12 replies to this topic

[price-and-volume]

Even though the NYSE put in a picture perfect double bottom, this market is going to chop around at these levels, maybe even double bottom or spring off this level in days to come. I'd say give it a couple days to sort itself out and then watch this market take off. My bottoming signal is not yet in a buy zone but I believe it will be next week. We will get at least 100 point on the SPX from this, if not 150. Price-and-Volume

[eminimee]

If we didn't put the bottom in today.... ....I'd like to see 5 down and the ED is looking good....hell ...we could do that tomorrow..

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=6&dy=27&i=p84781333250&a=93045759&r=2187.png

[arbman]

The signal came in a day in advance again and this was discounting for the insitutional buying or some serious rescue of some sort...

(Securities Lending Transaction Volume)

I think this is a lasting low, a retest to be expected, the new lows expanded to 1100, pretty much one third of the market made a new low on NYSE stocks. But the more interesting news is on Nasdaq which had divergent and less new lows.

There is tremendous growth emerging under this market. There is no other explanation. The insiders know...

- kisa

[ogm]

The signal came in a day in advance again and this was discounting for the insitutional buying or some serious rescue of some sort...

(Securities Lending Transaction Volume)

I think this is a lasting low, a retest to be expected, the new lows expanded to 1100, pretty much one third of the market made a new low on NYSE stocks. But the more interesting news is on Nasdaq which had divergent and less new lows.

There is tremendous growth emerging under this market. There is no other explanation. The insiders know...

- kisa

What growth ? Not sure what you mean. What do insiders know ? You mean the levels of buyback and insider buying vs selling ?

btw.. thats another difference with 2000-2002 decline. Insider selling was high, corporate balance sheets looked like crap. There was also plenty of debt on them and goodwill and what not. And now insiders aren't unloading in droves like back then, balance sheets are clean and buybacks are high.

[ogm]

btw, NYSE common stocks new lows were pretty low. Only about 100. At the lowest point a few days ago they were 300. Big positive divergence.

[arbman]

Are you sure? I see more new lows at this low on NYSE common only or all. Nasdaq held up better in that sense... I see 415 common and over 1000 overall for NYSE, 185 vs 300 on NASDAQ.

[pdx5]

Was there a reason why SPX corrected 10% in such a short time? If there was no good funnymental reason, then what exactly was the TA reason and who predicted it coming? I mean a 10% correction coming. With all the great TA minds on this board I am sure someone had to see the magnitude of correction coming. If there WAS a good funnymental reason for the correction, has that problem been resolved, causing the market to reverse the sudden decline? And if the problem has not been fixed yet, why should the market advance 10% or even 5%? Just wondering.

[SemiBizz]

Was there a reason why SPX corrected 10% in such a short time?
If there was no good funnymental reason, then what exactly was the TA
reason and who predicted it coming? I mean a 10% correction coming.
With all the great TA minds on this board I am sure someone had to see
the magnitude of correction coming.

If there WAS a good funnymental reason for the correction, has that
problem been resolved, causing the market to reverse the sudden
decline? And if the problem has not been fixed yet, why should the
market advance 10% or even 5%?

Just wondering.

Posted 8/12/07 Comparison of 2000 decline to 2007 - with eventual target.



Posted 8/3/07

Issued Target for 2425 by 8/8, it took a week longer than I expected but there's your 10% Correction Forecast.

[arbman]

The yield curve is getting steeper at its short term end while the long term end is pretty stable around 5% and this indicates low inflation as well as growth. Which stocks like this best? The growth stocks! Well unless the economy slips into a recession first, but the yield curve should've been totally flat already for a bear market from here during this correction. It didn't happen, at least yet. If the economy was slipping into a major bear market, the yield curve would look a whole lot worse. Anyway, the growth stocks will do much better in the next bull market whenever it starts, I think we should see a nice rise from the end of October. I was calling for a 10% correction, it happened very quickly. I am not sure it is over so much either, but the technicals are now lining up well for a rally...

[ogm]

Are you sure? I see more new lows at this low on NYSE common only or all. Nasdaq held up better in that sense...

I see 415 common and over 1000 overall for NYSE, 185 vs 300 on NASDAQ.

My apologies.. D/P wasn't updated yet when I looked.

I'm seeing 200+ lows on common only now. Still lower then the previous low, though not a huge divergence.