15 replies to this topic

[U.F.O.]

Watch the chart, don't swing-trade the range. (Between the dotted lines.) 1 chart

U.F.O.

Edited by U.F.O., 26 June 2007 - 08:50 PM.

[selecto]

A bounce off the trendline does seem fairly orderly - maybe too orderly.
Carl Futia thinks we touch and go also.

[U.F.O.]

Hola selecto. Personally, I'd like to see a crushing close below trend. Reverse and play a 3 month selloff. However, I don't feel confident right now of that happening. How you been doing? U.F.O.

[Mr Dev]

Watch the chart, don't swing-trade the range. (Between the dotted lines.) 1 chart

U.F.O.

\

hey buddy ,,,howya doing?
feel like sharing with us, more of your usual stuff?

[ogm]

Hmm.... Either that or gap down and go. At least thats the imperession one would get from looking at the daily summations and bullish % charts. In any case doesn't look like some kind of rally formation to me.

Seems like a lot of bottom catching around, which is surprizing, since the market isn't looking that hot.

[U.F.O.]

The bullish formation is the price formation itself. Clean, within the range, always holding a tight support line. Summation is just one indicator that can break negative. Price trumps all. We'll see over the next week or so. U.F.O.

[ogm]

The bullish formation is the price formation itself. Clean, within the range, always holding a tight support line. Summation is just one indicator that can break negative. Price trumps all. We'll see over the next week or so.

U.F.O.

Yes, price is holding ... for now, but.... I'm really hard pressed to find even a remote possibility of a serious rally here.

[U.F.O.]

Dev....My Man! Not much more to share. A lot of my indicators have crossed negative short-term. The refusal of price action to break (as of yet) any reasonable support levels leads me to believe this selloff is a stock 101 bear trap. We'll see soon I imagine. U.F.O.

[selecto]

Hi, UFO. Its good.

I have mentioned that there is a wall of support that the bear is going to have to successfully engage before any happy dancing starts.
Good news for the bear is that there is nothing, zero, zip, nada below, so that on the various index wedges, leg-in-leg-out targets way below would be in play.

Meanwhile, short large the homebuilders and (finally) loving it. Underwater USO, and waiting for the class action lawyers to contact me. Still long QID, hanging, waiting to catch a wave, or not. We see.

Just for fun, watching this sucker.

Edited by selecto, 26 June 2007 - 09:40 PM.

[U.F.O.]

ogm, in general I agree. But when I don't see remote possibilities in securities markets is usually when I lose the most dough. :-( Best! U.F.O. selecto, don't they have legalized prostitution in NZ? :-| Just wondering........ U.F.O.