A case for the RUT top being in.
http://stockcharts.com/c-sc/sc?s=$RUT&p=60&yr=0&mn=4&dy=0&i=p35334628042&a=107282353&r=5007.png
RUT
Started by
eminimee
, May 25 2007 11:53 AM
5 replies to this topic
#1
eminimee
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I don't care who's fur is flying...
Posted 25 May 2007 - 11:53 AM
#2
eminimee
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- TT Member
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I don't care who's fur is flying...
#3
peregrine
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Posted 25 May 2007 - 01:07 PM
My general sense of the stock market is that we are in the process of putting in a wave 4 of some dimension in the blue chip DJIA, NYA, SPX as evidenced by a new bear flag formed by NYMO yesterday.
http://stockcharts.com/h-sc/ui
If the above is accurate, and the ensuing wave is a final 5th (up), then my expectation would be that the Qs, NDX and possibly the RUT would diverge negatively at the peak....making your counts a reality.
.
http://stockcharts.com/h-sc/ui
If the above is accurate, and the ensuing wave is a final 5th (up), then my expectation would be that the Qs, NDX and possibly the RUT would diverge negatively at the peak....making your counts a reality.
.
#4
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 25 May 2007 - 01:17 PM
peregrine: That's actually what I'm hoping for...but I'm getting the feeling it may not happen. Too early to say obviously....if spx does see another high....I'm of the impression it will be minuscule.
#6
thespookyone
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Posted 25 May 2007 - 05:28 PM
Hi Teaparty:
Agree, either the tops are in (I believe) or any new ones would be quite marginal. Exited my Q and SPX puts near the end of the day yesterday with some great profits-your help in pinpointing my inbound trigger point was invaluable, THANKS! I really only exited due to the pre-holiday low volume day that was a virtual lock today, thinking we'd get a bit of a push up-with no obsticals in the way, and we did. One of the most boring trading days I've had-was the market really open? Took a light position in a handfull of OIH June 165 puts today, and will take my chances that the right shoulder on that chart fills out fast enough to pay me before expiration. Should the right shoulder fill out (on the 60 minute) that H+S will be fairly massive. Didn't go to July because the out month premiums on the OIH are allways rediculous. Will retake my Q puts Monday, probably, and hope that as usual there are a couple of M+A items to drive mom and dad wild (Since when did this amount of buyouts occur at any time besides a top?) I think CNN pumping the 2 cent gas price drop before the open showed an incredible desire to whip the froth, wow, are they starting to reach!-. Hoping to short the gap-and enjoy the slap.
Spooky
