[mact3333]

anybody remember this chart posted awhile back...TA doesnt lie, only humans...not sure what that means but it sounds cool.......this is why charts are so important, its cuts through the BS...I want targets people and why!.......this chart was posted 8 days ago.

http://screencast.com/t/XZn5GHfM1nse

ES/SPX should hit resistance just about now at 1318 level...what we do here will be key for rest of the year.

If mkts accept above this level we will hit new all time highs in the mkts in approx 6 months...if mkts reject this level, the bear mkt will cont and make new intra-year lows.

[stylinexpat]

SIRI is on a roll. Long term target I think we see $5

http://www.google.com/finance?q=siri

[mact3333]

SPX should see a high of 1322-23 today before the sellers come in and reject it hehe.

TF or Russell under performing...small caps usually tell the story regarding how much risk avg Joe wants...metals not up much despite weak dollar...I am sniffing at least a short term top today...we will see shooting candle formation today is my guess.

I just like to talk to myself...

[AngelinIsRich08]

Here's what I'm doing now. buying SDS ETF. It's an ultrashort s

[AngelinIsRich08]

What happened to my post??
Anyways Im bearish on this and it's Proshares TR Proshares UltrashortS

[AngelinIsRich08]

For some reason my posts get cut.

[AngelinIsRich08]

For Siri, it's great to go long on it but I'd wait for it to fall a bit when the jobs reports come out and it falls.

[AngelinIsRich08]

Siri! Why didn't I go into this again when it was $1.89 two weeks ago????!?? $2.24 now??? But it'll go back down after the jobs reports.

[AngelinIsRich08]

To add to my bearish sentiment jobless claims are at weekly 428k, they're over 400k for fifth straight week. Now do the job reports come out this Friday or next???

[AngelinIsRich08]

For 12 straight weeks.

[wren57]

I sold my SPXU at 17.40 Friday. Now it's at 15.60. Whew! Thinking about getting back in... a 4 day 4-5% rally is ridiculous just because Greece is kicking the can further. There still aren't any jobs, and a supply chain playing catchup from Japan is the only reason the Chicago index outperformed...

[stylinexpat]

SIRI DANG RENN and MPEL are all on a roll now. I'm thinking that since resistance has been broken on MPEL we could see it run to $16 now.

[wren57]

I don't see MPEL continuing its parabolic move to the upside. Anytime a stock bounces like that I like to get out, wait for a retreat, then get back in. The others have way too awful of a P/E for me to be interested in them fundamentally.

Remember this simple rule: when you feel greedy, sell; when you feel panicked, buy.

[xtac]

Glad I kept $p

[AngelinIsRich08]

Man I sold too early. Can't wait until the markets dip again.

[wren57]

Originally Posted by AngelinIsRich08

Man I sold too early. Can't wait until the markets dip again.

If you made $$$ there is no such thing. Rarely does anyone sell at the exact peak or buy at the exact valley.

[ES_TRADER]

BIDU....target reached..above and beyond...this is gonna be one happy 4th for blowing some winnings

[AngelinIsRich08]

Short sellers must've been killed this week. I don't think next week will be this good.

[wren57]

I think this rally is pushed by a few factors:

1) Greece isn't collapsing this month. That's good.
2) Stronger than expected manufacturing. This is likely just catchup to fill orders effected from the Japan quake
3) Psychology. Investors are tired of the market bouncing and want it to go up, so they buy in droves. Feeding frenzy ensues.
4) Dollar weakening
5) Short covering. Lots of people will hit a 3-4% stop and trigger a closing of a short position.

HOWEVER, there is still a lot going on politically and otherwise that could disturb the markets:

1) Debt ceiling is approaching
2) QE2 is over - rising rates
3) Chinese finance system starting to look shaky as their rates rise
4) Earning season - always a wild card
5) Consumer sentiment is bad
6) Job market is trash


This rally is short term and should be faded.

[Chowbow]

Originally Posted by wren57

I think this rally is pushed by a few factors:

1) Greece isn't collapsing this month. That's good.
2) Stronger than expected manufacturing. This is likely just catchup to fill orders effected from the Japan quake
3) Psychology. Investors are tired of the market bouncing and want it to go up, so they buy in droves. Feeding frenzy ensues.
4) Dollar weakening
5) Short covering. Lots of people will hit a 3-4% stop and trigger a closing of a short position.

HOWEVER, there is still a lot going on politically and otherwise that could disturb the markets:

1) Debt ceiling is approaching
2) QE2 is over - rising rates
3) Chinese finance system starting to look shaky as their rates rise
4) Earning season - always a wild card
5) Consumer sentiment is bad
6) Job market is trash


This rally is short term and should be faded.

I'm a little surprised at the drop in SLV and GLD with the dollar weakening. Small drops, but a little weird.

[AngelinIsRich08]

^^^^ I bought SLV as a hedge against the dollar. I might as well have bought the dollar itself by the amount SLV is losing me.

[wren57]

I think gold and silver had greece default risk priced into it. Also, with the risk-on trade back and money flowing into equities, a good bit of that is coming out of the metals.