Bill L.'s  Instablog

Bill L.
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Methodology: setups require certain criteria to be met before trades can be executed, which include weighted statistical studies on several indicators of price, breadth, volume, and sentiment . Amount of risk taken is proportional to how many indicators are aligned. I mainly trade market... More
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  • November 1st, 2012 - Short Term Target 3 comments
    Nov 1, 2012 11:54 AM | about stocks: SPY, DIA, QQQ, SPXL

    Rectangle Measured Move Target: 1435
    (click to enlarge)

    Indicators suggest there's some run to run as well...

    AD Line:

    (click to enlarge)

    UpDown Volume:

    (click to enlarge)

    Disclosure: I am long SPXL.

    Stocks: SPY, DIA, QQQ, SPXL
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  • Bill L.
    , contributor
    Comments (691) | Send Message
     
    Author’s reply » If you missed it, yesterday's update: http://seekingalpha.co...
    -Bill L.
    1 Nov 2012, 11:56 AM Reply Like
  • Bill L.
    , contributor
    Comments (691) | Send Message
     
    Author’s reply » Met the first target this morning (almost, missed by .76 S&P points), it seems that the overhead resistance outlined in the first chart was enough to repulse the SPX back lower. It's up the bulls to keep the rally going and close above this resistance. My guess here is that we do since there does appear to be some upward momentum and most of the indicators have some more room to run higher. An hourly close below 1423 would be a sign that the bounce is fizzling, anything below 1417 and I'm out of my long completely to reevaluate.
    -Bill L.
    2 Nov 2012, 01:00 PM Reply Like
  • Bill L.
    , contributor
    Comments (691) | Send Message
     
    Author’s reply » Taking a shot on the long side here, full update later tonight.

     

    -Bill L.
    5 Nov 2012, 03:44 PM Reply Like
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