a GREAT day for the bull case!

* ms. market tricked both sides throughout the day, but in the end she gave the treat to the bulls with a nice GREEN close. * for two days in a row we have had a much quieter market. the paroxysms appear to be over: that will bring players back in. * a plus close going into a weekend before a very stressful election is a positive tape sign. * it tried to sell-off hard in the final hour but failed to close red. a failed last hour sell-off is a bullish tape action sign. conclusion: next week we start higher and go higher! comments?

Edited by humble1, 31 October 2008 - 03:14 PM.

Solid as a rock. My stocks are climbing. Pretty much, all stocks are. I guess the slow climb up will discourage buyers and encourage sellers from here. It will jump up huge at some point. Perhaps as longs can't take it anymore and sell for a profit. Only to find they made a mistake. Cheap shares no more.

Yep.... I learned my lesson in the bottom on 2002.... A market that climbs slowly with good breadth you don't want to buy and go long. I have a rule for the QQQQ's. If the QQQQ increases by more than 2%, NASDAQ should have at least 65% of stocks rising. If not, consider selling and going short at that juncture...... It doesn't catch all tops, but it catches some. Barry

Solid as a rock. My stocks are climbing. Pretty much, all stocks are. I guess the slow climb up will discourage buyers and encourage sellers from here. It will jump up huge at some point. Perhaps as longs can't take it anymore and sell for a profit. Only to find they made a mistake. Cheap shares no more.

It looks a lot better. I'm shorting Monday though. Just looking for a small move. My
IT stuff is still bearish. I'm amazed by that since we've gone down so much.

D

"next week we start higher and go higher!"

what of reliable predictive value says this is the probability? price and other data has been here before -

http://forums.techni...post?id=3076360

Edited by hiker, 31 October 2008 - 03:46 PM.

"next week we start higher and go higher!"

what of reliable predictive value says this is the probability? price and other data has been here before -

http://forums.techni...post?id=3076360

On the weekly charts of NASDAQ, SPX, and RUT we have bullish engulfing candlesticks on the weekly charts. The larger the candlestick the higher the probablity. Since Bullish engulfing, is generally higher prediction on average 70% relability, with such a large sell off and such large bodies on the candlesticks, I would say the probability is closer to 80% that we will be higher 2 weeks from now based upon Candlesticks alone.

I have a variety of other charts that point to increased upside, so I feel my charts are giving me a 85% probability of more upside next week. This is nice, since most of the time charts only give 3 to 2 odds of predictability one way or another....

Barry

thanks, Barry for your read.

Solid as a rock. My stocks are climbing. Pretty much, all stocks are. I guess the slow climb up will discourage buyers and encourage sellers from here. It will jump up huge at some point. Perhaps as longs can't take it anymore and sell for a profit. Only to find they made a mistake. Cheap shares no more.

It looks a lot better. I'm shorting Monday though. Just looking for a small move. My
IT stuff is still bearish. I'm amazed by that since we've gone down so much.

D

I'll wait for your next "dow theory buy signal"....

Dow Theory buy 10-08-08. 2 days early. Jeeze, can't these guys get
anything right?

Schannap

Dow Theory buy 10-08-08. 2 days early. Jeeze, can't these guys get
anything right?

Schannap

no...somewhere around here...Dantheman had a dow theory buy...and his system is never wrong..


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