3 replies to this topic

[OEXCHAOS]

This is one mighty dull market. If the old adage holds, we should be looking long. The problem is that the ARMS is saying that there's distribution afoot. As such, before I go long, I'll be watching for a contraction of the ARMS below 1 and preferably some big green volume sticks on the 5'. Otherwise, I remain agnostic-to-modestly Bearish. Mark

[arbman]

I agree with the short term that this might test higher. But unless it drastically changes in a day or two, today's (and past 5 days) intraday structure is very very bearish;

There is no growth;

http://ichart.finance.yahoo.com/z?s=^GSPC&t=1d&q=&l=off&z=s&c=^NYA,^RUT,^NDX,^IXIC,^NDXE,^DJI,^SPXEW,^MID,^SML&.png http://ichart.financ...,^MID,^SML&.png

The usual suspects are leading to the upside;

http://ichart.finance.yahoo.com/z?s=^GSPC&t=1d&q=&l=off&z=s&c=^IXY,^IXR,^IXE,^IXM,^IXT,^IXV,^TXV,^IXB,^IXU&.png http://ichart.financ...,^IXB,^IXU&.png

Upgraded semis are leading to the downside;

http://ichart.finance.yahoo.com/z?s=^NDX&t=1d&q=&l=off&z=s&c=^NDXT,^NDXX,^NDXE,^XSH,^HHI,^XWH,^IWH&.png http://ichart.financ...,^XWH,^IWH&.png

- kisa

Edited by kisacik, 02 April 2007 - 10:51 AM.

[selecto]

Players appear to like the downside here. At noon the QQQQ is down .21% whereas the QID is up .97%.

[Cirrus]

Options are way too cheap IMO. I'm using them in this environment to hedge and play some short positions in individual equities with really sick weekly charts. Still long energy and materials but they will be impacted on any correction. I really like the weekly breakout in the DJUSMD chart and think its a sign that we get a bullish move that lasts several months. I also like the big pickup in relative strength in the energy sector. I'm playing small and mid caps with the best weekly charts that seem to be breaking out of bases or just performing well. Supplementing that by trading around core positions in COP, CNQ, NE, GSF, NOV, NXY, SSL and a few others. Probably buy on any big selloff that materializes when the prisoners are released.