I'm seeing some things (from a different perspective) in the pit and on the charts for a turn nearby as well, add it all up and its a hellofa argument.
1. Gross overvaluations of stocks such as OPEN, NFLX, CMG, and PCLN; see http://seekingalpha.com/article/251724-which-way-wednesday-under-the-big-top .
"We are paying $22Bn and 48 times earnings for a company that does not have a sock puppet, but does have Captain Kirk, whose acting ability has, on occasion, been compared to that of a sock (Priceline.com (PCLN)). What does Priceline do that is so unique that they deserve a p/e ratio 150% higher than Apple (AAPL), who earns in a week three times more than PCLN does in a year? Why they have online travel reservations. Isn’t that BRILLIANT? I mean, who else could possibly do that?"
2. T theory; see http://ttheory.typepad.com/.a/6a00d83455c65c69e20148c85bb515970c-pi .
3. 2 x 666 = 1333.
4. TL from the rising wedge since Aug 2010; see http://3.bp.blogspot.com/-LZknd9yqXwI/TVWIP4r3TPI/AAAAAAAAB2w/7yEkPmX2BVA/s1600/110211-I+SPX+Daily+Rising+Wedge.png .
DOW...........
ReplyDeleteGann time factor in the window now and Bradley astro model is the 17th..........Good trading!
I'm seeing some things (from a different perspective) in the pit and on the charts for a turn nearby as well, add it all up and its a hellofa argument.
ReplyDeleteMy last 3 post are relative.
http://tmacktrading.blogspot.com
i see 4 reasons for a possible reaction in SPX
ReplyDelete1. Gross overvaluations of stocks such as OPEN, NFLX, CMG, and PCLN; see http://seekingalpha.com/article/251724-which-way-wednesday-under-the-big-top .
"We are paying $22Bn and 48 times earnings for a company that does not have a sock puppet, but does have Captain Kirk, whose acting ability has, on occasion, been compared to that of a sock (Priceline.com (PCLN)). What does Priceline do that is so unique that they deserve a p/e ratio 150% higher than Apple (AAPL), who earns in a week three times more than PCLN does in a year? Why they have online travel reservations. Isn’t that BRILLIANT? I mean, who else could possibly do that?"
2. T theory; see http://ttheory.typepad.com/.a/6a00d83455c65c69e20148c85bb515970c-pi .
3. 2 x 666 = 1333.
4. TL from the rising wedge since Aug 2010; see http://3.bp.blogspot.com/-LZknd9yqXwI/TVWIP4r3TPI/AAAAAAAAB2w/7yEkPmX2BVA/s1600/110211-I+SPX+Daily+Rising+Wedge.png .
Good comments, all.
ReplyDeleteTim
Interesting about the Goldman selling. Thanks.
ES H1...................
ReplyDeleteWatching 1333 to 1341.5 in the ES for the failkure and reversal..........Good trading!
Any failure of 1333 is very important to lean on in the ES H1 .............buying SDS now and shorting the ES!
ReplyDeleteParker,
ReplyDeleteBased on your MFI, are you expecting a pullback withing a day or two...or at the end of next week on the S&P.
Seems some are calling for a top today or tomorrow, and others late next week. Although quite a few are calling for a low on Feb. 28.
What do you see in your timing studies. Thanks
Hi Fred
ReplyDeleteMy interpretation is the top could come today or tomorrow, or we could start a topping pattern that drags into next week.
As Terry mentioned, it stems from the decision of where to start the Money Flow T: mid-November or late November.