Tradingurus.com The Social-Network for Traders and Investors
Your Ad Here
Contact UsOur MissionHow does it work?Register
Home
Opinions
Content Map
Stock Picks
Forum
Upgrades & Downgrades
Latest News
Technical HELP!!!!
Personal Blogs
Contributed Articles
Company Directory
Glossary
Links
Search
Subscribe with Bloglines
 Subscribe in a reader
page counter


Add to My Yahoo!
The Federal Home Loan Bank System: The Lender of Next-to-Last Resort?.

Adam B. Ashcraft, Morten L. Bech, and Scott Frame. The Federal Home Loan Bank System: The Lender of Next-to-Last Resort?. Federal Reserve Bank of New York Staff Reports Staff Report Number...
+ Get the Full Story

Other Articles
Content Map Opinion Market Opinion

Search by tag : monthly, chart, interestingly, enough, the, bottom


[David Elliott , mentorcenter] TIME TO MOVE OFF THE DIME

 

Written by David Elliott, on 04-08-2008 06:14

Views : 103    

Favoured : 1

Published in : Opinion, Market Opinion


THE ELLIOTT DAILY MARKET COMMENTARY

Yesterday, Friday's Market commentary
Again ! the technicals made a perfect market call down market and a down market close for the indexes. The last hour had help from CNBC's interview with Greenspan!
Some interesting divergences yesterday were the banks, they did not sell off with the indexes.
ELN continued to get crushed with bad news with large drops overnight. Fortunately we were waiting for a correction before our next entry.

Today our technical patterns are suggesting an up day, contrary to the emotional feel of the markets and their closing move.
The DJ-30 held at the 30 minute 50 SMA support, having broken the hourly 50 SMA with the Greenspan push.
DJ upside targets ; 12,522 , 11,586 , 11,697.
SP-500 upside targets ; 1291.17, 1335
QQQQ upside targets ; 46.13 and 48.00




This market bottom call we have made this past week is NOT THE BOTTOM, in my opinion, but a oversold bounce in a down market that has plenty of road to travel in a down move yet to come. This bear market should challenge some 2000 bear market lows.


TODAY'S MARKET, Monday, August 4, 2008.
Good sell off, good rally, whoops … couldn't hold the run back to par Friday.
The Russell 2000 was the only Index that responded and closed on the positive side Friday.

Today Technicals are suggesting a positive close today from the signals generate from Friday's market.
DJ-30 11,389 and 11,539 are our two upside resistance targets.
QQQQ 45.21 and 45.90 are our two upside resistance targets
SP-500 1270 and 1282 are our two upside resistance targets.
IWM 72.38 and 73.85 are our two upside resistance targets.

Surety and Title; SCA 169% in last three days , MBI, MGT, ABK from Friday's post … killer returns.

GOVERNMENT REPORTS



Aug 4 8:30 AM Personal Income Jun 0.1% 0.0% -0.1% 1.8% 1.9%
Aug 4 8:30 AM Personal Spending Jun 0.6% 0.4% 0.5% 0.8% -
Aug 4 10:00 AM Factory Orders Jun - 0.5% 0.7% 0.6% -
Aug 5 10:00 AM ISM Services Jul - 51.0 48.0 48.2 -
Aug 5 2:15 PM FOMC Policy Statement - - - - - -
Aug 6 10:35 AM Crude Inventories 08/02 - NA NA -81K -
Aug 6 3:00 PM Consumer Credit Jun - $7.0B $6.0B $7.8B -
Aug 7 8:30 AM Initial Claims 08/02 - NA NA 448K -
Aug 7 10:00 AM Pending Home Sales Jun - - -1.3% -4.7% -
Aug 8 8:30 AM Productivity-Prel Q2 - 2.8% 2.6% NA -
Aug 8 10:00 AM Wholesale Inventories Jun - 0.6% 0.6% 0.8%




MARKET TRENDS

Long Term : 100% BEAR: Weekly failure of 50 SMA, start of Bear, confirmed on failure of Weekly 200 SMA (on 6/26).

Intermediate Term: BEAR: Both failed daily 50 and 200 SMA.

Short Term: BULL: Hourly below the 50 SMA and below THE 200 SMA.





