Thursday, October 16, 2014

Got C?

Stackin' C




15 comments:

Phat Repat said...

Thanks for the info; and yes, plenty of C. ;-)

And, for the early numbers...

Buy above 1889.20 Stop 1866.78 with a T1 1933.18

Sell below 1858.25 Stop 1880.63

Christian Gustafson said...

We made it back up to wave iv of 3 on the /ES and SPX. I wonder what happens next?

You like that box of "Count Chocula" on my kitchen table? Jesus.

Go ahead, you marry a girl from Idaho, see what happens. I dare you.

T.Berry said...

expecting new ath's soon. still see no reason to sell. please with buys early in week. stay put till 2400 next year

Phat Repat said...

I usually avoid bag and box 'foods' but, if I'm gonna splurge, it's gonna be on Reese's cereal. ;-)

T.Berry, how do you arrive at 2400?

I play the ups and downs and can't complain so far. To each their own.

Bicycle said...

Dust yourself off you vitamin eating hippies, and look at this megaphone!

Christian Gustafson said...

Yeah, you see it, Bicycle.

A wild spike like that would validate Bryan's historical model for tops.

We've now also got a potential IHS on the board with that neckline at 1898 and a target of 1976.

Bryan Franco said...

Would love it.

Christian Gustafson said...

You realize that a blowoff move like that (into FOMC?) would be a terrifying thing, right?

A short-squeeze would break out above 1900 SPX that would pull everyone and everything with it, pure mechanism, a coiled spring. Even market "bulls" would be scared.

The crash that would come off the top, once the actual FOMC release is out, how do we determine the target? The lower megaphone edge?

KOV said...

wow, good info on C

Christian Gustafson said...

The anecdote about a doctor eating an Amanita phalloides (!!) as the intro to his lecture on C, is stunning and incredible if true.

That's 6,000 doses of C on my kitchen table, mostly 1G adult pills, but also 500mg chewables for the kiddies.

Bicycle said...

The target on the megaphone should be roughly Dow 14500, right? All the way down from Dow 17400-500. It doesn't even have to be triggered by FOMC--Putin could simply remind the world that he's there and cut the gas and oil to the Europe for the winter.

Bicycle said...

Let's not forget, however, that Dow 14500 puts us within spitting distance of a backtest of the 2007 highs.... there should be strong resistance there given how badly the bulls have been asking for that back test so they can fly off to hyperinflationland...

T.Berry said...

nice finish to crazy week. snp only down about 18. bulls showed their power. expecting continuation next week. feel good about putting remainder of cash to work when blood was flying earlier in week

Bicycle said...

"bull power" should not be misinterpreted from "something large blew up and is unwinding and we don't know about it yet". That's where we are... especially off the crazy move in crude.

Phat Repat said...

Buy didn't officially trigger though I did nibble a bit on the long side. I might pay a price for that.

The numbers for Monday are as follows:

Buy above 1894.79 with Stop 1872.33 and T1 1933.18

Sell below 1863.77 with Stop 1886.20, targets remain muddy.

One thing certain, resolution is coming, and right soon... ;-)