7 replies to this topic

[Vector]

Back up the truck and start loading longs or forever hold your peace

http://stockcharts.com/h-sc/ui?s=$NYH...id=p68926463211

[ogm]

Back up the truck and start loading longs or forever hold your peace

http://stockcharts.com/h-sc/ui?s=$NYH...id=p68926463211

So you think that huge expansion of new lows, while the large cap indexes are near all time highs is a good thing ?

[Caduceus]

Thanks for pointing this out. In recent history this has produced good buying oppurtunities around the -.10 level. Back in the late 90's it was a little more "hit and miss". When it failed in 98' we lost about 12% in 3 days. The position of the NYSE MCO was also similar. I am going to wait until the dust settles. [attachment=5777:attachment]

[atlasshrugged]

Thanks for pointing this out.

In recent history this has produced good buying oppurtunities around the -.10 level.

Back in the late 90's it was a little more "hit and miss". When it failed in 98' we lost about 12% in 3 days.

The position of the NYSE MCO was also similar.

I am going to wait until the dust settles.

[attachment=5777:attachment]

According to the chart in 98 the mkt had already broken its uptrend, WE havent broken any significant moving averages yet in the current mkt

[gorydog]

Thanks for pointing this out.

In recent history this has produced good buying oppurtunities around the -.10 level.

Back in the late 90's it was a little more "hit and miss". When it failed in 98' we lost about 12% in 3 days.

The position of the NYSE MCO was also similar.

I am going to wait until the dust settles.

According to the chart in 98 the mkt had already broken its uptrend, WE havent broken any significant moving averages yet in the current mkt

Look at the 5% index of the MCO summation back to '98. The level we are at now was a short term bottom AS LONG AS the trend was intact. So, more down? possible, short term bottom -likely

GD

[Caduceus]

ironcross, I agree, which is why I am not going to look for shorts at this point (especially VST). I will await a low with positive divergence in the NYSE mco, mcsum, airdale's sma of the AD line, rsi, cci, SSBS, or another measure of momentum or some combination of the above. I will also keep a close eye on sentiment and the COT report. The fact that the MCSUM of the NYSE has moved below zero has me paying attention as well as some of the options work jason goepfert has recently posted to his site. Longer term I think we are going much higher. I have been and will continue to focus principally on the gold shares as I think the potential there is staggering. I am heavily long from lower levels and added a little today. P.S. I still remember your call at the lows in 03' Edit: I realize a good setup may not appear the way I would like, but sometimes you have to be ready to miss a trade to get that setup.

Edited by Caduceus, 25 July 2007 - 10:49 PM.

[Caduceus]

Just a quick follow up with a more relevant timeframe. 2005: [attachment=5780:attachment] Current: [attachment=5781:attachment]

[Iblayz]

Back up the truck and start loading longs or forever hold your peace

It may be difficult to back up a truck rolling downhill with no brakes.

Edited by Iblayz, 26 July 2007 - 08:30 AM.