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IDS World Markets Thurs 9th October 08


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#421 MrHanky

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Posted 09 October 2008 - 03:50 PM

:ph34r:

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:lol:

Nothing


#422 Phil Late Show

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Posted 09 October 2008 - 03:51 PM

Perfect bear flag from 3:30 yesterday completed at 910 on SPX

#423 Lemur

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Posted 09 October 2008 - 03:51 PM

And onward.

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Gold wants those resistance lines. Only a matter of time before it goes through.

New highs in euro and GBP.

#424 hokahay

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Posted 09 October 2008 - 03:52 PM

Well, the good news is that the "is it or isn't it a bear market" because of a half percent on either side of 20% thing Crapvision did that annoyed Doc doesn't seem to be a problem anymore.
:lol: :lol:

#425 Trader Joe

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Posted 09 October 2008 - 03:53 PM




#426 Phil Late Show

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Posted 09 October 2008 - 03:53 PM

SOX hasn't given up the low yet :blink:

#427 MrHanky

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Posted 09 October 2008 - 03:55 PM

Here they come

Nothing


#428 Trader Joe

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Posted 09 October 2008 - 03:55 PM

The bond market had started predicting GM's demise many months ago.

#429 DrStool

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Posted 09 October 2008 - 03:55 PM

From last night's Wall Street Examiner Professional Edition- http://wallstreetexaminer.com

You know things are bad when a 189 point down day in the Dow feels like an up day. The market
continues to face wave after wave of forced liquidation and deleveraging. Tomorrow is the day when
the shorts could really hit the fan. Short sellers will again be allowed to attack financials. The question
is whether they will pile on, leading to an all out collapse. Then following on that, might a reversal day
be in store for Friday or Monday? That would square with the time count on the 13 week cycle, which
suggests that a cycle low should come by Monday on that cycle. On the other hand, counts indicate ..

Cycle based stock
screen data was mostly
stronger, with 6 of the 9
measures strengthening
modestly, one
unchanged, and two
weaker. Considering
that the numbers are
constrained to the
absolute levels which
they cannot exceed, it’s
not surprising that they
didn’t weaken from
yesterday’s record
levels. They remain extremely weak; with all 3 cycle status indications still well past the 90% sell side
level that signals maximum downside momentum. Normally such readings can lead the intermediate
price low by weeks. Tuesday was the first day all three cycles reached that level of extension. At this
point, I don’t think that the uptick in the numbers is significant. 

The net aggregate differential between buy and sell indications (chart below) rose from 
-2316, which was a new low in this decline and the lowest reading in the 38 month history of the
indicator, to -2158, the second worst reading ever. Yesterday, it reached the lower channel line of a
downtrend that began a year ago, and it hasn’t moved much off that line. (Text in this font is repeated
from past issues.) Reaching an extreme on this indicator is normally not coincident with an intermediate
price low. It may be a short term price low, but the final low is normally coincident with a subsequent higher
low in the indicator. That’s a process that may unfold over weeks or even several months, during which time
the market would trend lower.  ...


The cumulative line indicator (light green line) has made another new low for the 3+ year history of
the indicator. It is now approaching a trendline connecting lows in this indicator that were either
concurrent with or preceded a significant market low by several weeks. At this rate, it will only take
about 2 more days to reach the trendline. That should mark the beginning of a bottoming process. 


Third Rail– The market has now sliced through the last possible support trendline on this chart. If
they begin to separate from this line on the downside then there’s no longer a way to project support
by this method.

...

The 4 and 6-7 week cycles are in down phases due to last anywhere from 5 to 20 trading sessions,
depending on which cycle is dominant. At this rate that would be an unmitigated disaster of biblical
proportions. Even bears can only pray that the 13 week cycle intervenes and turns up, as short term
centered moving average projections are now pointing toward a low of 880 on the 6-7 week cycle.  ...

A 13 week cycle low is probable at any time through Monday 10/13, but the last days of a cycle are
usually the weakest. The indicators are still on the sell side, so there’s still that risk of severe weakness
continuing or even worsening over the next few days. Most of the indicators for this cycle are within a
day or so of reaching the levels reached at their 2002 lows. However, the indicator lows were reached
in July. The market rallied but retested the lows in October, and then again in March of 2003. This is
fairly typical of major bottoms. There’s no need to catch the first bottom. Let the market prove itself.
There’s always a pullback. ...


The market has established a new sharply declining 18 month cycle wave channel projection. This
channel will remain in force until the upper projection is decisively broken. The bottom of the channel
is now around 950, and the top is around 1100. A break of the lower channel line with an increase in
velocity would signal an acceleration of the crash. On the other hand, a break that holds near the line
and begins to recover late in the day should signal an intermediate bottom.  ...

On the equal vertical width channel chart below, the SPX has now reached the last defensible “lines in
the sand,” below which there may be no tomorrow. Long term channel lines in the 980-990 area
represent the last major support by this method. 1025 now looks like potential resistance. There should
be support around 910, where an old trendline from the 2004 trading range extends. 
...

The Qs are in a headlong collapse after having taken out the bottom of the projected
18 month cycle channel. They are threatening to break a new more sharply descending projection. If
they break it, the crash will probably accelerate.


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#430 Trader Joe

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Posted 09 October 2008 - 03:57 PM

Mickey's giving it his all....




#431 howard in nyc

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Posted 09 October 2008 - 03:57 PM

closing above the lows. that's good, right? :(
"He who sells what isn't his'n,
Must buy it back or go to pris'n."

#432 Trader Joe

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Posted 09 October 2008 - 03:59 PM

can they get it green in 2 minutes?

#433 Private Skidmark

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Posted 09 October 2008 - 03:59 PM

closing above the lows.  that's good, right? :(

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It is good. :ph34r:

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#434 T_Slim

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Posted 09 October 2008 - 04:00 PM

covered just in time. negative divergence on the 4 hour charts started it all for me on ym. price action still rules.

#435 chiefywiefy

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Posted 09 October 2008 - 04:01 PM

closing above the lows.  that's good, right? :(

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Which year are you referring to? :lol:





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