15 replies to this topic

[NAV]

on both 120-min and daily NQ charts. Just don't like the fact that there was no follow thru post-fed and the way they closed. Bye bye longs. Now back to shorts tommorow.

[denleo]

I will be shorting them tomorrow, but only for a day-trade or very short-term trade. I am expecting more chop then a down swing. Denleo

[Tor]

Hate to agree in a way, but it is what I saw too. maybe will reach my 1476 target after all in an overall slop and chop the way I see it.

[eminimee]

Help me!! Pick one for me. I suppose I could short ES and go long NQ



http://stockcharts.com/c-sc/sc?s=$OEX&p=60&yr=0&mn=5&dy=3&i=p68612109552&a=81733615&r=7441.png

http://stockcharts.c...0310&r=2262.png

[rkd80]

hey tea, i am short ES and long Qs/IWM. gotta hedge until it figures out what it wants to do.

[hiker]

teaparty..I wrote down the downside obj. fib gave the other night in chat..only if things get ugly..i do not remember right now what he defined would trigger these in play - compq trendline support 2480, march lows ae 2350 12,850 obj for Dow 1440 for spx

[relax]

logical downside opjective is the february high

teaparty..I wrote down the downside obj. fib gave the other night in chat..only if things get ugly..i do not remember right now what he defined would trigger these in play -

compq trendline support 2480, march lows ae 2350

12,850 obj for Dow
1440 for spx

[thespookyone]

Nav, saw those, and the candle on the Q's not that pretty, either. Sold my in the box Q calls and bought July 47 puts at .40 when the market did not go verticle. I only bought half my usual position-buy may fiem that quickly-or back it up with a 46 strike. I think there were a lot of people hoping for a "softening of the inflation wording"-that they certainly weren't going to get. The Fed meetings before this were good for 100 point pops plus, the fact that this one isn't-spoke to me, amongst a few other things-including a handfull of bad candles, as you mentioned. When earnings start rolling in, I doubt that's pretty either. At any rate, I like my chances here. Spooky

Edited by thespookyone, 28 June 2007 - 04:01 PM.

[SemiBizz]

I think we're going higher for a couple more weeks... You have to regard all these bearish technical setups as....







Holiday and Summer trading ... Light Volume makes for rape and pillage. Don't even think of position trading this short. Do yourself a favor, take some time off... at least until after next week... If we see strong volume come in for some reason, that's another story, but as long as it's light, don't kid yourself this market isn't going to give it up... This board is entirely too quick to turn bearish, even after a scorch like the last two days, seems like pattern recognition is out the window... Yesterday,at the bottom, even after 25 pts Nasdaq rally in two hours, the bearishness stubbornly remained... This thing isn't going to just drift down on this light volume, there are too many "interested parties" with "gentlemen's agreements" to maintain the big fat status quo. At least until 7/12.

Edited by SemiBizz, 28 June 2007 - 06:35 PM.

[thespookyone]

Semi-how about that negative divergence between the soxx and QQQQ's today? And for the most part, so far there has been no shortage of volume on the drops.

Edited by thespookyone, 28 June 2007 - 07:52 PM.