Bulls need to give up. Their idiotic fight here will not work. They need to step away and let prices drop. It will be easier for them to step in at lower levels.
Denleo
Bulls need to give up
Started by
denleo
, Aug 15 2007 12:19 PM
7 replies to this topic
#2
DraggdOut
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Posted 15 August 2007 - 12:34 PM
Bulls need to give up. Their idiotic fight here will not work. They need to step away and let prices drop. It will be easier for them to step in at lower levels.
Denleo
True, although the difference between trying to pick a bottom and trading a counter-trend setup is none too subtle...
We are currently in a neighborhood where there is a lot of support for the indexes
#3
gorydog
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Posted 15 August 2007 - 12:43 PM
Bulls need to give up. Their idiotic fight here will not work. They need to step away and let prices drop. It will be easier for them to step in at lower levels.
Denleo
True, although the difference between trying to pick a bottom and trading a counter-trend setup is none too subtle...
We are currently in a neighborhood where there is a lot of support for the indexes
Good Inverse H & S on a 15 min, bulls have a real chance right here
GD
#4
Data
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Posted 15 August 2007 - 02:01 PM
Heard on the TV that some hedge funds had been selling more puts into this sell-off and causing the put-call ratio to sky.
#5
rkd80
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Posted 15 August 2007 - 02:14 PM
Heard on the TV that some hedge funds had been selling more puts into this sell-off and causing the put-call ratio to sky.
why would put selling cause the p/c ratio to go up?
“be right and sit tight”
#6
arbman
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Posted 15 August 2007 - 02:21 PM
Because they are not counting them separately the buys and sells, it is all either put volume or call volume.
#7
Data
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Posted 15 August 2007 - 03:09 PM
The hedge funds specialize in writing puts. It's assumed that they're buying back their old puts as well.
#8
JAP
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Posted 15 August 2007 - 04:40 PM
Bulls need to give up. Their idiotic fight here will not work. They need to step away and let prices drop. It will be easier for them to step in at lower levels.
Denleo
So true.
Notice that even the most stubborn bulls here are starting to change their thinking.
SPX = 1370 here we come... almost there!
