20 replies to this topic

[NAV]

Another sell today at 10:00 Est. FWIW. Too risky to play this one, as we have dropped 18 points from the top already. And 60-min is already oversold. So i would wait for a bounce to short this one.

Edited by NAV, 03 August 2007 - 09:05 AM.

[Venatici]

Another sell today at 10:00 Est. FWIW.

Too risky to play this one, as we have dropped 18 points from the top already. And 60-min is already oversold. So i would wait for a bounce to short this one.

Non farm payrolls having a word on the decline?

[Russ]

Not sure what you are using but the standard stochastics on the 60 are nowheres near being oversold, looks like the start of the test of Aug 1st's low.

Another sell today at 10:00 Est. FWIW.

Too risky to play this one, as we have dropped 18 points from the top already. And 60-min is already oversold. So i would wait for a bounce to short this one.

[vitaminm]

Ym is firm at 13400 Ym is firm at 13400

[eminimee]

I was stopped out at 1475 with a trailing stop from 1446...long again at 63.50 stop 60.25...if stopped out on this...I may be going short..

Edited by Teaparty, 03 August 2007 - 09:42 AM.

[NAV]

Not sure what you are using but the standard stochastics on the 60 are nowheres near being oversold, looks like the start of the test of Aug 1st's low.

Another sell today at 10:00 Est. FWIW.

Too risky to play this one, as we have dropped 18 points from the top already. And 60-min is already oversold. So i would wait for a bounce to short this one.

Russ,

This is an eternal debate on message boards. There are fast Osc and Slow Osc. When Fast Osc gets oversold, you get a dead cat bounce. But that's a bounce to be sold. When the slow one's get oversold, you get rallies. Right now, the fast one is oversold. But you are right, the slow one is not, and has much room to go. I was just throwing caution for those who would try to get short when the signal got generated as there was a possibility of a big whipsaw.

[OEXCHAOS]

I've got things turning back up and decent looking volume. Sentiment supports, but it's late in the game, too, for this rally. WWW is coming up next week. Mark

[hiker]

1. selling rallies to SPX cash 1468 to 1470 looks like what is happening to me..Resistance is holding back advances...not much conviction on the part of buyers... 2. sellers also reluctant as 1454 to 1459 is approached. trading range for now. 1465 seems to be a middle of the range R that is operative, with price trading above and below

Edited by hiker, 03 August 2007 - 11:46 AM.

[arbman]

NAV, did you take the short trade now? It seems like it wants to roll over for the day one more time, it could be a decent entry here for an afternoon sell off...

[Russ]

Russ,

This is an eternal debate on message boards. There are fast Osc and Slow Osc. When Fast Osc gets oversold, you get a dead cat bounce. But that's a bounce to be sold. When the slow one's get oversold, you get rallies. Right now, the fast one is oversold. But you are right, the slow one is not, and has much room to go. I was just throwing caution for those who would try to get short when the signal got generated as there was a possibility of a big whipsaw.

Nav that makes sense, i am just using a slower stoch and looking at 5, 30 and 60 minute charts. I am currently short er2. Spx cash if finding support on the 50% retracement from last march's low so far. Could be an inverse H&S is setting up here on the 30 or 60 minute sxp charts, nonetheless Vix looks like it can go up a lot more.

Edited by Russ, 03 August 2007 - 11:59 AM.