3 replies to this topic

[cgnx]

Nice test of the 200 day moving avg. With all the bearish trimmings. At current valuations this market is at a pretty decent contrarian buy point. 50 day avg. is still above the 200. Puts this market in bull mode anyway. The case for continued liquidation is a good one. That could be the wild card here. Buyers may hold off waiting for lower prices. Forced sellers are very hard to quantify. This number may loom much larger than fathomable. This type of mystery in the markets is what can lead to panic and opportunity.

[Sentient Being]

I've got buy stops in place for SPY and QQQQ but it's going to have to move above Fridays highs.

[JAP]

Nice test of the 200 day moving avg. With all the bearish trimmings. At current valuations this market is at a pretty decent contrarian buy point. 50 day avg. is still above the 200. Puts this market in bull mode anyway.

The case for continued liquidation is a good one. That could be the wild card here. Buyers may hold off waiting for lower prices. Forced sellers are very hard to quantify. This number may loom much larger than fathomable. This type of mystery in the markets is what can lead to panic and opportunity.

The market always re-tests the panic low (1360-1370). After that happens... it's anybody's guess.

[relax]

well it took quite a while for the market to retest the "panic" lows of february 2007 so time wise i think it has to happen this week, maybe next week