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Post by maxi on Feb 25, 2010 11:58:25 GMT -5
WC, I don't play. Is that a harmonica in elle's pic? good for your dad for playing in a band! UK, You know, it looks like it to me. She has a great pic.,I think she did great to get her pic up. I'll work on mine this weekend. Good luck to all WC and UK. Elle's pic is a picture of a child. If it is Elle then it is Elle when she was 7 years old! I have yet to see Elle post an actual picture of herself. Common Elle give us a real one!
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Post by Clinton SPX on Feb 25, 2010 11:59:28 GMT -5
I can hear the market putting its stuff quickly in a garbage bag to run out the back door.
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Post by ukarlewitz on Feb 25, 2010 12:12:41 GMT -5
IT:
Exxon Mobil Corporation (NYSE:XOM) reported fantastic earnings February 1st, 2010. The stock jumped higher in dramatic fashion. Technically, the support from the low it made prior to earnings is still intact and likely to be a bounce area. That level is $63.50 to $64.00. If that level fails to hold, the stock may be destined to fall to $61.75 to $62.00. While a bounce is likely off the $63.50 to $64.00 level, it is highly likely that in the next month or two, XOM tags the $61.75 - $62.00. This is the ideal level for a longer term bounce in my humble opinion.
Verizon Communications Inc. (NYSE:VZ) has been crushed since the start of the year. On the first trading day of 2010, it made a high of $33.45. Since then, it has been straight down. The pattern right now on the daily chart screens in-spirit of bull flag. In addition, if we see more selling on VZ to the low on February 5th, 2010 at $28.31, it would be a perfect double bottom. Both signal a possible up move coming in the not to distant future. Not only is the chart attractive on VZ, but the dividend yield of 6.60% is not shabby. Seeing a dividend yield like this makes this technical chart have a nice fundamental cushion. Look for VZ to be a decent short to mid term swing in my opinion. In addition, AT&T Inc. (NYSE:T) is also on my radar if it gets to $23.50 area
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Post by ukarlewitz on Feb 25, 2010 12:25:50 GMT -5
GLD - nice bounce off gap fill. 108.5 is next R.
PAAS - silver. Bounce off 20.3 double touch low. Thanks to Mikey for that one.
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Post by ukarlewitz on Feb 25, 2010 12:30:59 GMT -5
Carl:
I am still long one unit and am sitting here scratching my head. I can't figure out whether the move below 1090.25 on this morning's economic numbers is a breakout (implying a move to 1075-76) or a shakeout (implying that this morning's low will hold).
The trend channels I have drawn on the lower chart ( 30 minute bars, 24 hour trading) and the upper chart (1 point box, 5 box reversal) still show room to the downside before the lower channel line is hit. This suggests we are seeing a breakout.
On the other hand, we have seen three pieces of bearish economic news this week which produced an immediate bearish market response (red arrows). But in each case once the initial selling was out of the way the market essentially traded sideways to up. This suggests we are seeing a shakeout.
I am not going to add to my position since I think that 1075 is stronger support than 1086 because it is the midpoint of the rally from 1040 to 1112 and also sits on a pair of channel lines (see upper chart). If the market struggles upward the rest of the day but can't move above the horizontal green line on the lower chart I will get out of my other unit expecting to repurchase both units near 1076.
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Post by worldclass422 on Feb 25, 2010 12:31:48 GMT -5
UK, You know, it looks like it to me. She has a great pic.,I think she did great to get her pic up. I'll work on mine this weekend. Good luck to all WC and UK. Elle's pic is a picture of a child. If it is Elle then it is Elle when she was 7 years old! I have yet to see Elle post an actual picture of herself. Common Elle give us a real one! Maxi, I think the pic is cute! Thanks for clarifying for us.
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Post by ukarlewitz on Feb 25, 2010 12:42:29 GMT -5
Buy program right here. Tick in the high 800's. First one of the day.
Maxi - your MO raised its divy.
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Post by ukarlewitz on Feb 25, 2010 12:44:58 GMT -5
A/D vol still stinks but has improved to 5:1 neg from 10:1 neg. 3:1 neg issues.
