15 replies to this topic

[redfoliage2]

Seems like they've mounted a pretty good rally, a bit too soon, without enough pessimism.

I'm watching for a spot to get short.

Mark

The litle bounce is losing steam now.

[OEXCHAOS]

Seems like they've mounted a pretty good rally, a bit too soon, without enough pessimism.

I'm watching for a spot to get short.

Mark

The litle bounce is losing steam now.

It was going up on too much volume and down on too little. During op-ex week, respect it and give it some room.

Mark


rkd,

I don't know about free info from Rydex, unless you call their hotline. I think that they have NAV's on there. I get data from them directly as I have had significant assets with them and I talk about their funds in my newsletters.

You can get the data (including NAV adjusted) from Decision point, but you'll have to pay Carl a few bucks (well worth it).

Mark

*nod* thanks Mark. Is the rydex information available to the average joe @ no cost? What you are describing sounds like COT data, but on a daily basis it seems?

I agree there seems to be unfinished business at lower levels as none of my indicators have indicated that a bottom was formed on neither a 60-min or daily basis. Today's rally therefore to me seems just like last Friday and should fizzle out by EOD or tomorrow morning. OPEX does not make things simple though.

Seems like they've mounted a pretty good rally, a bit too soon, without enough pessimism.

I'm watching for a spot to get short.

Mark

mark,

would it be possible to see what you are looking at at this point in time that leads to believe that there is not enough bearishness?

thnx
rkd

Rydex has the amateurs buying bull funds. Equity P/C sanguine. II still plenty of Bulls as with TheStreet.com.

Nothing says we can't go higher, per se, but the odds of it sticking are slim. The decline is not over.

Semi, I'll post some futures stuff when I get some time.

Mark

[SemiBizz]

It was going up on too much volume and down on too little. During op-ex week, respect it and give it some room.

Mark

BWAHAHAHA... I remember when I first showed up on this site all I heard was "Volume doesn't matter"....



Keep your eye on that SPX Cash close, should we close over 1511, you might want to hold off on that short.

[OEXCHAOS]

It was going up on too much volume and down on too little. During op-ex week, respect it and give it some room.

Mark

BWAHAHAHA... I remember when I first showed up on this site all I heard was "Volume doesn't matter"....

Keep your eye on that SPX Cash close, should we close over 1511, you might want to hold off on that short.

You know, I might have said that I didn't use volume, but I doubt I ever said it didn't matter. Since, I've learnd a lot about volume and I can now intuitively see the patterns. What's funny is that I USED to be a tape reader (not many guys under 50 can say that).

I've saved myself from at least a dozen bad day/swing trades over the past 6-9 months thanks to volume analysis.

My position is that this thing has got to show signs of weakness either in volume or in price before I short it.

M

[SemiBizz]

post a 5 day futures chart with volume and I can give you my take... I see us going much higher... my target is 2585.73 on Nasdaq. So far it's a light volume day, lighter than yesterday's 30 min. open. I'm waiting for that number to be tested to short this thing...

Didn't quite get the target yet...

BTW Mark, I didn't say it was you that said that about Volume, I was thinking of some of our other contributors...

And... going back to READ ONLY mode. Excuse the interruption. My trades and analysis are available at the blog link below...

Edited by SemiBizz, 13 June 2007 - 03:15 PM.

[OEXCHAOS]

Semi, Volume is a smart money poll, not a sentiment poll in the traditional sense. M