4 replies to this topic

[A-ha]

that was the S&P and Dow double shorts breaking out ...


charts from yesterday

[eminimee]

I'm short but until 656 OEX is taken out south....I'm not waving the "top in" flag. In fact...I'm still of the opinion there is a 50-50 chance that one more new high is out there.

[dcengr]

I'm short but until 656 OEX is taken out south....I'm not waving the "top in" flag. In fact...I'm still of the opinion there is a 50-50 chance that one more new high is out there.

I tend to agree that we need to see a few more down days to cinch it. Good start so far though. Definately the risk to the longside is much higher than downside at this point.

So far, the FF polls are reflecting the dip buying mentality. I think the bulls are angry, and going to buy the dips all the way down.

Bulls... are you angry? or scared? Probably the former, so we'll have to wait til the latter to cover our shorts.

[slatedrake]

Yup. Right now OEX is hanging around the lower trend line of that ED you presented....

[OEXCHAOS]

So far, the FF polls are reflecting the dip buying mentality. I think the bulls are angry, and going to buy the dips all the way down.

D,

The polls are and have been showing a, "I'm not gonna get short this market, no way!" mentality. Even on an obviously bearish break.

Longer term, they've been saying this fairly consistently. That's a set up for a larger correction. We'll have to see.



Mark