It is ugly out there today. All of the leading stocks I follow are down.
Do not trust positive QQQQ or other indices
Started by
greenie
, Mar 12 2007 09:26 AM
4 replies to this topic
#1
greenie
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Posted 12 March 2007 - 09:26 AM
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#2
SemiBizz
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Volume Dynamics Specialist
Posted 12 March 2007 - 09:40 AM
Volume Sucks.... Bear Trap setup...
Right now you looking at Low Volume Dojis.. .That favors the bulls...
Git along Little Dojis....
Right now you looking at Low Volume Dojis.. .That favors the bulls...
Git along Little Dojis....
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
arbman
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Posted 12 March 2007 - 12:31 PM
The mid and small caps' price, volume and A/D lines are diverging from the large caps as the indices are approaching to the 2/27-2/28 sell off region. So, far this is the only bearish indication I see. The semis generally led the NDX but not the market last week, the oil and dead cat bounce in the REITs did and the oil is more likely pulling back right now than breaking down. I think it will go higher a bit futher until SPX completes its retracement, then we will see how much downside pressure left from here. Many breath related momentum issues are still trending lower, but slowing down considerably, some of my money flow indications are showing a low might be at hand for a little further. Not everything is perfectly lining up for bulls, but the prices have gone higher with the worse setups before...
- kisa
Edited by kisacik, 12 March 2007 - 12:31 PM.
#4
arbman
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Posted 12 March 2007 - 02:43 PM
Currently, the market is exhibiting a sell off with advancing A/D line, if it doesn significantly reverse in the next 20 mins, it is likely that we will see another gap up attempt tomorrow...
- kisa
#5
arbman
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Posted 12 March 2007 - 05:41 PM
I think the indices are at a very important juncture, I think a gap up tomorrow can get sold bad due to the internal momentum configuration, many indicators are now neutral to overbought. If a sell off gets a bit legs this time for a change, it can finally start to test the lows. I am looking to buy, if I can.
The option open call buys vs open put buys are very very disproportional at the moment, actually worse than the previous week's. The difference from the previous week is though the firms purchased also outright puts and the firm only $-weighted P/C showed quite a bit bearish speculation as well.
I do not believe a large downtrend can start with this setup easily since there is still some liquidity expected to come to the markets until May or so or the market is about to get hit big one more time by something yet untold...
- kisa
