tag:blogger.com,1999:blog-5888907630242568925.post5666303582123418694..comments2023-06-05T04:15:43.212-04:00Comments on Money Money Money: Even out the playing field?chaugnerhttp://www.blogger.com/profile/16378543210029732358noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-5888907630242568925.post-28287953902879924082009-03-23T16:11:00.000-04:002009-03-23T16:11:00.000-04:00high of 823.37, close at the highs. Speechless.Inv...high of 823.37, close at the highs. Speechless.<BR/><BR/>Inverse head/shoulder completion<BR/>bullish wedge breakout<BR/>strong break of 50dma on daily chart<BR/>v-bottom like rally<BR/>highest RSI value (daily) since May 2008<BR/><BR/>Unfortunately WAY overbought, more then I have ever seen here in the past, HIGHEST momentum value on the daily chart in like ever. <BR/><BR/>Good thing I played "lets be a bull for a week" on sunday. Could I have in any way seen this occur? Nope, the extreme levels from a technical perspective we are seeing here are incredible.<BR/><BR/>I will be providing more details, maybe get myself out of bed to do some charting.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-59635777594356867232009-03-23T15:54:00.000-04:002009-03-23T15:54:00.000-04:00of course do not go short now at 820. Too late in ...of course do not go short now at 820. Too late in the day now.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-29242088447336777222009-03-23T15:53:00.000-04:002009-03-23T15:53:00.000-04:00regarding to 800, I was more referring to what typ...regarding to 800, I was more referring to what type of sign this would be for our long term targets. There is trading below 800, and then there is trading above 800. There is never trading around 800. So from a trade perspective 800 is the border line for wide ranges in either direction therefore offering amazing protection for long and short positions on both sides. Of course I would have NEVER expected to run as far as we did today but I did mention that the market needs to put enough margin in there to allow it to retrace and use 800 as support. Being at 818 now (I would have never thought I would say this today) is a good amount of room to allow sell off to happen tomorrow to get back to the 800 and a chance to play the long side potentially. I am still cautious, we have gone up VERY FAR VERY FAST but we also got some great confirmations today.<BR/><BR/>7 minutes left. 820 anyone? lol amazing.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-88883467910420743042009-03-23T15:18:00.000-04:002009-03-23T15:18:00.000-04:00Hope you feel better. You have been of great helpHope you feel better. You have been of great helpsamamehtahttps://www.blogger.com/profile/17905476190756761913noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-56951868885429825142009-03-23T15:15:00.000-04:002009-03-23T15:15:00.000-04:00at home sick :(. I will provide more details tomor...at home sick :(. I will provide more details tomorrow of course. At this point no need to chase it but we made an important decision today.<BR/><BR/>When I said 820 I was more referring to a short term short as 820 today would have been too much too fast.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-83183782585127797022009-03-23T15:09:00.000-04:002009-03-23T15:09:00.000-04:00I am tempted to go short around 820 for short trad...I am tempted to go short around 820 for short trade. what do you think Chaugner?<BR/><BR/>I went long on FAS at pre market at 6.04. I am out of it by this hour.samamehtahttps://www.blogger.com/profile/17905476190756761913noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-35439214846359813662009-03-23T14:55:00.000-04:002009-03-23T14:55:00.000-04:00So if we hit 820 you would go short? I guess I do...So if we hit 820 you would go short? I guess I don't understand as I assumed from reading through everything once we broke 800, we would go long.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-24186166114679074712009-03-23T14:35:00.000-04:002009-03-23T14:35:00.000-04:00it looks like it will make new high now. how do yo...it looks like it will make new high now. how do you feel it will end today?samamehtahttps://www.blogger.com/profile/17905476190756761913noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-36260553855183764392009-03-23T12:53:00.000-04:002009-03-23T12:53:00.000-04:00take a look at MACD on the 60min. We have some roo...take a look at MACD on the 60min. We have some room left to hit the 820 from here. That of course would be a great short but 20 more points is not going to happen today. Its a coin flip at this point.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-75265979555504291062009-03-23T12:51:00.000-04:002009-03-23T12:51:00.000-04:00depends on how we close. There is a good chance of...depends on how we close. There is a good chance of closing above the 800 today. If that occurs the best scenario is maybe towards 790 but the market is going to try its best to put enough margin in there to leave the 800 as support. If we end up selling off towards the 780 range we got to be a bit cautious. It could either be the ascending triangle I was talking about or a failure of important support. Depending on how we trade there it will give us more signs.<BR/><BR/>I covered my shorts by the way and will be waiting out the next few days. It was a rather emotional cover as I am a strong believer of there being more downside gains then on the upside. Unfortunately it was a fairly large and leveraged position so at one point I have to say stop.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-38417856973692073142009-03-23T12:33:00.000-04:002009-03-23T12:33:00.000-04:00It did gp past 800. What do you think for today? t...It did gp past 800. What do you think for today? test back 760 in the cards?samamehtahttps://www.blogger.com/profile/17905476190756761913noreply@blogger.comtag:blogger.com,1999:blog-5888907630242568925.post-4231226033430073862009-03-23T11:51:00.000-04:002009-03-23T11:51:00.000-04:00considering how important today is, volume is rath...considering how important today is, volume is rather low. Definitly something to look for as it unfolds in the afternoon. I would have expected a lot more buying behind this move. Something to consider, not saying its bearish or bullish. My finger is still itching on the cover button so we will have to see what happens.chaugnerhttps://www.blogger.com/profile/16378543210029732358noreply@blogger.com