Friday, October 23, 2009

Going into October 25th weekend

SPX Weekly - 2009

Declining top trend line from 2007 TOP


SPX Daily - October

If this Daily Sell Signal holds into the close,
another reason to go home SHORT this weekend
.


A

32 comments:

Allan said...

Daily SELL SIGNAL levels:

BWT = 1078.25
ATR = 1077.63

Dave said...

A lot of spooked folks out there right now.

Anonymous said...

If you really want to get spooked dive into today's report on existing home sales. As hard as the media is trying to spin this as a positive report it's downright SPOOKY^^^^

Eric

Anonymous said...

Allan,

Would you be adding NNVC at the current level of $0.50 .

Perhaps a capitulation or Doji forming.

Harvey

tapped out said...

.49 BINGO!

Anonymous said...

I think alan answered your question about buying more here in his comment. Sometimes he choses his words carefully and I think this is one of those times.

steve said...

more endless drivel about the sky falling and not one word about his favorite collapsing, his darling that he pumps every time it goes up.

Allan said...

steve: Go here, Comment #14, posted 10:17am this morning:

http://allallan.blogspot.com/2009/10/mostly-charts-wednesday.html

You were right about one thing, it wasn't "one word".....it was 71 words.

Dave said...

Well at least as of earlier this week (and I don't think the fundamentals have changed since then), Allan's advice was to stop watching NNVC and let'r ride. His comment today applies to the rest of the world. The sell-off on NNVC looks suspiciously like the MM's handy work in preparation for the next leg up. He's gotta eat too.

Ubreako said...

I suspect with NNVC , this is somebody accumulating the stock. Seeing that its so tightly held, the best way is to crash it and collect from all the weak hands.

It would terrible if this were not the case. That herpes cream should be commercial soon right guys ?

Ubreako said...

Would be funny if after this collapse of NNVC....an announcement comes out and the stock goes to 3 to 5 bucks.

Greed and Fear 101

abot said...

a nice nnvc's press release would be welcome at this time..

Anonymous said...

Bought a bunch at .45 to lower my cost basis to .60.
I'm a bit queasy right now....

CruiseSource said...

Damn...should have sold NNVC at .90 got greedy...

Anonymous said...

THE COMPANY SHOULD COME OUT AND SAY ALL IS WELL IF IT IS, CONSIDERING THE STOCK PRICE WAS DOWN 25% ON HEAVY VOLLUME

Anonymous said...

It is not the case only with NNVC.
Lot of stocks made similar move this week even worse than NNVC.
In any case i consider myself lucky to load another 10000 at $0.4650
serge

Anonymous said...

I am sure there will be no any positive news release (rather negative) but if you observe the chart of NNVC more carefully you will spot some seasonality pattern. NNVC always trends down in the end of the year. There is still chance that this stock drops further to 30 c. before it rises again. Lili

tapped out said...

I consider myself skilled!

Anonymous said...

Downside target for Goldman Sachs (GS)?

Anonymous said...

What's going to protect NNVC from the general market decline that we all know is coming?

I'm not being sarcastic, I just don't see the point of going heavily long in a speculative stock during a bear market. If the next down leg is about to hit, why not get out now?

Anonymous said...

to anonymous 1:25 pm
if you observed the chart of nnvc very carefully you would have at least noticed that any close below $0.50 there will be a chance the stock might print $0.30.....now the close was above fifty it means we touched the bottom and from there we go
Serge

Anonymous said...

Allan:

One question:

Is this market going down and down HARD before the end of Oct?

T said...

.....I always arrive late to the party ....and now everybodys gone .

some random thoughts about nnvc....
after reading almost All the posts on the 'Investor's Hub' web site (thanks Allan),in the nnvc blog,
one prominent suspicion stands out, based on what looks like programmed selling,of 100 shares every 3 minutes, for many consecutive days,brought the price down in an abnormal way,made it hard for buyers to get filled at times,its possible the SEC is now looking into it.

Technical analysis of waves and trendlines should have the price holding up here in the 55 area.it looks like intraday fell as low as .42 area? but closed around 55.

The concerns people have are all over the place.
I would suggest each investor has to keep the right outlook for what this stock means to you.
Why did you buy it to begin with? Do you want to speculate short term and trade it when it gets to $1.00 and make your small profit?

Do you want to hold your shares for however many years it takes to see the stock hit 10 dollars...or 20 dollars, or (name your multi-bagger win)?

and trying to decide whether to buy more at the current price, basic math can answer that for you.
If you want to buy 10 thousand shares now in order to sell them at 1.00 you will make a nice chunk of change and thats all.

but if you are in it to hold for the big payoff in 2 or 4 or 6 years, then it doesnt matter whether you own 15 thousand shares at 80 cents or 15 thousand shares at 50 cents. so technically theres no need to buy more now, if you own 10 thousand or more shares.

the risk is that instead of losing 13 thousand dollars ,you could lose 20 thousand dollars...if the company collapses.

arent you glad I'm figureing all this out for you??

