16 replies to this topic

[arbman]

Just wondering...

[Rogerdodger]

Gene Inger used to always say that crashes come from oversold markets.

[dcengr]

I'm going to guess that we're going a bit lower with the gap down, and bounce off. Then the lows are in for a few weeks. Dunno how much of a bounce.. I suspect it may go sideways too.

[arbman]

I was thinking that the oversold market could not even bounce for a day, it got sold on volume the next day. This is not how bottoming markets should behave. Everything was fine until the gap close, then toward the closing fhit sit the fan...

[kaiser soze]

I think Nasdaq may drop 5-8% in the next two trading sessions for reasons different from semi's though I like it that he has similar targets. I dont think the S&P will drop anywhere as much. I also think the brokers are going down bigtime. That said, I'm only partially putting my money where my mouth is. I have no short stock positions. I hold some GS puts and some QQQQ puts, together about 5 % of my trading capital.

Edited by kaiser soze, 31 July 2007 - 10:24 PM.

[arbman]

I'm going to guess that we're going a bit lower with the gap down, and bounce off. Then the lows are in for a few weeks.

Dunno how much of a bounce.. I suspect it may go sideways too.

You know I am thinking 70-80% of the traders out there must be thinking the same, if you are 10% experienced with trading you would know that this is a deeply oversold market and it should bounce, but what is the market doing instead? It is selling every opp it can get...

[atlasshrugged]

I'm going to guess that we're going a bit lower with the gap down, and bounce off. Then the lows are in for a few weeks.

Dunno how much of a bounce.. I suspect it may go sideways too.

You know I am thinking 70-80% of the traders out there must be thinking the same, if you are 10% experienced with trading you would know that this is a deeply oversold market and it should bounce, but what is the market doing instead? It is selling every opp it can get...

i think spx cash trades down to 1413 and ndx cash down to are you ready....1839!!!

[ZIDANE]

I'm going to guess that we're going a bit lower with the gap down, and bounce off. Then the lows are in for a few weeks.

Dunno how much of a bounce.. I suspect it may go sideways too.

You know I am thinking 70-80% of the traders out there must be thinking the same, if you are 10% experienced with trading you would know that this is a deeply oversold market and it should bounce, but what is the market doing instead? It is selling every opp it can get...

i think spx cash trades down to 1413 and ndx cash down to are you ready....1839!!!

NDX: Closer to 1700-1750 when it's all said an done! From there we shall see another parabolic rally to new highs on all major indices. Nasdaq to 3000+.

[arbman]

i think spx cash trades down to 1413 and ndx cash down to are you ready....1839!!!

... and that's tomorrow?!?

[hedgehawk]

SPX 200 day simple moving average is 1449 and we will slice through that on the open. SPX weekly chart.........trend line on weekly chart back to early 2006 will be violated tomorrow on the open and lower BB is at 1421. SPX Montly chart.........trend line on monthly chart back to early 2003 projects to 1410 zone. I vote for support from this zone 1410 to 1420 on SPX cash. Although it seems to early, 1410 seems like a good risk reward for entry.