Comments from WBBGroup:  Recent Comment Archive 

 

SELL -  GLD, GOLD, Energy, Dow, NDX, NYA, RUT, SPX  

 

gaps above -  1353    

(SPX - 1333, 1310-15, 1300, 1280, 1263, 1235 and 1227)

 

 

May 18, 2012 

 

1630 ET -  Graphs and models are updated.  Note the bolded Buy alerts and the unconfirmed Buy signals.  We don't want to be too bearish do we?  Monday could be quite a significant turn around especially from slightly lower lows.  SPX 1288 anyone?

 

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This week, we have had some sporadic technical issues on the site that got worse then better, then worse.  Many hours spent dissectiing/repairing etc.  Thank you Charly. :)

 

1530 ET -  Sentiments are simply just about as extreme as they can be.  Indexes are setting in the low for the session.  We suspect that SPX 1289 gap may be closed but during early action next week (we do post those gaps for a reason, fellow traders!).  The opening sequence on Monday could be quite the thing to witness.

 

The USD is proceeding as we expected with its topping action and whipsaws.  Euro may bounce here at the 1.26 +/- level.  Intraday is already a little hot though.

 

Energy shows hat it can stop going down.  The gold has gone to our minimum level for a bounce.  Let's see what it has next week on a pullback.  With USD trying to top, gold likely benefits for a few sessions at least.

 

1045 ET -  Sentiments are stable but may get a spike on the early trading for FB.  The NDX will likely pull other indexes if FB trading gets crazy.

 

We expect the hype will keep the indexes positive for the next few sessions - well, until at least some reality returns.

 

1000 ET -  34/33/+1.0/42 

 

0900 ET -  We expect the upward bias into mid-session.  From there, we expect that markets may find support for the rest of the session if the hype for Facebook is able to keep price away from the lows.

 

All the technicals point to overbought or oversold extremes that can reverse the tradables we cover.  USD is especially extended and looks to pullback, as we see it.

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We have seen the hype machine screaming before.  This time it screams for Facebook.  The best counter comment was "when some 13-year old girl gets tired of Facebook, its ads, its ownership of personal information, she will then find something or somewhere else to spend time. Facebook will be over."  We have heard and seen these stories before.  Dot bomb redux?   Maybe.  We don't care.  WBB

 

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Overnight -  Not much action this morning but a tiny positive opening in Europe.  The lateral track for today's session is preferred. 

 

 

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 A Very Short Term View from the Membership side.