So... Tons of questions....
We are going up right? Ok.....
What do I play?
what sectors have are out performing since "Bottom"?
ok... here it is..... Our leadership
Emerging Markets
Transports
Retail
gold mining...
Let me point out gold only outperformed 1 day
and not Consumer Discr.
Not Energy
banks and tech are... maybe slightly outperforming...
Utilities seem ok...
and healthcare... those seem to be solidly outperforming...
I'm not impressed by the charts of most of these.... The "outperformers" caught a big bounce on thursday.. but are fairly poor performance wise....
So... I drew it out for you .... Nice little Elliot wave...
I just want to say.... If we go to 950... this is over.... no more retests... bla bla bla buy every 10 or 20% pullback
Either that or there is a little dying quail here... a little Head fake.. very little
Look at it... we consolidated, have built a base and we go to like 1200....
that is a clear base.
Now let us look at some sentiment....
are we hearing "buy the dip".... or the usual "somebody else should buy the dip"
So I guess Load up on FedEx... and Pacific gas and electric.... Maybe Target...
oh and I guess EEM... arn't those all materials for the most part.... why arn't they performing?
Huh????
So this is what I'm hearing "On the Vine".... Buy weakness/ Sell Stregnth
If you are having a hard time getting what I'm saying.....
None of this makes any sense, to me.
So... Good luck...
Sunday, June 28, 2009
Reflections...
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2 comments:
So TLT strength is not a run to safety, necessarily. I see your a-b-c followed by a wave 1, and that will bring us above resistance and the aversion E. It's all conflicting.
Other than that, I got nothing. If this market is tradeable, it's way over my head. I think it's all a guess and nobody's rationale makes any sense.
Sure, someone will be "lucky", but it won't be me. I'm cash and Treasurys til further notice. I'll look at the charts, but it's not really worth it to "bet" on this mess.
ya...
treasuries were the big outperformer last week...
but for some reason, it's not seen as a flight to safety.
Friday was lowest volume yet.
One of the squawk asia people said something interesting "With the best quarter in 20 years, why would you 'window dress' " but also there is a slow vacation week.
seems like a crap shoot...
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