Nasdaq volume summation turning up. RUT strong.

Nasdaq volume summation turning up before A/D summation today. This is very good sign. Overall market looks much stronger. Pessimists are getting screwed. Higher low in place on 60 min charts. RUT looks to be the first to make higher high. Sentiment.. well, nothing to say here. Pessimism is RAGING. CBOE EPC 1+ again. AAII, Investor Intel, every single poll. Every commentator on CNBC.. basicaly you name it. Horrendous sentiment. If you pessimists want to short something, I'd be lookng towards 2 year notes. I'm short a boatload of those and long banks and financials.

watch out for 1325 ES june EDIT...this board is getting REALLY frustrating at time like this....VERY slow Hit 1325 and stall....opens the door to new lows

Edited by Teaparty, 13 March 2008 - 01:16 PM.

watch out for 1325 ES june
EDIT...this board is getting REALLY frustrating at time like this....VERY slow
Hit 1325 and stall....opens the door to new lows

I'm watching an inverse H&S on QQQQ/NDX 60 min charts. Much more interesting With volume summation turning up this can blast tomorrow like you wound't beleive.

Edited by ogm, 13 March 2008 - 01:17 PM.

with ya OGM...lots of positive things going on...most basic, the 11,600-900 is providing huge support so far...homebuilders, airlines, solar, and financials to add a few bull reversals today...if I had to guess, mkt starts turning and gold/oil corrects.

OGM, Bearishness is not same as pessimism. Bullishness is not same as optimism. I am optimistic about the dark side of this market. But i can also pessimistically play the rallies, when i get setups like the ones today morning. That said i am optimistically looking for the next short, if the right setup comes by again, while i neutrally watch the market at this point.

Edited by NAV, 13 March 2008 - 01:24 PM.

There are a lot of broke bottom pickers. Jus' Sayin'

OGM,

Bearishness is not same as pessimism. Bullishness is not same as optimism. I am optimistic about the dark side of this market. But i can also pessimistically play the rallies, when i get setups like the ones today morning. That said i am optimistically looking for the next short, if the right setup comes by again, while i neutrally watch the market at this point.

So you're treating upward market moves with pessimism.... So you're a pessimist

OGM,

Bearishness is not same as pessimism. Bullishness is not same as optimism. I am optimistic about the dark side of this market. But i can also pessimistically play the rallies, when i get setups like the ones today morning. That said i am optimistically looking for the next short, if the right setup comes by again, while i neutrally watch the market at this point.

So you're treating upward market moves with pessimism.... So you're a pessimist

Yes i am, cuz the trend is down.

Now let's not get emotional about all these 20-30 point swings. They are meaningles in the IT picture. It feels like we are going to the moon when the market makes a swift move like this. It also seems like we going into the black hole when it opens like it did in the morning. Unless you maintain your cool and being opportunistic (as opposed to being optimistic or pessimistic), it's hard to make money in this volatile enviroment. I am not vacillating here. I am very bearish. But i showed a bullish setup in the morning and played it. When the daily trend turns up, it will be amply evident. That's when i will turn bullish. We are not there. Not even close to it. The risk here is one of losing your shirt, if the market plunges and this market is nervous and very vulnerable.

That said, i am looking for the next short, which may come up in the next 15-30 minutes.

Good luck.

There are a lot of broke bottom pickers.

Jus' Sayin'

Not if they buy at support and use stops.

OGM,

Bearishness is not same as pessimism. Bullishness is not same as optimism. I am optimistic about the dark side of this market. But i can also pessimistically play the rallies, when i get setups like the ones today morning. That said i am optimistically looking for the next short, if the right setup comes by again, while i neutrally watch the market at this point.

So you're treating upward market moves with pessimism.... So you're a pessimist

Yes i am, cuz the trend is down.

Now let's not get emotional about all these 20-30 point swings. They are meaningles in the IT picture.

Actually they are not meaningless. The are a part of a bottom building process.

And speaking of IT picture.... Weekly charts are the key here, IMO. They are way overdue. Sentiment is ripe too.

Edited by ogm, 13 March 2008 - 02:17 PM.