13 replies to this topic

[esther231]

That close was amazing. BTW, OGM, nice call on this rally.

[hiker]

ogm....close above SPX R2 and above 1476 major horizontal with the 50day ema just above looks darn good for bulls! like you have been saying all day...some R ahead

[ogm]

That close was amazing.

BTW, OGM, nice call on this rally.

Thanks, esther. But all glory goes to Teaparty and Da_cheif. I'm just in it for the money Besides its too early to high five here. Let it accelerate.


Hiker, not only we closed above 1476, but also above 1490. We sold off right to that support and rallied hard.

Volume is astonishing today too. With 2 to 1 positive A/D we have 3.6 bil shares on the Naz out of which 2.8 is up volume. This is some serious stuff. NYSE numbers are pretty good too.

I think that since CDO's turned out to be illiquid and hard to market, a lot of liquidity is now flowing into stocks.
CDO's were a huge liquidity sponge, and now people are shying them. Thats why we have huge money flowing in the stock market. Just an uneducated guess.

Edited by ogm, 08 August 2007 - 03:22 PM.

[beta]

Think we've got one more higher high (not worth playing long), then another WHOOSH to the downside, close but not exceeding last Friday's low (higher low). Sold my calls, and started a Sept put collection. AAPL, LEH, GES, and assorted retailers on my list. Enjoy the waves, but watch out for that nasty undertow !

Edited by beta, 08 August 2007 - 05:00 PM.