1 reply to this topic

[ogm]

I said before that I noticed TRIN 2+ occurs in 2 cases... initiation and termination of a move. We had 2+ trin day when the market just cracked.... now we have an even higher trin day after this dump. I though the first one was initiation... and I still think this one is termination. Washout. At least ST. I'm still 75% long and looking to add on Monday, if the selling continues. What I'm buying is.. Cleantech, and income payers. Now.. yesterday we had 800 new lows on NYSE, but mostly because of different fixed income ETF's getting decimated. The common stocks lows number was relatively low. Today compeltely the opposite.... 200+ common stocks new lows.. very high number in a while, on the other hand total number is 350.. much lower then yesterday. What happend is.. the stuff that I was buying, those income funds... they all bounced and closed green. A lot of them did. Does it mean that the credit event is over ? That the prefered stocks and other stuff have found support ? Is the market now comfortable with risk/reward on yields ? I think there is a very good chance of that.

[arbman]

I am looking to buy at the 200 dma with the rest of the crowd