[scottwww]

I was told that this type of formation is called a saucer. I see 3 1/2 of them in this picture. Am I right?

Would you say six weeks to come down the other side?

rebeltraders

[solefald]

hey, what's up scott? haven't seen you for a minute...

that chart... must be obama's fault...

[blue-coupe]

As tempting as it is, I never trust technical analysis.

[Blake]

Originally Posted by solefald

that chart... must be obama's fault...

that's what i heard

[cougfan335]

Looks like more of the downward spiral to me. Did a quick check and sounds pretty solid. Might be a great bargain hunter buy. I am not analyzing the stmts of anything but if their air bubbles do their scrubbing effectively sounds like a great roll of the dice. I'm not sure how well analytics are workign these days with most market moves being based entirely on that days news. To sum up -=profit taking +=bargain hunting (save you a little time watching CNBC).

[scottwww]

Originally Posted by solefald

hey, what's up scott? haven't seen you for a minute...

that chart... must be obama's fault...

It's a lot of people's fault. I couldn't lay the blame on one person. But I am just trading from home these days. No other day job. It's working out pretty well so far.

I am short the S&P 500 with SDS right now. I'll go long with SSO when the timing seems right.

And you?

[scottwww]

Originally Posted by cougfan335

Looks like more of the downward spiral to me. Did a quick check and sounds pretty solid. Might be a great bargain hunter buy. I am not analyzing the stmts of anything but if their air bubbles do their scrubbing effectively sounds like a great roll of the dice. I'm not sure how well analytics are workign these days with most market moves being based entirely on that days news. To sum up -=profit taking +=bargain hunting (save you a little time watching CNBC).

Looks kinda like Mt. Rushmore to me. But look at bubble forming on the right up to today. Looks like it busts soon. But there are other ways to see it.

[JoosyJoos]

Technical analysis is pretty pointless if you believe in the efficient market hypothesis at all. I can't help you with it since I don't believe technical analysis is good for anything. Nice to see someone bringing up some finance topics though lol.

[Heinzftw]

GDP is on it's way down? haha funny chart

[scottwww]

Please comment about this chart comparison. I have superimposed one chart onto another to make it easier to copare them. I am not a technical analyst or I might not be asking for an interpretation.

I know what I think it means is that what is to come in the one could very likely be similar to what already happened in the other (not shown on this chart).

[scottwww]

One more chart for the S&P 500 action as of today's close. This is a weekly chart.

[scottwww]

http://

[scottwww]

Anyone in for the new government sponsored 101K? It replaces your existing 201K which replaced your 401K last year.

[scottwww]

link

Insiders Selling Like Crazy

Joe Weisenthal|Apr. 25, 2009, 8:07 AM|12

Tags: Investing,
Stock Market

We're not convinced that insiders are really the smart money everyone assumes them to be. But either way, they're sending one message: head for the door! Rather than take advantage of stock prices that are still at historically low valuations, insiders are taking advantage of the aggressive run up in stocks and cashing out.

Bloomberg: Insiders from New York Stock Exchange-listed companies sold $8.32 worth of stock for every dollar bought in the first three weeks of April, according to Washington Service, which analyzes stock transactions of corporate insiders for more than 500 institutional clients.

That’s the fastest rate of selling since October 2007, when U.S. stocks peaked and the 17-month bear market that wiped out more than half the market value of U.S. companies began. The $42.5 million in insider purchases through April 20 would represent the smallest amount for a full month since July 1992, data going back more than 20 years show. That drop preceded a 2.4 percent slide in the S&P 500 in August 1992.

[scottwww]

[ideliver]

yeah this ones worse...and getting worser (or so says my 5 year old)

[scottwww]

I think we may be seeing a repeating pattern that could give an indicator of where the next few days may go in the market.

[scottwww]

I did a little looking at S&P 500 historical data. It looks like of the 29 days since July 2006 that there was a gain of at least 3%, the next day was a losing day 19 times.

The ten dates that had another gain following the day of a 3% gain on the S&P 500 were 9/18/08, 11/21/08, 11/24/08, 11/26/08, 12/2/08, 12/5/08, 3/10/09, 3/12/09, 3/17/09 and 4/9/09.

It looks like of the 29 days that had at least a 3% increase in S&P 500 index since July 2006, only 5 of those gains were stilll intact one week later. The other 24 were lower than the close of the day that saw at least the 3% gain. All five of those were just a little more.

The dates that had at least 3% gain and were actually higher than the close one week later were 12/2/08, 12/3/08, 3/10/09, 3/12/09, and 3/17/09. I think the market is not quite so oversold as it was those dates.

Isn't it fair to say that all those dates were at a time when we were following a sharp down move? Like it was on the bounce?

And 17 of the 29 times, just one week later the S&P 500 index actually closed lower than the close on the day of the 3% gain.

[scottwww]

Does anybody think the stock market isn't going to take a leg down?