9 replies to this topic

[OEXCHAOS]

106. Strong signal. I'm guessing it's a buy. Now, all we have to do is figure out where. Probably lower, but let's watch how the market acts at yesterday's lows. I'll post the current chart as soon as I make it. Mark

[relax]

Thanks Nasdaq Composite did not break the trendline from january 2004 top through february 2007 top, so so far we just have a back test maybe we test lows of yesterday but that would seem like a great buy

[rkd80]

NQ is definitely the strongest should have bought into that instead of ES. However ES is currently holding yesterday's lows - but its only on a 30 min chart and can change on a dime.

Thanks

Nasdaq Composite did not break the trendline from january 2004 top through february 2007 top, so so far we just have a back test

maybe we test lows of yesterday but that would seem like a great buy

[OEXCHAOS]

Here's the chart.

http://www.traders-t...ost&id=5800.png

[traderpaul]

106. Strong signal.

I'm guessing it's a buy. Now, all we have to do is figure out where. Probably lower, but let's watch how the market acts at yesterday's lows.

I'll post the current chart as soon as I make it.

Mark

Mark, I don't see any fear of a melt down, do you???....None, zip, nada....they all looking for support to hold...

[OEXCHAOS]

MarketWatch felt compelled to send me this when we were down 7 points in GLOBEX.

Bulletin: U.S. stock futures plunging in signal that Thursday's weakness has further to go

I'll let you interpret that.

[Woody]

10:35 am

[traderpaul]

MarketWatch felt compelled to send me this when we were down 7 points in GLOBEX.

Bulletin: U.S. stock futures plunging in signal that Thursday's weakness has further to go

I'll let you interpret that.

Mark, Sometimes I listen to the news radio to get a feel of this market......When the market went up big they quoted the numbers (stats) two times/ three times.....When the maket was down big they quoted the numbers just one time....

[OEXCHAOS]

The more excited they seem about something unexciting, the more I'm inclined to fade it. I'll come out and say it, subscribe to their "alerts" and fade the excitement. They were all revved up about tiny Dow gains when it was literally at the highs. I told my partner, "here's the top..." This morning, when they got all excited, you could have bought at around 147600-147800. I mean they NAILED the GLOBEX lows. That was a nice trade. After 15-20 points, though, I'd have been gone, in this market. In fact, I'm going to start officially taking those fade-trades. They're uncanny. Mark

[OEXCHAOS]

I did NOT go long today anywhere. I did close some Rydex 2X Russell shorts at the close. I'm happy with that. Mark