11 replies to this topic

[da_cheif]

the nasdaq comp is leaning very hard on its overhead 38.2 retrace off its ATH.....once 2645 is taken out by more than a few points on a close the next target at the 50% retrace of 3120 should be reached relatively soon....the move from the lows to the 38.2 retrace has taken 56 months....which covered 1426 pts.....the next 600 pts may take only a few weeks or months to occur. all of course imho fwiw bla bla bla.......SJNORJHT

[Russ]

Naz sure looks like it is going to go down some more now at least for a bit, looks like an exhaustion gap which barely made it above the earlier high.

http://stockcharts.com/c-sc/sc?s=$VXN&p=D&yr=0&mn=4&dy=0&i=p81682615489&r=7724.png

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=4&dy=0&i=p81682615489&r=8595.png

[da_cheif]

post expiration adjustments are the norm and a pavlovian instinct is to be hedged or short on opex close..however being prepared for upside surprises in this MOAB.s is something i have a habit of doing....cuz i believe that in this once in a lifetime move i wont getta second chance...........i feel for those perma bears that have painted themselves into a corner.......the only thing that will extricate them is the epicenter of primary wave 3.........i patiently await that inevitable joyous moment.......SNORT

[Russ]

post expiration adjustments are the norm and a pavlovian instinct is to be hedged or short on opex close..however being prepared for upside surprises in this MOAB.s is something i have a habit of doing....cuz i believe that in this once in a lifetime move i wont getta second chance...........i feel for those perma bears that have painted themselves into a corner.......the only thing that will extricate them is the epicenter of primary wave 3.........i patiently await that inevitable joyous moment.......SNORT

If you saw my to da moon NYSE chart I posted a couple of days ago you can see that I am not long term bearish, but these short term indicators are looking like we need a little more down from here, especially the vxn and vix.

It also looks like a low into July is possible in line with Airedales's 4.5 year cycle work. Nonetheless I am impressed with your clx post showing how fast it has turned up this time.

Edited by Russ, 16 June 2007 - 09:01 AM.

[da_cheif]

to much attention is directed at the vix.....the vix is useless asa timing tool....at least to me....the vix and stochastics to me are tools the boyz use in messing with peeples minds......snort

[NAV]

to much attention is directed at the vix.....the vix is useless asa timing tool....at least to me....the vix and stochastics to me are tools the boyz use in messing with peeples minds......snort

I agree, VIX is a useless timing tool. VIX is a lagging indicator and does not tell anything about what the price is gonna do. It just follows the price. The only utility of VIX is when it reaches upside extremes to spot bottoms. The other utility is when the VIX is coiled in a tight range, it a warning of increased volatility to come.

[da_cheif]

to much attention is directed at the vix.....the vix is useless asa timing tool....at least to me....the vix and stochastics to me are tools the boyz use in messing with peeples minds......snort

I agree, VIX is a useless timing tool. VIX is a lagging indicator and does not tell anything about what the price is gonna do. It just follows the price. The only utility of VIX is when it reaches upside extremes to spot bottoms. The other utility is when the VIX is coiled in a tight range, it a warning of increased volatility to come.

thats a fact...jack......

[Russ]

I agree, VIX is a useless timing tool. VIX is a lagging indicator and does not tell anything about what the price is gonna do. It just follows the price. The only utility of VIX is when it reaches upside extremes to spot bottoms.

I beg to differ, in fact I stated on this board that I thought market was going up more partly based on looking at vix, it had broken below its middle bb and looked like its momentum would follow through. There is a trader out there in cyber-space somewhere called Vixman that relies heavily on the vix for his decisions.

http://stockcharts.com/c-sc/sc?s=$VIX&p=D&yr=0&mn=4&dy=0&i=p30402350393&r=4287.png

[Russ]

from a weekly perspective vix looks like it has the potential to go back to the bottom bollinger band which would be a very big spx rally.

http://stockcharts.com/c-sc/sc?s=$VIX&p=W&b=5&g=0&i=p62700117517&r=1321.png

[vitaminm]

http://finance.yahoo...=...p;q=l&c=SPY