So much excitement.

Surprized. One little bounce after 8 days of freefall and everyone immidiately flipped long and a lot of people are already expecting new highs. Not so fast, folks. This market has a lot of work to do to turn into uptrend. So far this is a confirmed downtrend. For Pete's sake, the DOW broke the August lows today and no one even acknowleding it. What new higs are we talking about here ?

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Surprized. One little bounce after 8 days of freefall and everyone immidiately flipped long and a lot of people are already expecting new highs.

Not so fast, folks. This market has a lot of work to do to turn into uptrend.

So far this is a confirmed downtrend.

For Pete's sake, the DOW broke the August lows today and no one even acknowleding it. What new higs are we talking about here ?

No new highs. That woulld be too much...let's look for a tradable bounce towards the upper channel line. I'll call my longs quits there. already in place. I agree, i think the 5 is in place and we're working on a C. The volitility just isnt there to support a long term bottom. i'll play a bounce though...no shame in that. -TA

Simple thing. CBOE 10 day EPC. Hasn't even reached the levels of previous bottoms.

Edited by ogm, 09 January 2008 - 09:29 PM.

Surprized. One little bounce after 8 days of freefall and everyone immidiately flipped long and a lot of people are already expecting new highs.

Not so fast, folks. This market has a lot of work to do to turn into uptrend.

So far this is a confirmed downtrend.

For Pete's sake, the DOW broke the August lows today and no one even acknowleding it. What new higs are we talking about here ?

No new highs. That woulld be too much...let's look for a tradable bounce towards the upper channel line. I'll call my longs quits there. already in place. I agree, i think the 5 is in place and we're working on a C. The volitility just isnt there to support a long term bottom. i'll play a bounce though...no shame in that. -TA

It's the only way to play. For all the razzmataz about a "CRASH," the S&P has been in the same, stagnant channel since the Ides of March with the peak in October. We popped below it briefly yesterday but today we went right back in.

Edited by milbank, 09 January 2008 - 09:43 PM.

If its a good bottom, we'll go near the lows again and thrash around a bit, perhaps making lower lows. If its a bear market rally, it will only last a week or so and just go straight up before burning itself out. I'm thinking the latter. If the market dumps after Bernanke then we'll know this was just a pitstop.

If its a good bottom, we'll go near the lows again and thrash around a bit, perhaps making lower lows.

If its a bear market rally, it will only last a week or so and just go straight up before burning itself out.

I'm thinking the latter.

If the market dumps after Bernanke then we'll know this was just a pitstop.

I'm hesitant to think we'll just keep rallying into Fed meetings like an obediant dog looking for a cheap money treat. On the other hand I'm also hesitant to think we'll keep collapsing in the aftermath of those cuts.

This is bizzaro world. Libor has stabalized and stocks haven't even come close to their levels of 5 quarters ago yet the Fed acts like it's 1933. All with food, energy and most everything else on all time highs. Against this backdrop rates near multi decade lows. Truth be known: Bond traders are much more yield whores than inflation hawks. If the Fed keeps cutting, bonds will keep rallying no matter what the inflation forecast says.

I'm hesitant to think we'll just keep rallying into Fed meetings like an obediant dog looking for a cheap money treat. On the other hand I'm also hesitant to think we'll keep collapsing in the aftermath of those cuts.

This is bizzaro world. Libor has stabalized and stocks haven't even come close to their levels of 5 quarters ago yet the Fed acts like it's 1933. All with food, energy and most everything else on all time highs. Against this backdrop rates near multi decade lows. Truth be known: Bond traders are much more yield whores than inflation hawks. If the Fed keeps cutting, bonds will keep rallying no matter what the inflation forecast says.

Good to see you.

On the contrary, Markets were selling off like hell.

As shown on the link that I expressed how markets were selling off methodically.
Market level is just a dress up.

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Date:1/9/2008 11:52:28 AM
Post #of 5349

Just take a look $SOX and $BKX, the evil greed were selling for years underneath. The evil greed was planning this from the beginning as we can see on $SOX ratio chart. They were whip-whip and chop-chop stocks from the beginning of this cycle. For that matter, bubbling and bursting of R.E. market as well with blue prints where to start and to end as it can be seen the price break out and the targeted peak point before the fall of the R.E. prices.

Edited by Trend-Signals, 09 January 2008 - 09:56 PM.

Surprized. One little bounce after 8 days of freefall and everyone immidiately flipped long and a lot of people are already expecting new highs.

Yes, that's what make me shock too. after one day rally, some people already expecting a 400+ NAZ gain. whom did not call for new highs are calling for a IT (fews month) bottom. let see what happen after tomorrow's unemployment number.

Surprized. One little bounce after 8 days of freefall and everyone immidiately flipped long and a lot of people are already expecting new highs.

Not so fast, folks. This market has a lot of work to do to turn into uptrend.

So far this is a confirmed downtrend.

For Pete's sake, the DOW broke the August lows today and no one even acknowleding it. What new higs are we talking about here ?

I hear ya. I got 50 stocks in radarscreen and less than 10 are worth a buy. It's a complete opposite of last year's September and October. We are not even close to an IT trend change. At best we churn here so whip out your counter-trend systems and buy low and sell high.