4 replies to this topic

[U.F.O.]

In a long selloff. Maybe a nice pullback, but then a "run for the roses" on this leg of the multi-year bull market. Then again.....long term, all we can ever have in a capitalistic economy is a bull market...what? How would one fund pension plans in a 40 year bear market? Impossible. The system "has" to be bullish long-term. I think this is what Cheif figured out 30 years ago. (1 chart)

U.F.O.

[Iblayz]

Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Buy Signal Above to be ignored except by bots (it there are any) I have closing sells on the NDX, COMP, SPX, DOW, OEX, SOX and NYA.

[Rogerdodger]

I'm open.
Some previous red days with long tails like this show potential for more selling, since many shorts may have covered into the close.
Several previous days show a trend day down.
OPEX can be tricky, so I'm chillin.

Todd Market Forecast:

Accordingly the Dow was down almost 150 points intra day, but came back strongly in the last 30 minutes. We didn’t actually like the late rally. It’s as if investors have been trained to buy weakness immediately. They aren’t even waiting for the session to end any more. That smacks of unhealthy optimism.

However, the CBOE put call ratio was very high on Wednesday. Single day readings above 1.00 tend to occur in the vicinity of short term trading bottoms. Today the ratio was 1.12.

Edited by Rogerdodger, 18 July 2007 - 11:11 PM.

[NAV]

Todd Market Forecast:

Accordingly the Dow was down almost 150 points intra day, but came back strongly in the last 30 minutes. We didn’t actually like the late rally. It’s as if investors have been trained to buy weakness immediately. They aren’t even waiting for the session to end any more. That smacks of unhealthy optimism.

However, the CBOE put call ratio was very high on Wednesday. Single day readings above 1.00 tend to occur in the vicinity of short term trading bottoms. Today the ratio was 1.12.

Hmmm...Mr Todd must have missed that move, waiting for the session to end. In fact, the hourly momo turned up around 1:00 Est time. Now why would anyone wait for the session close, when the selling momentum exhausted before that ? The grapes that i didn't pluck are ...

[ogm]

He's right though. People are trained to buy the dips.