14 replies to this topic

[U.F.O.]

Where were the buyers today? Answer? Checking their sub-prime positions. "Get short...have fun." (Many charts.)

U.F.O.

DE/AD Q's still on a sell.


MACD's on a fresh sell from "very" elevated levels.


Klinger says "sell".


Fresh CCI sell signal.


Lastly, Binaries are about to cross negative. They are the slowest of all the indicators and sometimes the most telling. By the time they cross, either manna or hellfire are about to fall.

[Jnavin]

So, let me see if I understand this correctly: that would be a SELL.

[U.F.O.]

Si', Senor. U.F.O.

[selecto]

Mañana. [attachment=5775:attachment]

[mss]

So, let me see if I understand this correctly: that would be a SELL.

been on SELL from 7/18


btw: posted to yours below.

[U.F.O.]

Been with'ya for a while mss. Good luck! U.F.O.

[ogm]

Here is the thing. Daily chart definitely look like crap. But as surprizing as it is, what looks like only the start of the decline on daily, actually looks very oversold on hourly.

60 min summations are in the buying zone. They didn't turn yet, and I wouldn't jump in with leveraged longs ahead of that turn, but.... the turn is imminent. Its a matter of a couple days here. They do need to reset at least back to zero lines, before we get another leg for the decline. The question is what form will that rally take. I can be a lower high, or it can just bounce around in a flatline. But I don't see any strong selling from here at this point. ( Then again I was fooled by these a couple times, when the market goes down as the 60 min summations make double or tripple bottom), but I wouldn't bet on that right now.

As an example of the divergent set up look at this past high. The summations turned down, but the market still poped to new high.. however it had no choice but to lose it as internals were falling.

Edited by ogm, 25 July 2007 - 08:15 PM.

[U.F.O.]

If you trade a broader trend on 60 min charts. you'll spend a lot of time in jail. Unless, of course, you're a day trader, in which case intermediate trend is less important. U.F.O.

[ogm]

If you trade a broader trend on 60 min charts. you'll spend a lot of time in jail. Unless, of course, you're a day trader, in which case intermediate trend is less important.

U.F.O.

I trade 60 min charts with the perspective of daily/weekly charts. But if you use leverage, like options, it takes a lot of guts to ride these bounces in a downtrend. I prefer covering when oversold, and looking for reentry. But sometimes reenttry never comes, like in homebuilders

[U.F.O.]

I hear you ogm. All this takes guts. Best. U.F.O.