Click chart to enlarge The above chart of the Dow shows that we've broken through the first milestone, the 50dma. As mentioned in the previous post, our guess is that we'll be hitting resistance at November's highs at the same time we're hitting the 100dma. This resistance level will likely give the market a very hard time. Staying within a wide trading range between 8,000 and 10,000 is our prediction for all of 2009.
45 comments:
I just sold bidu, sina and cx. bought some shares for ldk in the morning
Note:
I plan to leave this blog for personal reasons.
If someone likes to communicate with me, please post your email on this blog, I will send some information via email.
Can you email me some buy or short. Thanks bigboy
Thebee360@yahoo.com
Me too. Please keep me posted of your moves. Thx
jamesxq@gmail.com
Me too. I hope you'd come back soon.
joundeal@gmail.com
I welcome your input bigboy8882008.
agd21@hotmail.com
IYR hits 40 it will hit the uptrending rsi resistance line. That will make SRS into a screaming buy. That's about 55 on SRS.
Scratch that, I think SRS will be down to around 53 when IYR hits 40.
bigboy,
i like your input, please include me in your list. thebat88@hotmail.com
At 14.55, LDK is at major resistance. I would sell here.
Please e-mail me also BigBoy. Always enjoy your commentary and stock picks.
bg_mail03@yahoo.com
Top stocks from Monday's Investor's Business Daily:
AFAM, EZPW, EBS, DMND, INT, AFAV, LPHI, APEI, ESI, BKR, GMCR, VSEC, SXCI, ACM, GTIV, PETS, INSU, PNRA, CMTL, AND HMSV.
Do your own DD, of course.
From "dumb" anon :)
Worst prediction ever - stay in a trading range between 8000 and 10000. haha that is so funny.
Icon,
Besides chart reading, consider chinese forum inferring LDK has successfully produce Poly. The news announcement will render chart reading inaccurate.
please keep me posted, bigboy. Sorry to lose you here...
snowykim_99@yahoo.com
Hi Bigboy
My email address is Johnson8c@gmail.com
I dont think so. If LDK is producing poly, the market already knew about it long before anyone on the LDK board. Anyone with over 10 million invested in solar probably has multiple insiders bought and paid for in each factory. And they arent sharing that info on the message boards.
Many of the charts in the solar sector are reading the same thing. FSLR, LDK, CSUN, TSL, SPWRA, SOLF, STP, YGE, JASO, and TAN are sitting right on key resistance points. If they break, then tomorrow will be a big day for solars, with lots of buy signals. Until then , I'm just going to assume they will bounce downwards.
Hi BigBoy, my e-mail is shunhua.shunfu@gmail.com. Thanks!
Hey BigBoy please include me in your thoughts!
sco3putt@msn.com
I agree with snot.
Take a look at VIX.
http://stockcharts.com/charts/gallery.html?vix
and also SSEC
http://stockcharts.com/charts/gallery.html?$SSEC
Bigboy...ahhsmith@gmail.com. Thanks.
bigboy
jnoxforall@hotmail.com
I do have a suggestion for you bud! STAY HERE bigboy! No need to create another separate group.
Lets all contribute to this blog!
bigboy, I agree with others. You ought to stay. The jerks here who ridicule others are a small minority. Respond to them, if needed, with facts and information, but not in kind with their rude ways.
"Dumb" anon.
Wow, what did i miss with everyone asking bigboy to keep emailing them? Anybody can say i bought X this morning and sold it for 30% gain.. Easy to call after the event.
I notice that he dosent call any losing trades either? anyone notice that? Sorry, but no one wins them all...
Now if he was doing as snot does and calling them in advance i'd be much more impressed...
conorsh, why don't you impress us all and just disappear. you are like that little piece of manure floating in a bucket of fresh cow milk.
I wish big boy would stay and keep posting his/her thoughts. I do not wish to receive e-mail from him/her, but would like to read thoughts in a public forum.
