4 replies to this topic

[dcengr]

Tomorrow is the key pivot. It will tell us whether there's another leg down, or wave B may have started.

Sentiment is shaping up nicely, and people are turning bullish again. It is still in a zone where it can bounce higher, or in a downtrend, an area where it can turn lower with a dead cat.

I would like to look at the P/C ratio today and see what the OEX vs ECPC is at the end of the day. Too much optimism may mean the dead cat is over. Too much pessimism may mean scorch tomorrow.

[dcengr]

The pattern I'm watching right now...

[hiker]

how are you positioned? I am long a basket of cores, speculative plays, and what I call the fabulous seven - 6 of which I have remained long since 12/29..as Rodgerdodger said yesterday, I do not try to "game" the market with some of my funds. tho' 80 to 90 percent of my funds for some weeks now have been devoted to commodity and index futures trading...I rarely scalp futures...I swing trade them a few times a year...now flat index futures I am short 7 stocks right now. long 46....representing 6 % of my trading account ROCM has had two really good buying opps in months...one was recently...new historic highs this week. AAPL has fared well, in spite of those who doubt it. SNDK held at an impt weekly ema...bounced from it and still looking OK.

Edited by hiker, 20 March 2007 - 09:55 AM.

[gorydog]

The pattern I'm watching right now...

I agree, do or die for the bear case within 1-2 sessions, I'm using SPX 1418 as my last line in the sand (allows a false breakout). April 145 SPY calls were .35 today. If there is a scorch, it should be almost vertical.

GD

[espresso]

It looks down to me today and tomorrow right from here, unless they get out the rabbit...!