| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 1/14/2007
Posts: 15
|
Oh, say can you see  , by the dawn's early light  a flag formation on the DJ-30 chart  that is nearly complete...
|
|
Registered User
Joined: 4/17/2006
Posts: 271
|
What kind of a flag are you seeing and what is it telling you? Help appreciated as I'm fairly new. Thanks!
|
|
Registered User
Joined: 2/7/2006
Posts: 218
|
sharkattack....go to google and type in flag formation and click the first link...its actually a nice summary with a great representation of macromedia (MACR) and it lists what indicatiors would look like...very thorough...
|
|
Registered User
Joined: 1/29/2005
Posts: 104
|
Today's activity reflected that the bulls are still very much in control. The long shadow was the bears' attempt to take charge, but the bulls ruled the day. The other indecies finished positive and above their 50ma's, indicating a higher push tomorrow. The Dow 30 showed higher in tonight's trading as well.
I wouldn't be surprised to see a positive open and a strong finish tomorrow. The bulls are still in control...
|
|
Registered User
Joined: 2/7/2006
Posts: 218
|
swingtrade...are you referring to the dow as being an inverted flag? i can see that which suggests a downside risk of 550 pts or so which could refer to a test of the 200 sma when it is confirmed...ideally a flag is resolved in 15-20 days and we are just about 20 days into this...
on the other side if you see a positive flag please enlighten me i would welcome a different point of view to keep myself sharp and in check...
for anyone else if you dont know exactly what a flag formation is refer to my post above...its a great representation
|
|
Registered User
Joined: 2/7/2006
Posts: 218
|
Ipark...volume is very light right now and although i believe we are in a great bull market, intermediate term ive turned bearish...i think infastructure plays will be good during this time and more selectve picking is needed until we get out from under this subprime shadow and with oil going higher and the iran political issue added to that i get a negative picture...my mind makes me want to think a correction to 11000-11500 might be in the cards looking at a weekly chart im looking at simple moving averages and i would conisder the major averages very slightly above the 50 dsma and not confirmed yet...i think tomorrow will help with that....if you dont see any downside risk enlighten me to what you are looking at and how you came to your conclusion...i think swingtrade might have opened my eyes to an upside down flag...
|
|
Registered User
Joined: 4/17/2006
Posts: 271
|
Hi, AK. Thanks for reference for flag formation. Appreciated. I'm somewhat familiar with flags, had not heard of but now have basic info re what an inverted flag is. I guess what I was asking Swing was what his own perception was and what he made of it. I can't assume that what I see (or how I interpret that) necessarily coincides with what he sees (and how he interprets that). Thanks again for reference. It was, indeed, an excellent article.
|
|
Registered User
Joined: 1/14/2007
Posts: 15
|
AK, looking like a bearish flag formation to me with a test of the 200 DMA.
|
|
Registered User
Joined: 2/7/2006
Posts: 218
|
cool then we are agreed....it should prove to be a great buying opportunity
|
|
Registered User
Joined: 1/14/2007
Posts: 15
|
Yes, for short term trade I agree. But I think a bear market is right around the corner. I've been a Realtor for 30 years. I sold my property at the top of the market in December 2005 and am now renting. I expect this housing calamity to put us into a recession real soon.
Bill Fleckenstein who writes for msn.money has been talking about the housing bubble for the past couple years. Check out the article he posted today and others like it he has written:
http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/BlameGreenspanForThisBubbleToo.aspx
Good trading to you all!
|
|
Registered User
Joined: 4/17/2006
Posts: 271
|
Thanks, Swing. Have you happened to see the "Mortgage Lenders' Implode-o-meter" site? Very interesting.
|
|
Registered User
Joined: 2/7/2006
Posts: 218
|
lol i sold my first house in august of 2005 when i was 25...i believed the same thing...40 year lows on rates to me means 40 year highs on the amount people can borrow..granted payments might be similar but the balance you owe is huge so if perhaps there is an excess of supply you have a greater margin of risk...and you get no opportunity to refinance in the future!!
|
|
|
Guest-1 |