MoneyMentorBlog

New Stop-Off at 11,500 on the Dow

2011-06-16T14:27:00.000-07:00

It now looks like the next stopping off point is at 11,500, before the Dow turns and tackles the climb up to 13,000.

That sounds pretty low. But, the current run down looks pretty deliberately headed for lower territory. And I think there is a bottom to be put in at 11,500.

Dow set for another ride up to 13,000

2011-05-31T10:55:00.000-07:00

The Dow Jones has established support at 12,271 by bouncing off the line and continuing on upward. It is likely that it will bounce off the 13,000 line and head back downward, but here's a free 600 points for you by riding the wave up to 13,000.

Response to iPad

2011-04-17T10:39:00.000-07:00

Regarding politicians complaining that the iPad is destroying jobs, like libraries, bookstores and all book-related jobs--
Here's my response:
When Gutenberg first started printing books, the public was all up in arms because no one would use their memory any more. Up until that time books were handed down through generations of story tellers. Well, look where that got us. We are just now on the forefront of seeing what will come of the new innovations. Hooray!

Dow set for ride up to 13,000

2011-03-04T11:31:00.001-08:00

The Dow Jones has been tinkering with the 12,000 mark and not doing much. It will probably do a little more backing and forthing at this level and then move on up to resistance at 13,000.

One more fast move up

2010-12-07T11:51:00.000-08:00

One more fast move up is all we need to complete the run to the Attractor at 11,750. Once that is touched, it will probably turn back down until it reaches 10,740.
After that correction, it will be back to the small bull market again.
As soon as we hit 11,750, take cover for a few months on the sidelines.

Attractor at 11262 is going to be hit soon

2010-10-16T19:06:00.000-07:00

This line of attraction we have been following for months, is just about ready to be hit. There's not much further to go. The Dow right now sits at 11062, and that 200 points can be easily made in a day.

My opinion is that it will make a sharp run above the attractor as it pushes through, followed by a retracement back down to 10769. After that happens, we will begin to see a serious move on upward as the stock market is now due for a true bull market move upward. Not a spike upward, mind you, but a market that "climbs the wall of worry."

The next attractor above the 11062 mark is at 11888 and it's a heavy one, with lots of resistance. Watch for moaning and wailing when we come to that level.

Bring It On, Folks

2010-10-07T09:14:00.000-07:00

Let's get this thing going. As soon as I get 20 followers, I'll start posting each weekend.
When I get 100 followers I'll post daily.
Then you will have short-term trading advice straight from the TradeStation expert, and author of the new "TradeStation Made Easy!" to be released in January.
Want to read the first chapter? www.moneymentor.com/ and click on the link near the middle of the center page.

Dow Still Sitting Under 11262 Attractor

2010-10-07T09:03:00.000-07:00

Dow (INDU) is still working on making its way up to the 11,200 - 11,300 level. It will get there soon. And probably make a quick move to do so. Once it does, watch for more downside action as the markets struggle with the Attractor, which will become resistance.
    It will take a few weeks for the markets to settle in and start treating the 11,200 level as support. When that happens, we will finally see a run for previous highs.
    Keep in mind that because of the prominent Head-and-Shoulders pattern on the monthly chart, we will probably see the Dow dip again into the 8,500 area and chop around between there and 11,000 for several years to come.
     Now is not the time to be playing the markets, unless you do it short-term, and are a seasoned pro.

Choppiness Abounds

2010-09-01T17:11:00.000-07:00

The Dow still sits under the 11,397 Attractor, just chopping around sideways. This is not a good time to be trading this market. I still think the Dow will rise to the occasion and make its way on up to the Attractor. But, it needs to show its hand by breaking out to the upside through the resistance at 10,300.

It almost did just that today, with a valliant effort, moving up some 250 points from low to high. But, although it came close, it did not penetrate the barrier.

Watch closely for a false breakout, and then a quick move that might even be too fast to capture.

"Grading the Gurus" is coming along marvelously. I'm finding out the tricks in the guru's advertising, and the systems that do actually work. Stay tuned.

2010-03-07T17:48:00.000-08:00

Sunday Night: 20100307
Dow Commentary
I believe we are on the move upward, looking for 11,000. But I don't think we'll achieve it right away. The Dow will probably get turned back at the 10,807 level as there is much Attractor pressure there. But, when it does break through, we're on a ride to almost 12,000 with the Attractor sitting at 11,962 from April of 2009.
It looks like we are currently in a B wave, and should see some choppiness for the next3 months before seeing the rise beyond the 10,807 level.
Comments?
Questions?

Tuesday Nite 2/2/2010 Market Commentary

2010-02-02T20:32:00.000-08:00

Yes, the news touts that the Dow had another triple digit day. So what! It's still down. Not as down as it could be, but it's been rolling over. The 11663 level holds heavy resistance overhead and will need serious time to be penetrated. In the meantime, the current move from 6469 in November 2008 to the near 11,000 mark in the beginning of January 2010 now needs to experience at least a 25% retracement (23.6% to be exact) down to 9,688 before it starts back up.
   In fact, a 38% retracement is more likely, and that would put the Dow down to 9,073 and scare a lot of folks.
   Unemployment, and under-employment, is rampant, with everybody knowing someone out of work and seriously in trouble with their mortgage. The current unemployment rate only shows people currently looking for work. What about those who have been out of work for a long time? And those who are trying to scratch out a living in other than their trained field? They're not even counted.
   The reason I expect the correction to go on to the 38% level around ,9000 is that there is a lot of support at that level. It will take about 12 weeks for this to take place, so beware.
   I'll let you know when it's time to be buyers again. In the meantime, take cover.

Time to Begin Again

2009-11-14T23:30:00.000-08:00

It's time to begin this blog seriously. I haven't posted since the very beginning, but would like to develop a following and regularly post market commentary. Obviously I can't post all of "Sunny Side of the Street" for free, but I could post highlights. Can anybody comment as to what you'd like to see appear here? I'm thinking comments about day-trading the Forex GBPUSD would be interesting and it's certainly profitable. So, what do you think? Comments please.
Please note that the beginning post was sure timely. In fact the market did tank and go right for the 7000 mark, as predicted! Keep in touch.
-Sunny

Market Strategy

2009-08-29T21:50:00.000-07:00

The Dow is now poised to make a run for it and climb steeply, or begin a correction which could dip as low as the 7000 mark. It's unclear which way it will go as of this date, but something is about to break.
We gave the warning to sell before the last dip, and at this juncture are suggesting putting in buy stop above and sell stop below the current level to enter automatically.
Let's use this blog to discuss all things financial, and technical.

First Entry

2008-10-10T10:19:00.000-07:00

Let's blog. Herewith is Money Mentor's blog site. Keep your commentary to thoughts about the Stock Markets, TradeStation, MetaStock and other trading instruments. Keep it clean.