15 replies to this topic

[Rogerdodger]

S&P is up 6.30. Strike that. UP 7! Strike that. UP 7.20 Strike that. UP 7.70!

Strike that. UP 9.5!
(Looks like Johnny-come-lately shorts will get scorched... as usual.)

Sentimentrader.com bears jumped almost as high as last Wednesday before the last up day.
Look at May 18th below. (5th day after the trendline was broken)
Let's see if tomorrow makes a lower high.

Edited by Rogerdodger, 06 March 2007 - 01:18 AM.

[jawndissedi]

Sorry, Roger, you can't make a call on "world" markets until Sri Lanka opens.

[Rogerdodger]

I know. New Zealand is down 10 points too.

[A-ha]

If it ever gaps up, it will be a gap and crap day, given the fact that MCO is very oversold. If it doesnt crap immediately, the next day will be butt ugly sell off that will print lower low. Now anybody wanna bet on this call? In order for Market to sustain any gap up, first you need this sucker diverging positively, or rising. Sorry if I disappoint you folks.

Edited by xD&Cox, 05 March 2007 - 10:30 PM.

[Rogerdodger]

Don't panic XD. I don't think we have seen the low but even a bear can get winded and need a breather.

[A-ha]

I have been dying to get a bounce, I swear. I was worrying that I was going to have to carry those lame ETF shorts while I could have made better bucks in leading sectors. This is going to be a good opportunity to rotate into other places.

[Rogerdodger]

Looking at NAMO extremes and previous price congestion, it looks like a logical place to pause in here. (Again look at May's action)
However the gapping of the NASI dots makes it look like it's just going to fall off a cliff. Continue falling that is.
http://stockcharts.com/c-sc/sc?s=$NDX&p=D&yr=3&mn=0&dy=0&i=p88977852238&a=91503932&r=2795.png

Edited by Rogerdodger, 05 March 2007 - 10:51 PM.

[A-ha]

Assuming this whole thing is a normal correction within the bull market which I dont think it is, but if it is, then the logical place to get a ST bounce will be around SPX 1360... In other words, SPX should keep making relatively small lower lows while McO diverges for a few days. Normally , the first multiday rally off this low should be choppy, shallow and corrective like a bear flag. After that we should get another leg down, probably lower lows because internals and volume printed power spikes in the first leg. This whole thing in my opinion doesnt look normal, this is different than others, something quite unholy. This one butchered the leadership and it is so powerful as evident from intense volume and internals that developed in very short time frame relative to the past instances.

Edited by xD&Cox, 05 March 2007 - 11:08 PM.

[libs]

Oz is on a balltearing bounce fwiw.

[crestdorf]

Oz is on a balltearing bounce fwiw.

Remember the one day phenoms in the recent bear? Up like 200 in ndx in a day and 400 dow. Then give the entire day back the next? Lol. Welp, since we had a mini crash, how about a mini melt up say 18 Snp handles from the gap up tommorow, which don't fill till wednesday.