10 replies to this topic

[NAV]

Weekly CCI on SPX above -100 NYSE MCO thrust above July highs - NYSE 5% and 10% components above zero - . (10% above zero, but the 5% still slightly below zero) So the path of least resistance is up. That does not preclude selloffs and pullbacks. But leave that to those who have the tools, sophistication and the nimbless to battle it. Long looks easy to me over the IT i.e buying pullbacks, going forward. Volatility has come down to levels i am most comfortable with. I am back to my aggressive VST Futures trading. Good luck all !

Edited by NAV, 27 August 2007 - 06:56 AM.

[traderpaul]

Weekly CCI on SPX above -100
ut leave that to those who have the tools, sophistication and the nimbless to battle it. Long looks easy to me over the IT i.e buying pullbacks, going forward.

Good luck all !

Nav, I don't use fancy waves or fancy MCAD.....All I see is light volume going up.....Heavy volume going down.....So how is the path of least reistance is up?.....Only when you turn the chart upside down?.....

[NAV]

Weekly CCI on SPX above -100
ut leave that to those who have the tools, sophistication and the nimbless to battle it. Long looks easy to me over the IT i.e buying pullbacks, going forward.

Good luck all !

Nav, I don't use fancy waves or fancy MCAD.....All I see is light volume going up.....Heavy volume going down.....So how is the path of least reistance is up?.....Only when you turn the chart upside down?.....

If market breadth is a fancy indicator to you, why use even fancy volume. Let's make it even more simpler. Just look at the price. It's going up.

Edited by NAV, 27 August 2007 - 10:30 AM.

[traderpaul]

Gas in you car is like volume in the market.....No gas no go....

[NAV]

Gas in you car is like volume in the market.....No gas no go....

I have seen SPX rallying 200 points on this low volume argument this year. Yes, March 2007 rally. And i see one such rally every year.

[bln]

The same goes for the early stage of the june/july rally last year, declining volume during the first 1 month and market went up 250 points over the next following 8 months.

[NAV]

The same goes for the early stage of the june/july rally last year, declining volume during the first 1 month and market went up 250 points over the next following 8 months.

Agree. I really wonder how these folks quoting low volume as a reason "to short/stay short" manage their trades. No wonder they all fight the market and dissapear after sometime, when the market makes a substantial move.

The high volume during the last couple of months seems like an anomaly, thanks to the financial panic. Otherwise, we are back to normal volume levels seen over the last 2 years.

Edited by NAV, 27 August 2007 - 11:00 AM.

[greenie]

NAV, I like the picture on your avatar. Is that Kerala?

[ogm]

Its very simple... market washed out, no sellers left for now. A few rare and terrified bargain hunters are buying. And Bears that have stampeded to sell this short on every uptick in hope the bounce will be short lived are forced to cover higher and higher. But unfortunately for bears there is a lot of them. So they keep grinding each other up. We had a huge washout on extremely heavy volume. Don't you think that all those funds that had to raise cash have already done so ? Remember 3 bil+ volume days and absolute panic ? And yet the market held above the march lows... makes you wonder...

Edited by ogm, 27 August 2007 - 11:48 AM.

[OEXCHAOS]

Its very simple... market washed out, no sellers left for now. A few rare and terrified bargain hunters are buying. And Bears that have stampeded to sell this short on every uptick in hope the bounce will be short lived are forced to cover higher and higher. But unfortunately for bears there is a lot of them. So they keep grinding each other up.

We had a huge washout on extremely heavy volume. Don't you think that all those funds that had to raise cash have already done so ? Remember 3 bil+ volume days and absolute panic ?

And yet the market held above the march lows...

makes you wonder...

"Sellers' Fatigue"?