13 replies to this topic

[ogm]

We have days and weeks of losses in the market wiped out in 2 days. A/D improved significantly. Financials on fire. Techs on Fire. Transports looking good, Utilities looking good. Even Real Estate market has calmed down and the bond market has calmed down. And yet Put /Call is above 1 again all day, and people are fighting it tooth and nail to pick short entries. Look at PBW (Cleantech ETF) was going down for a couple weeks.... KABOOM ... new 52 week high today. Is that bearish ? Summations will probably turn up today too. MCO rallying from strong positive divergence. W bottom on the Qs supported by great earnings... Heavy volumes across the board. So much selling was absorbed and now stuff is rallying on even more volume. Shorts have piled in in huge numbers... I can go on and on. Whats not to like here ? I seriously doubt this market will let the shorts out easily. We're poking at some resistance here, but looking at all this mistrust, I'm thinking it will flatline for a bit and then break it with a vengeance.

[Vector]

that's precisely what causes bull markets.

[NAV]

Who are those "so many people", fighting it ? BTW, the Equity option folks (the modern age smart money) are buying calls hand over fist the last couple of days

[eminimee]

Fighting it?? Not moi.....I think I was the only one on the train at the bottom. . . and the train is still more than half empty....I should say "almost the only one"

Edited by Teaparty, 08 August 2007 - 11:04 AM.

[greenie]

Fighting it?? Not moi.....I think I was the only one on the train at the bottom. . . and the train is still more than half empty....I should say "almost the only one"

I thought I was the only one

http://www.traders-t...showtopic=73868

[espresso]

I have the daily reaching my first target today, various 5 and 15min sell signal when i posted "taking profits" and www in the back of my mind.

Edited by Espresso, 08 August 2007 - 11:43 AM.

[ogm]

I have the daily reaching my first target today,
various 5 and 15min sell signal when i posted "taking profits"
and www in the back of my mind.

Nothing wrong with taking profits.. Congratulations on job well done.

[espresso]

I have the daily reaching my first target today,
various 5 and 15min sell signal when i posted "taking profits"
and www in the back of my mind.

Nothing wrong with taking profits.. Congratulations on job well done.

Congratulations to you too, the banks were my first picking , I was a bit under water Friday but have been repaid well!

Edited by Espresso, 08 August 2007 - 12:03 PM.

[GOOSE2]

Fighting it?? Not moi.....I think I was the only one on the train at the bottom. . . and the train is still more than half empty....I should say "almost the only one"

[Sentient Being]

My portolio is 80% long simply because of my buy and hold side that I never adjust. Then there is my 20% of assets that are the trading side that is presently about 50% long. I'm not fighting the market. The market's fighting me. I can count my winning trades on one hand this year.