8 replies to this topic

[kaiser soze]

Three ninety percent downside days, two other 80% downside days in the space of ten trading days.

According to Lowry's, thats not a washout. Its a trending decline. The trend is down. I think the only bonafide signal of a trend change would be the appearance of a 90% upside day or two 80% upside days in quick sucession.

Amazing day. Trading too feverishly to make any real-time posts.

BTW, those OEX weeklies rock (if you get the direction right on a wide-ranging day).

[hiker]

kaiser...have just finished scanning the sectors, and the equities within commodity related sectors have few green, if any..with exception of gold and silver stocks, and uranium rails and related had one green..PWX tech 12 green out of many symbols exchanges 3 of 7 green healthcare, biotech & pharma 17 of 60+ green many other sectors have about 1 of 10 green banks, brokers, insurers - 3 green see some X avg volume in some sectors USB is attracted to this $29 area...keep an eye on it...have no idea where the bottom may be, but will respect the 60min or shorter buy signal when it comes..there may be better names in the sector.

Edited by hiker, 03 August 2007 - 04:53 PM.

[gm_general]

Three ninety percent downside days, two other 80% downside days in the space of ten trading days.

According to Lowry's, thats not a washout. Its a trending decline. The trend is down. I think the only bonafide signal of a trend change would be the appearance of a 90% upside day or two 80% upside days in quick sucession.

Amazing day. Trading too feverishly to make any real-time posts.

BTW, those OEX weeklies rock (if you get the direction right on a wide-ranging day).

According to Lowry's, that the indication that a bottom of a selling climax may be coming - what would signal it?

"5. The 90% Upside Day, which signals the completion of the selling climax, usually occurs
within twelve days or less of the last 90% Downside Day. There are, however, a few
notable exceptions, such as Jan. 27, 1975."

No good without this!

[IYB]

The trend is down.

Indeed.

[pdx5]

The market is finally paying attention to funnymentals Until the credit situation is cleaned out, I would not want to be a snorting bull here. However ST traders should be having a field day with the increased volatility.

[kaiser soze]

kaiser...have just finished scanning the sectors, and the equities within

commodity related sectors have few green, if any..with exception of gold and silver stocks, and uranium

rails and related had one green..PWX

tech 12 green out of many symbols

exchanges 3 of 7 green

healthcare, biotech & pharma 17 of 60+ green

many other sectors have about 1 of 10 green

banks, brokers, insurers - 3 green

see some X avg volume in some sectors

USB is attracted to this $29 area...keep an eye on it...have no idea where the bottom may be, but will respect the 60min or shorter buy signal when it comes..there may be better names in the sector.

Thanks for the info, Hiker.

I have also been noticing that defensive sectors are doing better on a relative basis than other sectors. Have not checked today's data but yesterday: Utilities, Medical Devices, Consumer Staples, Healthcare, Biotech & Pharma had the highest MCOs of the various sector MCOs.

USB has been seeing unusual put option volume. The put buyers were proven right atleast today. Bad news about to come out ? My long term targets are 119 for Goldman Sachs and pennystock heaven for Blackstone. But I am not going out and aggressively shorting these. I plan to build a substantial LEAPS put position on bounces.

[ZIDANE]

Three ninety percent downside days, two other 80% downside days in the space of ten trading days.

According to Lowry's, thats not a washout. Its a trending decline. The trend is down. I think the only bonafide signal of a trend change would be the appearance of a 90% upside day or two 80% upside days in quick sucession.

Amazing day. Trading too feverishly to make any real-time posts.

BTW, those OEX weeklies rock (if you get the direction right on a wide-ranging day).

Couldnt agree with you more. The trend has indeed turned down since 2700+. Da Bullz are still in disbelief that this could be anything more than a norma pullback. However, it'll be interesting to see how they perceive this "dip" when the next countertrend rally fails and we head to fresh downtrend lows.

Our 15-20% IT "Correction" remains intact with the first major support target near 2362.

[JAP]

Three ninety percent downside days, two other 80% downside days in the space of ten trading days.

According to Lowry's, thats not a washout. Its a trending decline. The trend is down. I think the only bonafide signal of a trend change would be the appearance of a 90% upside day or two 80% upside days in quick sucession.

Amazing day. Trading too feverishly to make any real-time posts.

BTW, those OEX weeklies rock (if you get the direction right on a wide-ranging day).

Couldnt agree with you more. The trend has indeed turned down since 2700+. Da Bullz are still in disbelief that this could be anything more than a norma pullback. However, it'll be interesting to see how they perceive this "dip" when the next countertrend rally fails and we head to fresh downtrend lows.

Our 15-20% IT "Correction" remains intact with the first major support target near 2362.

Think about this... Just 11 days ago the SPX was 1553. Kinda puts it all in perspective huh?

Reality is finally starting to set in. SPX 1375... here we come.

[Sentient Being]

I think we bottom and soon, draw a trend line and buy when it breaks to the upside! Be warned, my trading has stunk all year.