6 replies to this topic

[Rogerdodger]

So far, if they can close flat or better, this will look like a successful retest.
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

[dcengr]

Give it some time, I think if its flat at this level for most of today, we'll be "retesting" soon, and probably fail. Just a FF. But I believe leg #2 is underway, and about to breach the lows.

[jawndissedi]

No fear -- it's that simple. Everything's going to be just fine:

Investor's Intelligence: Subprime concerns are exaggerated

What more could a ask for?

[Rogerdodger]

But I believe leg #2 is underway, and about to breach the lows.

Could be. This high CPC is a market message.

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.

[OEXCHAOS]

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

[qqqqtrdr]

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

[selecto]

Holy cow, we are busting previous lows on heavier volume and somebody wants to buy? They are on optijuana, I believe.

Edited by selecto, 14 March 2007 - 11:54 AM.