14 replies to this topic

[ogm]

Bears are stepping over each other on message boards to predict the end of the world once again.
Capitalstool featuring photos of exploding earth, and sayings "This time is oh so different".

And here is a simple chart. Can anyone point out a downtrend here ? Or any evidence that its about to implode in a catastrophy of global proportions ?
I can only imagine the amount of panic and fear if we dip towards the second line of support at 55 EMA.

Edited by ogm, 05 September 2007 - 06:44 PM.

[Tor]

Thanks for posting OGM. I think we agree to disagree right here. I look for more range trading with a downside bias starting about now. I dont have a chart to use, but basically posted levels before, for a swing position I am seeing. The august highs set the limit point. take those out, and i AM with you, but until then I think I am right. Good and profitable trading whatever to you.

[hiker]

ogm

how can you perceive the uptrend is going to continue when rallies fail to move above 1476 to 1484/1488 on a closing basis...daily or weekly closes?

rally failure is within the TA signal set

agreed, closes above that price zone may occur, but has not yet in the current advance sequence

weekly SPX chart here -

http://www.traders-t...?...;blogid=26

Edited by hiker, 05 September 2007 - 07:09 PM.

[try2win]

over on capital poo tonight i read the same stuff. all they talk about is housing and subprime. one poster is trying to find the blog of someone who is going through a miserable time. so he can read about it and feel better about him self ?!?!!? crazy... f' in crazy !

[Jnavin]

OGM, in the interests of full disclosure, were you thrown off the CapitalStool board and asked not to return? If so, what were the reasons? Could that be affecting your negative comments about that site?

[ogm]

ogm

how can you perceive the uptrend is going to continue when rallies fail to move above 1476 to 1484/1488 on a closing basis...daily or weekly closes?

rally failure is within the TA signal set

Does it have to happen in one day ? Summations are climbing, MCO's had a good momentum pump. We had 3 9 to 1 upside days within a short period of time.

Internals look OK at this point. We had a 100+ point move off the lows on SPX. Move on the NDX was actually 10%.... huge move. Of course consolidation is in order.

Sentiment looks extremely constructive. Fear escalates on every down day.

The only negatives I see at this point is underperforming BKX and broken momentum on SPX weekly... the rest looks fine to me.

Just giving it a chance

I'm just looking at my portfolio performance... Today with Indexes down so much, my portfolio lost 20% of yesterday's gain. A lot of stuff was down pennies after running up dollars. I see consolidation, not carnage. A lot of individual charts gaining strength.

Edited by ogm, 05 September 2007 - 07:19 PM.

[OEXCHAOS]

BAD NEWS, OGM! ChartSmarts had literally hundreds of set ups today and nearly a full basket of longs. That's often a precursor to selling! More seriously, chill just a bit. We can chop in here or go higher or lower. The trend, depending upon how you measure it is more or less constructive, but not clearly positive by most reads. Sentiment? Well, it's OK, but not enough to support the market if real selling shows up. Mark

[hiker]

agreed, OGM...more data is needed from future days to determine whether the resistance zone will in fact hold back the advance, though some evidence can be cited now on both the bull and bear side

[ogm]

OGM, in the interests of full disclosure, were you thrown off the CapitalStool board and asked not to return?
If so, what were the reasons?
Could that be affecting your negative comments about that site?

Yes, the reasons were ... I didn't like Gold as an investment, and I suggested that subprime problems may not be as severe as the public thinks. No kidding.

My negative comments come not from that though. Stool is a hack. his analysys is crap. I read his reports. "We'll either go up or down".. thats basicaly it. Some disgruntled former real estate agent who's selling doom and gloom crap to his subsrcibers at inflated prices.

In all honesty its a huge effort to read that board, digging through all that drivel and negativity that is being spewed by those characters on a daily basis.

I only had a couple posts on that board, though I was reading it for quite a while. I read a lot of boards. Just for sentiment and general info.

Wndy is the smartest guy on the CS board. How the heck did he end up with that crowd.

Edited by ogm, 05 September 2007 - 07:37 PM.

[mss]

ogm
how can you perceive the uptrend is going to continue when rallies fail to move above 1476 to 1484/1488 on a closing basis...daily or weekly closes?
rally failure is within the TA signal set
agreed, closes above that price zone may occur, but has not yet in the current advance sequence
weekly SPX chart here -
http://www.traders-t...?...;blogid=26

Just to throw a few lines in the hat, check out the two different channels AND the horz blue line. Closing prices only on chart.

Edited by mss, 05 September 2007 - 07:38 PM.