OEX
#1
Posted 07 February 2007 - 09:19 PM
This index has been the leader since the summer lows, now leading in the opposite direction.
Soon we will see what happens when the leadership is death.
#2
Posted 07 February 2007 - 09:40 PM
~Benjamin Franklin~
#3
Posted 07 February 2007 - 09:43 PM
#4
Posted 07 February 2007 - 10:04 PM
U.F.O.
~Benjamin Franklin~
#5
Posted 08 February 2007 - 02:44 AM
#6
Posted 08 February 2007 - 03:56 AM
If you could have pulled a one month chart of OEX and compare it with the other indices, you would have seen the fact that OEX has been underperforming all of them except NDX which will lead us on the downside when things turn. So there you have your IT time frame divergence.
Then you could ask why I preferred to show this recent formation instead of that ? Because this board has no interest in other time frames. People here mostly daytrade.
#7
Posted 08 February 2007 - 04:37 AM
The Fed has not made any permanent repo since 12/20, there are only $19.75B in temp repos and $12.75B is expiring tomorrow, the Treasury auctions are back to the short term and relatively low levels. These are trying to support the USD and so far they didn't... (what I am trying to say clearly is there is not enough liquidity being created to support the stocks, yet the current situation is still unable to support much the USD compared to the other currencies, so the liquidity will continue to dry)
The net call options in the open interest did not grow since it had the 30% haircut after the January expirations despite the claims of the bulls that the market is about to go up explosively. I wonder where the institutional interest is. There are very unfavorable positions being opened in the index options. The liquidity is drying folks, I remain bearish, for the IT, but hedged, and still expect a top before March...
- kisa
Ref. ECB homepage, I think the decision will come out at 8:30am EST.
Edited by kisacik, 08 February 2007 - 04:46 AM.
#8
Posted 08 February 2007 - 04:57 AM
Edited by kisacik, 08 February 2007 - 04:58 AM.
#9
Posted 08 February 2007 - 05:03 AM
Edited by xD&Cox, 08 February 2007 - 05:05 AM.
#10
Posted 08 February 2007 - 05:20 AM
Either the institutional and/or the retail investors are looking to buy and the market makers are not going against them at the moment to support the prices, usually a decline that initiates with this setup can get legs...
- kisa
Edited by kisacik, 08 February 2007 - 05:22 AM.