Edited by ogm, 26 July 2007 - 11:00 AM.
NYMO... very rare occurance. Deeply oversold
#1
Posted 26 July 2007 - 10:58 AM
#2
Posted 26 July 2007 - 11:06 AM
No kidding. I only found 5 occasions in the past 7 years where NYMO looked like this. And yes, thats including the 2001 bear market.
I'll post charts in a bit. Only in 1 case the market had a flatish small bounce over the next few days, but in other cases there was quite a significant tradable rally.
And though I'm not an agressive buyer here, I beleive that holding heavy short positions is too much risk. So I took my profits and waiting for 60 minn summatiuons to turn so I could go long.
minus 300 is not uncommon. minus 70 is nothing.
#3
Posted 26 July 2007 - 11:21 AM
No kidding. I only found 5 occasions in the past 7 years where NYMO looked like this. And yes, thats including the 2001 bear market.
I'll post charts in a bit. Only in 1 case the market had a flatish small bounce over the next few days, but in other cases there was quite a significant tradable rally.
And though I'm not an agressive buyer here, I beleive that holding heavy short positions is too much risk. So I took my profits and waiting for 60 minn summatiuons to turn so I could go long.
OGM.......of course internal low likely will preceed any price low, bounces notwithstanding....
#4
Posted 26 July 2007 - 11:40 AM
#5
Posted 26 July 2007 - 11:44 AM
OGM..where is the MCO currently?
I have a different formula on my system for some reason, but its at February bottom level. Would be under 100 in normal formula. Its actually slightly below February bottom .. and I mean not the 500 dow point drop day, but the very bottom day. 03/05/07....
My MCO that day closed at -305, today its -326
Edited by ogm, 26 July 2007 - 11:47 AM.
#6
Posted 26 July 2007 - 11:55 AM
Edited by ogm, 26 July 2007 - 11:58 AM.