12 replies to this topic

[NAV]

As i noted in my morning post, there was a potential for the MCOs to dip below zero and rollover the summation indices. That's just what happened. Yet, we are not able to muster more than a few hours of correction, which tells me that the system is clogged heavily with shorts. If that's the case, some pain maybe coming for the bears. I remain short with an average price of NQ 1864. I need to see a day of sustained selling without the late day recovery to hang on to my swing position. Otherwise, my capitulation point is close. Gotta keep the powder dry.

[greenie]

It may be helpful, if you check the last five tops of NQ/NDX (Nov, Dec, Jan, Feb) that were followed by sharp one-day decline. This index has different behavior near the top from SPX - possibly because it is an index of only 100 stocks with huge public interest.

[Rogerdodger]

This looks a bit toppy and seriously diverging.:
http://stockcharts.com/c-sc/sc?s=$NYSI&p=W&b=5&g=0&i=p64014846971&a=18555577&r=304.png

Edited by Rogerdodger, 24 April 2007 - 10:49 PM.

[89S10]

shhhh ... Don't mention the index and equity put/call ratios. Pass it on.

[spielchekr]

Here's the only indicator you will need from now on until the tooth fairy retires. Because prosperity revolves entirely around how much is printed and how fast it is dispensed. Period.

[spielchekr]

PS~ Denleo was correct. No risk (or at least, all risk is being handled by the Fed).

Here's the only indicator you will need from now on until the tooth fairy retires. Because prosperity revolves entirely around how much is printed and how fast it is dispensed. Period.

[OEXCHAOS]

Well, that could explain why we haven't see so much weakness, and when we do it doesn't last... M

[redfoliage2]

PS~ Denleo was correct. No risk (or at least, all risk is being handled by the Fed).

Here's the only indicator you will need from now on until the tooth fairy retires. Because prosperity revolves entirely around how much is printed and how fast it is dispensed. Period.

US dollar/Japanese Yen dropped nearly 4% year to date. USD index is at multu-year low and could get even lower by the end of the year.

[jjc]

Well, that could explain why we haven't see so much weakness, and when we do it doesn't last...

M

Newbie, shameless self promotion:

Boom, Boom and the devil within.
http://www.traders-t...?...c=69393&hl=

Are you short into Monday?
There is a pattern you might want to research....
http://www.traders-t...?...c=69364&hl=

That FED pretty clever:
http://www.traders-t...?...c=69258&hl=


All that and I went short 1494.5 for a quick gap trade; New home sales coming.
Waiting for the market to humble me a bit.

[jjc]

Well, that could explain why we haven't see so much weakness, and when we do it doesn't last...

M

Newbie, shameless self promotion:

Boom, Boom and the devil within.
http://www.traders-t...?...c=69393&hl=

Are you short into Monday?
There is a pattern you might want to research....
http://www.traders-t...?...c=69364&hl=

That FED pretty clever:
http://www.traders-t...?...c=69258&hl=


All that and I went short 1494.5 for a quick gap trade; New home sales coming.
Waiting for the market to humble me a bit.

It is definiteatly an uncomfortable short here.