Thurs thoughts

[16:23:08] previous moves in TLT with volume at this level have tended to have TLT at least test its 15 period daily moving avg, now near 122.95
[16:20:35] TLT volume today was its highest since 8/11/11

[16:18:12] SPX is on a 4 to 16 hour sideways bulllish bias now imo, using 60min timing charts

[16:14:30] the daily ES printed a doji candle, in japanese psychology interpreted as indecision
[16:14:54] the TLT candle however is bearish tlt
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[15:53:05] still long in all of these (some are bearish trades tho): ACIW AGQ SLV BAL DGP MIND SSYS TMV TNA UTIW VTNC for multiday to multiweek depending on stock,,,all still buyable here at these prices imo


340
SSYS long has nice bull diverg on 60min charts, macd hist , for swings long,trgt 12% higher


339
4860 still same trgt 1 for tna

[15:33:36] ES just hit its 1316 trgt posted at 3:02 pm, still could go higher today

[15:02:21] ES 1316 trgt today, could bounce up there,, could go over 1316 today also


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[14:58:15] significant selloff in TLT in its impt 2pm--3pm hour (vs spx 3-4pm)
[14:58:41] 128.11ish to 127.11ish drop in minutes, TLT,, HUGE red candles on the 3min and 60min charts


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OIL and GOLD often move together but the relationship is not always present. In Aug - Sept 2011, GLD went higher as USO went lower,,, we see the same thing with USD vs GLD, and TLT vs SPX,,US Dollar vs SPX,,etc

[13:18:12] imo, i still believe lower TLT will cause higher GOLD prices, as they use gold for "safety" due to the lack of yield in treasuries at these levels
[13:18:49] SP500 may also see higher prices from lower TLT, but imo smart money is going into other sectors like gold, with less money into equities stocks

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Look at TLT daily candle, unless it rallies back to its highs by 4pm, TLT will have a bear gravestone doji right now. Yesterdays candle and volume suggested toppiness, and this is a further warning of topping in TLT with an expected reversal lower in coming days and weeks.

Trades can be viewed at the links below.


http://www.marketwatch.com/game/christopherstockguy-public-1/portfolio/Holdings
http://www.marketwatch.com/game/christopherstockguy-public-1


For details on the portfolio see this posting:
http://christopherstockguy.blogspot.com/2012/04/link-to-trading-portfolio-of-posted.html

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".