Stock Market Today : June 4th - 8th - Page 12

i agree... with gold and silver bouncing, oil should also see some upside as well... just need that dollar to stay red

Quote:

Originally Posted by nowwhat 

Oil stocks poised for a large OEX rally......

Judging from the mere five that I've looked at.

OXY CNQ SU TLM HAL

All of 'em sitting upon Support,

With an OEX soon in the cards

Hello ?
 

Quote:

Originally Posted by IchibomB 

wyckoff shortening of the thrust on the 4hr channel

test for supply on the daily candle

line chart?...next you'll be posting black n white charts

Is there a country that is actually getting an "upgrade" on their credit these days?.....wtf?...let's downgrade the whole planet into oblivion...why not....start from scratch like Fight Club suggested.

Quote:

Originally Posted by OldFart 

line chart?...next you'll be posting black n white charts

intraday highs/lows aren't that important to me. 

I can see that on my daily chart with candles.

Plus, I draw trendlines using the close. Makes it easier to see. 

black and white charts are cool with me as long as there's some

good info behind them. 

Quote:

Originally Posted by OldFart 

Is there a country that is actually getting an "upgrade" on their credit these days?.....wtf?...let's downgrade the whole planet into oblivion...why not....start from scratch like Fight Club suggested.

You just broke the first two rules of downgrade club

Quote:

Originally Posted by IchibomB 

 

intraday highs/lows aren't that important to me. 

I can see that on my daily chart with candles.

Plus, I draw trendlines using the close. Makes it easier to see. 

 

black and white charts are cool with me as long as there's some

good info behind them. 

I was just joking around man..........

Quote:

Originally Posted by jbrand1 

 

You just broke the first two rules of downgrade club

ouch...guess I have to downgrade myself now...

Quote:

Originally Posted by OldFart 

I was just joking around man..........

lol I know...just 'splaining

Curious to see if this continues to play. With the selling pressure we saw last Friday today isn't a very good indication for bears that the market is ready to turn over. Bouncing off of what's the lower support line from a descending wedge. Imo, I'm looking for a small bullish grind upwards possibly to the 1300 range then a quick leg down similar to what we experienced last Friday. Of course this carries a little bit of bias because I am long AMZN. 

Quote:

Originally Posted by o7media 

Anyway, I'm looking for more downside again next week. Not as much though. Looks like we're gonna be in a tighter range. I'm looking for a move down to around 1255 - 1260. And that's gonna be pretty big support there, so we should get a good bounce.

 

Didn't like the bounce too much today, but it was on some light volume.

Regardless, I'm still looking for a test of 1255 - 1260 this week. Didn't quite make it there today. Tomorrow should be interesting, if we can manage to climb back above the 200 ma I may get bullish. But for right now I'd like to see a test of SPY 126 first.

lol

Quote:

Originally Posted by jbrand1 

 

You just broke the first two rules of downgrade club

This market could spike up

Hopefully i agree to QE3.

i feel very good about being long here... especially commodities... banks (GS, JPM and C) are also good longs at these prices... USO and OXY are also 2 oil names i like here...

am i crazy? i dont think I've ever been this bullish. almost tempted to double down...

edit: wow i sound like i drank the kool-aid...

edit: i mean bullish short term.. i'd look to take profit at around 1305

Quote:

Originally Posted by Bernanke77 

This market could spike up

 

Hopefully i agree to QE3.

Hey thanks man. Will you initiate QE3 as soon as the DOW goes below 10,000 or something? K, thanks. I know you're busy and all trying to ruin the economy even further so we won't bother you too much.....

oh yea btw, dollar broke the uptrend that began end of april

ya that was on friday and confirmed it today partly.. its still sitting on previous peak.. so need another few days i think.

Quote:

Originally Posted by charulz 

oh yea btw, dollar broke the uptrend that began end of april

I feel the term QE at this point is in reference to EU as they will be the ones printing money.. All the US can do is extend twist as lame duck congress and elections rule.

While EU is screaming for USD to be printed im not sure they can do anything but extend bond purchases and other things already created.

As for the banks with huge derivative exposure as mentioned, i wouldn't touch them at this point. Regional banks sure since they are more stable than C or BAC or JPM at this point.

For a short term flip fine.. but long term as in a few months.. im not so sure with the margin compression and earnings which has occurred over the past 8 weeks and will effect earnings.

Just saying.. i could be wrong..

Quote:

Originally Posted by Venom08 

Hey thanks man. Will you initiate QE3 as soon as the DOW goes below 10,000 or something? K, thanks. I know you're busy and all trying to ruin the economy even further so we won't bother you too much.....

Well get a little; im tired of selling rally here, bounce around, chop chop to 1320 again or around there and then breakdown one more time..

Wheres waldo? ..

Gonna focus in on two names today: AAPL & PCLN

AAPL if it losses $558 which acted as nice support yesterday I think the low $550's come easily.

PCLN if it losses $612 could see $604 easily. $618 strong resistance