“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Monday 22 April 2013

22 Apr 2013

Market rallied today even with CAT reporting a bad outlook.  So this is a good example that Fundamentals doesn't work and if they do its just a coincidence.  News travels and by the time it gets to you its too late.  In fact its too late when the first guy shouts it out to the whole world.  But if your a fundamentalist don't mind this blog. 

Todays results:

Mid-Term: Down
Short-Term Up

Our 60min chart was in overbought on Fridays close Apr. 19.  This oversold continued today pushing us above he 200ma on the 60min chart. It was not even a significant resistance.   We are flirting wit a 38-50% Fib. resistance.  I would allow for it to hit 1566 to 1575 SPX, but todays high at 1565.55 is quite close to the minimum range.  A move down on the 60min Stoch. would alter the Short-Term trend back to the downside

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3 comments:

  1. Unknown22 April 2013 at 16:16

    will sell my position tmr

    after market earnings will be ugly

    i expected the home number would be bad today, but knew this short term rally isnt over yet

    ReplyDelete
    Replies
    1. MP22 April 2013 at 16:54

      Good call. aapl earnings tomorrow might just be a reason to sell.. who knows. dont stand in front of a train if it starts to pick up momentum

      Delete
  2. Unknown22 April 2013 at 19:17

    im still tracking weekly chart on major index, ppo,macd,trix all turning, not good at all......


    job number will get worse for the coming thursday

    for fri GDP, i don't think it will be bright either



    tim cook is a fuck up to be the ceo of apple....stock price definitely reflected how much he is worth.....$350 soon

    ReplyDelete

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