4 replies to this topic

[TechMan]

Barring unforeseen BIG surprises, e.g. Casey Anthony pleading guilty, in the final 90 minutes of trading, I've got a confirmed IT BUY signal. It's taking me 5 trading sessions to have the confirmation, which is a couple of days longer than my usual "timetable". But, recent Euro-centric event had been wreaking havoc.

Since I've been pounding the table for more than a week , there's not much left unsaid.

==========
6/16/2011 - VST Bottom
http://www.traders-t...howtopic=131754

6/20/2011 - Upgrade to ST BUY
http://www.traders-t...howtopic=131836
===========

However, since today's low so far is once again 1267, I'll add this to the table below.

6-13 low = 1265
6-15 close = 1265
6-16 open = 1265; close = 1267
6-17 low = 1267
6-20 low = 1267
6-24 low = 1267
6-27 low = 1267

Edited by TechMan, 27 June 2011 - 01:47 PM.

[Islander]

Today may be an IBD follow thru day based on last up day. The volume is not what is required yet, and has low probability of increasing sufficiently in this session. Glad to have your comformation of IT. Best, Islander

[TechMan]

Today may be an IBD follow thru day based on last up day. The volume is not what is required yet, and has low probability of increasing sufficiently in this session.

Glad to have your comformation of IT.

Best, Islander

Actually, that's the way it's supposed to be for today. It'd be bearish for this contrarian had we had a big spike in volume today. And, the selling, i.e. profit taking, in the final 30 minutes fit the profile quite nicely. That too was the way it's supposed to be. Once it becomes too obvious, it's over and done with.

Everything we see hides another thing....

Overall, it's an O.K. rally - pretty close to what I had anticipated.

[IndexTrader]

What time period is an "IT" signal to you?

[TechMan]

What time period is an "IT" signal to you?

One week, which will take us through July 5. After that, it's a LT BUY or the next SELL signal, whichever comes first.

Edited by TechMan, 27 June 2011 - 10:12 PM.