Pekelo explains the sell off

Discussion in 'Technical Analysis' started by Pekelo, Feb 7, 2018.

  1. "Disappointing"??? Last I heard, 78% beat top and bottom. Whu' happen'd??

    (My suggested reply: Janet and Jay took away the punch bowl. And every body said, "Wuhhhhh!! 'Buzz kill!!' We're going home!")
     
    Last edited: Feb 7, 2018
    #11     Feb 7, 2018
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  2. Pekelo

    Pekelo

    Because I saw the vertical nature of the market before that, I just didn't dare to call it. Also in the last 15 months we had similar bad earnings and the market never dipped more than 120 ES points.

    I could just blame it on the interest rates outlook the same. As I said, the trigger was irrelevant, after the January 200 points rally it was in the cards no matter what.
     
    #12     Feb 7, 2018
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  3. Probably could have qualified that a bit better...I mean expectations were for a bigger beat.

    And oh yeah...how'd I miss Yellen's last day while describing the fundamental case? o_O
     
    #13     Feb 7, 2018
  4. Pekelo

    Pekelo

    80% of the guys on CNBC are there just to show their faces, and couldn't figure out what was going on.

    Sure had I called it a week ago would have given me more credibility, but at least I have a valid explanation, specially for the bounce, most of those guys are still clueless.
     
    #14     Feb 7, 2018
    Buy1Sell2 likes this.
  5. Buy1Sell2

    Buy1Sell2

    I remember Marketsurfer putting his name in thread titles using 3rd person to attract attention. Anyway--good analysis.
     
    #15     Feb 7, 2018
  6. Pekelo

    Pekelo

    I am a very stable genius. Not narcissistic whatsoever. :)
     
    #16     Feb 7, 2018
    Xela, johnnyrock and tommcginnis like this.
  7. volpri

    volpri

    Marketsurfer FINALLY GOT HIS 1000 point drop! He kept insisting it would happen. Now that he is vindictated rush out and buy his book!
     
    #17     Feb 7, 2018
  8. Going back 50 years on SPX daily chart my momentum indicator was at an all time reading Jan 26th higher readings for 16 straight trading days, then turned lower next day.
     
    #18     Feb 7, 2018
  9. johnnyrock

    johnnyrock

    Narcissism is underated:
    • Jesus
    • Founding fathers of USA
    • Current pres
    You are in good ccompany! Start your own religion, country or just run this one if you have a minute.
     
    #19     Feb 7, 2018
  10. LacesOut

    LacesOut

    The VIX Led the way.
    I don’t even trade stocks much but I noticed it and went short last Friday.
    Of course I felt like a genius on Monday and took my profit. Only to realize I could have had 10 times more profit if I had just waited another few days.
     
    #20     Feb 8, 2018