2 replies to this topic

[Mr Dev]

The markets are always shifting,... I expect further weakness ahead for the NDX while the RUT may stabilize.. or act stronger on the upside. This could happen as soon as tomorrows open. I still have some RUT Longs from yesterday I'll likely exit tomorrow,..I also took more off the Strong dollar position and moved to cash,...as I prepare again for some fast trading in the NDX . If the NDX can open +.5 - +.75% stronger I'll start taking a short positions then.. and again at the close. There may be some strength left for the RUT as some big shorts there haven't covered yet and...I feel they won't want to hold going into next Tuesdays FOMC. But the NDX is not set up the same as the RUT at this time. So as the two sync up again the RUT needs to pop a little and the NDX needs to start to stall. This will likely move the technicals into a closely watched MAKE OR BREAK position by Monday.... as they usually do leaving ...the all important comments from the FeDs as the ...proverbial ..carrot or stick! * * Trade safe as the NDX and Dow 10m signals triggered BuY yesterday and now seen on for all four markets,.. the 30m BUY sig also triggered on the DOW and NDX today with the SP and RUT ending the day just at the cross over line. Be safe as there should be some more selling on the next 10m sell for the NDX ahead,..but it's better to trade what you SEE and not what you Expect may happen.

Edited by Mr Dev, 02 August 2007 - 04:08 PM.

[ogm]

Whats wrong with next Tuesday's FOMC. You seriously think that with the housing debacle and all interest rates but treasuries going through the roof, Fed will do anything ? Their hands are tied.

[pdx5]

Not only their hands are tied but they can't even run and hide since their feet are tied also With US$ hovering near all time low, any drop in interest rate will cause a free fall. And if that happens, all those imported goods are suddenly going to cost more. Especially OIL. And then we get inflation galore which the Fed is supposedly protecting us from. And if they try to defend the dollar by raising rates, the sick patient (housing) will be doomed. So, yes they are caught between a rock and a hard place with no where to run and hide.