12 replies to this topic

[arbman]

You are right, there is still good enough bid to get closer to the gaps from yesterday morning, I don't think the indices will close them before testing (lower) early next week though...

Edited by kisacik, 11 May 2007 - 11:39 AM.

[jjc]

Short squeeze is most likely over... The last spike that quickly reversed... Implied volatilities are also rising, tick is sharply reversing from an extreme, trin is healthy though, let's see how much downside there is left...

Kisa,

My biggest concern here is not the size of rally, but the fact that the 60-min trend has turned up. I was almost ready put my last 30% short, but i decided against it. My biggest losses in futures trading has come when i was short and the 60-min trend turned against me. If the trend turns down again, i can again reshort this in a heartbeat. For now, i am flat and watching.

60-min turned up on a Friday mid-morning hmmmmm...

[kamakazeman]

My biggest concern here is not the size of rally, but the fact that the 60-min trend has turned up. I was almost ready put my last 30% short, but i decided against it. My biggest losses in futures trading has come when i was short and the 60-min trend turned against me. If the trend turns down again, i can again reshort this in a heartbeat. For now, i am flat and watching.

NAV, thx for all your comments;
I am assuming the time stamp above is EDT
Here it is an hour later, I'm suspicious of this all-too-easy recovery, and quickly looking aroung the list of "usual suspects' indicators, several apprear to have rolled over, or look to be pooping out on the upside, with one or two showing potiential bottom levels, on the whole the evidence is that the rally is running out of gas, except fot tick and trin, at the moment, (which tuned quickly yesterday).......I would like to see the mkt move lower for a nice re-entry.......
So what sayest thou, now, Sir?