8 replies to this topic

[Mr Dev]

WoW just can't say much more than they may have sucked shorts in again.... or they expect something nasty. This is another pure attempt at manipulation at its finest.

[rkd80]

WoW just can't say much more than they may have sucked shorts in again.... or they expect something nasty.

This is another pure attempt at manipulation at its finest.

i was really expecting SOME kind of sell-off, as always mr. market does the opposite.

how u playing this one today devster, still on the flipped short?

[ogm]

Yes, looks like we may break out to new highs on the NDX. 60 min summations turend up yesterday by the close from oversold and the market is close to the highs. Call me a bull I do think we're a bit overstreched VST, so I'm going to try and find a pullback to get long on top of the Q calls I already picked up. It just feels right to be long here. May be a mistake.

Edited by ogm, 28 June 2007 - 09:19 AM.

[rkd80]

i too am looking for a long entry and it also 'feels' right. but... trading on feeling - not so good. but with half my indicators showing buy and half showing sell, gotta draw the line somewhere.

[Mr Dev]

how u playing this one today devster, still on the flipped short?

well, I'm certainly not playing 100% of the funds..we are mixed here with the technicals shooting up to a buy

from oversold levels,... now reaching overbought levels on the short term stuff,

I entered about 20% short at the close and I've increased that to 50% here after the open ..as I still expect

an opportunity to exit shorts with a profit.

I think we need to see how the market can react to short term overbought levels in the face of Negative daily

and Weekly signals.

With all of the liquidity coming in today...If we somehow do close lower......I doubt we stay there for long

before we bounce again.

THis is another good day if you have been bearish ...to sit and watch ....if you are bullish... 50% for longs

and trailing stops ....for those that use them....

Dats how I see it.

Best

Edited by Mr Dev, 28 June 2007 - 09:37 AM.

[ogm]

i too am looking for a long entry and it also 'feels' right.

but...

trading on feeling - not so good. but with half my indicators showing buy and half showing sell, gotta draw the line somewhere.

Its a feeling based on technicals

Take a look at the daily and 60 min charts of NYX or NDAQ for example. I just bought bought. daily charts are at loong term support, in a huge bullish consolidation triangle, that was lasting for weeks.

60 min charts oversold and starting to bounce.

Or AMAT monthly charty for example that I posted earlier. That thing is going up, and the QQQQ monthly starting to look like that too.

By no means this market is out of the woods yet, but its starting to look like that weakness in internals was masking bullish consolidation in a lot of stocks over the long period of time. And if its about to turn, it will run very hard.

[Mr Dev]

Hmm not much company on my side..... you guys must know I like that.... but with all the liquidity today ...I'm actually at a loss for words except ....I might have it wrong...thus my partial position.

Edited by Mr Dev, 28 June 2007 - 09:42 AM.

[rkd80]

the longer we continue to chop sideways like this the more bullish i am getting..i am viewing this as a spring that WANTS to burst upwards and the fed is merely an excuse. it is an excuse to rally despite eroding strength and the fed is always a good scapegoat for that. rally by EOD, sell off tomorrow, continue rally Monday, Tuesday. my FF. done.

[Data]

The 40 billion dollars or so in Treasury repos start to be repaid in mass starting today. Looks for Securities Lending to also increase at end of month.