IMVHO
#11
Posted 08 July 2009 - 03:38 PM
#12
Posted 08 July 2009 - 03:41 PM
#13
Posted 08 July 2009 - 03:45 PM
Tea,
I have always enjoyed reading your posts. The work you present has always been researched and well thought out. Latley however I have seen a couple of posts by you stating big gaps up that will never be filled. I curious as to what technical indicators you are using to predict a gap up? My experience over the years have shown that gaps are always filled. I would rather see the market gap down and buy when the gap is filled.
Thanks
Sorry...I did say "gap up will never be filled" the other day...but that WAS tongue in cheek...I was taking the micky out of a certain individual who is CONSTANTLY calling for gap ups that will NEVER get filled
....this time I'm a little more serious....if we do get a gap up...I said it shouldn't be sold....it will be filled....but probably not for the next 3 or 4 weeks.
#14
Posted 08 July 2009 - 03:53 PM
#15
Posted 08 July 2009 - 03:58 PM
Tea,
I have always enjoyed reading your posts. The work you present has always been researched and well thought out. Latley however I have seen a couple of posts by you stating big gaps up that will never be filled. I curious as to what technical indicators you are using to predict a gap up? My experience over the years have shown that gaps are always filled. I would rather see the market gap down and buy when the gap is filled.
Thanks
Sorry...I did say "gap up will never be filled" the other day...but that WAS tongue in cheek...I was taking the micky out of a certain individual who is CONSTANTLY calling for gap ups that will NEVER get filled
....this time I'm a little more serious....if we do get a gap up...I said it shouldn't be sold....it will be filled....but probably not for the next 3 or 4 weeks.
In a nutshell that would imply good 2nd Q earnings?
#16
Posted 08 July 2009 - 04:02 PM
We have classic bottoming action here...so classic that we may make a new high....target 960 before dropping profusely...
What I would love to see is Globex action making another low in the 860/62 area...with cash making a higher low in the morning...but that might be too wet of a dream.....cash has either put in it's low......or will need another low. If we need another low in cash....I'd be watching OEX 407/408 for a very strong reversal..A gap up tomorrow shouldn't be sold. ...it will be a gap that won't ever be filled ...within the next 4 weeks...
Tea, not sure what is so "classic" here, I can see a st pop but it sure smells like we have started another deflation leg here, sentiment has changed to the glass is half empty too, I am sure you have a high confidence wave count to support your conviction and if correct you will surprise a bunch of folks, although Chieffy looking for an 860 low then up so we'll see
#17
Posted 08 July 2009 - 04:03 PM
Edited by rkd80, 08 July 2009 - 04:03 PM.
#18
Posted 08 July 2009 - 04:03 PM
so basically tor nailed it ;-)
Maybe...but I think he's stopped out. I can't get a straight answer on spx or es....I've been politely asking what he's trading but can't get an answer. I was trying to help earlier...if it's a spx entry, then he's fine if we bottomed or he'll be stopped out just before a ramp if we haven't...if it was ES ...he's stopped out
what exactly are you talking about tea?
#19
Posted 08 July 2009 - 04:11 PM
#20
Posted 08 July 2009 - 04:15 PM
We have classic bottoming action here...so classic that we may make a new high....target 960 before dropping profusely...
What I would love to see is Globex action making another low in the 860/62 area...with cash making a higher low in the morning...but that might be too wet of a dream.....cash has either put in it's low......or will need another low. If we need another low in cash....I'd be watching OEX 407/408 for a very strong reversal..A gap up tomorrow shouldn't be sold. ...it will be a gap that won't ever be filled ...within the next 4 weeks...
Tea, not sure what is so "classic" here, I can see a st pop but it sure smells like we have started another deflation leg here, sentiment has changed to the glass is half empty too, I am sure you have a high confidence wave count to support your conviction and if correct you will surprise a bunch of folks, although Chieffy looking for an 860 low then up so we'll see
860 spx or ES is what I'd like to see too...to bottom an ED
Edited by Teaparty, 08 July 2009 - 04:18 PM.