By the way, my LDK are all sold (by accident again, I set a rediculously high sell order that would never be hit, well it did hit yesterday). I would like to buy back some hopefully lower than where I sold.
The SPY chart is painting a bull flag, if it breaks, there should be a 7 points pop. Being options week, it could pop today and reverse sharply at 3 pm. There has been this 3-pm trader who makes big moves lately.
By the way, I sold my SBUX call at a slight gain by listening to icon. Well, if I held, I could have made more than double.
Wow, the posters on this blog have gone downhill fast. Are we on a Yahoo message board?
I believe the person who's now calling himself the "dumb" Anon misunderstood who the comment was directed at; it was directed at the Anonymous poster who told Charlene that "yes, you are dumb" when attempting to answer her question about Ultra ETF pricing, and then went on to state that the price of all Ultra ETFs were in part based on "how strong the VIX is" which as everyone here knows is complete rubbish.
Now "dumb" Anon- are you the Anonymous poster who said that? If not, then the comment was not directed at you.
Second, I totally agree with Conorsh. That bigboy8882008 has been reporting his trades just like Madoff!!! LOLOL!!! And any of you who actually think you'll make money following that person's "advice" will end up exactly how Madoff's sheep ended up- broke.
If bigboy is SOOOOOO great then let him start his own blog and everyone who wants can go follow. All he's been doing is clogging this comments section up so good riddance! I especially liked it when he said on here "I don't tell all trades on blog- some two good to share with you" basically saying he'll tell you what he wants and screw you on the rest.
Good luck and goodbye TeenyTinyWeenyBoy!
Eye bye AOL at $10 in 1992 and sell at $120 in 1998 make money laff at you all. Too late don't trie to do what Eye doo.
Want me two send you emails too? :)
POT nearing its 50 day MA. Will be interesting to see if it can break it.
SRS up nearly 20%. IYR hits 50dma at around 36.50. That is when I will unload 3/4 of my SRS.
I agree with Conor in the sense that it is awfully easy to post winning trades. I bought Ford at 1.03. I've caught a falling knife more times than I can count, but its just speculative play, and it doesnt mean anything. I've also cut my hand open. lol. I've been posting my trades before making them, and more importantly explaining my methodology. Anybody can look at the chart of IYR and know exactly why I said it would bounce off of 40. It's repeatable, explainable, predictable. Like Snot's price channels. (IYR @ 40 was also the top of a channel btw.) This is what interests me. "I bought this and this and made a bunch of money" doesnt interest me at all. I only want to know why. Some people think there is a fine line between technical trading and gambling. I think its a gulf or a chasm, not a fine line.
To Kenny,
I, the "dumb" Anon, am not the Anon who told Charlene she was dumb, so I was confused thinking your remarks were directed at me. However, you still don't understand. You need to read the links I provided. The greater the volatility, the more the math on ultras is going to work against them long term. As one of the posts noted, the only way an ultra long will really work 2x long term is if the index it tracks trends up without much volatility for a long period of time. Otherwise, the ultras, long and short, are better only for short term trading. Since VIX is related to volatility, it does have something to do with it and you, dear sir, are in error.
As for the quality of posts on here, your posts seem only to be taking cheap shots at others rather than providing something of substance, as I have done with links to decent information or the list of IBD's top stocks. Is Kenny the pot calling the kettle black.
And with that in mind, namely, providing something of substance, the Wednesday edition posted IBD's 20 rules for investment success. Some of them were interesting. #14 in particular made me think of some of Snot's advice in the past: "Don't buy because of dividends or P-E ratios. Buy the No. 1 company in an industry in earnings and sales growth, ROE, profit margins and product quality." And #18 sounds like Snot: "Don't try to bottom guess or buy on the way down. Never argue with the market. Forget your pride and ego."
No longer "dumb" Anon.
Please participate in our new poll about having everyone who comments here be required to have an ID.
