Di Secting the Market

I'll go back to wednesdays close which gave us.... Stocks above the 200e SPX 20%...NDX 14% Stocks above the 50e Spx 19%...NDX 12% Stocks above the 20e SPX 10%...NDX 9% These are absolute BUY signals with the market washed out. An F'in no brainer! These are the times you must turn off the sound while watching CNBS and look at Volume...ie. XLF(Financials) doing 750 million shares and hitting its July lows around 17.20! Friday opening was 24.50 the 200 Day! THIS IS HOW YOU MAKE MONEY. Opinions don't matter. Money talks and this volume is the language of the Market. Massive record volumes all week of 9 to 10 billion shares. Blooood in the Street and main street too, lining up to take money out of banks and brokerage money market accounts. With ABC,NBC,CBS lead national stories. I believed that the low was Tues Wed area. A-ha had better timing and NAILED the Thur bottom! Congrats tooo you my friend. We can talk about the politics of all this till kingdom come, but the truth is.. it's about money. And money was made this week in boatloads if you knew how to read the market. No one can pick the exact bottom to the hour(except A-Ha) but if you looked at the internals of Volume and Breath you can do extremely well. When all around you are losing their heads, these are the times that present the most opportunity. Good trading to all of US.

Edited by mogreen, 20 September 2008 - 09:45 AM.

on the subject of internals, my Friday's update at the bottom of this thread is of interest and relates to your points

scroll to end for Friday's update

http://www.websiteto...post?id=2978437

XLF needs to hold the $22.23 major horizontal as support...if 22.23 becomes resistance again, that will be a clue this initial move is a fakeout

the $22.68 horizontal on this XLF chart is derived from price activity going back to 1999, and has been a problem for XLF to overcome in the prior move up

http://stockcharts.c...id=p30245997344

good weekend to all.

Edited by hiker, 20 September 2008 - 10:00 AM.

The upside and downside to the market is limited now...i believe the market trades in a range here till the Election. Xlf trades 20 to 24 for some time to come. Earnings out in October will be poor for financials. I'll be long stocks and short call options 2 to 1. to protect positions. These are my stocks(i trade 50 of them, all industries)This is my market that i thrive in. Its not about being bullish or bearish in a range bound market, but trading around the edges. Thanks Hiker for your input. I always respect your insights and tech work!

Edited by mogreen, 20 September 2008 - 10:10 AM.

I'll go back to wednesdays close which gave us....

Stocks above the 200e SPX 20%...NDX 14%
Stocks above the 50e Spx 19%...NDX 12%
Stocks above the 20e SPX 10%...NDX 9%

These are absolute BUY signals with the market washed out. An F'in no brainer!
These are the times you must turn off the sound while watching CNBS and look at Volume...ie. XLF(Financials) doing 750 million shares and hitting its July lows around 17.20! Friday opening was 24.50 the 200 Day! THIS IS HOW YOU MAKE MONEY. Opinions don't matter. Money talks and this volume is the language of the Market.

Massive record volumes all week of 9 to 10 billion shares.
Blooood in the Street and main street too, lining up to take money out of banks and brokerage money market accounts. With ABC,NBC,CBS lead national stories.

I believed that the low was Tues Wed area. A-ha had better timing and NAILED the Thur bottom! Congrats tooo you my friend.

We can talk about the politics of all this till kingdom come, but the truth is.. it's about money. And money was made this week in boatloads if you knew how to read the market. No one can pick the exact bottom to the hour(except A-Ha) but if you looked at the internals of Volume and Breath you can do extremely well.

When all around you are losing their heads, these are the times that present the most opportunity.
Good trading to all of US.

Far better post than you had been doing mo. That's the way to do it. now just post when you do something not after