5 replies to this topic

[arbman]

It remains as a valid concern, especially after today's action. Whether this was an trend initiation or a climactic bottom leading toward a trading range will be seen quickly.

The cyclic work does not project lower, but unless there is a problem with the phasing. If this is a valid analogy of the internal momentum, it should broke lower tomorrow decisively, today's trading was no help in volume and internals about the test of the lows. I think another break lower would mark a very good low for a while though, especially if the market completes a 10% (yet another climactic) correction low...

I actually believe some of the extremely large money managers' fundamental concerns at this point, the leverage and the credit situation is definitely out of hand in today's markets. Mr Jeremy Grantham is one of them, heck even Dick Cheeney trusts him with his money!

Good luck,
- kisa

[skyymaster]

It remains as a valid concern, especially after today's action. Whether this was an trend initiation or a climactic bottom leading toward a trading range will be seen quickly.

The cyclic work does not project lower, but unless there is a problem with the phasing. If this is a valid analogy of the internal momentum, it should broke lower tomorrow decisively, today's trading was no help in volume and internals about the test of the lows. I think another break lower would mark a very good low for a while though, especially if the market completes a 10% (yet another climactic) correction low...

I actually believe some of the extremely large money managers' fundamental concerns at this point, the leverage and the credit situation is definitely out of hand in today's markets. Mr Jeremy Grantham is one of them, heck even Dick Cheeney trusts him with his money!

Good luck,
- kisa

K, I was just at lunch and they said that tommorrow is the deadline to tell fund mangers for redemptions. I think we may see that climatic move in the next couple of days if not tommorrow.

[arbman]

The downside volume is still not convincing and the market is closing at the lows, this could be a buy since the market is extremely oversold again with almost everything down. The downside momentum is waekening, BUT the internals are actually getting worse, the new lows did not improve a bit at this low. The main trend remains down baring a bounce here, imho...

[arbman]

Like NAV said, they are selling the quality issues now, this must be near a low...

[arbman]

The closing equity P/C is ~1. The OEX guys are selling a bunch of calls. The option picture says either the melt down comes tomorrow or there will be a pretty sharp short squeeze! Given the low volume today with the extremely oversold internals, the divergence in the MCOs, I would think that the lows should hold now. I hope it will not gap up substantially on the CPI, I am flat at the close...

[skyymaster]

I still feel that too many are trying to bottom pick and further downside is ahead. Tommorrow is the last day where people are supposed to notify if they want to liquidate out of hedge funds. It will be interesting. Interesting indeed.