Here is the Swing cycles (my interpretation):
Monday, November 14, 2011
11-15-2011 outlook
Today was down as expected, but the potential large move did not happen (wasn't convinced it would). Tomorrow gives us one more chance at a substantial down move as all the cycles except the 22TD cycle continue down. Not promising a large move down, just saying there is potential for that.
Here is the Swing cycles (my interpretation):
GL traders, do your own analysis
Here is the Swing cycles (my interpretation):
Subscribe to:
Post Comments (Atom)
European GDP, US retail numbers, and PPI before the bell..........many retail traders are bullish and we havent had 2 consecutive red days in quite awhile...sounds like a perfect setup for down big. gl and thx you all your effort with this blog and cycle charts.
ReplyDeleteNo report from Keystone this am yet.
ReplyDeletePhil Davis was bearish yesterday and so far bearish this am.
One note from Phil's post yesterday may be of interest to readers. Phil Davis has been a proponent of IBM, believing that it is one of those "must own" companies. Apparently, Warren Buffett revealed yesterday that he a completed a large position in IBM. Then Buffett said he is hoping that the share price of IBM will go DOWN. Now, that seems odd, why would he want it to go down? Phil is speculating that IBM might buy some of its stock back should the price drop. This would increase Buffett's ownership percentage within the company. Now, since Buffett likely has some insider knowledge about IBM, perhaps that scenario will happen. Thus, you may want to put IBM on your watch list. If the price does drop, you might consider a position. I have no position yet, but will watch it.
Expected at least a bit of a pullback. Watching to see how the 22TD cycle affects the market action - is it actually becoming dominant as I suggested over the weekend? Looks like it may be.
ReplyDelete