Something Fishy with the Market

Now one needs to be concerned about the OpEx week.

Edited by redfoliage2, 10 April 2008 - 01:37 PM.

what do you mean "fishy?" Are you expecting OPEX to be down now? Thanks

Short ES @ 1366, risky trade for 4-8 hours, target 1342-1344, I'd like to see the 50 dma recently taken tested from top before take off toward 1400. Stop 1368. Certainly the leadership is changing favorably for the upside, but I just did not think this is a strong advance for the day, further advance in the days ahead would be a terminal above 1390-1400s for a pretty severe drop to retest the lows, but probably into May due to the speculative positions building above 1400. I think a quick push lower from here will have quite a few bulls disgusted and give up, then they can rally it up next week easier...

Short ES @ 1366, risky trade for 4-8 hours, target 1342-1344, I'd like to see the 50 dma recently taken tested from top before take off toward 1400. Stop 1368. Certainly the leadership is changing favorably for the upside, but I just did not think this is a strong advance for the day, further advance in the days ahead would be a terminal above 1390-1400s for a pretty severe drop to retest the lows, but probably into May due to the speculative positions building above 1400. I think a quick push lower from here will have quite a few bulls disgusted and give up, then they can rally it up next week easier...

I was thinking that a move down right now could be very bullish also. It might fuel a move to the downtrend line above 1400.

what do you mean "fishy?" Are you expecting OPEX to be down now? Thanks

I meant it's suspicious the way it's pushed up and down. if we are up strong today and tomorrow, I'd sell with both hands for a down week next week..

not fishy...its in the upper end of a stubborn range, and backing and filling as it tries to deal with resistance...

I'd like to see it close below 1358.5, otherwise I will book half of my profits...

Edited by arbman, 10 April 2008 - 02:45 PM.

not fishy...its in the upper end of a stubborn range, and backing and filling as it tries to deal with resistance...

Agreed.

I think that fishy smell you're smelling is the little perch IYB views things from.

Today, 12:31 PM Post #1


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Group: Traders-Talk User
Posts: 3739
Joined: 11-September 03
From: Hawaii Kai, Honolulu, Hawaii
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Just in case I wasn't clear yesterday, the Sentinels were indicating new highs for this move lie ahead, BUT this is where I watch the momentum indicators very carefully for signs that momentum is dropping off and thus the uptrend is coming to an end. IF we see negative divergences on the mo readings when prices reach new highs ahead, then any subsequent SS sell signal will be actionable. If, OTOH, this price push gives us some new mo highs, then this indicates that the top is STILL not in view. I remain long.

Just how I view things from my little perch, fwiw.....Best, D

I have to admit I didn't know there was Perch in Hawaii.

Edited by milbank, 10 April 2008 - 03:26 PM.

not fishy...its in the upper end of a stubborn range, and backing and filling as it tries to deal with resistance...

Agreed.

I think that fishy smell you're smelling is the little perch IYB views things from.

Today, 12:31 PM Post #1


Member


Group: Traders-Talk User
Posts: 3739
Joined: 11-September 03
From: Hawaii Kai, Honolulu, Hawaii
Member No.: 60



Just in case I wasn't clear yesterday, the Sentinels were indicating new highs for this move lie ahead, BUT this is where I watch the momentum indicators very carefully for signs that momentum is dropping off and thus the uptrend is coming to an end. IF we see negative divergences on the mo readings when prices reach new highs ahead, then any subsequent SS sell signal will be actionable. If, OTOH, this price push gives us some new mo highs, then this indicates that the top is STILL not in view. I remain long.

Just how I view things from my little perch, fwiw.....Best, D

I have to admit I didn't know there was Perch in Hawaii.

Actually I'm fishing for humuhumunukunukuapua'a.

Which one is it?