10 replies to this topic

[U.F.O.]

I posted Monday night that one of my last reasons to stay long was the lack of a Bollinger "squeeze" on the then in play 5 day correction. Many posters here had already shorted the market and some were starting crash talk. I've rarely.....very rarely, ever seen a major correction in any market without a coiling "squeeze" in the price action prior to the event, evident for all to see in the Bollingers. It ain't happening. DE/AD's just crossed positive today. Bear trap just snapped. How fast can you cover? (2 charts)

U.F.O.

http://www.traders-t...showtopic=65407

Edited by U.F.O., 24 January 2007 - 09:14 PM.

[dcengr]

Sentiment getting real... whipsaw like. It usually gets like this at turning points. By the time its done, many will be left in tears.

[U.F.O.]

After today.....some already are. U.F.O.

[dcengr]

After today.....some already are.

U.F.O.

I'm getting some extreme sentiment readings.. going through blogs, and you got bears screaming bloody murder with break out posts all over the place.. then the bulls, they're like "to da moon" and jumping up and down.

I go through a bunch of blogs, trying to gauge some sentiment out of it, and today's been a real hum dinger for emotions, I tell ya.

Just the other day, low risk was reading bullish readings, then the market tanks.. then when everyone capitulates and starts to short, it turns around and screws the bears.

Have to see my odd-lot data today, but I think a whole lotta bulls jumped on the train today, which I haven't seen in a while.

[U.F.O.]

In trading ...the danger is in paying attention to too many different voices. The most important tool of all is price, and the indicators that track it. I love Mark (OEXCHAOS), but I don't base my trading decisions on sentiment. Human emotion is evident in price. That trumps all. U.F.O.

[dcengr]

In trading ...the danger is in paying attention to too many different voices. The most important tool of all is price, and the indicators that track it. I love Mark (OEXCHAOS), but I don't base my trading decisions on sentiment. Human emotion is evident in price. That trumps all.

U.F.O.

I like to think that price is a lagging indicator, and perhaps some of the other tools like sentiment, etc., are a leading indicator.

In that respect, ofcourse there will always be a wide spectrum of emotions. I don't have the kind of sentiment experience Mark has, but I do notice when something is "different in the air". There's something different in the air right now.. it is strong emotions cycling on both sides. Bulls and bears going through pain and delight within days of each other...

I'll note this in my blog and see if we can revisit this at a different time to see if it meant anything.

[U.F.O.]

dcengr, I'll give you the most important quote I've ever learned in 27 years of doing this. "Price trumps all." Unfortunately, I lost a lot of money before I believed it. Best. U.F.O.

[NAV]

In trading ...the danger is in paying attention to too many different voices. The most important tool of all is price, and the indicators that track it. I love Mark (OEXCHAOS), but I don't base my trading decisions on sentiment. Human emotion is evident in price. That trumps all.

U.F.O.

U.F.O,

I agree. Price itself encapsulates sentiment , among other things - If one knows how to read the price !

Edited by NAV, 24 January 2007 - 10:04 PM.

[U.F.O.]

If anyone here tracks Ichimoku charting, cloud cover support "bang", bounce, and a re-test of resistance and a possible buy signal. (1 chart)

U.F.O.

[U.F.O.]

10/4 NAV. And that's one of the hardest courses in the college. Best! U.F.O.