Market Sector Movers Yesterday, TODAY'S PICKS.
Surety and Title; SCA 126% in last two days , more to come.; MBI, MGT, ABK
Long Term Care SUNH, KND, SKH
Banks, Pacific; AWBC, PCBC, PFBC


MOBO BREAKOUTS

TGIC
VPRT
CNXT
TRSA






<$2 Stock
AGIX day2
GTOP day 2
TGIC
BBX
ATSG



SNAP BACKS UP
CYBX


COMING CLASSES:

Our next Advanced Equity class is in Philadelphia

Philadelphia Class
CLASS DATE: AUGUST 9 AND 10, SAT/SUN.

LOCATION: Renaissance Philadelphia Hotel Airport

500 Stevens Drive

Philadelphia, Pennsylvania 19113 USA

Phone: 1-610-521-5900

Fax: 1-610-521-4362


SEATTLE CLASS 16 AND 17 AUGUST.

LOCATION: Courtyard Seattle South-center

400 Andover Park West

Tukwila, Washington 98188 USA

Phone: 1-206-575-2500

Fax: 1-206-575-0129

EMINI CLASS FIRST WEEK OF SEPTEMBER, 3,4,5 in San Jose California !
CALL, OR EMAIL FOR DETAILS UNTIL WE POST ON WEB PAGE.



At Sea Seminars

http://www.wallstreetteachers.com/At_Sea_Sem/At_Sea_Sem.html

At Sea Seminars with David Elliott

CRUISE THE MED WITH US: From VENICE to THE GREEK ISLES!

For the first time ever, we are offering a second cruise in the space of a year: and this is something very special! Come sail with us from the incredibly beautiful city of Venice, down the Dalmatian Coast on the Adriatic Sea, into the sunny Eastern Mediterranean and around the corner to Greece and the Greek Isles!

What could be better - combining business and pleasure may just be the ticket to the vacation of a lifetime - and may even be written off! Take advantage of one full and two half days of At-Sea travel to study with David. Then spend the rest of a wonderful journey exploring with him, dining with him, and picking his brain? at your leisure, all in some of the most wonderful historic places on earth! Ship?s cabins are quite reasonable, and the modest class price of $295 is applicable as a discount off select WallStreetTeachers products*! So CLICK HERE to reserve your spot - hey, can you really afford not to. Then contact Bruce Utter at 1-888-333-3116 , or email him at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Here's our ITINERARY and a just a bit about each wonderful stop:

Sat 10/4 Venice Italy; depart 5PM

Ah, Venice, truly unique in all the world! Renowned for its ?fluid avenues, where boats provide door to door transportation around the beautiful city. You'll want to come early and spend time wandering along the Grand Canal and over the myriad bridges, through the tiny streets where the only traffic is by foot, into St. Marcos Square...Venice is not a place you'll easily forget.

Sun 10/5 Cruise the Adriatic: Classes held all day

Mon 10/6 Piraeus (Athens) Greece; dock 12, depart 8 PM

Athens, named for the Goddess Athena, became the capital of Greece in 1834. Athens will bring to mind the Golden Age of Greece in the 5th century before Christ, when enormous strides in architecture, literature, math and science, philosophy and medicine were made. Walk in the footsteps of the ancients - Sophocles and Euripides, the great playwrights; Hippocrates, Father of Medicine; Socrates, Plato, and Aristotle, the greatest names in philosophy; and Herodotus, called the Father of History. We'll hold morning classes, then we?ll visit the Parthenon and the Temple of Athena Nike.

Tue 10/7 Mykonos Greece: dock 7 AM, depart 7 PM

According to mythology, Mykonos was where Heracles killed the giants. The rocks around the island are supposedly their corpses! The harbor esplanade is lined with open-air cafes where you may be visited by one of the pelicans who are the island''s mascots; visit the famed windmills, or travel to the little island of Delos, with ruins to rival Delphi and Olympia. Read more about Mykonos Island.

Wed 10/8 Katakolon Greece: dock 12, depart 7 PM

We?ll hold classes in the morning, then spend the rest of the day exploring. Katakolon is basically a port; it's close to the archeological site of Olympia where the ancient Olympic Games were held; and there's an Olympic Museum which promises to be most interesting.

Thu 10/9 Corfu Greece: dock 7 AM, depart 5 PM

Homer's Home: Odysseus? last stop was Corfu, where he was washed ashore when his ship had sunk. The Achilleion Palace was built by the Empress Elizabeth of Austria in 1891, and houses the Terrace of the Muses. Read more about Corfu (Kerkyra).

Fri 10/10 Split Croatia: Arrive 8 AM, depart 6 PM (tendering to and fro)

The Emperor Diocletian was Dalmatia's most outstanding contribution to the Roman Empire. He retired to his birthplace near Split and built a magnificent palace, a fascinating place to explore. Begun in the Third Century, it has been built and rebuilt; now this city within a city displays architecture from the Romanesque to the Baroque.

Sat 10/11 ...and back to Venice Italy: Arrive 7 AM

Contact Allison at 407-719-2592 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it for more information.

*Discounts may be applied to all CDs, CD Sets, VHS tapes (beginner level), and the AET Live Class: Subscription services and The Ultimate Emini Class are not eligible for discounts.


Common problems for not receiving Your Yahoo Daily Market Comment Email

1. Inbox full

2. Typo in e-mail address (contact us if you don't receive your signup receipt)

3. ISP is blocking our e-mails (contact them to let them know you WANT to receive these e-mails)

4. You are blocking our e-mails (check your junk mail filters) Put our address in you address book.

5. Your e-mail software is blocking our e-mails (check your filter settings)

TRADE STATION USERS, WE ARE SETTING UP A SPECIAL PROGRAM FOR YOU TO SET UP WITH OUR TCNET SETTINGS.




WallStreetTeachers.com is not a registered Investment Advisor, or a
Broker/Dealer, and does not provide investment advice or
recommendations.
Subscribers to the Hotcomm.com site, the Yahoo site, and the
TCNET "firstwave" club are advised that the information, opinions,
and analysis included there are based in good faith on sources
believed to be reliable, but no representation or warranty,
expressed or implied, is made as to their accuracy, completeness, or
correctness. Past performance is not necessarily indicative of the
future performance of stocks posted in the "firstwave" club or
`Hotcomm.com' site, or Yahoo site.
Neither these postings nor the "Firstwave" chat, "Wallstreetteachers"
`Hotcomm.com' site, or yahoo emails, nor any other information
provided on our web sites, or through any other
communication constitutes a recommendation to buy or sell stocks, or
any other investment. Investing involves the risk of loss and
readers are urged to consult with their own independent financial
advisors with respect to any investment.

__._,_.___

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

__,_._,___

Recommend this article...





Reddit!Del.icio.us!Facebook!Slashdot!Netscape!Technorati!StumbleUpon!Newsvine!Furl!Yahoo!Ma.gnolia!Free social bookmarking plugins and extensions for Joomla! websites!

Last update : 04-08-2008 06:14

Quote this article in website Favoured Print Send to friend Related articles Save this to del.icio.us

Users' Comments  RSS feed comment
 

Average user rating

   (0 vote)

 

No comment posted

Add your comment



mXcomment 1.0.7 © 2007-2008 - visualclinic.fr
License Creative Commons - Some rights reserved
No Comments.
Discuss...
< Prev   Next >
At tradingurus.com you can create a blog, discuss on the forums, and even publish articles, and it is all free for non-commercial users!!! Create your free account and enjoy all of our features free for life.

 
Your Ad Here
© 2008 Tradingurus.com
Joomla! is Free Software released under the GNU/GPL License. JoomSEF SEO by Artio (http://www.artio.net) - databases, information system and web applications
The news, comments and other copyrighted content are exclusive property of their respective owners. www.tradingurus.com is not affiliated with Reuters, AP or Yahoo News, Google News, or any other publisher whose articles are appear on the Web Site. The news are aggregated by www.tradingurus.com with no claim of Copyright. All trademarks and registered trademarks are the property of their respective owners. Not Legal Nor Financial Advice. www.tradingurus.com does not provide legal or financial advice, the opinions of the articles linked to these pages are those of the authors. All viewpoints expressed by the authors are those of the original author and do not in any way indicate those of www.tradingurus.com.
We do not endorse and are not held responsible for claims made by authors in their individual articles. The accuracy, completeness, adequacy or currency of the Content is not warranted or guaranteed. Your use of information on the Web site, or other materials linked to the Web site is at your own risk.
The columns, articles, and any other features provided on www.tradingurus.com are provided for personal finance and investment information and are not to be construed as investment advice. The views and opinions expressed in an article or column are the author’s own and not necessarily those of www.tradingurus.com and there is no implied endorsement by www.tradingurus.com of any advice or financial strategy.
The information at www.tradingurus.com is NOT a recommendation or solicitation to buy or sell any securities.