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Gut feeling S&P low for today is in
Started by
jdjimenez
, May 08 2008 10:57 AM
14 replies to this topic
#2
SemiBizz
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Volume Dynamics Specialist
Posted 08 May 2008 - 11:17 AM
Go LONG PG then !!
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
SemiBizz
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Posted 08 May 2008 - 11:19 AM
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
SemiBizz
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- Traders-Talk User
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Posted 08 May 2008 - 11:43 AM
You think your gut feels queasy short S&P... just think about those poor oil shorties.. they just had liquidity yanked here and they are putting it to them !
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#5
selecto
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Posted 08 May 2008 - 11:44 AM
On the 1 minute there is a falling 200, 20, 17 ema, and 5.
Not low stuff just quite yet
#6
denleo
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Posted 08 May 2008 - 11:50 AM
Who in the right state of mind would short Crude Oil? Why would anyone go against the government policy?
Denleo
#7
beta
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lasergirl
Posted 08 May 2008 - 12:05 PM
You think your gut feels queasy short S&P... just think about those poor oil shorties.. they just had liquidity yanked here and they are putting it to them !
No mo-mo. Sure wouldnt want to be long here.
http://stockcharts.c...4497&r=3907.png
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#8
mdwllc
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Posted 08 May 2008 - 12:05 PM
Who in the right state of mind would short Crude Oil? Why would anyone go against the government policy?
Denleo
Dennis: I guess I'm one of those anti-government guys! I have a position in DUG and am suffering about 0.50% draw down. I believe that we are in the ‘frenzied’ period of the this parabolic up thrust and it will end very soon. [I'm not an EWaver, but I think we're completing a Wave 5]. For example, the petroleum inventory figures announced yesterday were negative or bearish, but speculators forced a new price high to occur based on the Goldman Sachs analyst indicating that crude will rise to $150-200 barrel within the next 12 to 24 months.
From a date perspective, the major turning points are 5/19 and 6/2. My present working hypothesis is that 5/19 will be a high and 6/2 an interim low. [I don’t plan to list all the turning dates at this time]. I looked at the performance of other commodities that have been through similar parabolic moves the last year. The table below indicates the price decline experienced by those commodities just since 17 Mar 2008:
Commodity % Decline 3/17-5/5
Wheat 33
Silver 19
Coffee 14
Sugar 22
Gold 25
While Crude will develop its own decline parameters, the above illustrate the type one can expect. I have targets mentioned in the last analysis will still be met….and within the next year. Best....MDW
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Be Sure to Perform Your Own Due Diligence
Be Sure to Perform Your Own Due Diligence
#9
redfoliage2
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Posted 08 May 2008 - 12:19 PM
With some shorts covered early this is going to be interesting for a while. 
#10
denleo
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Posted 08 May 2008 - 12:32 PM
Crude Oil will top when the market decides that the United States' policy in the middle east is about to change. It could be tomorrow or it could be 6 months from now.
I agree that oil at 120 is idiotic. "Peak oil" theory will be forgotten next year just like theories of "new economy" in 2000 or "houses can never lose value" in 2007.
Denleo
