9th November 2011 - Slipstream Trader Market Update

[SuperGiantDog]

Pop, nice one Murray!!!! Lets see if she swings all the way down to the bottom of the range from here... Brilliant work as always, much appreciated!

[geo801233]

Got to be happy with a 400 point drop ;-)

[m1santhrop3]

according to my MACD histogram, the bulls have almost run out of steam.

[Sliepnir2006]

I will tell you what though, if it takes a freaking civil war to get us away from the assholes who represent us in the UK and Europe and the bludgeoning power freaks of the Markets and stock exchange let it be done and done soon. For crying out loud...

[Sliepnir2006]

Will you lot just for once screw out of democracy, there is far too damn much about your losses every freaking day. The sooner the Euro goes down the better, at least then, with a bit of luck there will be less hasty lending and perhaps fewer losses.

You damnable cretins are the root cause of the problem today.

[fishisbitis]

As Rod Stewart once famously wrote: "tonights the night"!!

[tommybommbadil]

Great analysis

[Flynntrader]

Murry i know your not a fan of Edwards and magge but I need to point something out! This market on a 10 minute chart is looking like a rising wedge with a target of 1280, a double top is possible here. Also if you get a daily chart up, snap a line across the head and over the right shoulder, overhead resistance is 1320ish, off course it's rare to have such a strong rally but I think we gotta go down, technically it makes sense, fundamentally it's a no brainer, Us dollar is looking bullish too,

[gneogy]

Keep the faith mate! She'll roll over soon enough. On the monthly chart, the S&P and the ASX200 both seem to have bounced off the 200 mth MA, and are testing the 10 mth MA. Methinx they shall be found wanting.

[amire6464]

Murray lay it out so we can play it out.

[slipstreamtrader]

Hi @mullera007, I am still scratching my head as to why the equity market is shrugging off the price action in Italian bonds.

Can't help feeling we will wake up to a down 3-5% day soon.

[TreemontT]

@slipstreamtrader There you go...you got it in just a few hours, Murray! Good call.

[melsolecki]

@slipstreamtrader YOU WERE SO RIGHT ON!!!

[slipstreamtrader]

Hi @gottagetatubename (like the username by the way)

I always see your name popping up. Thanks for your continued support. Its nice to know people are listening. Even if I do end up with a bit of egg on face as may happen this week. The fat lady hasn't sung yet though.

[slipstreamtrader]

Hi @ajmac72 I do agree that the bears are exhausted. I know that I am. But I have felt this feeling of being pushed to the edge before and I feel confident that we are close to a pivot point in this market.

As I said in the video either that or I am indeed wrong to be bearish.

[ajmac72]

To make money in the market always do the opposite of what the news is telling you. Simple. If the News is telling you Armageddon is approaching... Buy like there is no tomorrow. If the news is telling you that markets are going to soar to new highs sell before the sucker punch. That's how the smart money plays and that's why the average punter gets massacred every time.

I do really enjoy your TA Murray and you have some very valid points. But have you considered that the bears are exhausted?

[mullera007]

good stuff. market is dumb & way manipulated. any witless person can see what is going on. italy 10 year means they need a bailout, but they are too big to bail. also no detail on fix and chump change on EFSF

[gottagetatubename]

great work Murray