I bought 17 thousand at 80 cents .I'm tempted to buy 10 thousand more now . but all it does is make my cost basis go from 80 to 67. Is it worth it?
Maybe I'll just wait and see where the price is in 10 days.or 40 days.

Maybe it would make a big enough difference to buy more only if the price drops to 30 cents.

Its an interesting observation of what penny stock speculation investments can do to the psyche of investors.
You really have to have a clear frame of mind about WHY you are buying (and selling) this stock.

If you cant stand the roller coaster then sell it when it gets back to 1.00 and take your nice little profit...and dont ever buy any more penny stocks.

If you cant stand the idea of waiting patiently for 5 years....sell it at 1.00 and take the profits.

I mustve spent 2 hours reading all the posts on that web site .... the faithful cherleaders who 'believe' in this stock,the worried watchers who are in the middle on edge, and the naysayers who are calling everyone else a sucker.

I'm just going to trust Allan on this one.
I stopped looking at the gain/loss data on my account page two weeks ago.
I'll probably buy more if it goes down to 35,IF the wave structure looks right and my other indicators look like good timing.
and if world war 3,or the dollar collapse,or the market collapse doesnt happen before then.

Thomas said...

Speaking of 'market collapse' and those charts you posted,-- talk about the train coming into the station ?!!
As a contrarian thinker, the big problem I have with this chart,and alot of charts that I see ,is that it all looks TOO Obvious.
It looks suspiciously obvious,as if its a trap set by the engineering department of the rigged game controllers.....the little piece of cheese perched right at the tip of that terminal ,waiting for the technical analyst 'suckers' to pull the trigger .
How many people pulled that trigger on august 4th after reading Prechter's call? How many pulled the trigger (like I did) on sept 17 th ,feeling smug until october 2nd.

Never forget that this whole market is a government engineered ,manipulated ,rigged game.
If you dont realize that by now.... you should stop investing and trading.

IT'S A RIGGED GAME.

So I have to think like a 'rigged game engineer'
If they are offering the bait here and they want you to take it,..... dont take it. wait one day longer. wait a week.

Wait ,just to see their scheme play out a little more clearly.

Wait to see the next propaganda promo on the boob tube,or the next fake commentary from a central bank president,or a fake swine flu scare report, or the next fake iran bomb threat drivel.
Wait for chicken little to actually get run over before you cross the road.
sit back,get out of the market ,and relax and Wait 3 or 4 months to see what happened between now and april..... what a novel idea. could you do it? see if the market didnt crash, war didnt break out, see what correction ,if any, played out....wait like you did back in spring 2008,if you were smart enough to get out then.
There's nothing wrong with waiting.
wait for gold and silver to come back down .
There will always be some good investment somewhere.
wait for brazil stocks to come down.
wait for China to stabilize and hold at .....shanghai composite index ....2900...holding there is a buy.Let it drop from where it is now (3000 area) to see it hold in the 2900 area.

That would be China's big correction....done,completed.
Brazil hasnt had theirs yet.
nor India.
The more I study everything, the more it tells me to Wait.
Waiting is one of the hardest things to do.

Anonymous said...

Yes. The market is "rigged" and I am one of the "riggers." It will decline when I and my colleagues are ready.

Note there are multiple gov't officials involved in this.

T said...

I Do note it.but not with a dismissive mind as you express.
I observe it with openminded clear thinking vision. and willing to change my thinking if I see something better.

Anonymous said...

Allan, watch a very interesting interview with Gerald Celente titled : Gerald Celente Returns on Alex Jones Tv Federal Reserve Manipulation in Washington D.C

http://geraldcelentechannel.blogspot.com/

They tell us what they dont tell on CNN, CNBC, Bloomberg and other media (with an exception of MSNBC and Dylan Ratigan who looks like a hero to me)
Lili

Anonymous said...

I guess I look at the other side of the coin eventhough I think thre is a correction coming. IF it breaks the 2007 line, don't we need to adjust for the fact that there is likely more upside to go? A lot more? Just curious how you read the leaves all.

Anonymous said...

Allan:

When are we going to make money following this site?

Anonymous said...

Another very interesting interview with Nouriel Roubini of 23 Oct. whose thouhts are completely in line with Allans thinking about the fate of these markets.

http://seekingalpha.com/article/168497-nouriel-roubini-one-on-one-more-doom-and-gloom

Lili

Anonymous said...

Dow futures appear to be down >100points on Globex. I would argue that's bearish.

Anonymous said...

Dow futures appear to be down >100points on Globex. I would argue that's bearish.

Oops, I'm getting conflicting data...this may not be right.