20 replies to this topic

[NAV]

The day NQ started it's rally, i was excited and called out and went long in the morning. That day and the next day morning saw NQ gain 48 points !. The next six days or rather the last six days, we have been churning up slowly in a small range. That's a gain of 38 points in 6 days averaging puny 6 points a day. The way bulls are screaming and bears are fleeing is nearly comical. It's not a breakout folks...Not yet !. It 's price compression accompanied by bullish sentiment expansion. That's a precursor to a sharp selloff !. Even Atilla is long now P.S - I don't see PRICE (range) expansion or VOLUME expansion or BREADTH expansion. We need to redefine "Breakout"! Geez !

Edited by NAV, 06 July 2007 - 12:58 PM.

[ogm]

Equity put call was as low as 0.48 today. Still holding around 0.5. Same deal yesterday. Excitement in the air. Calls are being bought in droves.

[ChickenLittle]

Yup Something's brewing.

[ogm]

Today will be probably one of the lowest volume days of the year. NYSE didn't even make 800 mil shares yet. And its 2 PM. Naz barely made 1 bil .. Difficult environment. When there is no volume. You don't know where its going. The low volume levitations can last a while.

[SemiBizz]

There's nothing bearish going on here, as long as the retracements are shallow.. uptrend stays in place... As long as SOX stays over 512.97, there's no reason to be short. I'm waiting... could be waiting a few more days while more bears are baited and "hooked"...

Edited by SemiBizz, 06 July 2007 - 01:11 PM.

[NAV]

Today will be probably one of the lowest volume days of the year. NYSE didn't even make 800 mil shares yet. And its 2 PM.

Naz barely made 1 bil ..


Difficult environment. When there is no volume. You don't know where its going. The low volume levitations can last a while.

Talk about low volume. ES is trading 15000 contracts every 30-min. NQ about 5000... YM about 5000. Yikes !
What happened to those 200,000 contracts per 30-min days ? No point flogging a dead horse here. I am off to enjoy my weekend.

Have a good weekend folks.

Edited by NAV, 06 July 2007 - 01:11 PM.

[bullishnot]

agreed, sharp sell off coming soon. let the arrogant bulls yak it up, i'm fading this crap

[denleo]

Profit on low volume = profit on high volume. I enjoy it just as much. Denleo

[NAV]

I gave a wrong example. ES went from 1492 to 1528 in a one day and 2 hours the next day. The next six days has seen ES moving up 12 points. That's an average of 2 ES points a day ! This market is invincible !

Profit on low volume = profit on high volume. I enjoy it just as much.

Denleo

Denleo,

I can enjoy profits even with no volume .

You reminded me of one my friends, who used to say during the Nasdaq bubble "Even if a company does not exist, i bet these maniacs would trade up that stock to triple digits as long as there's a ticker symbol !".

Edited by NAV, 06 July 2007 - 01:21 PM.

[ogm]

Profit on low volume = profit on high volume. I enjoy it just as much.

Denleo

Its only a profit after you cash it in