Comments on: Video Update ~ 11/28/2009

By: zee

zee — Mon, 30 Nov 2009 11:17:56 +0000

You are correct in the Thanksgiving assumptions;however what I meant is that since cycles confirmed a 11-day top on nov 16th, we had TWO whole WEEKS to sell off 5% and we didn’t manage too.

By: Anjali

Anjali — Mon, 30 Nov 2009 06:31:59 +0000

Zee – one more q, if we make an intraday high, higher than the Nov 18th high, but then fall back into Dec 1 …. does that still hold as a low ?

By: gunsgutsgold

gunsgutsgold — Mon, 30 Nov 2009 04:51:17 +0000

I don’t know why Zee thinks it should have sold off 5 to 7%. If the Dow had sold off more than 1.87%, it would have been a new record selloff for the day following Thanksgiving, since Thanksgiving was first recognized as an official Fed holiday in 1941.

1987 holds the decline record for the day after Thanksgiving with the DOW -1.87%. The week after Thanksgiving 1987 was down 8.76%.

Friday’s trade (Dow -1.48%) now has the second largest decline on the day after Thanksgiving, since 1941.

What IS unusual, is the market declining at all on the day after Thanksgiving. I think it happened only 15 times (including this year) since 1941, and then only by minute amounts.

By: Chacro (CASH)

Chacro (CASH) — Mon, 30 Nov 2009 04:30:40 +0000

Moved to cash after Fridays gap down and rally up. I too hope for early weakness to get long either Monday or tuesday. Still bullish until price action negates it.

By: Valerie

Valerie — Mon, 30 Nov 2009 04:28:47 +0000

Or check out post #9. 3 min’s take followed by Jim’s. Guess we’ll be down 200 at the open and rally over 1100 by EOD.

By: Valerie

Valerie — Mon, 30 Nov 2009 04:24:19 +0000

Agree 100%. No, agree 200%.
As Zee says:
“The market only sold off 2.5% when it should of done at least 5-7%.
This rarely occurs.. and it indicates either a huge rally or a end-of-year top”
Wow. One or the other huh?

By: Anjali

Anjali — Mon, 30 Nov 2009 04:23:08 +0000

Zee – thanks for sharing, will be great if you can post your entries too

Right now it seems that the mkt will move up …. and then may decide to fall …

By: Goingtoretireoneday

Goingtoretireoneday — Mon, 30 Nov 2009 04:22:35 +0000

Agreed Jim, wouldn’t bee surprised to see it down 300 either. No way it finishes in the green.

By: gunsgutsgold

gunsgutsgold — Mon, 30 Nov 2009 02:53:51 +0000

a bull moose, no doubt.

By: jb

jb — Mon, 30 Nov 2009 01:56:45 +0000

bulls and bears…on and on and on…just intraday trade and save yourselves the continued arguements… I have heard down 2% from the bears and up 2% from the bears…someone posted on here with an “I told you so” perspective…well, that bearish “I told you so” aspect lined my pockets monster on Friday trading the ES…like I said, take intraday and who cares who is a bull or bear…gaps like Friday WERE KICK ASS FOR THE BULLS…retracement into the money hard was a given…that is trading…not guessing like most here