6 replies to this topic

[James Quillian]

Volume is light and the expected blanket of bids is absent, unlike last week. That is very bearish. Cooperating firms are not stupid. Supose for example, firms A, B and C are given the advance knowledge of a Fed fund rate cut in September in return for placing supporting bids. If it appears that the Fed is out of bullets and a rate cut won't help that much, they will be less enthusiastic about goosing the market in the spirit of cooperation. Its probably not that exactly, but in general thats how it works. The PPT is just there, like a decoy.

[kaiser soze]

Its also interesting that we are presently consolidating on the S&P cash at about 1448 right where we closed (and opened) on "Fed Friday". Any further losses will cut into the impact of that important day and would be very bearish.

[SemiBizz]

Yeah, you know it's "kinder and gentler' out there when they give the robots a paid vacation too... I suspect we'll see some show up in the next hour though...

[SandStorm]

Yeah, you know it's "kinder and gentler' out there when they give the robots a paid vacation too... I suspect we'll see some show up in the next hour though...

I think you are still bearish about the market. Just wondering when you will be shorting again? Thanks.

[SemiBizz]

Yeah, you know it's "kinder and gentler' out there when they give the robots a paid vacation too... I suspect we'll see some show up in the next hour though...

I think you are still bearish about the market. Just wondering when you will be shorting again? Thanks.

Not til I get a clean set of signals... I don't like new lows coming when the 3 min trend points higher... but that kinda stuff happens on low volume.

[kaiser soze]

Market down more than 1.5 %. Only 61 new lows. Are people afraid to short weakness now ?

[SemiBizz]

That's because there's NO SELLERS in today. That deluge of fund panic we had is not present. This "event" was never a retail event, that's why you had stealth strength in R2K stocks (no institutional ownership). Now from there it's a BUYER'S STRIKE.... this is like an old catfish in the pond, he's going to bite at something you just don't know where or when... We'll hit a price point and get an inflection. Who knows where it will be... My thoughts on Nasdaq are 2491...