Qid, Dxd

[TheChartGuru]

Should bounce from their lows after Oracle's AH price drop and the market turning down again. They are both trading above the Hourly MA(50). The 2 ETF's should easily gain 15-20% short term without having to short sell.
QID closed at $48.62, DXD closed at $55.65

The Guru has spoken

[john_for_u80]

Should bounce from their lows after Oracle's AH price drop and the market turning down again. They are both trading above the Hourly MA(50). The 2 ETF's should easily gain 15-20% short term without having to short sell.
QID closed at $48.62, DXD closed at $55.65

The Guru has spoken

Hey Guru what do you think of SKF?

thanks!

[TheChartGuru]

Hey Guru what do you think of SKF?

thanks!

Yes! SKF looks really good. I have it on my watchlist but I'm fully vested and don't have enough money to buy any signifacant amount of shares at $110/share.

http://tinyurl.com/3yt45l

The Guru has spoken

[aiki14]

Frank, I hate being on the opposite side of trades with you, but I just don't see it. I like the fact that the S&P held 1340 again even in the face of some pretty negative numbers this morning.
I know from your posts where you think the market is going, but I am wondering how you read the recent testing of the jan lows. Also I see a double top at DJIA 12700 or so that would be likely resistance that I see being tested before a real downturn (which I don't see happening but for the sake of argument bring up).
One of the reasons I stay well hedged is so I can continue to wish you good fortune without taking it too much on the chin myself. :wink:

[Gzapper]

i say we flash a mind or 8 pies to the zoo lids which overcome a spending morsal of power within a whiting strip. uncle barry can flies kites while we frolick towards the kitchen and make chimmichangas for a new era of giraffe smell :santaclaus:

[MrSer]

I like these posts. What do you think about citigroup guru?

[nickel_buck_fifty]

I thought yesterday looked real weak and today about an hour to an hour and half before the close they tried a little rally but it did not hold.

I will try to attach a chart.

2934

I have a position in QID.

nickel

[Gzapper]

first out always licks the one behind from a corner

[Thierry Martin]

first out always licks the one behind from a corner

:dito:

[Hondaboy]

I thought yesterday looked real weak and today about an hour to an hour and half before the close they tried a little rally but it did not hold.

I will try to attach a chart.

2934

I have a position in QID.

nickel

So many wavey lines:frown:

[John Law]

15-20% is asking a lot, but I do think the market is heading down for a few days. I got mostly out on Tuesday in anticipation of a nice drop. I think the fact that the market held up so well today against bad news is actually a good reason why it will be down tomorrow.

[Supreona]

i say we flash a mind or 8 pies to the zoo lids which overcome a spending morsal of power within a whiting strip. uncle barry can flies kites while we frolick towards the kitchen and make chimmichangas for a new era of giraffe smell :santaclaus:

wtf :?

[Gzapper]

On 3 Occassions Its Hish Hash To Scratch Your Inner Thighs For 7 Minutes Then Smell Your Fingers For 19 Minutes Before Dipping Mashed Potatoes In A Low Glide Pertusion :?

[ChartShark]

The QID has resistance to break through at 48.72 before it runs. If it can break through, my target would be 50.40 or so, with awareness of the resistance in the 49.60 range and the psyche level at 50.

DXD has been bounced against resitance in the 55.65 area a couple of times. If it can break through this level, I'd expect it to run at least until it fills the gap created over the weekend (from 20Mar to 24Mar), which was also a price involved in a previous gap (2/28 to 2/29).

With so much authority involved in these resitance levels on both stocks I wouldn't expect either to break through them in the immediate future.

As far the the DJIA is concerned; if it can hold the 12400 level, then it has created a bullish oscilator divergence (That term makes no sense - I am just making things up now) that should at least carry it on to the double top that Aiki mentioned in the 12700 level. I suppose we will all see how it reacts to these levels (12400 and 12700). If it can break through 12700, we could see a turn in the market as a whole. If it bounces off of 12700, we might be stuck in consolidation for another couple of months, if not the rest of the year and beyond. Personally I prefer the former (circa May 06 - Aug 06) than the latter (circa Mar 04 - Nov 05) for no particular reason other than my undying optimism.

I am not sure what your time-frame for "short term" is, but I don't really see the room for a 15-20% move in either direction for either of these ETF's in any time-frame that I would consider short-term.

Considering that your expertise seems to be way beyond mine though, I look forward to being proven wrong.

[John Law]

When people figure out that today's housing report was actually bad news (despite the misleading headline) I think we are going to see some red index numbers. Thanks for the tip, Frank. Think I might check out QID in the morning, seems like a good bet for a quick buck.

[TheChartGuru]

Frank, I hate being on the opposite side of trades with you, but I just don't see it. I like the fact that the S&P held 1340 again even in the face of some pretty negative numbers this morning.
I know from your posts where you think the market is going, but I am wondering how you read the recent testing of the jan lows. Also I see a double top at DJIA 12700 or so that would be likely resistance that I see being tested before a real downturn (which I don't see happening but for the sake of argument bring up).
One of the reasons I stay well hedged is so I can continue to wish you good fortune without taking it too much on the chin myself. :wink:

Economy Sputters With 0.6 Percent Growth- AP

Need I say more?
Aiki, I'm just not convinced that all the bad news is out. Consumer confidence is down. The real estate market is aweful and so are the financials. Oil is over $105 a barrel. Why should the market move up? It is trading below the MA200 and it got overbought a couple of days ago. I prefer to go long stocks above the MA(200) and short those below the MA(200). The market is trending down with prices bouncing between the lower and upper bollinger bands which makes for great volatility, which is great for trading!

So far this morning QID, DXD and SKF are up nicely :)

[TheChartGuru]

Frank, I hate being on the opposite side of trades with you, but I just don't see it. I like the fact that the S&P held 1340 again even in the face of some pretty negative numbers this morning.
I know from your posts where you think the market is going, but I am wondering how you read the recent testing of the jan lows. Also I see a double top at DJIA 12700 or so that would be likely resistance that I see being tested before a real downturn (which I don't see happening but for the sake of argument bring up).
One of the reasons I stay well hedged is so I can continue to wish you good fortune without taking it too much on the chin myself. :wink:


Also, I don't like that the S&P has made 7 tops since October 11th, each one lower then the previous. Classic downtrend. S&P must hold above the weekly MA(200) at 1,300. Currently, 1,333.60

[john_for_u80]

Also, I don't like that the S&P has made 7 tops since October 11th, each one lower then the previous. Classic downtrend. S&P must hold above the weekly MA(200) at 1,300. Currently, 1,333.60

I guess next stop for S&P is 1225 seeing the weekly chart if it continues lower.

[TheChartGuru]

I guess next stop for S&P is 1225 seeing the weekly chart if it continues lower.


I'm still firm with the S&P going down to around 1150-1200 and the DOW to around 10,800

The Guru has spoken

[netwrangler]

Tough to choose between the opinions of Aiki14 and TheChartGuru.

On a fundy basis, I have to go with TCG. I don't think all the bad news is out.
We will test the February lows once again before July.

That said, near term trades can go in either direction, and I'm sure Aiki will take advantage of that.
The great part about being an OTF trader is the ability to make money no matter which way the market goes.
Of course, that assumes you actually do know which way it goes.
Timing is everything.

For my part, I'm back into covered calls on large caps.
The elevated VIX makes selling calls a profitable undertaking.
And there are some opportunity for puts when playing the swing trade.