From Tze:
Video (Part 1): Prechter On Market Rally
(Note: This interview was originally recorded on September 20, 2010)
In the video below, Robert Prechter talks to Yahoo! Finance Tech Ticker host Aaron Task and Henry Blodget about extreme readings in various indicators that confirm his bear-market forecast.
Get Up to Speed on Robert Prechter’s Latest Perspective — Download this Special FREE Report Now.
WOO, whats your instinct on where AMAZON is heading, trading at year high, very high P/E. Would you short at these levels or what are charts saying?
amzn is beginning to look more like a short.
http://stockcharts.com/h-sc/ui?s=AMZN&p=D&yr=2&mn=5&dy=0&id=p96835350693&a=181646175
we’ve hit a top, and with the market also hitting some resistance, we may not get the market momentum needed to push things higher. If you do short, I would make sure to place tight stops above that upper line because a break above that would be very dangerous.
Better than expected news again watch market roar up today.
As I was recommending yesterday watch BP as it is on the move up. Once it broke that 40 resistence chances are good for this to trend up. JMHO
bought COS.UN.TO yesterday at 24.57
Max top for EUR/USD in this round I see 1.3716 (97) so if you plan to short @ these levels put yours SL 18 pips
breaking these levels next stop is 1.3741
now we know targets for $ what about SPY 115.89 with SL 116.10 breaking this level 117.86 is next stop
don’t forget we have POMO today
here is $ 01 05 15 min charts:
http://www.screencast.com/users/prozor7/folders/Default/media/212524d8-2fe6-4320-8582-873aec190cfe
BIDU up big,bigb.big pre market huge ,huge,huge, profits for unless your short with Sams SWBB
LOL at you all the way to the bank…keep printing me money Sam.
go Rimm go
Silly traders, Sam von Zee saw the change in direction and reversed all his stupid
trades (short gold, etc) in just the right time and made huge, massive profits as he
always does.
Big boys left him sticky. Guys in locker room threw water at him again.
AIG is going to rock!
Spoofee.com going ipo is on the news
All news is good today market will run another +200pts. The train to paradise is full ahead up up and away. Sit back, relax and enjoy the scenery. This mountain view is spectacular!
Dow 11k is just ahead 65 miles lol
Anyone else thing the gap on the SPY has been closed and down we go from here?
You are deluded and looking for something that don’t exist.
This is the buy the rumor segment of a rally based on Tea Baggers taking over the white house.
i think the way… is down way…. 115.65… is the top for now… i hope! it’s what i see…
Portugal is bad… is the next to go down…! big trouble is comming… for Europe.
Sold AGU.TO Nov puts for a profit. All cash now and just watching.
I thought this market was supposed to explode higher.
Traders need to get real and learn how this site is to be used.
When you see zee/sam and idan all playing from the short side and calling tops, bet the farm long.
Stick it to the wrong boys….
LOL
good profits in tza so far–train has made a stop, probably looking at major mountain in swiss alps.
Lots of investment advisory firms (including ours) are giddy, as we bill based on asset values at end of qtr. Starting tomorrow, we dont give a f where values go, but today is a big day for many firms.
Bad quarter numbers have lead to layoffs, etc, so it’s serious stuff.
I wonder if / when hedge funds will liquidate longs to pay investors cashing out. I suspect nobody wants to sell longs yet, market is so hot, but if they all need to raise money at one time, can cause a downward drift (I would thing).
Just something to think about. DS have been spot on, to infinity, and beyond.
Looks like the conductor(TV president) decided to pull over and check the vista and have some lunch. Complete reversal in progress don’t ya just love this volitility?
A POMO day ending in red? 3.5 hours left but it doesn’t feel like it’s coming back. Sold my shorts too early as I had to leave the office.
Not over until it’s over. Plenty of time to turn back around and go green.
But you don’t see this as a negative? Better than expected GDP numbers for US, markets started green and now well into the red.
If we have a red day tomorrow and we break 1122 that’s a confirmed reversal, but it hasn’t happened YET.
Well like you said untill the SPX goes back to the 1120 range then it is NOT a confirmed reversal. We have been stuck in the range of 1130 to now 1157. It head faked up to 1157 just to fall back. I believe it needs to clearly break the 1160 first and then it will fall down hard past the 1120 range. We all know it is an oversold market that will correct. GDP numbers were not all that great. To be great they need to be in the 2.0-2.5 range and that won’t happen till probably next year. Just be patient if you are hoping for green it will come back by EOD unless some horendous even occurs. Personally if it stays red I am making money. My BP runs up either way.
Thanks bud, I’m all cash now after I sold my AGU puts this morning. The market is making a come back now so I think I’ll be sitting in cash for now.
Good spot to be in so you can make a play when a clear direction is made. The way I am reading it at the moment is we are now getting back to the flat area and the financials are green. It won’t take much to pop the market back green expecially if the financials gain more strength. Oil is pushing back to the 80′s level and making some people a bit nervous.
I believe gold has topped in the short term.
I’m betting it’s POMO to the rescue this PM, and possibly tomorrow. Per Daneric, all we need is any high over 1150 on the SPX, with a target of 1158, in order for his current count to be valid. I also personally feel that the market action over the past few weeks, is deliberate attempt to mask the distribution phase on many stocks. When this finally falls, it’s going to be a hard fall!
I believe today was the first of 3 pomo days that will be within a few days of each other.
http://www.newyorkfed.org/newsevents/news/markets/2009/an090812.html
Actually when you think of it the best news today is the AIG deal. Who in thier wildest dreams ever thought they would get that paid off? Once they get away from the government as the major holder & sell some foreign companies that stock has a great chance or better chance of going back up to the 50-60 range within the next year.
