10 replies to this topic

[greenie]

As I read this message board, it seems like everyone, bulls and bears alike, is seeing a bottom in the individual sector he is active in. Amazing !!! Anybody thinks we are not at a significant bounce point ?

[OEXCHAOS]

I think we are ABOVE a significant bounce point. Seriously, we're getting there, but I think not yet. I'll advise when I see it and people will think I'm "fighting the trend" or some such. Then I'll say, "the bottom is almost in." When I say that, go long because the bottom is already in. I don't know why, it's just the way it works! Mark

[redfoliage2]

As I read this message board, it seems like everyone, bulls and bears alike, is seeing a bottom in the individual sector he is active in. Amazing !!!


Anybody thinks we are not at a significant bounce point ?

To find a bottom one may need to look at the weekly charts since all meaningful supports on the daily are gone.

[arbman]

Anybody thinks we are not at a significant bounce point ?

Yes, but sometimes the blind squirrel can find an occasional nut...

[2cents]

As I read this message board, it seems like everyone, bulls and bears alike, is seeing a bottom in the individual sector he is active in. Amazing !!!


Anybody thinks we are not at a significant bounce point ?

Greenie

They'll be bottom pickers coming out the wazoo for the next couple of days. Just goes to show the increadible bullishness that is built into this market. They simply can't believe it's over.

[selecto]

Quick flyby: I'm a "price rules" kind of guy, and if you look at the weekly price momentum crunches, there is absolutely, positively no way we have "bottom" in here. A big fat guy with a sword named Vinnysan wants the Yens back.

[arbman]

A big fat guy with a sword named Vinnysan wants the Yens back.

Awesome, selecto.

They'll be bottom pickers coming out the wazoo for the next couple of days. Just goes to show the increadible bullishness that is built into this market. They simply can't believe it's over.

Are you trying to say there won't even be a 2% bounce after an 8% decline?!?

[tommyt]

because of the way it went up, there is little support coming down...and since the stock mkt ride is escalator up- elevator down..looks pretty normal ...the 200 day (11,800)/big figure ( 12,000) zone looks like a decent 1st target.

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&b=3&g=0&i=t23384657938&r=4239.png

[arbman]

I am thinking the next 45 minutes will determine the day for today...

[selecto]

Kisa, this was my opinion over the weekend. Hasn't changed as of noon.: Monday we start down. Can't call the close yet. Stuff says we need to flatten / bounce in here. Week closes down. Watch the Yen. It is now at the point where every uptick in the Yen forces a cary trader sale of something else. Similarly, every downtick in whatever the trader bought now requires action. Those yen have been leveraged out the wazoo so its hairy. A bunch of rich terrorists could probably hit the Yen ask all next week, and "blow up" the world.