Check out the RSI and especially the CCI levels.
Net long now w/hedge.
Bottom could be in...
Started by
CLK
, Feb 28 2007 04:24 PM
4 replies to this topic
#1
CLK
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Posted 28 February 2007 - 04:24 PM
...or a lasting rally at least, possible retest sometime next week.
Check out the RSI and especially the CCI levels.
Net long now w/hedge.
Check out the RSI and especially the CCI levels.
Net long now w/hedge.
#2
Russ
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Posted 28 February 2007 - 05:11 PM
Consider that this is the largest one day drop since 9/11 2001, look at the rsi back then - it went quite abit lower than this time. Is 3 gentle days off selling and one violent one enough? It would be more typical for it to find a short term bottom on thursday or friday. This isolated gap down doesn't really look very attractive to attempt a long on...kind of like the Road Runner hanging mid-air beside the cliff! We'll see.
Edited by Russ, 28 February 2007 - 05:14 PM.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#3
CLK
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Posted 28 February 2007 - 05:29 PM
Definitely not without risk, and why I'm hedged.
#4
traderpaul
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Posted 28 February 2007 - 05:29 PM
Last time it took 3 spikes of 1.52, 1.36 and 1.34 to do the job.....I think you are early for picking a bottom.....Plus this bottom has no fear.....none what so ever.
Charthttp://stockcharts.com/h-sc/ui?s=$CPC&p=D&yr=0&mn=11&dy=0&id=p72359394143.png
Charthttp://stockcharts.com/h-sc/ui?s=$CPC&p=D&yr=0&mn=11&dy=0&id=p72359394143.png
Edited by traderpaul, 28 February 2007 - 05:32 PM.
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#5
da_cheif
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Posted 28 February 2007 - 06:10 PM
Last time it took 3 spikes of 1.52, 1.36 and 1.34 to do the job.....I think you are early for picking a bottom.....Plus this bottom has no fear.....none what so ever.
Charthttp://stockcharts.com/h-sc/ui?s=$CPC&p=D&yr=0&mn=11&dy=0&id=p72359394143.png
no fear???.....lol
blah blah blah...from cnbc
"This week's sharp swings in the market may be just the beginning.
"I think we're going to be very choppy," David Dietze. Chief Investment Strategist at Point View Financial Services, told CNBC.com. "There's a lot of investors who found themselves more exposed to equities than they were comfortable with."
Volatility can be a plus for some investors such as hedge funds. But many analysts say typical investors who want to avoid extreme risks would be wise to remain on the sidelines, at least for now.
"There's no need to rush in," said Bill Strazzullo, Chief Market Strategist with Bell Curve Trading. "If this ends up being a good buying opportunity, you don't have to rush because any advances will be met with significant selling. So you want to be cautious."
"I would sit back and let the market settle unless it were to fall further to about a 5% correction from its earlier high," agreed Larry Adam, Investment Strategist at Duetsche Bank Private Wealth Management. "If the S&P drops to 1380 - 1390, stocks become very attractive."
