ndx finally makes it
#1
Posted 24 January 2007 - 11:05 AM
#2
#3
Posted 24 January 2007 - 11:22 AM
nothing is clear in the market, if it was we'd all be gazillionaires and if it was that clear why not bet the farm on it, i did'nt see you post a long trade and for the record i was looking for a retest of mondays high on monday's close.Somehow ??
There were very clear indications as of yesterday's close. Now what happens from here is another story.
#4
Posted 24 January 2007 - 11:27 AM
nothing is clear in the market
I agree. "Clear" is not the right word. But there were good indications. Even if it were clear, only a moron would bet the farm on it.
#5
Posted 24 January 2007 - 11:32 AM
#6
Posted 24 January 2007 - 11:44 AM
like TP said yesterday, i have my stop, once its hit i'm gone to trade for another day.Here's what's bugging me. I was expecting this bounce on Monday, but instead we took a surprising dip down first. But the conditions were still there for an exuberant bounce and now we are getting it. On disbelief, high TRIN and an overall high put call ratio. BUT!!! there's been another surge in DOW index calls, all sectors for the most part are participating, and this morning's high TRIN has been nudging lower. What's going to happen if/when the TRIN drops below 1.00 and keeps dropping?
It may be a bit too soon to "bet the farm" short.
Just some thoughts.
mm
#7
Posted 24 January 2007 - 11:48 AM
Here's what's bugging me. I was expecting this bounce on Monday, but instead we took a surprising dip down first. But the conditions were still there for an exuberant bounce and now we are getting it. On disbelief, high TRIN and an overall high put call ratio. BUT!!! there's been another surge in DOW index calls, all sectors for the most part are participating, and this morning's high TRIN has been nudging lower. What's going to happen if/when the TRIN drops below 1.00 and keeps dropping?
It may be a bit too soon to "bet the farm" short.
Just some thoughts.
mm
There's a lot of people that disbelieve this run up.. one solution to that is the market will accomodate them by dropping prices before another scorch up.
Thats the price pattern from jan 06 anyways. Probably lower prices within a day or two, build up even more shorts, then up we go.