James M Edwards 602.441.4303
DI: SELL per the INTRADAY guidelines
Intraday Break Point:
Buy above 1219.75sell below 1219
current reading is 938
buy, could be entering a period of 1200 bids
POMO: November 1, 4 and 8
Premarket talks about those items that directly affect what we will be doing each day in the market.Premarket has NOTHING to do with macro economics.
ve mentioned several times that 2011 will be the year of REALITY and with good reason. All of thetalking is finally going to get resolved in dollars. Obama Care, taxes, income, production
you name itand we
ve put coat hangers and patches on everything to make it all work for the time being. But thedeadlines and bills loom large.During the day I have a method of comparing what traders are hedging towards verse the current price(DI). At tops, short, intermediate and long term tops show the SAME pattern; DI turns down and priceREMAINS up. Tonight price is joining the side traders were setting up during the day. This formsdivergences and ultimately to a move.What if reality comes early? What if traders simply sell INTO BERNANKE
s money? This is why we mustwait on the schedule from Bernanke to know when he will begin spending money. ICI studies show thatthe public is still withdrawing monies from the market. So any monies that come in are weak withBernanke being the big spender. No FED no market. No Dow, no market. We know the dynamics.This is so important because Ben is the only real player. There are a few hedge funds taking the banksplace but they are not going to go against Ben. Ben is the big dog.
Price tonight is below the prior two ANT values. Price was kept above them all day and price tonight isbelow both values and falling thus matching the sell on DI. Support is still 1212 and if it breaks 1180 isthe number.James