ThatStockGuy

A weekly chart clearly shows a downward trend that is just couldn’t get past. As of right now I feel if the DJI closes below 8355 it would be a clear break to downside i.e. the next leg down in this bear market. However we just don’t know what they will attempt to prop this market.

My gut is suggesting that we have ran out of gas. The last time I posted the bounce was off by a few days, and what a bounce that was!
A few more days like the past few and will see some downside. It was getting to the point where crap was floating to the top. One example that comes to mind, KERX from the lows of 9 cents to a high of 1.58 in 15 weeks. Anyone holding it hopefully took profits if they held it on the way down and back up from .50

On Monday when I saw the official close of the Dow I had to chuckle -187 (murder) because it looks like a cliff pattern.
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=6&dy=0&id=p05960451413

Keeping an eye on FAZ
http://stockcharts.com/h-sc/ui?s=faz&p=D&yr=0&mn=6&dy=0&id=p05960451413carrier to noise ratio
as the Dow appears to be rolling over FAZ seems to be ready for something. I’m not a fan of these financial instruments but it looks attractive.
These are some crazy times we are living.

I woke up this morning to find out that my domain name was to expire today. After giving it some thought, I decided to renew the domain even though I haven’t done jack in pretty much a year. I don’t expect much from these markets anytime soon. I will say and it will probably bite me pretty hard, we are due for a sharp rally upwards. It could come as soon as today. I’m not saying we have seen the lows, as I expect much more downside in the future. Things are just down right nasty out there and I don’t think we have seen any light at the end of the tunnel.

As for stock plays, there is just way too much risk for my liking. Maybe if we have a major sell off in the indices (straight down) I’ll roll up my sleeves. I just don’t ‘trust’ these markets, you never know what will be said during the day change the direction of the markets intraday. I think I have better odds at the casino :(

Man, I’ve never seen anything like this….. I just watched the debates, so depressing, is this really the best we could come up with?

As for the markets, I’m looking for support at 8600 on the DOW but I do have my doubts it will hold. I really don’t know what else to say. I’ll add more later on.
edit 230am
I’ve been watching kdenninger videos for sometime now and would like to share this video
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If anyone hasn’t seen this video, I think its a must see.
Jim Rogers
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I don’t know what else to say! Back in Oct things weren’t looking good, and now things aren’t even looking better. We are due for a bounce but I’m not expecting much of a bounce. I’m going to continue to sit on the sidelines and weather out the storm. I see no point in forcing trades, or opening new positions.

$INDU

$COMPQ

NASI

I’m still sitting on my hands. I don’t see much out there ‘working’. A few charts were showing a decent floor but they turned out to be ‘traps’. I’ve been watching CRGN at .82 I was very tempted to try it again and the very next day it tested .75. I’m currently watching (Nasdaq: EDCI) (.67) and (Nasdaq: MECA) (1.04) as possible bottoms but I probably wont touch them, I just don’t trust anything right now. The odds are really not in our favor.

I currently have 2 open positions.
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For the past week or so my watch lists have gotten smaller and I don’t see much action in these. The volume is off and what looks ok ends up breaking lower. I see a lot of posts on OTC stocks and low float stocks which usually appear at the tops. I’m using caution and will be playing with smaller hands.

Something I talked about in Aug just before the turn up. Since then straight up!

NASI

DOW looks toppy and with no volume on this rally.

$INDU

Nasdaq looks like it wants to come back to the 13ema weather or not that holds…..?? I have my doubts.

$COMPQ

It might be a few days before a few new plays appear. The Dow and the Nasdaq keeps climbing, but these little ones aren’t moving and most of them are over extended. I’ll scan through the stocks again and see if I come up with anything. I use this site to monitor Nasdaq 2.00 and less to see how there trading. Yesterday it was pretty dead and today looks the same.