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Post by jack on Feb 25, 2010 13:20:44 GMT -5
A/D vol still stinks but has improved to 5:1 neg from 10:1 neg. 3:1 neg issues. Uk, Didn't realize PCX was a tangential play to your AKS: "A day after shares plunged 12% amid a temporary closing of a mine, Patriot Coal Corp. (PCX, $16.26, +$0.73, +4.70%) recovered slightly as Brean Murray analysts boosted its rating to buy from hold and put a $25 price target on the shares, saying their expectations for metallurgical coal, the type used in steel production, would be "extremely strong."" (from Eturd)
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Post by Clinton SPX on Feb 25, 2010 13:34:22 GMT -5
spy chart leaning to rally but common sense tells me they are going to dump it. not sure what to think atm
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Post by triggerhappy on Feb 25, 2010 13:49:00 GMT -5
buy program?
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Post by Clinton SPX on Feb 25, 2010 13:51:24 GMT -5
Sorry I doubted you mister chart
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Post by Clinton SPX on Feb 25, 2010 13:53:06 GMT -5
lots of Res in the 109.80ish
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Post by ukarlewitz on Feb 25, 2010 13:53:58 GMT -5
Buy program. +1200 tick. Hit 109.8 R. A/D improved to 3:1 neg vol, 2:1 neg issues.
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Post by ukarlewitz on Feb 25, 2010 13:58:05 GMT -5
Biggest tick in the past 10 days right here, on the heels of the other one: +1270.
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Post by triggerhappy on Feb 25, 2010 13:59:48 GMT -5
Sorry I doubted you mister chart I sometimes wonder if the big guys mess with us chartists and buy at exactly the time when we might sell... If you have money, you can move this market any old way you like... In SSO at 36.65...
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 25, 2010 14:01:40 GMT -5
Long VXX $27.0 Going to short X at gapfill
Still holding my balanced portfolio (FAZ/DRV/EDZ/TZA/ERY) in my IRA
Covered CREE earlier when someone posted ITMS did (thanks) - small loss after yesterday's run up
Covered HD earlier at $31.08 (small loss) that sucker doesn't look ready to go down yet
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Post by Clinton SPX on Feb 25, 2010 14:01:49 GMT -5
I think so they know most people read charts now
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Post by ukarlewitz on Feb 25, 2010 14:02:07 GMT -5
A third one even bigger: +1320. Might be the biggest of 2010. Very rare, in any case.
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Post by maxi on Feb 25, 2010 14:02:31 GMT -5
Buy program right here. Tick in the high 800's. First one of the day. Maxi - your MO raised its divy. I love my MO. I am just holding it forever...... Oh and my husband started his quit smoking program yesterday! LOL
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Post by Clinton SPX on Feb 25, 2010 14:04:34 GMT -5
Now ask yourselves does this parabolic blast off trigger a sell program?
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Post by triggerhappy on Feb 25, 2010 14:05:48 GMT -5
UKA,
I am looking at $TICK on TDA. The biggest I see is 1150. What am I missing?
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Post by triggerhappy on Feb 25, 2010 14:06:42 GMT -5
Now ask yourselves does this parabolic blast off trigger a sell program? Looks to go higher...
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 25, 2010 14:07:18 GMT -5
Short X $52.11
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 25, 2010 14:08:05 GMT -5
Short TOL $18.65
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Post by triggerhappy on Feb 25, 2010 14:08:21 GMT -5
Now ask yourselves does this parabolic blast off trigger a sell program? Looks to go higher... or not :-)
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Post by Clinton SPX on Feb 25, 2010 14:10:11 GMT -5
Bears will pounce at the first sign of weakness
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Post by ukarlewitz on Feb 25, 2010 14:18:01 GMT -5
Good to see you, pirate. That VXX is my new best friend.
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Post by ukarlewitz on Feb 25, 2010 14:21:19 GMT -5
UKA, I am looking at $TICK on TDA. The biggest I see is 1150. What am I missing? I'll post a chart later. You may not be missing anything. from what I have learned from Cobra, different platforms can have slightly different tick counts. Cosmic uses TOS and I use Fidelity and we have previously discovered a minor discrepancy. Follow the tick on your machine and calibrate extremes as appropriate. The main point is that we quickly became overbought (barring some surprising new development) with a series of ticks >1000.
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Post by triggerhappy on Feb 25, 2010 14:26:12 GMT -5
Great Uka. Thank you very much. I exhalted you for your humor. Too funny...
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