Stock Market Today : Sept 10th - 14th - Page 7
Nice bounce off of my monthly buyers auction (1423) mentioned EOD yesterday.
Monthly Buyers Bounce (Click to show)
/ES in still in my monthly buyers auction.
For me, this simply means that bulls still have the advantage on a monthly timeframe.
Below 1423 is back in rotation with the bulls losing the advantage and in a more balanced market.
Last month's poc at 1401
Looking at a weekly timeframe, price is inside rotation/development. (1440-1390)
Wide range after last week's mark up after accumulation.
poc from last week at 1405.
AAPL buyers just waiting for the actual announcement, so as not to suffer another disappointment like the 4s.
Hope your making on it - looks like short covering
Was watching BNN or CNBC (forget which) and a portfolio manager was asked about GRPN this is what he said (more or less in Jan/ feb of this year)
*We attended a shareholder/investor meeting and were shocked that the management seemed to have little idea of a business plan it all seemed a little airy and laid back, this coupled with the fact that they (GRPN management) were about 40 minutes late for there own meeting.... well right there and then I decided to get short the stock* Looks like they made a good decision
Buy4hi's obvious chart of the month (post yours if you too are a clown and missed one.)
Littlec&*nass often posts things like *look at the wedgie..somethings gotta give* I like back testing stuff to see where I went wrong (or right) odd how I can make a chart fit to suit my views.
Resistance soon few days left perhaps.
(I missed CLF went for TC instead/toss up) my portfolio is doing rather well * smuggness factor 27.5* (Don't screw it up Ben)
I'm holding some gold/silver positions and a gold miner currently, planning on holding until EOD tomorrow, depending on what it looks like, then sell two thirds of it before close. I'll probably hold 1/3 of a small gold position into thursday for the fed announcement. I really don't think Ben will give the market what it's expecting, but he'll cushion the news well... and just in case he does pull the trigger, I'll have that small gold position waiting.
RELOADING... PLEASE WAIT...
(There's an omission in the above chart. There was some more accumulation before the rally with no conviction)
SPY, 1 minute
I don't know if the first 2 green arrows were smart money, but if they were it's a very bullish sign. The only reason you would try to accumulate a line above VWAP is if there wasn't enough supply, which is plausible with the huge rally that we had on Thursday in the background.
I want to hear some opinions on whether you agree or disagree with my analysis concluding that SP500 is being accumulated.
Edited by Anton Katz - 9/11/12 at 4:50pm
GRPN had a pretty strong close above the 20 ma. Strong volume, should see some continuation tomorrow. Maybe go for $4.90.