9 replies to this topic

[eminimee]

A chance that OEX has seen it's top or may have one more small high coming....I'm starting a collection of May puts.

a daily and 2 weekly's....second weekly is if 615 and especially 604 fails to hold. If OEX has topped....I think most markets have topped.

http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=2&mn=1&dy=0&i=p17993434660&a=82315405&r=8692.png

http://stockcharts.com/c-sc/sc?s=$OEX&p=W&yr=10&mn=0&dy=0&i=p91399792507&a=83876953&r=1076.png

http://stockcharts.com/c-sc/sc?s=$OEX&p=W&yr=9&mn=0&dy=0&i=p89653855509&a=81097608&r=3395.png

[Cirrus]

This is a pretty big sell program and it looks futures driven IMO given breadth.

[greenie]

nice work EM (Oops Tp) !! Very instructive.

[IndexTrader]

What do you mean you're bullish as hell? Why would you be bullish with a large correction coming, if it in fact does? What am I missing here? IT

[spielchekr]

Me bullish too, post-correction that is.

[greenie]

What do you mean you're bullish as hell? Why would you be bullish with a large correction coming, if it in fact does? What am I missing here?

IT

bullish in puts.

[eminimee]

If you look at the middle chart you'll know what I mean.....I guess I was too subtle in my title...I figured that if anyone looked at the charts they would "get it"....of course I'm bearish ...why would I be buying puts......but I'm very bullish if a successful test of the 615 area happens.

[IndexTrader]

If you look at the middle chart you'll know what I mean.....I guess I was too subtle in my title...I figured that if anyone looked at the charts they would "get it"....of course I'm bearish ...why would I be buying puts......but I'm very bullish if a successful test of the 615 area happens.

You change your opinions fairly rapidly. Yesterday you were expecting a coming "5th". Today you're expecting a correction. Throw in the bullish subtitle and it was enough to confuse. Sorry about that.

IT

[eminimee]

I'm still thinking we can do a 5th.....it's the Fed that has me leaning towards a top there or a few day later....Yes, I'm expecting that big correction but trading short term as I have....I've always kept the door open for a higher high 5th....so when you say I'm changing my mind....I'm not....I'm trading short term in both directions....so that statement was a little unfair.

surprisingly VXO has only popped from 10 to 10.76

re NQ:
I keep leaning towards a top with the FED or soon after...
ES on that 5 min. looks similar to this ....maybe ES has just made at wave 2 low noted on here



Click Here to see Full Sized Image

INDU pattern would fit nicely too......but if it worked out that way....spx may ZZ down to the 1421/22 area before the final 5th of ED.



Click Here to see Full Sized Image

Edited by Teaparty, 18 January 2007 - 11:09 AM.

[eminimee]

If a top is in on OEX ..we must get a daily close south of 659