"Successful retest" may be proclaimed
#1
Posted 14 March 2007 - 09:49 AM
Just like it did in May when they made higher lows a week apart.
When was the bottom? July?
Meanwhile CPC is going into orbit.
http://stockcharts.com/c-sc/sc?s=$CPC&p=D&yr=1&mn=0&dy=0&i=p56190762258&a=80346022&r=421.png
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#2
Posted 14 March 2007 - 09:57 AM
#3
Posted 14 March 2007 - 10:00 AM
Investor's Intelligence: Subprime concerns are exaggerated
What more could a ask for?
#4
Posted 14 March 2007 - 10:03 AM
Could be. This high CPC is a market message.But I believe leg #2 is underway, and about to breach the lows.
PS: Jason Goepfert commented on the recent 90/10% volume days:
And if the recent low breaks, it will invalidate this pattern and I would not be looking for higher prices based on this extreme volume reversal any longer.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p46174816428&a=94546561&r=7298.png
Edited by Rogerdodger, 14 March 2007 - 10:17 AM.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#5
Posted 14 March 2007 - 10:09 AM
Mark S Young
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#6
Posted 14 March 2007 - 11:40 AM
The P/C's can get pretty wild during op-ex week. Especially if the VIX is spiking. I under-weight the options datat during volatile declines, and especially during op-ex week.
For instance, the OEX $-weighted P/C went out last night at 6. You'd think that would be very Bullish, but over the past year, such readings have been meaningless (I.e., sometimes they're Bullish, sometimes not).
Mark
I agree with you Mark. The Put/Call ratios are primarily bullish at this point, but other indicators like EW, and volume/price a still bearish. I believe time frame wise we are getting close to a bottom, but I will wait until more short term indicators become oversold again.
Barry
#7
Posted 14 March 2007 - 11:52 AM
Edited by selecto, 14 March 2007 - 11:54 AM.