StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 ... 17 18 19 20 21 ... 30 >>Post Follow-up
nikoschopen
2,824 posts
msg #62288
Ignore nikoschopen
5/7/2008 3:29:05 PM

Here's what the editor-in-chief at Briefing.com had to say: Taking a Breather.

I ain't so sure this is just a breather. When all this said and done, all the air might have been sucked out of the system and Bernanke and his cronies will be forced to drive the interest down to zero, zip, nada. There ya go, you have just been Bernanke'd!

nikoschopen
2,824 posts
msg #62295
Ignore nikoschopen
5/7/2008 4:25:07 PM

It's all too easy to get excited about the prospect of seeing the S&P plunge to its demise, but who sez it was ever that easy. The bargain hunters will most likely come swooping down like a opportunistic vultures driving up the prices in the process. But here are some points to consider.

mb504
29 posts
msg #62297
Ignore mb504
5/7/2008 5:00:34 PM

I'm sticking to the entry of the "Bear Flag Pattern".. (PUTS and SHORTS)

http://www.chartpatterns.com/flagsandpennants.htm



nikoschopen
2,824 posts
msg #62335
Ignore nikoschopen
5/8/2008 12:30:40 PM


Quote from nikoschopen:

It's all too easy to get excited about the prospect of seeing the S&P plunge to its demise, but who sez it was ever that easy. The bargain hunters will most likely come swooping down like a opportunistic vultures driving up the prices in the process.
As we're sitting pretty here at unchanged mark and getting kicked around by bulls and bears alike, I should reinforce the above notion that we'll most likely be trading in a fairly tight range today before bucking lower tomorrow (Friday). Should that happen, it should set the tone for next week with a plenty of economic numbers to be digested.

nikoschopen
2,824 posts
msg #62336
Ignore nikoschopen
5/8/2008 12:36:28 PM


Quote from mb504:

I'm sticking to the entry of the "Bear Flag Pattern"
It does appear as a bear flag on the weekly chart, but you also can't deny the fact that there's an ominous looking inverted head & shoulders pattern on the daily chart.

nikoschopen
2,824 posts
msg #62343
Ignore nikoschopen
5/8/2008 1:46:07 PM



nikoschopen
2,824 posts
msg #62348
Ignore nikoschopen
5/8/2008 3:03:12 PM

This would be an ideal setup for tomorrow...



nikoschopen
2,824 posts
msg #62360
Ignore nikoschopen
5/8/2008 4:26:51 PM


Quote from nikoschopen:

As we're sitting pretty here at unchanged mark and getting kicked around by bulls and bears alike, I should reinforce the above notion that we'll most likely be trading in a fairly tight range today before bucking lower tomorrow (Friday). Should that happen, it should set the tone for next week with a plenty of economic numbers to be digested.
"Fairly tight" it was with not surprisingly very negligible volume. Based on the last minute selloff in the futures, the probability of another distribution (to borrow EWZuber's phrase) is damn great in my opinion. As for my prediction made in the above chart, it turned out to be pretty similar, dontcha think? Now that would have made you more than just a tidy dime. ;^)



nikoschopen
2,824 posts
msg #62362
Ignore nikoschopen
5/8/2008 4:57:59 PM

Can anyone enlighten this dimwit why a stock like Citybank and other investment outfits that writes off billions of dollars on bad loans manages to rally when it claims to have raised or is in the process of raising more capital? How is it that to pour more money into sinking business is construed as a good news? Furthermore, what guarantee is there that the new capital will not be squandered away in patching up the bad loans? Maybe it's just me but I believe there are morons and there are THE morons.

nikoschopen
2,824 posts
msg #62428
Ignore nikoschopen
5/9/2008 1:45:37 PM

So is this a good place to buy or should you wait to see if the trendline gets taken out?

S&P 500 ($SPX) Daily


StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 ... 17 18 19 20 21 ... 30 >>Post Follow-up

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