Comments on: 700′s or Worse, and Soon http://www.focalequity.com/2008/11/19/700s-or-worse-and-soon/?utm_source=rss&utm_medium=rss&utm_campaign=700s-or-worse-and-soon Tue, 24 Jan 2012 18:53:55 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Unersaettlich http://www.focalequity.com/2008/11/19/700s-or-worse-and-soon/comment-page-1/#comment-12979 Unersaettlich Fri, 21 Nov 2008 04:47:29 +0000 http://www.stocktock.com/?p=9525#comment-12979 He also looks for a bear-market $SPX rally back to the low 900's, an excellent opportunity to reload my levered bear ETF's after Thanksgiving or thereabouts. His advice not to trade during the holiday week makes sense. He also looks for a bear-market $SPX rally back to the low 900′s, an excellent opportunity to reload my levered bear ETF’s after Thanksgiving or thereabouts. His advice not to trade during the holiday week makes sense.

]]> By: Unersaettlich http://www.focalequity.com/2008/11/19/700s-or-worse-and-soon/comment-page-1/#comment-12972 Unersaettlich Fri, 21 Nov 2008 03:12:49 +0000 http://www.stocktock.com/?p=9525#comment-12972 The pink and white downtrends now looks like the operative pennant definitions, only they are becoming more like channels, with the Expanding Triangle broken downside along with the support for all pennants. I updated the $SPX chart accordingly, and will post it, along with a long-term weekly chart. I did indeed sell all bear ETFs into today's topping action, not only because of the risk of playing chicken with the ETF tops, but also because this is happening in a cash IRA account with a three-day settlement period, so I want some cash ready when buying opportunities develop, and any bear market rally that develops is likely to be short. One might think that $SPX has too much resistance to rally thru the 5- & 20dMAs and the pink downtrend from 745ish back to 900ish, but a month ago saw a similar move from 845ish to 1007. This will be easier to see on the charts when I get them on the blog. I absolutely agree with you that the bottom won't be in this year. We have very pleasant company in this opinion in the person of Meredith Whitney. The pink and white downtrends now looks like the operative pennant definitions, only they are becoming more like channels, with the Expanding Triangle broken downside along with the support for all pennants. I updated the $SPX chart accordingly, and will post it, along with a long-term weekly chart.

I did indeed sell all bear ETFs into today’s topping action, not only because of the risk of playing chicken with the ETF tops, but also because this is happening in a cash IRA account with a three-day settlement period, so I want some cash ready when buying opportunities develop, and any bear market rally that develops is likely to be short. One might think that $SPX has too much resistance to rally thru the 5- & 20dMAs and the pink downtrend from 745ish back to 900ish, but a month ago saw a similar move from 845ish to 1007. This will be easier to see on the charts when I get them on the blog.

I absolutely agree with you that the bottom won’t be in this year. We have very pleasant company in this opinion in the person of Meredith Whitney.

]]> By: Schweizer135 http://www.focalequity.com/2008/11/19/700s-or-worse-and-soon/comment-page-1/#comment-12563 Schweizer135 Thu, 20 Nov 2008 12:34:04 +0000 http://www.stocktock.com/?p=9525#comment-12563 Oscar thinks 723 is the magic number: http://social.stocktock.com/video/video/show?id=2348194%3AVideo%3A6095 Oscar thinks 723 is the magic number:
http://social.stocktock.com/video/video/show?id=2348194%3AVideo%3A6095

]]> By: Schweizer135 http://www.focalequity.com/2008/11/19/700s-or-worse-and-soon/comment-page-1/#comment-12557 Schweizer135 Thu, 20 Nov 2008 10:40:40 +0000 http://www.stocktock.com/?p=9525#comment-12557 Another SPX view: http://social.stocktock.com/profiles/blogs/ta-signs-on-the-spx Another SPX view:
http://social.stocktock.com/profiles/blogs/ta-signs-on-the-spx

]]> By: MT http://www.focalequity.com/2008/11/19/700s-or-worse-and-soon/comment-page-1/#comment-12545 MT Thu, 20 Nov 2008 05:20:09 +0000 http://www.stocktock.com/?p=9525#comment-12545 Bear markets have sudden and violent swings... 900 right now is an 11% upside from the close. 770 is 3.7% from the close. You can figure out the percentages. There is more risk here being short and playing for those last few percentage points, in my mind, than being long. While you may be right that there is more near-term downside, do you think we are going to put in THE bottom this year? I don't. Bear markets have sudden and violent swings…

900 right now is an 11% upside from the close. 770 is 3.7% from the close. You can figure out the percentages. There is more risk here being short and playing for those last few percentage points, in my mind, than being long.

While you may be right that there is more near-term downside, do you think we are going to put in THE bottom this year? I don’t.

]]> By: Richard http://www.focalequity.com/2008/11/19/700s-or-worse-and-soon/comment-page-1/#comment-12538 Richard Thu, 20 Nov 2008 04:00:51 +0000 http://www.stocktock.com/?p=9525#comment-12538 clearly and sadly we are heading into a global depression. every company will be vunerable to bankruptcy as this plays out to 2010. god help us all. if only i bet my house on the downside instead of fearing this crazy idea of a rally. today i covered my short at 839 only to have to get back in at 824... and a light position at that. this is the scariest time and most anxious time of my life. wish that better days were ahead for us but the writing is on the wall and with this ... all stocks will fall. clearly and sadly we are heading into a global depression. every company will be vunerable to bankruptcy as this plays out to 2010. god help us all. if only i bet my house on the downside instead of fearing this crazy idea of a rally. today i covered my short at 839 only to have to get back in at 824… and a light position at that. this is the scariest time and most anxious time of my life. wish that better days were ahead for us but the writing is on the wall and with this … all stocks will fall.

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