I was looking at the SPY,QQQ,RUT,MDY and NYE--X, and only NYE--X showing robust strenght on this rally leading the pack. The Average Directional Index have risen the last four days while the other sector are still drifting down. Energy sector will lead this rally. IF the other Index ADX rise to join Energy sector, then we will have a sustainable rally toward December. One other thing I want add, if you are watching the MACD, The wider the gap on slow and fast average is the strenght of the rally, closing the gap and tighthening is a weakening tendency, but if it open up again instead of crossing below, then it pass the test and a continuation of rally. Lets learn together! GLTA
Pat I still look to that mid-60 pullback, even if we hit $72 or $75, mid-60 is still the wave two correction target. I am watching it and I will post when wave one run out of gas. Elliott wave oscilator should pullback to the zero base line for wave two and move higher again for wave three. When wave one is done and wave two pullback to mid-60, then we can see clearly the wave three target.
Stock - hope you put something with the spitzer water otherwise you were wasting perfectly good carbonation. Agree with the post - it appears many Greeks have no appreciation for their history and don't want to furthur that legacy. At one time they were the crowning jewel of mankind - we need to be careful folks, in the future, don't point at us and make the same comments.
More than 100,000 people took to the streets of the Greek capital to demonstrate against the austerity bill.
This is the time of day I have some spritzer, so I might be waxing on a bit more than warranted. I know a bit more about Rome and Athens and its history than the people that live there, but then so what. The idea is to have a bit of reserve and submission to the elders and the history. When I visit Monticello, I don't get the idea I could be more inventive. That guy had most of the ideas adjoining Renaissance and New World. I don't like to see smoke and tear gas greasing ancient monuments. If we could redirect that passion to Adelphi and some construction and development, if only stone. Leave the arches to the Romans.
We should be happy with our fortune while cognizant of what could be should be let down our guard.
Went 100% cash at the close. Market appears overbought and with the Fed announcing, this afternoon, they expect slow growth for the foreseeable future, I suspect we may have the pullback to the mid 60's range. Probably overly cautious but better to take the profit and use it in the next entry point. GLTA
I want to add that the Energy sector and RDS.A prices are bullish cross October 10th above the (Japanese) Ichimoku cloud.
Hey guys, if you don't want to here about Indicators, and seem boring, let me know. If it help, let me knew also. Thanks ray
I look at all the information available (fundamentals, news, indicators and trends) - including the info that you provide on the indicators that you watch.
Depending, when I trade, I sometimes am in step with your indicators and sometimes contrary to them. Nothing is valid all the time so, judgement also comes into play.
I try to post all of my trades.
Trying to decide whether to take the $1 profits on the calls I sold this morning - but am leaning to waiting until I see what tomorrow brings...
Ray - good to hear about the those indicators and what they mean. Another indicator which is rearing its ugly head again is the Greek situation - crucial vote tomorrow in Greece - if the austerity measure doesn't pass then "Katy bar the door" since Greece may not get another aid package after this one. Europe news seems to drive the markets right now - I may sell all at the close today and bank the profit - getting too iffy for me. GLTA