6 replies to this topic

[thespookyone]

Are we headed to the dumper today?

[OEXCHAOS]

That's a tough one. I'd say, maybe but probably not just yet. I'm seeing a bit of downside volume but I am respecting that upside volume stick. Shorting here is top picking, and so it's tricky. The ARMS, however, is high, and that is not a good sign for the market. My read, unrelated to the relative merit of watching futures volume or SPX volume, is that we'll close at new highs and get a couple clear buy signals right before we sell off. Probably Monday. I'll post my favorite fade (indicator) when I see it. Mark

[thespookyone]

Thx, Mark, noticed some pretty bearish divergence on the futures-so I wanted to get your take.

[OEXCHAOS]

Those big volume up sticks on the 5' ought to be respected, I think. There ought to be plenty of buyers looking for any weakness. That makes it tough to short, IMO. But watch for volume. It'll give you a clue, I think. The $-weighted P/C data is starting to come in, but it's very mixed, thus far. Mark P.S. My favorite fade is an indicator (widely followed) not a person. I just wanted to be clear on that.

[thespookyone]

Thx, again, for the info. Truth is, I'm totally flat here, as the risk reward seems very skewed, and unattractive to me. When I see something that talks to me, I'll make a move. I'm keeping a close eye on the PC ratio as well-"it still matters".

[SemiBizz]

Ya feeling lucky? Go ahead fade me...

[OEXCHAOS]

I would suspect that such would be a rotten idea, Semi. I'll be watching for you to short, however. M