Friday, August 27, 2010

Think about covering.

The Friday low looks to be here. Not as low as I had hoped.Friday at 2:35 Pm ET you can cover your shorts at 1070 if hit or right now @ 1062 if you want, but this may only be a gap fill to 1067 and for sure it is an over sold bounce.
You bought a bearish ETF at 1122 or better on 8-9, a second on 8-12 @ 1082 and a third @ 1060 on 8-24 but I didn't report it, because a long term cycle.
Still 1060+1082 =2124/2=1071spx
1122+1082=2204/2=1102-1070 =32 point capture.

Thursday, August 26, 2010

Trend still down til it isn't . Thursday Friday

I still look for a low Friday based on patterns I see. I thought I could add a spreadsheet here with the count. I can't! I have been calling for Friday low since Monday we will see.

Any-who I have a 144L Friday. and a 144H Wed 9-1-10. The Low so we get the EOM window dressing rally anyone :)
Todays high looked like that time frame. I think the HOD is in by 10:30 am Thursday26th and we go down rest of day.

The alternative is the low is at 10:30am and we rally all day. Use your own indicators!

Jerry went a blog'en

Wednesday, August 25, 2010

Wednesday 25th rally how powerful?

Wed 25th :
I don't think the rally will be as powerful for Wednesday as I first though. I wanted a close near L.O.D. Come to find out the Yahoo live chart I was watching had the low of 1048.88 ^spx when in fact it was 1046.68 so close, was not near the L.O.D. Then the ^vix spiked higher showing a lot of fear by investors. As long as it stay's above the 50dma it's bearish.
I will stick with resistance at 1085/88 ^spx but look for 1040/1010. Wait Jerry O you missed it by 6.68 points and that is not good enough? Not really a take out of 1040 opens the air pocket to down.
The market is over sold, but not sold out. Time will tell if they will write songs about me :)

I post at Khalsas pad and Time & Cycle group.

Tuesday, August 24, 2010

24th of August

We had no violation of the 1085/1088 area, that could be used as a stop loss, but the breakeven is 1102 if you want the path to bigger fish. I'm hoping this down trend will be in the 90 day time frame.
Pure speculation for tomorrow(Tuesday) but if we close at LOD (low of day ) or near it, it should be bought, as Wednesday could be a 1 day wonder up!
So far target is 1040-1010 SPX or SP500 and then see how oversold we are.

This is for fun and games. Contact your professional money manager and let them spend your money.
Jerry O
PS no charts tonight since no violations