Bear Argument Chart
Started by
Russ
, Mar 21 2007 09:34 PM
5 replies to this topic
#1
Russ
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Posted 21 March 2007 - 09:34 PM
I am not a perma-bear but this is interesting. If upper trendline is taken out on good volume all bets are off, especially if the breakaway gap is closed.
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"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#2
nimblebear
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Welcome to the Dark Side !
Posted 21 March 2007 - 09:44 PM
Down tomorrow. Talking heads said the traders started to actually read ALL of what happy BEN said, and they didn't like it. Apparently they missed that before the melt up.
OTIS.
#3
KCScott
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Posted 21 March 2007 - 10:27 PM
Down tomorrow. Talking heads said the traders started to actually read ALL of what happy BEN said, and they didn't like it. Apparently they missed that before the melt up.
LOL
I got stopped out of QID at 52.20 in the last 5 minutes of trading when it melted back up.
The Ask is 52.32 right now
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#4
GOOSE2
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Posted 21 March 2007 - 10:47 PM
I only trade intraday. I do what my system tells me to do. Not really a bear or bull.
"if" you want to a bear look at Feb 2000, Oct/Nov 2000, May 2002 or April 2005 all have the same pattern as we have today. So she could turn and fall. I don't know, nor to I care. I just trade the system.
The Goose system is flat and will be for atleast 2 days, so I'm going fishing in the Keys.
#5
SandStorm
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Posted 22 March 2007 - 12:04 AM
Down tomorrow. Talking heads said the traders started to actually read ALL of what happy BEN said, and they didn't like it. Apparently they missed that before the melt up.
You may be right. The current FOMC statement read worse than the Jan 31 piece.
Jan 31 http://www.federalre.../2007/20070131/
March 21 http://www.federalre...321/default.htm
then " . . . and some tentative signs of stabilization have appeared in the housing market. "
now " . . . the adjustment in the housing sector is ongoing. "
then " Readings on core inflation have improved modestly in recent months . . . "
now " Recent readings on core inflation have been somewhat elevated. . . ."
Anyway I read it they seemed worse, but obviously markets thought otherwise. Go figure.
#6
beta
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lasergirl
Posted 22 March 2007 - 01:42 AM
Down tomorrow. Talking heads said the traders started to actually read ALL of what happy BEN said, and they didn't like it. Apparently they missed that before the melt up.
LOL
I got stopped out of QID at 52.20 in the last 5 minutes of trading when it melted back up.
The Ask is 52.32 right now
I think its possible QID bounces to mid-53's/low 54's before resuming its downtrend to 49-50 by next week.
That would position the "top" around 2% higher on NAS from today's HOD.
Wouldnt rule out EOQ melt-up either next week, esp. if key indices stay green for the year.
Edited by beta, 22 March 2007 - 01:42 AM.
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