04
Nov
An Exciting Week
Written by Anna   

Hi everyone

Well it's  finally here, the 2012 presidential election!! I for one, can't wait to see what the outcome will be. My gut tells me it will be Obama. I won't tell you my preference as I find this an intensely personal issue and I choose to keep that to myself. I will say that I do not trust any politicians and most that are high ranking are corrupt in one way or another and I think non of them has "our" best interests at heart. 

Now on to the markets, We got that wave up I was looking for I said 1425 to 1430 and then back down and it happened in one day and a half. Thursday they ran over the shorts with a short squeeze (shaking out weak bears) and Friday we had a mediocre rise up then down most of the rest of the day to have a nasty wave down.

So where now? I think we chop around for the next few days including tonight, Monday and Tuesday. All waiting for the election results. Now one of these candidates will not favor the stock market. Will it be Obama or Romney.  If Obama wins, we lose George Bush Tax cuts on capital gains. But remember then we keep Ben Bernanke the QE man of the decade. So will the markets will relieved that "easy money" will keep on coming, or Will Romney cause a sell off due to the "easy money" being cut off from the markets? Then again he will extend the "Bush Tax Cuts'. My gut tells me that if Romney wins (which my gut says no) we would actually have the sell off due to the end of "easy fed policy".

Along all this we are still in a larger Wave 3 that will take us back to at least the 1393 level for a retest, so hang on for more volatility and enjoy the show. We will know shortly who the new "Cheater in Chief" will be.  I do not take consolation in either one frankly.

love to all xoxo Anna 

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28
Oct
Should be a nice Wave up coming soon
Written by Anna   

HI everyone Read more...

I finally am doing a new post, having finally gotten some much needed rest. I am feeling pretty great. I know you guys have stuck with me while I go in and out of being healthy and I appreciate it from the bottom of my heart. Thank you!

Now on to the markets, the bears had one of the  best weeks this year last week. We got a lower high high was 1468, lower high was 1459, and we broke figure (1400) intraday, but  have yet to close under.

Counting the waves, it appears we have a wave up to come .I am looking @ 1425 to 1430 after this would be 1450, that again if caps there would make another lower high. I don't expect we have seen the lows yet, but we are due for some bullish activity. Remember next week is the end of the month, so normally there is fund managers under invested that will add to their books by end of the year.

Just glancing @ the daily charts, I see we are over sold territory in my book, and we are near or close to a nice rally.

Tomorrow the 31st is an important day to be open in the markets,  funds close they're books by the 31st.  Also the fact that the NYSE has been closed for 4 days is a bit of a stretch as the markets need to flow, buy sell, liquidity.

Here is the ES and the CL daily charts

Read more...
 

 

 

 

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