4 replies to this topic

[OEXCHAOS]

We had a day trade short on at 152200. Covered a moment or two ago at 151550 for a 6.5 point profit (conservative exit point). We'll re-enter on a bounce. We are IT 50% short for the record from above. Mark

[rkd80]

Hey Mark,

I am curious as to how you saw sentiment from Friday to Monday? Using crude measures like cpc and the blogs it appeared that bearishness rose to high levels dampening the chance of a continued sell-off this week...but...

-rkd

We had a day trade short on at 152200. Covered a moment or two ago at 151550 for a 6.5 point profit (conservative exit point). We'll re-enter on a bounce.

We are IT 50% short for the record from above.

Mark

[Cirrus]

I covered some, too. Still short homebulders, though, and adding on rallies. Since I did a little short covering that may mean were headed lower now rather than later--LOL.

[OEXCHAOS]

More Bearishness, but not enough. We're in a down trend. We need real Bearishness. We were actually seeing dip buying on the decline. That's not good. Mark

[Cirrus]

Market is being held up via futures pit once again. We've been running 5 and 6 to 1 negative breadth. This type of breadth is typically associated with much bigger moves to the downside.