216 replies to this topic

[lawdog]

cut back to 40% long. there's not much to like about today's action.

[SemiBizz]

Whenever we see these high volume gap fills...

 

It's called a "Search for Support"

 

And we can keep on filling them...

 

first one is at 6047.61

[SemiBizz]

 

Long this Short Biotechs ETF - LABD

 

for a trade.

[lawdog]

bot back my qld's that I sold yesterday, puts me 45% long.

[lawdog]

today's action might be just what we need to provide conditions to get moving upward again and to finally break thru and hold 21000 and 2400 in djia and spx.

[SemiBizz]

Hasn't tested that high yet...

 

Still struggling with 2385, from underneath now.

 

Everything is fine until 2377 breaks.

[lawdog]

I imagine quite a few people follow the ISEE put call numbers. These can be helpful, but often they are all over the place, so I often ignore them. But I can't help but notice today how extreme the readings are with just a small pullback in the market. Granted the NAZ got hit maybe 8/10ths percent, so that is a noticeable drop, but still, to get that beared up over such a small drop seems extreme. But sometimes these numbers from ISEE are not always to be faded. The Dow has gone positive and the spx is hardly off any now. Of course, who am I criticizing: the spx drop of 10 points got enough of my attention to cause me to sell a portion of my spx position, although I did buy the NAZ back at near lows of the day. Still, I have reduced by position from 60% to 45% as a result of that small 10 pt spx drop.

[lawdog]

Weds mini-selloff may be all this market needs to get moving again. we have plenty of room to run with short and medium term indicators before becoming overbought. longer term, I think we are getting pretty close to a point where the mkt will need (and I hope get) some correction. If you were a bear yesterday, my condolences; bears just can't catch a break with any decline having any follow-thru. that's probably not good for the longer term prospects. 

 

I am watching now for a mkt that gets overbought but can't get moving higher. the bulls should be able to run with it now. If they can't then maybe we have peaked for a while.

[SemiBizz]

Welp, these boyz know exactly what they have to do here...

 

There's the low 2385.

 

Do or die under 2377.

 

And then all they have to do now is break the 2401.

[lawdog]

Hey Semi, I wonder if your followers might be better served by your own thread. that way, there will be clear continuity in your posts and your positions. it is clear our approaches to trading, markets and the securities we trade are very different, so why not allow people to receive your posts straight from the source and uninterrupted. i am happy for people to comment on my posts, critique my analysis, etc., but our approaches are so different that i don't think we really complement each other's approach.