13 replies to this topic

[OEXCHAOS]

We blew the whistle on Monday

http://www.traders-t...showtopic=70862

I also wrote about it in ChartSmarts and the ISA Daily.

Now, we get to see if this decline has legs, or if it's just WWW selling.

So far, I've been seeing dip buying, but today will likely tell us a lot. Nothing Bullish as yet in the sentiment.

My first target for the ES was 153200. As Semi sez, "bagged and tagged". I'm still eying 150900 +/- 2 points as the next target and probably a better low. We'll see.

Also, nice calls Dev, D&Co, Semi, BBB, and anyone else who got short for this decline.

Mark

[Insider]

We blew the whistle on Monday

http://www.traders-t...showtopic=70862

I also wrote about it in ChartSmarts and the ISA Daily.

Now, we get to see if this decline has legs, or if it's just WWW selling.

So far, I've been seeing dip buying, but today will likely tell us a lot. Nothing Bullish as yet in the sentiment.

My first target for the ES was 153200. As Semi sez, "bagged and tagged". I'm still eying 150900 +/- 2 points as the next target and probably a better low. We'll see.

Also, nice calls Dev, D&Co, Semi, BBB, and anyone else who got short for this decline.

Mark

Thank you

Insider

[da_cheif]

5/26/2007 7:51:33 AM From: da_cheif . 1499 to 1491 is possible by jun 6 the wed before the week of expiration....7 trading days away.....but the technical picture is mixed,,,,chaicin oscilator is into very bullish territory....as is the detrended nyse short interest ratio.....however the oex open int pc ratio is in poor shape .....as for the short term ew structure its rather ambivalent and a friday rally that closes near the top of the last hour of trading is usually a hand job.......bottom line....ideally a decline or sloppiness into june 6 would be ideal...fwiw imho bla bla bla

[OEXCHAOS]

Thank you

Insider

Yeah, you too. I knew I was forgetting some folks who made some unambiguous calls. Nav too, but he was more day-trading it (masterfully).

I hate bulk atta's cuz I ALWAYS forget someone important.

Mark

[thespookyone]

I've been playing for the correction, and explaining my reasons for it here, in what has been a tough environment at times due to the bullish froth that abounds. I've posted some of my trades, and done quite well shorting. I maintain, as I have for sometime, that with a completion of "D" in this RST-we are headed to "E", plain and simple. To me, it has allways been about where "d" completes, and price and support levels will tell that tale. But, as I have stated here many times-it's not the atta's that are my desire-just the CASH. I think the interplay of ideas has helped us all trade better-and I am particularly gratefull to longs that have shared their TA, not just ranting "moos". Your take on the market is allways helpfull, and you have the same positive effect on me that my dad used to (although I may be older than you at 51) keeping me somewhat grounded. I'm not a plunge type trader, but I tend to pull the trigger hard at times-and have for the last 25 years. (the first 5 I plunged,threw stuff at my trading screen,ect,then grew) Your calls, visa-vie sentiment, have been excellent-and appreciated. Spooky

[OEXCHAOS]

Thanks. And I've been watching your posts with interest. M

[eminimee]

If my count on OEX was wrong and we didn't top a 5th of an ED....we may have a 5th to go. If so...the 698 area should hold ..then up to a top near 710/712 early next week. There is nothing impulsive yet off the top.

I have my suspicions though as I mentioned in a post after close on Monday....SPX made a slight new high with out the day session ES confirming...OEX also neglected to make a new high ..I did short the close Monday....flat at the moment but looking for a long.........I'm on guard for the "one more high" that never comes though.

Kind of an ambiguous post....but it's tricky in here.

http://stockcharts.com/c-sc/sc?s=$OEX&p=15&yr=0&mn=3&dy=5&i=p03355495495&a=89308538&r=1968.png

[OEXCHAOS]

tops are tricky, especially when they're not! Seriously, I think that there's never been a time when sentiment is more important to watch. It ought to clue us as to whether we should be looking to buy the dip, or short any bounce. Mark

[eminimee]

The first hourly bar of day session has support right at 1525.25.....

: if we had a b wave double top....a double top target would be 1524.50......1524.60 SPX



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[NAV]

Thank you

Insider

I was forgetting some folks who made some unambiguous calls. Nav too, but he was more day-trading it (masterfully).

Mark

I woudn't call my style daytrading. I would call it hourly swing trading. My trades last anywhere between a few hours to a couple of days (1-3 days). In this case, i closed the last portion of my position today (day 3).

Edited by NAV, 06 June 2007 - 08:52 AM.