Two days ago, this shrewd reading of the BKX chart proved to be a singularly accurate ST forecast:
$BKX Exhaustion gap?
I'm betting that credit availability and viability will turn out to be the #1 issue for markets in 2007. TWT whether this week's BKX reversal is the beginning of an important new IT/LT trend.
This week's MVP (Most Valuable Poster)
Started by
jawndissedi
, Dec 29 2006 04:28 PM
5 replies to this topic
#1
Posted 29 December 2006 - 04:28 PM
Da nile is more than a river in Egypt.
#2
Posted 29 December 2006 - 04:35 PM
How about "global savings glut" or "sea of liquidity provided by foreign bankers" ?
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#3
Posted 29 December 2006 - 04:36 PM
And dont forget DCENGR who has been calling for a top on BKX and showed us how the banks' A/D line has been deteriorating.
#4
Posted 29 December 2006 - 04:41 PM
And dont forget DCENGR who has been calling for a top on BKX and showed us how the banks' A/D line has been deteriorating.
I will post an update on that sometime this weekend, along with A/D lines for oil, gold, etc... in my blog.
But this is truly a low volume holiday environment. I'm not sure how "concrete" this data will be.
Qui custodiet ipsos custodes?
#5
Posted 29 December 2006 - 05:16 PM
Aw shucks man, I don't expect accolades at all! There's so much going on all at once in the markets. I just got lucky by being the first one to post something about it. But it did sway me into choosing the inverse SPX yesterday afternoon. Thanks for your kindness .
PS there is a bit of an island reversal too. http://www.traders-t...?...st&p=263655
PS there is a bit of an island reversal too. http://www.traders-t...?...st&p=263655
Edited by spielchekr, 29 December 2006 - 05:18 PM.
#6
Posted 29 December 2006 - 06:08 PM
And dont forget DCENGR who has been calling for a top on BKX and showed us how the banks' A/D line has been deteriorating.
I will post an update on that sometime this weekend, along with A/D lines for oil, gold, etc... in my blog.
But this is truly a low volume holiday environment. I'm not sure how "concrete" this data will be.
The A/D is the bonfire wood, the gap is just a Bic. Possibly it will catch. But there's a whole lot of next year ahead for the tax relief dumper. Today was really just another day... so far. We'll see how they play the nervous ones dying to unload come Tuesday (or Wednesday, what's the word on that?).