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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (48324)	4/7/2013 11:42:58 AM
From: Gary105	Read Replies (1) \| Respond to of 221917

Good point. We are at/near support. On the other hand if support fails watch out below as there are many unfilled gaps below.

To: GROUND ZERO™ who wrote (48324)	4/7/2013 12:23:12 PM
From: Fintas	1 Recommendation Read Replies (2) \| Respond to of 221917

As a long that holds for YEARS, I am always watching the daily activity, weekly activity,monthly activity to determine what is near term selling or long term selling. As I do I monitor near term buying and long term buying. As I do that I can keep things in perspective to wait patiently for a target and as I do watch a stock go up, down, up, down, OH my gosh it's going down. Or the oh boy it's going UP. Yet in there is the objective view the stock has more to go up YET needs some selling. A good ex would be GE. Just begging to hit the 24 yet so close but nope. Not the first time at that attempt but 3 or 4. HO HUM. SO I guess it goes to zero. NOPE.. It pulls back to let some take profit, others come in to move HIGHER to take out that 24 to head to the next layer of 27/29 and eventually a target I have presented much higher. SO now to ms spx. The near term momo shows some excessive selling. So yup a bounce could occur but do I think that bounce will take me to the promise land or 1620/1786/1944 and eventually 2900 that I have in my sites. NOPE.. NOT YET. Those numbers will take TIME. Accordingly I do not any near term BOUNCE is going to take GE to 34/40/50/60. What I do see as I do my work is that the WEIGHT of information strongly suggests many a sector is too far right on the bell curve and I have been observing some now shifting left. There will be more shifting left as I have presented recently and that will continue in spite of any bounce. And as I have presented ad nauseam this selling is going to take TIME to unwind. That is good in some aspects because it will allow some equities to build higher bases due to the many buying recently. The bad is time means TIME. So when that selling happens and those who are caught buying too high they will have to deal with the uncomfortable TIME of watching an equity drop..bounce a bit, drop further, bounce a bit, drop further and causing heart burn. Or as I have presented live thru JPM making it's way back to fill gaps lower. Pick a number 38-42 ish. STILL a great move from the 15 ish in 2009 or the 27ish from 2011. Yet for that person in there at 51..some heart burn. That's how I see it playing out. I've positioned accordingly and now just watch it play out as I have been with Apple, Gold, Crude. ( I had crude going to 37 when it was 150 to the chagrin of many. I then had crude at 110 off that 37 as it then went to 116 to the chagrin of many). OH I do NOT see crude under 70 anytime soon. To me all of this is a game. NOT long ago in 2010 I was doing the we are not going under spx 950 after the push to 1134 ish to the chagrin of many. Now I do the we are not going to /1700/1800/1900 before we retrace to the spx 1300, put in a bottom and bring those sectors from the 64 area to the 45 area alas to the chagrin of many. UGH. All of it said as a BULL that is holding core and expects them ALL to move much higher over TIME. So we shall see how it plays out. Tomorrow is and will be a blip at some point as to how it all plays out. Oh and when we look at the chart you present I see TWO gaps up that I expect to be filled. NOT if but when and how it is done. Fintas :