11 replies to this topic

[saltlake]

Price is broken down and nobody believes it. Daily=sell 60 minute= sell 5 minute= sell This is looking like a bear market for the time being

[nimblebear]

I have been since a little B4 14,000.

[greenie]

I am short - 5' only Don't use the word 'bear market'. Others will start asking about objective definition and so on.

[OEXCHAOS]

Yeah, how do you define a Bear market? How do you know when you are in one and when you are in a Bull market? Or do you only know after the fact? Me, I have very explicit definitions for when I treat a market like a Bear market and when I treat a market like a Bull. It's useful, I've found to make an objective distinction rather than flying by the seat of one's pants.. Mark

[hiker]

flat at the moment.

FWIW for SPX -

1427.31 is the .38 retracement of the 1219 to 1555 price advance ....during 2006 to the recent 2007 high.

this convergence of data items near 1427 could be an alert for a potential support area that may hold, now that approx 1427 to 1432 area has been tested on 4 days out of the recent 8:

1. the rising tops trendline on the long-term weekly resides nearby

2. 1432 major horizontal from long-term daily

3. the .38 retracement noted above (hardly a bear market yet...this is a reasoned and to be expected retracement of any long-term price move...yes, alerts are going off that early warning evidence of something like a trend change may be in the works...but not confirmed YET)

which support are you calling broken, saltlake?

for SPX near-term S/R from recent action are:

1460
1450
1440
1427
1421

weekly

Edited by hiker, 14 August 2007 - 04:25 PM.

[kaiser soze]

I am long GS puts (August). I am long QQQQ puts (Also August). Together these positions form 2.5 % of my net equity and are the only positions I have currently.

[bln]

This is looking like a bear market for the time being

Woha.. the bull market that started in October 2002 is over then? that's a very wild forecast indeed. Dont put your neck out to far, you might get your head chopped off.

[VolPivots]

u bet, short 1480 and 1450 ES calls against long stock/mutual fund holdings...I just hope da boyz squeeze the heck out of the call writers so I actually make $ instead of breakin even

[saltlake]

Like I said, Very few believe. The trend is down(daily, 60 minute, 5 minute) its that simple. The 5 minute(which I use for swing trades) could change any time

[IYB]

For the record, we're out and short based on this long-delayed, yet very real sell signal. As most are aware, divergences have become massive over recent weeks- as the seemingly never ending series of buy signals amazed even me. I believe that this long set-up is likely "predicting" a pretty severe sell off. We'll see.

Good weekend to all, D

Short since 7-20-07. {SPX 1550} As said, I'll leave the bounces, projections, counts, counter-trend trading, day trading, and the all the rest to others more capable. For me, simple is best. The trend is down. The trade is short. Sitting tight. D

Edited by IYB, 14 August 2007 - 05:36 PM.