To me it looks like the market is busting loose to the upside.... Volume has increased and we are getting a run higher... I would not be an early bear and stand in front of the train.... We could have a large pullback here, but I would recommend waiting for the pullback.... Negative Divergences have disappeared.....
I'm out
Grrr.......
Market Busting Out
Started by
qqqqtrdr
, Mar 05 2010 07:59 PM
4 replies to this topic
#2
punter
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Posted 05 March 2010 - 08:08 PM
To me it looks like the market is busting loose to the upside.... Volume has increased and we are getting a run higher... I would not be an early bear and stand in front of the train.... We could have a large pullback here, but I would recommend waiting for the pullback.... Negative Divergences have disappeared.....
I'm out
Grrr.......
You are right. The Jan high will be taken out without a fight. The market will make new highs very soon. Bears will be runover by this train.
Keep Calm and be Long
My opinion on markets, or anything, is a health hazard. Follow or fade at your own risk!
#3
qqqqtrdr
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- Traders-Talk User
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Posted 05 March 2010 - 08:15 PM
To me it looks like the market is busting loose to the upside.... Volume has increased and we are getting a run higher... I would not be an early bear and stand in front of the train.... We could have a large pullback here, but I would recommend waiting for the pullback.... Negative Divergences have disappeared.....
I'm out
Grrr.......
You are right. The Jan high will be taken out without a fight. The market will make new highs very soon. Bears will be runover by this train.
$BDI has gone parabolic also... It is the strangest thing.. Usually you do not see this activity.. Remember the dollar is going up which should have a negative effect on $BDI. I'll explore what I will need to do this weekend... OEX Put/Call has been relatively low also...
Barry
#4
mcleert
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Posted 05 March 2010 - 11:11 PM
To me it looks like the market is busting loose to the upside.... Volume has increased and we are getting a run higher... I would not be an early bear and stand in front of the train.... We could have a large pullback here, but I would recommend waiting for the pullback.... Negative Divergences have disappeared.....
I'm out
Grrr.......
You are right. The Jan high will be taken out without a fight. The market will make new highs very soon. Bears will be runover by this train.
$BDI has gone parabolic also... It is the strangest thing.. Usually you do not see this activity.. Remember the dollar is going up which should have a negative effect on $BDI. I'll explore what I will need to do this weekend... OEX Put/Call has been relatively low also...
Barry
So I assume that you have only long positions and your wanting the market to go up is based on your
assumptions or indicators?
#5
qqqqtrdr
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- Traders-Talk User
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Member
Posted 06 March 2010 - 07:30 PM
To me it looks like the market is busting loose to the upside.... Volume has increased and we are getting a run higher... I would not be an early bear and stand in front of the train.... We could have a large pullback here, but I would recommend waiting for the pullback.... Negative Divergences have disappeared.....
I'm out
Grrr.......
You are right. The Jan high will be taken out without a fight. The market will make new highs very soon. Bears will be runover by this train.
$BDI has gone parabolic also... It is the strangest thing.. Usually you do not see this activity.. Remember the dollar is going up which should have a negative effect on $BDI. I'll explore what I will need to do this weekend... OEX Put/Call has been relatively low also...
Barry
So I assume that you have only long positions and your wanting the market to go up is based on your
assumptions or indicators?
I'm currently in cash now... It is too late to go long... I will at least wait until the 2-day RSI on S&P goes lower and McClellan drops off to 100.. The market is overbought here, so we could have a minor pull-back, but since we broke out of resistance on heavy volume we would likely go higher for at least the next two trading days...