Our accounts have been treading water lately. Gary has been doing well relative to the market. He's up 2.5% over 6 weeks. The S&P is down 8.1% over the same time period. Gary's approach cannot be judged over a short time frame. It takes months for the big trend of these stocks to finally start paying off for him. Overall, his longs are moving up and his shorts are moving down, so his portfolio should continue to outperform.
Seems as if oil has been detached from the other commodities. Ag stocks have done well over the past month, and oil is at a new low today.
hk22,
Do you still own Faz and Fas? What is your speculation on them in short term?
Thanks
I have to say that I come here strictly to hear what Snot has to say on things. I like his commentary and measured advice. All of a sudden there are several others on the board posting what seems like daytrading advice. I don't get why there are so many posts from these people. I don't think they are wrong or have anything against them per se' but I agree with the suggestion that at least one of them should start there own blog. Seems like a distraction from Snot's Blog.
Hi Snot,
Are you still bearish of AG stocks (mos, pot, agu). Broker upgrade and POT is up 100% from low? Pls give us your input. Thanks
what do you guys think of AOB?
It formed a diamond bottom and this could go to $8.50 - $9.00
Any opinion?
thebat
Squarepeg, I agree with you. I come here first and foremost for Snot's advice, and second for links to credible information elsewhere on the web. The rest is noise.
J
ICON--Thanks for your advice on IYR, it made my afternoon with SRS quite profitable. This is what i love about this blog!!!
Thanks again
Ordinarily I would not say that a poster should be required to have an ID, but given the recent deterioration in the comments on what is clearly an otherwise outstanding blog I have voted to have one required. Hopefully that will limit the riff-raff.
A comment on the day-trading: Snot rarely, if ever, posts an intra-day chart. If he/she does, it is usually to point out an interesting feature of the stock, not to elicit a buy or sell. For those of us who don't sit at a computer all day watching multiple charts and screens, this intra-day stuff is of very little relevance. I would hazard that most folks following this blog are more interested in the medium to long term flow of the market.
I wholeheartedly agree with Icon in that the reasons behind a trade are what interests me. So far, by the way, Snot is about the only one who is open with his/her bad trades. That is one of the main reasons why I follow this blog: someone who admits when they are wrong.
Snot: I notice the dow broke below the 50dma today about as much as it broke above a couple of days ago. Same with the S&P, and nasdaq looks like it moved downward right at the 50dma.
Does this signal a bearish trend now? What's your take, or those of any of the other posters here, about the indexes and how they moved in relation to their 50dma today.
Thanks in advance,
RL
RL,
I agree, it is very interesting. I'm not sure what to think of it. I sold my shares of LDK yesterday EOD and rebought them at 13.08. From looking at the charts, RSI of S&P and LDK are sitting at the bottom of an uptrending line. I don't think we broke through. I believe we will move up from here, otherwise the market will crash again!
Icon, can you confirm this? What do you think of this price action?
j
I voted yes to the new poll. I hope we don't have too many annons in here to out-vote us. Looks like they have the ability to reproduce very quickly. :-)
Dont you guys like how OPEC's surprise cut backfired. Thats how bad things are in the demand side.
Expect a lot of dept repayments, less spending and more saving in the upcoming years. Overall it was a good lesson for everybody to learn. On the other side I still get credit card offers. Haven't they learned anything yet?
Regarding my position "annon" I have small postion in FAS.
Other than that im 80% cash.
My NEW Years resolution is to be short next year :-)
Thats once SPX and VIX get close to their 200dma.
LDK... Having bounced off a resistance line, and closing on no support, it is a solid sell signal.
STP is in a similar position.
So is SPWRA, CSUN, ENER, JASO, SOLF, and FSLR.
However, YGE, SOL, TSL are sitting on support lines.
That's 8 sells and 3 neutral... not good.
I would be shocked if solars gain tomorrow, even if the autos get a bailout that doesnt involve the word "bankruptcy".
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