18 replies to this topic

[NAV]

10:30 CIT. Nice place to book some profits for those daytrader types like me and relax for the next couple of hours, unless it turns out to be a trend day and forces me back in.

[da_cheif]

covered es short reselling at 1532

stopped for a pt hit.....reselling 1531.50

Edited by da_cheif, 10 July 2007 - 09:45 AM.

[jjc]

Today was SOOO predictable. Usually difficult to assess open ... but TODAY had a HUGE pile of indicators.

Cheers, C.C.

OK CC. Let us enumerate them. Perhaps we can learn something from each other:
1) Large Gap Down. (8:00 ES gap and 9:30 SPX).
2) Unusually high volume on ES starting at 5:00 AM ET.
2) DAX and FTSE.
3) 7:30 move down in USDJPY
3) Yesterdays Close lofty as compared to the 5 day Volume Weighted Average of price (ES).
4) 3 day ROC rollover on all indices.
5) Yesterdays Money Flows out of SPY, IWM, XLF.
6) OEX PC?

[da_cheif]

flat the es...... that mite have been it.....as the 38.2 support so far holding like a rock

Edited by da_cheif, 10 July 2007 - 10:01 AM.

[eminimee]

I'd be a buyer of another low at 1527 with a pretty tight stop...otherwise ..back above 1538.50 for more than a tinkle and we might have some sort of bottom in

[ogm]

yup ...if history is any guide....also there is this cycle

http://www.geocities...soacs64/4yr.jpg

from moorso on ww

http://www.geocities...acs64/4year.jpg

Hmm.. a lot of damage can be done to the market before that 4 year cycle bottoms in Sept/October. A LOT.

[da_cheif]

im glad ur worrying about it for me.....thanks

[rkd80]

chief, i am confused by that chart. i thought the 4 year cycle low was hit last July, what is link of yours showing?

[da_cheif]

4.5 yr