Market Watch for week of July 20, 2009

Weekly is here, I updated it, since we had the breakout we were expecting, which gave a better estimate of a target - now if there is upswing, doesn't mean it will hit it, but with that resistance target lets hope it does.

http://www.scripps.edu/~davess/siri2...ekly-jul19.png

The 60 min scares me of course, since its so thinly traded, but our 9/39 EMA is good for now, but if I remember right (I have another funding deadline, so up around the clock tonight - and also have to plan my other trades - ie. got that call on AAPL to deal with, and maybe setting up other option plays on the big boards, not to mention the possible dump and pump on dkam) the stochchastics weren't looking too hot, but were pulling up.

http://www.scripps.edu/~davess/siri2...min-july19.png

I see that BCLE was up around .12-,15 a couple of times already this year. Was this on news or was it a victim of P&D a couple times?

Not that you should predict patterns to come, but BEHL could form a bullish pennant, so I'll keep an eye on that.

I glanced at my psychotic 15 siri charts - I see it did bounce off of .37 the other day - 0.37 was a triple support bounce - off of a fibonacci, a moving average, and the trendline from the descending triangle... but now it had a down day. Don't want to make a lower lows and lower highs, now do we. Keeping an eye on that, but good to see the bounce was on the money so to speak last week.

I got US futures trading up at the moment, including all E-mini index futures, along with commodities. AAPL reports AH on tues I believe. That may bring the NAZ up to its gap resistance. I think AMZN and PCLN are coming up, AMZN first I believe, need to check. It has a similar pattern to AAPL, that broke out of a triangle.

The Hang Seng and Shanghai indexes are both up pretty high - its odd, you usually don't see that - they usually have one up high, then the other lower or neg. Seoul is up too pretty big. DAX, CAC and FTSE up too over in europe, looks like financials leading. I'm expecting once the Nasdaq hits, we might get our pull back.

That's it for now. I gotta get back to work, and look up some option plays. It will be psycho for me today.

Quote:

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Originally Posted by thetree

I see that BCLE was up around .12-,15 a couple of times already this year. Was this on news or was it a victim of P&D a couple times?

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That I don't know, but was thinking of heading to the "wheel of misfortune" and checking out the posts from that time period - if you have time, I don't at the moment, maybe you could check out some message boards for those time periods if you get a chance and let us know what you come up with...

oh yeah bass - I'm not exactly bullish on the RTGV setup, once the breakout starts, and we get the pullback, lord only knows where the price will end up... I would figure if it heads back down to 0.04, its game over for that particular setup. But again, I haven't tried to play these very long, and have learned that once the setup has played out, its usually over with. The other possibility - of course... there's only 3 (up down sideways) is that we form a base. HAHAHa - so basically I'm saying I don't know!

My bad - AMZN already broken out, PCLN earnings not till Aug. In the meantime, Lot of bearish candles on the indexes.. could be a gap and trap today, and the nasdaq only has to gap to hit its resistance. flip flopping all over, I guess I'll just keep a close eye on my current call, and keep it at that.

Yup - bad sign - when you see this site look like this - with everything in unison, its usually trouble. A down day today, like a gap and trap would spell out turmoil. Man, my job drives me nuts, it gets in the way of the fun stuff - I usually try to get a full market analysis done by early sunday - its friggin 4 am and I'm working on other crap.

http://www.americanbulls.com/Indices.asp

Looks like my NY summation index is about to rollover - the cci (5) is usually the first to go... I found an 9 ema against it works pretty well.

http://www.scripps.edu/~davess/siri2/NYSI.png

well - I guess we are in the penny's so I won't neurotically slap up my other market charts - but whats expected is a pop for the nasdaq - I see that its one of the few on that candle summary link I posted that still has a hold sign.. then perhaps its down from there. Its a classic for the macd to look like its going to cross but doesn;t, how many times have you seen that?

crazy dave over and out.

Quote:

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Originally Posted by bassmaster

hey julie, welcome to the penny chasers club!!!! i think i met you on the sirius thread? lol. im soo cheesy! this side of town consists of a crew of people who actually make money on stocks!!!!

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Thanks for the welcome Los T and Bass. That was pretty cheesy Bass,
pretty cheesy. :p

Julie

Thanks Bass, all of it is welcomed and understood ....


In Pre- Immediate or cancel ... or ... Good for the day?

I know there is going to be a drop somewhere, so I am trying to gauge if I would want this to carry over or get filled in Pre ...

FWIW my entry is a chase me anyway ... .90 -ish

It's running @ 1.28 -ish

OK, scratched the pre- idea - Put in a limit order for .95 good for the day, for 500 shares. I am anticipating a take down at the open from these pre-levels ... Monitoring from there.

Come to Papa MM's ... :)

holy smokes CIT premarket it crazyy
GL Tib

Well, it's a half hour until launch. Let's see what we can come up with today...maybe we can make some lemonade out of the lemons. This summertime trading is always a trip.

I'm going to check out the wheel and see what is shaking there for news. Other than news, they don't have a clue. ;)

I am going to be watching most actives today and try and get a handle on something. I definitely want a milker...if anybody runs across one, please post it here so we can tease and dissect it.

If anybody finds anything that has the slightest bit of interest or potential, please post it. :)

bill whats your take on SARO, think it'll run today and continue the run tomorrow?

Quote:

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Originally Posted by Sean

holy smokes CIT premarket it crazyy
GL Tib

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Just wait till the open ... :)

I may never get filled, just playing conservative here. Got to hit the shower before the open ...

But thanks Sean ...!

Quote:

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Originally Posted by Sean

bill whats your take on SARO, think it'll run today and continue the run tomorrow?

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I haven't looked at it...let me take a look, Sean.

Sweet - I get to see the market open - I feel like Adam Sandler getting McDonald's breakfast!

Well, like some of you guys I gambled with CIT on Thursday and today I am 250% richer. Getting out now.

Thanks,

Sean,

SARO is an interesting chart. This is the first uptick that it has had in a long time. You will just have to see where it takes off at, whether it is going to break up or down.

For now, I would apply the three day rule to it, because it could come down as fast as it goes up. This would be a very short term play at this point.

Personally, I would see where it is going before getting really engaged with it.

If you look at the upticks, they really follow the three day rule to the bone.

It has a very good chance of dropping back down and going into consolidation.

If you look at its past history with upticks, you will see that they come down fast. The price is getting lower and lower. I would see what it does today and then try and make a determination. For me, personally, it would be a little premature, but that is just my guesstimation.

Take a look at the chart.

http://www.coloradohandyman.com/saro.jpg