4 replies to this topic

[Mr Dev]

Although with the NDX being pushed to NEW highs this chart may be early...but with us again gapping

up into those NEW highs who really knows if we fill first before advancing further...that is the question

I'm focused on .

TO make it more interesting this chart is anywhere from a 1/2 day to 3 signaling to me .. a reversal is nearing.


IF not already in the market short,...I wouldn't be really aggressive here,,...as there should be time for you

to see it coming elsewhere.

If Long I would certainly light up in those positions.

If already short well.....there may be a day or two of pain ...so asses your tolerance....and put on your managing hat.

Enjoy

Edited by Mr Dev, 29 June 2007 - 09:27 AM.

[rkd80]

heya dev, closed all my longs yesterday and i *would* short this market, but like you pointed out - next few days are strong....so ill just wait out methinks. or nibble on some longs after a pull-back. this beast will not go down prior to 4th of july unless something tragic happens.

[Mr Dev]

So far a trip back to the previous days Highs of an FOMC day,...is nothing unexpected or out of the ordinary. However,... if we do not pull back into the close....that would be unexpected ...at least from yesterdays pov. Today,...there is alot of liquidity...so chance of the pullback into the close ,...have now be reduced in percentage terms. We probably get a flat market for most of the day if it is to sell off,..however any drift lower would probably mean they pick it up again and close higher. This is all for day traders you see,... with my position I don't have to think ...just watch till the close to see what happens. Time to go shopping on ebay.... actually I've already been ...

Edited by Mr Dev, 29 June 2007 - 09:48 AM.

[kemo1k]

I noticed a large Temporary Open Market Operations add yesterday. I do not see it today. Where are you seeing another large add today? Thanks.

[ogm]

I'm not shorting this thing yet. Just select stuff like ADBE, that I never covered. Financials pretty weak, though. Which is kind of surprizing. Otherwise A/D looks very strong. My favorite indicator, 60 min summations aren't even close to topping out yet. And what is even more suspect, daily summations seem to be turning up today too. I don't know how much steam this thing has in it, and how much iot can go up, if anything, but I don't think its a short yet. I'm mostly long a bunch of Alternative energy stuff, which seems to be doing great with oil skyroketng, and congress passing new energy legislation. And long some QQQQ calls.

Edited by ogm, 29 June 2007 - 10:34 AM.