Interesting Stock Market Chartist Talk

[carlton_fritz]

If there is a stock that anyone would like to see tank, and cheap enough, let me know and I will buy it.

[polarbear]

Originally Posted by Jeff '79

Can't you post one with the 50 & 200 drawn in ?

Try this. Not what you asked for, but look at how it reacts to the sma's. This is a 3 yr chart.

[MrPeabody]

-800

[Will]

-1,500 a few minutes ago, back at ~1,000 now.

Do I jump out of my window yet???

[MrPeabody]

Originally Posted by Will

-1,500 a few minutes ago, back at ~1,000 now.

Do I jump out of my window yet???

Nah, man up and shoot yourself.

[Will]

Twitter

[Iron Chef]

Nothing but a market correction...and one that's long overdue.

[Jeff '79]

Good stuff
There will be a fire sale very soon.

2530 is just around the corner.
Buy with both hands at that point

[Cybercowboy]

And if anyone asks, it is now officially Trump's economy according to the internet. Mark that down.

[Jeff '79]

Originally Posted by Cybercowboy

And if anyone asks, it is now officially Trump's economy according to the internet. Mark that down.

Like Polar Bear said, Janet Yellen, Wells Fargo thing had a lot more to do with this drop than anything else. Programmed selling did too.

[DAB]

about time to go bargain hunting.

[polarbear]

Originally Posted by polarbear

Try this. Not what you asked for, but look at how it reacts to the sma's. This is a 3 yr chart.

Kinda coughed up a big hairball there.

[Jeff '79]

With the futures down almost 800 pts, it's looking like tomorrow will be the day to jump back in.
Man, that was fast.

[Cybercowboy]

One thing I've always said because I've heard smart people say it, any time a bunch of people who never talk about the stock market start talking about the stock market, about how great it's doing, it's time to sell.

[Will]

The correction is now hovering around a 10% drop from 26.6K DJIA.

What's the bottom???

[Will]

Originally Posted by Cybercowboy

One thing I've always said because I've heard smart people say it, any time a bunch of people who never talk about the stock market start talking about the stock market, about how great it's doing, it's time to sell.

Pretty much.

When Bitcoin was at 18k and John Doe Mr. America was talking about the bitcoins, I knew we were at the top.

Too bad I didn't know when it was a coupld hundred bucks that it was going to shoot up.

[Jeff '79]

Any thoughts on today's massive reversal ?
I thought that it would have happened yesterday, but it happened today and the market closed down hard in the last 5 minutes of trading today.

I dunno what is going to happen, but I am staying with my plan of staying in money market in my 401k account until clarity arrives.
I think the recent lows will be revisited.
Thoughts?

[Jeff '79]

Originally Posted by Jeff '79

Good stuff
There will be a fire sale very soon.

2530 is just around the corner.
Buy with both hands at that point

I will quote my own post.

If the S&P blows through and closes below 2530, the 200 dma, just 50 points away, it'll be look out below.
There will probably be another relief rally, but the 200 dma will be hit
If it bounces off of it twice, we're out of the woods and buy , buy, buy.
I can't stress enough, how important 2530 is.
Today was brutal.
Everything closed down hard.
Not good. That is if you're in equities.

[polarbear]

Originally Posted by Jeff '79

I will quote my own post.

If the S&P blows through and closes below 2530, the 200 dma, just 50 points away, it'll be look out below.
There will probably be another relief rally, but the 200 dma will be hit
If it bounces off of it twice, we're out of the woods and buy , buy, buy.
I can't stress enough, how important 2530 is.
Today was brutal.
Everything closed down hard.
Not good. That is if you're in equities.

The nice thing about using technicals (whatever method you choose) is it takes the emotional element out of the equation. Counterintuitive as it may seem, folks tend to bail when things are going down, and buy when the markets rocketing up. "Buy low sell high" sounds great in theory... but it takes nerves of steel to actually execute in practice.

I'm in agreement that we're getting close to a decent entry point.

Commitment of Traders

Commercials are net short, but not by a huge amount. Unknown how much of this is actually just hedging existing portfolios. (Own the stock, but short the market as a hedge.) Think of it as an insurance policy.

[JRD77VET]

Non binding opinion requested

In April, I will be at my new job one year and will be moving my 401k to where I work. ( it's currently at my old employer's and earned 15.6% as of last month )

I am assuming i should wait until the market stabilizes and then actually move it to the new 401k agent.

Thoughts?