Jump to content



Photo

Looking Grim


  • Please log in to reply
7 replies to this topic

#1 U.F.O.

U.F.O.

    U.F.O.

  • TT Patron+
  • 5,605 posts

Posted 22 January 2007 - 10:06 PM

I'm still long and so far...wrong. The only thing I'm watching now is the QQQQ 50day ema for a bail point. Holding so far. (2 charts)

U.F.O.

Posted Image

Posted Image
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~

#2 dcengr

dcengr

    Member

  • Traders-Talk User
  • 13,391 posts

Posted 22 January 2007 - 10:12 PM

History shows that odds are 70% in your favor that a bounce occurs with higher prices within a few days... Using the RSI5 method. The other 30% of the time, you got your @ss handed to you as it marked the IT top turns. So.. good news, bad news :lol:

Edited by dcengr, 22 January 2007 - 10:13 PM.

Qui custodiet ipsos custodes?

#3 U.F.O.

U.F.O.

    U.F.O.

  • TT Patron+
  • 5,605 posts

Posted 22 January 2007 - 10:21 PM

I like your odds dcengr. Having my [bleeep] handed to me by the market beats me having to personally rip it off. :blink: LOL! U.F.O.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~

#4 dcengr

dcengr

    Member

  • Traders-Talk User
  • 13,391 posts

Posted 22 January 2007 - 10:27 PM

I like your odds dcengr. Having my [bleeep] handed to me by the market beats me having to personally rip it off. :blink: LOL!

U.F.O.


Posted Image
Qui custodiet ipsos custodes?

#5 vitaminm

vitaminm

    Member

  • Traders-Talk User
  • 6,701 posts

Posted 22 January 2007 - 10:32 PM

QQQQ/NDX/VXN/QQV

http://finance.yahoo...Q ^ND...0&a=&c=

Edited by vitaminm, 22 January 2007 - 10:35 PM.

vitaminm

#6 selecto

selecto

    Member

  • Traders-Talk User
  • 6,871 posts

Posted 22 January 2007 - 10:32 PM

I think you could be in the last chance hotel. :huh: [attachment=5200:attachment]

#7 U.F.O.

U.F.O.

    U.F.O.

  • TT Patron+
  • 5,605 posts

Posted 22 January 2007 - 10:49 PM

Might be selecto. One last nail I'm hanging my hat on is Bollingers. I've rarely ever seen a primary trend reverse without a Bollinger squeeze at the outset. This "correction", as I'll call it for now, is actually happening during a moderate Bollinger expansion, which is a blatant signal that the primary trend is still in play. If this observation is correct, look for a moderate bounce, maybe off the 50day ema, and sideways price movement to create a "squeeze". It could go either direction at that point. The market is rapidly becoming oversold and without the "coiling" action visible in the Bollingers, by a squeeze,....shouldn't go down much more from here. (1 chart)

U.F.O.

Posted Image

Edited by U.F.O., 22 January 2007 - 10:51 PM.

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~

#8 eminimee

eminimee

    I don't care who's fur is flying...

  • TT Member
  • 14,307 posts

Posted 23 January 2007 - 06:30 AM

Nothing to really do with short term trading but be aware of an important parallel line of support that if broken...we should swoon. Next stop after that should be the 40 ema, 55 ema and then the TL up off the Oct. 2003 low for a bottom late March/early April. No doubt that TL must hold near 1600. Also the .618 retrace of the move from July last year. 2 charts

http://stockcharts.com/c-sc/sc?s=$NDX&p=W&yr=6&mn=1&dy=0&i=p33722548789&a=80889979&r=2072.png

http://stockcharts.com/c-sc/sc?s=$NDX&p=D&yr=1&mn=2&dy=0&i=p73311393009&a=79222312&r=6114.png

Edited by Teaparty, 23 January 2007 - 06:31 AM.