| hohandy |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Tuesday, December 21, 2004 |
| Wednesday, August 17, 2011 11:18:48 PM |
902
[0.31% of all post / 0.13 posts per day] |
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Headline on Yahoo Business page:
What Happened to the Rally?
S&P hit 1228.93 this morning - that's what happened to the rally...
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c'mon Dice - you gotta make it rhyme
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My fib numbers for the Oct 07 high - Mar 09 low show the 61.8% retrace level to be S&P 1229. That area has already held twice - in April and in Oct./Nov. Peaked over it intra-day but couldn't close above it - which to me a hugely bearish sign considering that was the big reaction to the tax cuts.
If it was just another run-of-the-mill support/resistance line I might take it as just another grain of salt - but the fact that its an extremely significant fib line - which has held twice - gives me pause to give this just a bit more respect. To me, that's the value of fib-type lines. Like everything else, they aren't a sure thing, and shouldn't be treated as such. However, the fact that they're there could be looked as adding extra significance to the events that happen in their area.
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oh - forgot to mention - before it crashed, AGQ easily reached and went past the 147 mark from Nov 9. MACD(H)=100 (and the HNC/Diceman setup) worked admirably again!
Hear that td?
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the current silver price spike peaked (albeit most likely only temporarily) today and once it became apparent that the $30 line for silver wasn't going to hold, I sold out of AGQ and switched over to its inverse ZSL. Total haul on this leg for 3 weeks was 36.8%. Today's ZSL gain post-switch was 6.9%.
I don't expect this pullback to last long - AGQ had risen way too far and was ripe for a pullback, which I expect to be until the 20ma (currently at 128.02) is reached - AGQ has found support here several times in the past couple of months. Or until the silver price clears $30 again. whichever comes first - and then I'll switch again - it's all good
So far my total return since mid-October playing the AGQ/ZSL play is just a bit over 90%. Hear that, td? 
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another nice pop today - I'm in at 110.12 - made about 14% in ZSL on the way down.
MACD=100 back at AGQ 147 last week makes a nice 30%+ target :-)
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I'm up 4.5% today - well over 50% so far for the month - how's it going for you there, TD?
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QUOTE (tdmartha) You cannnot disconnect stocks from politics, or economics. They go hand on hand together.
If you think you can do that - I say dream on.
considering that this is a forum for discussion of the Worden TELECHART product, which is almost primarily and almost exclusively a technical charting product, I've got to wonder why you're spending time hanging out here in the first place if you don't believe in technical analysis.
There's nothing in the TELECHART product that has anything to do with politics - declaring that "you cannot disconnect stocks from politics" pretty much ignores what TELECHART is all about. Using this forum to promote politics while pretending that TELECHART and what it is used for doesn't exist is abusing the forum and showing great disrespect to those who are here to discuss TELECHART - it's not as if there aren't way more appropriate places on the Internet to discuss politics - take it someone else because you're driving away the people who don't wish to discuss politcs (as if you care).
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Off-topic post removed.
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Off-topic post removed.
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