I'm inclined to buy weakness Friday
#1
Posted 25 January 2007 - 10:38 PM
Sentimentrader.com shows a big bearish jump S/T.
During the past year, a one day jump to this level has usually resulted in an up move the next day in SPX.
We saw a similar jump following the April 7,May 13, Nov. 27, and Dec 18th declines which resulted in positive following days.
One very similar pattern which failed was following the June 6th selling but this was following an extremely bullish reading June 3rd.
Several of these opened near flat but had long tails before closing up.
Most moved about 10 points total, bottom to top.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#2
Posted 25 January 2007 - 10:44 PM
FYI:
Sentimentrader.com shows a big bearish jump S/T.
During the past year, a one day jump to this level has usually resulted in an up move the next day in SPX.
We saw a similar jump following the April 7,May 13, Nov. 27, and Dec 18th declines which resulted in positive following days.
One very similar pattern which failed was following the June 6th selling but this was following an extremely bullish reading June 3rd.
Several of these opened near flat but had long tails before closing up.
Most moved about 10 points total, bottom to top.
The man who runs that website says he's more inclined to sell the pop on any rallies coming out from this oversold condition. For what its worth.
#3
Posted 25 January 2007 - 10:46 PM
Edited by Rogerdodger, 25 January 2007 - 10:56 PM.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#4
Posted 25 January 2007 - 11:22 PM
I should have said they could be one day wonders.
So it would be only a trade most likely.
Not a lot of fully shorts here at TT.
Just a small observation: The low VIX is indicative of the extremely low volatilty we've had for a LONG time. As such, traders are rusty on their volatilty... the recent zig zagging may take some getting used to, and so we are seeing edgy traders, not fully committed traders one way or the other.... (fwiw)
mm
#5
Posted 26 January 2007 - 07:53 AM
http://stockcharts.com/c-sc/sc?s=$OEX&p=60&yr=0&mn=2&dy=8&i=p67438202531&a=96036193&r=6539.png
#6
Posted 26 January 2007 - 09:27 AM
#7
Posted 26 January 2007 - 09:44 AM
Mark S Young
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