to go short. I am long here from SPX 1473 level (some leveraged ETFs and options).
Something doesn't feel right here....
Started by
NAV
, Sep 05 2007 11:40 AM
10 replies to this topic
#2
NAV
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Posted 05 September 2007 - 11:55 AM
The market was overbought yesterday on the hourly. It was all reset with just one gap-down. Now the hourly momentum is turning back up from oversold levels and the 60-min uptrend is still intact. That's generally a bear-trap. But for me to hold my positions today's intraday lows should hold. Otherwise some more probing of supports below will be required. We'll see...
Edited by NAV, 05 September 2007 - 11:56 AM.
#3
Darris
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Posted 05 September 2007 - 12:00 PM
We still have a gap below around 1461.50 on the Sept contract and that level had some premium in it from the cash close around 1457.
NYSE TICK gave a positive divergence around the 11:30am bottom.
#4
SemiBizz
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Posted 05 September 2007 - 12:02 PM
Everything feels fine... the volume lightened up ahead of the Beige Book, as expected. Took profits on yesterday's QID, looking to reload when the buying of the mystery turns into the selling of the history...
It's fine, market is doing what it's supposed to do... fool 90% of the people 90% of the time. 
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#5
gorydog
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Posted 05 September 2007 - 12:13 PM
Everything feels fine... the volume lightened up ahead of the Beige Book, as expected. Took profits on yesterday's QID, looking to reload when the buying of the mystery turns into the selling of the history...
It's fine, market is doing what it's supposed to do... fool 90% of the people 90% of the time.
You don't think a weak Beige book will be bought 'cause it's solid evidence a rate cut is needed, and a strong one bought because it means everythings great already?
GD
#6
SemiBizz
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Posted 05 September 2007 - 12:21 PM
You don't think a weak Beige book will be bought 'cause it's solid evidence a rate cut is needed, and a strong one bought because it means everythings great already?
No, rate cuts won't change the inevitable. I am just trading this trash while it still has some value left in it.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#7
ogm
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Posted 05 September 2007 - 12:25 PM
Put/Call is pretty high and is getting steadily higher throughout the day.
Bears are getting excited.
#8
NAV
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Posted 05 September 2007 - 01:05 PM
Out at SPX 1471. Looks like they want to test lower levels.
#9
SemiBizz
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Posted 05 September 2007 - 02:03 PM
Short entry setting up now in next 10 min, for new lows by close.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#10
sglasson
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Posted 05 September 2007 - 02:09 PM
Short entry setting up now in next 10 min, for new lows by close.
how's intraday vol shaping up - also how's daily vol comparing to yesterday - thanks