Plus it pays back the tax payers and they make a profit. Will end up being a lucrative deal for the government.
trend line north of here hasn’t been touched. it’s begging to be touched…
HS in FSLR, got it down to 142.5
No one in the world can ever ever forecast better than me. I told you about shorting BIDU and FSLR and ISRG.. I told you specific time, I told you specific price, and I told you specific everything. And I told you these entire in advance. WOW
Just look the interesting part of my huge powerful forecast. Today the overall market rallied huge huge this morning, but guess what. What happened to my short? My shorts all dropped huge while market was up huge. What do you guys think about this except my power? WOW
No one can ever ever do these. Never ever
Another interesting part of my trade was that I shorted the strongest stock in the world and I shorted that while market was going to explode higher, but what happened to my short, they just dropped huge and I booked huge huge huge profit
Although I said I was going to hold my short for a swing trade but I just closed all my short except GLD and booked huge profit on FSLR and BIDU. Looking to reload short after a fake rally.
Look at my long On RIMM. WOW. People was questing me about my long. LOOK
That is why I always say stick with big boys
Take care
SWBB
i didn’t know 1% avg drop on 3 positions is considered a HUGE drop.
but if it’s a 100k position it’s 1k profit. if it’s 10k position it’s 100 profit. i would take either. money is money. good luck.
you have made some good calls–just hope you are not watching porn while you trade.
Oh, he’s playin with you, big time (IMHO)
Your 11% off your BIDU target,your call was 12% stay away
Yes Sam, you definitely said Bidu was headed to 92.
Sam,
Why don’t you consider not talking down to people? Perhaps then some of the hostility against you would dissapear.
I’ve taken a lot of psychology and sociiology ourses (hobby) and if your boasts are not internet bullshit they are some sort of mental defect. Personally, I beleive it’s a call for attention.
Your calls may or may not be spot on, it’s impossible to tell as you will rarely if ever post an enter or exit point, you just brag.
I bet even woo and idan (who are absolutely much better traders than you) have lost money on at least one trade. You have never made one bad trade according to your posts.
My trading may very well suck lately, but I do have respect for the others in this community.
Something for you to think about. What comes around, goes around. And in case you dont see it, when you boast how you are the best trader – nobody can touch your skills, you are indirectly saying to everyone here Im better than you. As there is absolutely no reason to even state that, you are either 1) full of shit 2) a baby screaming for attention 3) a person with some sort of personality disorder 4) part or all of the above.
I recommend you try to follow the examples of woo, etc, modest. Sure, we all love banking coin and even bragging about good trades. It the other comments of your’s which seem to irritate some people.
Sorry all, couldnt resist, he just rubs me the wrong way.
Amen
+1
“Bob-tax-CPA” if you are involved in the study of mental illness, perhaps you and fellow enthusiasts
would be interested in attending sam von zee’s seminars at Concordia? He is taking reservations
for in class conferences in which he teaches his inter personal skills and signs first run copies of his
“How to Win Friends and influence people”.
i work at a hedge fund leave me the fuck outta this prince.
Hey Sam I will throw you a bone..
Sept 30 2010 .Baidu.com, Inc. (ADR) (NASDAQ:BIDU) – Here’s a name that’s been off the radar for a while, though it’s a bit surprising considering that BIDU shares pretty much made a beeline from $10.00 to $90 since early 2009. Volume’s been getting weaker over the last leg higher though …. the first red flag. The second red flag – and the reason we’re viewing this bullishness in a bearish light – is the big jump Baidu.com shares made over the last two weeks. It was already strained, but this bounce is just completely unsupported and again smells of amateurism (the beginning of the end).
I strongly recommend buying SCO right now around 13.30.
Thnx… Nice to see you around.
good call–have done same. will continue to add if oil remains above $80.
Good call Morris, I’ll try and see if I can get in early tomorrow.
BTW, I took a nice 25% bath on TZA – I was too stubbern to stop out, but finally sold at 2k loss earlier this week. Still holding VXX – also underwater by a decent amount. Thankfully positions were small. Thinking about adding more VXX but sitting on hands at the moment.
Woo, maybe not your kind of stock, but any thoughts on NEP? Another trader was suggesting a look at SPWRA. Similar to first solar, but just never broke out as strong. he suggested watching, as it may be due to really move. This NEP seems to be a beast though. I was thinking of taking a realatively small position and hope it flies.
i’ll take a look at it in the afternoon and try and let you know if there’s anything interesting going on.
if you have a chance, no biggie either way, thanks either way.
http://stockcharts.com/h-sc/ui?s=NEP&p=D&yr=3&mn=6&dy=0&id=p57563837968&a=209837239
NEP is in between the 38-61% long term retrace. This is always a bit of a gross area to trade because of the overall indecision of the stock. Chinese stocks have generally been doing really well though. I think that if we break the day’s highs ($6.15), you could see another bit of a rise towards the 200ma. It’s hard to say exactly what will happen after the break though because there isn’t enough movement north of here to grasp strong resistances above where we currently are. If you do take a long position on a break, I would raise stops to profit immediately, and see how you much you can ride it up.
SPWRA is like looking at SRS….almost flat lining but with a descending trend. in between the 50ma and 200ma, which are nearly converging. MACD is useless. Chart wise, you won’t get much information on this, but if you or your friend knows something that others don’t, then that’s a different story. It’s a bit overbought, I personally don’t trade stocks like this.
TNA and TZA both slightly red. SPY ~ zero
Woo – one request from me too – your thoughts on EMC
1150 is a big area. if we fail again i see a short term drop soon.
looking around for a good spy put to buy.
Got a job at a hedge fund..
Any ES traders here, give me a shout to articunolover313@hotmail.com and I will give you my real e-mail address so we can talk on MSN during the trading day about the markets..