Jump to content



Photo

Disbelief


  • Please log in to reply
4 replies to this topic

#1 maineman

maineman

    maineman

  • Traders-Talk User
  • 1,987 posts

Posted 24 January 2007 - 11:09 AM

four out of the five stock market related posts I've read here this morning since the opening bell have been bearish, or at least "doubting" of any advance... "Gap and Crap", "Low breadth", etc. etc. Meanwhile, price is king, and "the boys" appear to have a lot of energy to push the market up. I still believe we are skating on thinner ice all the time, too, but short term, the rebound rules. mm
He who laughs laughs laughs laughs.

My Blog -Maineman Market Advice

#2 arbman

arbman

    Quant

  • Traders-Talk User
  • 19,504 posts

Posted 24 January 2007 - 11:49 AM

For the short term, with the equity P/C so high again (> 0.7), there is definitely more upside, SPX 1450-1460 is still my ST target over the next few wks...

#3 eminimee

eminimee

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

  • TT Member
  • 14,307 posts

Posted 24 January 2007 - 11:50 AM

I think time frame is important to remember at this juncture.....I for one have been building an OEX put position over the past 8 trading days but continue to scalp both ways on the futures. It's possible those going short today have a swing trade in mind and not concerned with what is possibly a last gasp move...at least not concerned yet. ggg ie: IndexTrader with a wide stop, I believe that will work out well. I've given my stop based on OEX too many times to mention. lol

#4 maineman

maineman

    maineman

  • Traders-Talk User
  • 1,987 posts

Posted 24 January 2007 - 12:01 PM

Agree 100%. But for now I am being a little more "careful" building a short position.... mm
He who laughs laughs laughs laughs.

My Blog -Maineman Market Advice

#5 Wallcrawler

Wallcrawler

    Member

  • Traders-Talk User
  • 1,685 posts

Posted 24 January 2007 - 12:31 PM

four out of the five stock market related posts I've read here this morning since the opening bell have been bearish, or at least "doubting" of any advance... "Gap and Crap", "Low breadth", etc. etc. Meanwhile, price is king, and "the boys" appear to have a lot of energy to push the market up. I still believe we are skating on thinner ice all the time, too, but short term, the rebound rules.

mm


Yep agree!!!!!!... But as you said caution is needed. I want to short thing like everyone else it seems... but hey.... WC
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous