3 replies to this topic

[SemiBizz]

Although I am long term bearish, for a littany of reasons I can't be short here. I'm open to changing my mind based on a follow through day on extremely high volume... otherwise I expect a strong bounce. I believe the street really wants to see a retest, and that's why there wasn't a bid under this market today.



http://bigcharts.mar...&mocktick=1.gif



The volume of reference today on the close under the 2359 low from 3/6 was 2.7B, we only managed 2.3B. Without a strong volume follow through at the B point (2340) we're going to get a bounce, that could take us right back to 2375...



http://stockcharts.com/c-sc/sc?s=$INDU&p=D&b=5&g=0&i=t04350915635&r=472$.png



DJIA 5 day RSI needs to be watched closely on a gap down opening for a bottom...

Edited by SemiBizz, 13 March 2007 - 07:40 PM.

[qqqqtrdr]

Semibizz: I see a strong push lower here. I agree we finished at some support, but we are in a 10X volume down day. I would assume to see nothing over 10X volume down day if their were investors nibbling at stocks. I believe everyone is looking for a retest and not going actually lower. Let's see what happens, but things could get ugly fast.... Barry

[SemiBizz]

Semibizz: I see a strong push lower here. I agree we finished at some support, but we are in a 10X volume down day. I would assume to see nothing over 10X volume down day if their were investors nibbling at stocks. I believe everyone is looking for a retest and not going actually lower. Let's see what happens, but things could get ugly fast....
Barry

If they get ugly on light volume, I'd be real careful of a bear spike to 2375....



DISCLOSURE: 100% Cash at present.

Edited by SemiBizz, 13 March 2007 - 07:56 PM.

[qqqqtrdr]

Semibizz: I see a strong push lower here. I agree we finished at some support, but we are in a 10X volume down day. I would assume to see nothing over 10X volume down day if their were investors nibbling at stocks. I believe everyone is looking for a retest and not going actually lower. Let's see what happens, but things could get ugly fast....
Barry

If they get ugly on light volume, I'd be real careful of a bear spike to 2375....



DISCLOSURE: 100% Cash at present.

I'm DXQSX 2.5X NASDAQ BEAR bought 2 days ago. I'm looking for a bottom to go 2.5X long 100% invested....