Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Friday, August 29, 2008

Well, it seems like I can't sleep

The interesting synergy/synchronicity that the week of the democratic convention, there is a Hurricane to remind America that our current administration allowed one of our major cities to Drown.

And... that weird guy that was trying to get everyone to pray to get it to rain during the speech?

Kirk is betting on a fall.

Following the last couple of days, I can't wait to see what happens tomorrow. Do the bulls have the muscle to press on ahead of the long holiday weekend? I have my doubts, but we'll see what the tape looks like in the morning. Have a great evening!
Quantifyable edges... The guys who you should rather flip a coin than listen too...(ok, I'm being an asshole)

Points out the 3 day advancer rule. That we have had very few 4 day advances, and we should in a bear have few 3 day advancers, and we keep getting them... and that maybe this shows a change in the market.
So, Fib. I have targets of 132.5 and 133. And the super scary the 200day ma at 136... I could buy 133.
so the Invivo indicator, the current list shows 7 sells and a bunch of buys 42.... So, I did some research, and I think one needs to count the ratio of sells to buys on the gadget, I got 173-131 buys, which is Neutral..... I'm not sure I trust my read of this indicator, till I see it give a good signal. When I talked to Pete and Teresa, they gave me the impression we were in the later innings....
tough to know what that means?
the XLF.... well it set a higher low? will that mean that it should make a higher high?

Oil is up, and the futures are slipping. but again, the naz is down 2.5, and somehow the spx is down 5?

The dollar, isn't as low as it was a few days ago.. but it does look to correct...

This is a tough bet... We could have a "top" within next week, assuming I'm right about oil, and we get a good rally off of it..... Oil 100? would that be enough to test the 200DMA?

we should retest in October... but that could take what ? 2-3 weeks? Late or mid September decline?

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