9 replies to this topic

[denleo]

I think it is about time everyone realized that morning selling or down gaps don't produce desired results for bears. So, Monday we should have a good rally. Dow will lead. I bought S&P for a trade at 1454.50 (futures). It may not go too far, but one good up day is right ahead of us. Denleo

[wallofworry]

I expect a huge decline from the go on Monday with very little room to get in.

[.Blizzard]

Yes, after new lows we rally

[SemiBizz]

Lower lows on more volume... quality of volume down... 12563 support on DJIA. Should get a bounce there.

[eminimee]

should hit the low late Monday or Tues. morning
http://stockcharts.com/c-sc/sc?s=$OEX...8538&r=4588

[qqqqtrdr]

We did not get the desired results today being bearish. CBOE Put/Call was around 1.40 and 10-day CBOE Put/Call was over 1. The results over the last couple of weeks and the overbought signals of the last couple of days have come back to Neutral. I do hope Monday is lower. I'm planning on going long at the end of the day on Monday. I believe we are going to be in the position of a short covering rally.... Barry

[arbman]

I believe we are going to be in the position of a short covering rally....

It actually depends who's been selling short this week...

[Frac_Man]

hmmmmm, I don't have a buy signal yet !


Hank

I think it is about time everyone realized that morning selling or down gaps don't produce desired results for bears. So, Monday we should have a good rally. Dow will lead. I bought S&P for a trade at 1454.50 (futures). It may not go too far, but one good up day is right ahead of us.

Denleo

[Mr Dev]

I think it is about time everyone realized that morning selling or down gaps don't produce desired
results for bears. So, Monday we should have a good rally. Dow will lead.

Like some I also thought we would see some testing for a move to

the lows at the open however, I'm now starting to

re - think what I'll call the ultimate move to

catch traders off guard and get them excited enough to jump in. That would be a gap higher !

This would be perfect because we would see the CPC come down and reset, then if the Gap is to Crap, we

should see the CPC return back up above its climbing MA as it pushes it into a bearish momentum phase on the

chart. It seems likely because it is so close but I must admit it is awful soon. For those following a CPC chart

with a 21 MA and Bolli once the MA moves up above the upper Bolli,.... momentum kicks in.

Which would be followed by another down draft in prices. Again this focus is on the NDX and hopefully the

RUT will follow as I'm short both at Thursday's close.

We shall see soon.

Edited by Mr Dev, 24 February 2007 - 03:13 AM.

[Mr Dev]

Well scenario played out to a "t" ,,...anyone know what "t" they mean?

The high CPC under current conditions was bearish, however it did produce the Gap UP for those unsuspecting

neophytes. I'm sure there was plenty of excitement among the bullish types with FUTs so high before the

markets opened. I'm also pretty confident that some bullish type traders waited for the Gap to fill and bought

in. Meanwhile the CPC DID "reset" lower and it was then all down hill for the markets from there.

Now with the NDX and RUT DOWN -1.05 % near the Lows of Day we will likely see a sideways to up move.

However, this must be played with a bit more caution that most recent end of day trades esp if one is holding

over night. A likely scenario at this point is another GAP but to the downside and then, possibly a trade for a

bounce into the end of day. If such scenario is to come to play one would be wise to take any Long profits

quickly and reshort. Playing this way can produce an extra 2-3 percent for the Dynamic fund players but...

sometimes when we are this early in the move the timing for the gains may NOT equate to your trade time

available thru RYDEX.

At this time I'm undecided whether I will sit for the next two -three weeks or try to time an extra opportunity.

Best to all who play the game.