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  • FunnieBucket FunnieBucket Jan 27, 2009 4:13 PM Flag

    DOW is in bearish descending triangle

    dude, maybe i am reading this differently than you are -- if we break out of the resistance range of S&P 500 LEVEL of 840-850, then we are going toward 895-935 area as the next pit stop

    but i still dislike BBT

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    • jams5006@att.net jams5006 Jan 27, 2009 4:22 PM Flag

      Fun what is your expected time range for 900 or so? I am hoping for at least the middle of next month. ALthough March will be dividend time for most I wander if 900 will have to wait till then. The trend seems to be moving up, albeit small day by day increments.

      • 1 Reply to jams5006
      • time is not as important on this next move since we already faced a time period recently, so we are only left with #s which leaves time out of the equation -- although it has been a small tougher climb this last move up off the lower #s, a fast snap up could happen at any time, so it's out of our control at this juncture -- but if we keep trying to press and take out the range of 840-850, then we would have resolved the dispute at that price and call it a break-out to the upside -- although 795 is still on the table, 795 would seem less likely if we can close over 850 -- in addition to those thoughts, if we toss in the variable of RSI on a 6-month and 1-year basis, it could be getting close to giving us a buy signal based on price only, not time

        if you are hoping for the typical weeks to a certain # answer, i am sorry, but that is not how it works anymore, those were the olden days of yesteryear -- this market could run to possibly 1,000 to 1,050 S&P 500 Range, but there it would turn into a definite SHORT -- at that time i would announce specific trade entries that would give you the best bang for the buck as well as lowest risk best reward ratios

        the following statement may or may not happen, and i am not saying it is going to happen, but there is a possible chance of setting up a financial/commodities/energy crash toward DOW 6,000 to 5,500 area -- i know that sounds to most people as unbelievable, insane, or unrealistic, but it is still possible and if we do climb within less than 4 months/no later than end of June which is End Q2, then this scenario is given a better than 50/50 chance, whereas before it would be less than 33% chance

        jams, the real question is what am i doing, what am i invested in, or what am i going to do -- this is what i wish other investors would ask, cuz what i am in, or doing, is more important than what i think, cuz my investments will play the most likely scenario, with the best risk-reward ratio, rather than guess the lucky moves maker

        i have covered all shorts on the S&P 500 Index a little ways back, i am going LONG the index again if we break-out 850 -- i was buying dips toward 815-795 area, and sold them as we entered the 840-840 unresolved dispute area -- also if we have our break-out, i will stick with my few trades i previously disclosed all over these yahoo message boards, and i will wait for the index to top out, whatever that # may be, and whenever it happens, cuz when it tops out, we will know it when we see it, and get Re-Short the index for the Re-Crash -- i will also have picked out a few extra goodies for that crash on the Short side, so stick around, this is gonna get real good

        i am playing BBT the following way:

        i covered short, if BBT rallies to a level i see and like, then i will Re-Short BBT at that point, but i am letting the trade come to me, i won't chase the trade -- i am not going to go LONG on BBT cuz i can't tell if it will join the index or not since it is selling below its 50-DEMA

    • onetinybear,

      this is clearly what i was looking for, a break-out of the 840-850 with a close over 853 would explain it nicely

      can you post a link to a chart that you saw as a 'DOW is in bearish descending triangle' -- because it still may be possible that you are right, but the timing of your post out egg on your face -- next time tell us your Y-axis Time Line variable that you read it off of so we could tie it in nicely and use this rally into the next high to re-short, which would a great help, especially to a trader

      don't fret just yet, you still may be correct on your assessment -- investors need to beware if this event is still on the chart possibility table

 
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