do the speaking but I'm assuming his strategy has 1400-1440 in its sights. The easiest way to meld all of these events together would be bad Euro debt news triggering the panic sell to 131x levels so we get our flush, then a reversal on good news morphing into a "we are the US and don't care bout the rest of you" rally. I'm not predicting that this is what will happen, just trying to fit a square peg into a round-looking hole. Who knows, maybe the hole is square after all.
Venom's fill in the blank answer had me LMFAO, well done.

Those levels are nothing special, just fib levels I have. 

The next levels of support are 1326, and 1316.

The more I check into that 1321 the more I can't pull why I have it on my chart. It's a price level I've drawn out at some point, but unsure when or why I added that. So it's importance is questionable. 

Like your buddy, I believe it was a flush from longer fractal money off of long term resistance. I too, am expecting it to not last much longer. That's why I'm looking for 1 of the 2 levels I pointed out being support or the swing low of this flush. Also, like I pointed out many times before, I've been expecting a 100 point flush off the recent highs, and then a push right back up to test those highs, maybe break slighlty higher and come back down again. I believe this wide range of chop has just started. 

But like always, the goal in the end is to always trade what I see and not what I feel. The next largest level of support is just above 1300. They can take the price there into the largest support of buyers no problem.

Just my personal reasoning says otherwise...

Quote:

Originally Posted by JoeBloggs719 

> Keep in mind it's also election year. Does anyone really believe Obama's going to allow the markets to crash?
> He's probably going to be calling up Bernanke every other day to fix it and we'll be seeing QE3-6 in the time-span of two weeks.
> I'm just worried that Europe's going to roll-over and die this summer and it'll bring us along with it.

Didn't you get the memo?  

The syndicates want everyone's 401k cut in half by the 2nd week of October 2012, at the very latest.
 

Hey, I'm all for Obama being outed, but the Fed is really damn powerful and Bernanke is a liberal.

Quote:

Originally Posted by rando 

Looking forward to ___________ Tuesday (insert word of choice).

Chicken?..............Old El Paso.....you know the rest.   LOL!

Really unlucky for you.  Some states are desperate for money, they will find ways to ticket people and bring in money from the fines.
 

Is there any chance of apple recovering to 600 before next earnings?

Seems apple has turned into a bad investment and I have turned into a bag holder. Im not sure what to do I was under the impression that the company and stock were good I guess I was wrong.

Quote:

Originally Posted by Nate01 

Is there any chance of apple recovering to 600 before next earnings?

 

Seems apple has turned into a bad investment and I have turned into a bag holder. Im not sure what to do I was under the impression that the company and stock were good I guess I was wrong.

I think it will depend on the markets this summer. Next earnings are still far out on AAPL.

Chart wise, I'm looking for $520 - $530 by June.

Quote:

Originally Posted by o7media 

 

I think it will depend on the markets this summer. Next earnings are still far out on AAPL.

 

Chart wise, I'm looking for $520 - $530 by June.

I just dont understand how apple stock can just go down everyday for no reason.

Quote:

Originally Posted by Nate01 

Is there any chance of apple recovering to 600 before next earnings?

 

Seems apple has turned into a bad investment and I have turned into a bag holder. Im not sure what to do I was under the impression that the company and stock were good I guess I was wrong.

There are many people in our situation, Nate. I just spoke with a guy and he has lost over $200,000 from his long AAPL investment. Like many others, he bought a little in anticipation for earnings and when he saw that they beat, he went all in at around $610. He says that he is positive AAPL will become profitable again but he's also hoping that he doesn't get a heart attack in the meantime just watching it fall.

Quote:

Originally Posted by Nate01 

I just dont understand how apple stock can just go down everyday for no reason.

Well, there is a reason, the overall market is down

http://www.telegraph.co.uk/finance/financialcrisis/9265930/Merkel-tells-Greece-to-back-cuts-or-face-euro-exit.html

Wow, things are heating up in the EU.