5 replies to this topic

[ogm]

But of course P/C doesn't work anymore because we have major fundamental problems, right ?

There was only 1 time on the charts that I could find, where we had P/C 1+ and the market sold off hard...
The final flush before 2002 bottom.

Even in 1998 P/C never got this high. And that was a scary decline.

As I said, we're operating with comparable levels of fear here. Don't discount it..

Levels of fear at the level of 2002 and we're still way above March high. Of course we broke some support and we may crakc some more here., but I'll stand by what I said.. any selling this week is a flush before a rally.

Edited by ogm, 14 August 2007 - 05:46 PM.

[ZIDANE]

But of course P/C doesn't work anymore because we have major fundamental problems, right ?

There was only 1 time on the charts that I could find, where we had P/C 1+ and the market sold off hard...
The final flush before 2002 bottom.

Even in 1998 P/C never got this high. And that was a scary decline.

As I said, we're operating with comparable levels of fear here. Don't discount it..

Levels of fear at the level of 2002 and we're still way above March high. Of course we broke some support and we may crakc some more here., but I'll stand by what I said.. any selling this week is a flush before a rally.

So according to your avatar, we'll have a brief period of "hope" followed by another period of more fear which will lead to more price declines? Sound's plausible to me.

IMO, all rallies are selling oppurtunities till da bottom!

[ogm]

That depends on how much hope we'll get If we'll have people "shorting all rallies till the bottom " .... that rally may be quite long....

[ZIDANE]

That depends on how much hope we'll get

If we'll have people "shorting all rallies till the bottom " .... that rally may be quite long....

You know what i mean. There will be bounces along the way, but they fade away like this this morning for example. Nasdaq rallied up 10 to start and closed down 43. Those 10 points were a gift from da bear godz!

Good luck,
Z

[selecto]

[rkd80]

yeah the $CPCE data is basically in the 'nuts' category at this point. I follow a chart that has all the options stuff on it and this is just off the hook crazy. The ratio of cpce:cpci is not at any historical levels, but cpce alone is - for one day at least - at an extreme level. wow.