6 replies to this topic

[NAV]

http://nav-ta.blogsp...is-decline.html

[ogm]

NAV, about why SPX got hit more then NDX. NDX never had the magnitude of SPX rally in the first place. As measured by longer term charts. The sectors that got hit hard yesterday where in parabolic uptrends. Like oils and others. Look at XOM down 3 points. While IBM and INTC tried to stay green all day, XOM couldn't catch breath for a single minute, was under steady pressure all day. My uneducated guess is that Naz will perform relatively better on this decline. Thats why I'm not short the Qs and the only tech stock I'm short is ADBE. And the Qs will be the first thing I'll be buying for rallies.

[arbman]

WOW! We are thinking so alike, I was just writing my own thoughts up there...

[OEXCHAOS]

Naz decline vs. SPX: The answer is that SPX was what they planned on taking down. Just go back and look at the options data on the SPX and SPY. The story is written there. My post touched on it. Mark

[rkd80]

Nav, Apparently lots of folks do not trust this decline. As Mark pointed out the sentiment is confirming the disbelief - that to me appears to be a very bearish sign. At this point I feel quite confident that we can see a deeper decline that might actually forge lower than last week's lows because we are not experiencing the same kind of OS + Bearish levels. rkd

[NAV]

Naz decline vs. SPX: The answer is that SPX was what they planned on taking down. Just go back and look at the options data on the SPX and SPY. The story is written there.

My post touched on it.

Mark

Mark,

SPX options folks are mostly hedgers and so i don't pay much attention to their activity. It's the OEX guys who are the smart money and have better track record of nailing turns.

Nav,

Apparently lots of folks do not trust this decline. As Mark pointed out the sentiment is confirming the disbelief - that to me appears to be a very bearish sign. At this point I feel quite confident that we can see a deeper decline that might actually forge lower than last week's lows because we are not experiencing the same kind of OS + Bearish levels.

rkd

I don't know about sentiment. But my disbeleif is based on technicals here.

[OEXCHAOS]

To support you, NAV, the cumulative AD data is still positive. For now... M