10 replies to this topic

[SemiBizz]

SPOOS + 3.50 presently....

This chart shows that the Nasdaq has been making highs on quality of volume... and that's a hell of a lot better than what it did off the bottom in August of '06.

http://bigcharts.mar...=NO_SYMBOL%.gif



AND LADIES AND GERMS.. WHEN DO YOU THINK WAS THE LAST TIME NASDAQ WAS ABLE TO STRING 5 DOWN DAYS IN A ROW ???? (in other words, establish a down trend)....

it wasn't in the so-called "Crash" in March...

it wasn't in the Options Fraud downturn a year ago last spring...

it wasn't in 2006...

You have to go all the way back to October 2005, and then we turned the trend back up quickly thereafter in November. The same applies to March of 2005, we went turned down and turned back up in weeks.

I think there's far too many looking at the fundamentals here for an excuse to sell. I'll tell you this categorically... there's no TECHNICAL reasons to sell here.... YET !!

[ogm]

I'm sorta on the fence. But as for the shorter term.. look on financials. They are in trouble. Possible credit crunch developing. On Friday they were the weakest sector. For example... last Monday only 7 new buyouts were announced, vs 83 on Monday June 4th. Thats why BX is sinking from the day their IPO opened. Quite a slowdown in momentum. Risk apetite is changing in the lender land. And thats on top of 200+ bil in CDO's about to be downgraded. There are some serious issues there. Naz may be looking OK, but financials aren't. Lets see who wins.

Edited by ogm, 01 July 2007 - 09:30 PM.

[SemiBizz]

Come on people... look at the freakin SMH... got 2 gap support the last one was tested on lighter volume... this thing is going to THE MOOONNNNNN !!!!!



http://bigcharts.mar...74&mocktick.gif



This rally is not going to end on a whimper.... What the heck are ya'll thinkin????

[SemiBizz]

What are you worried about? OIL PRICES ??? GUESS WHAT THE MARKET LOVES HIGH OIL PRICES !!

http://bigcharts.mar...&mocktick=1.gif



Look at that even the NASDAQ LOVES HIGH OIL PRICES>>>>>>>>>>>

[ogm]

What are you worried about? OIL PRICES ??? GUESS WHAT THE MARKET LOVES HIGH OIL PRICES !!

I love high oil prices. Since I have a bunch of ethanol stocks.

But oil prices aren't an issue. Credit crunch is. Credit crunch = P/E comression.

[selecto]

On the SPX weekly, we have had 3 attempts with volume at the high, and have failed, and are now trading lower.
Hard to get too excited in here.

Edited by selecto, 01 July 2007 - 10:01 PM.

[SemiBizz]

We've been building SEVEN YEARS of cause to test the weekly 3/24/00 high of 1552.87. There is quality of volume all the way up... We're not going to get this close and fail... We're about to see the blowoff of all time !!

Edited by SemiBizz, 01 July 2007 - 10:16 PM.

[skott]

I agree. It will go up. One last hurrah for da boyz and then let em rot in there own derivative crapola!

[arbman]

Why is everyone so BEARISH ????

No I am nearly bearish, not enough bearish to sell, I will get there most likely on Tuesday. I will continue to scalp and daytrade in the mean time...

Once it tests lower later in the week, I might get more bullish than bearish...

[eminimee]

Comments on Chart. re: the blowoff scenario.

Let's keep FXI (China) in mind if it will add support to the frenzy.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=5&mn=3&dy=0&i=p64146776434&a=110735547&r=2219.png

http://stockcharts.c...6258&r=2038.png