5 replies to this topic

[ogm]

I posted this chart a while back. Nice triangle here on weekly. Looks like daily starting to move up.

[NAV]

Where's the volume for the breakout ?

[hiker]

you still not concerned what may happen in downside price action for the averages if breakout failure occurs?

fib's chat at TW last night favors your view that the upside is likely following a potential trading range, and the recent lows are "it"

I require proof in closing basis price action. Rally failure is not a welcome event..though I agree with your premise stated earlier that it may be worth a shot giving the long trades time.

Edited by hiker, 12 September 2007 - 11:24 AM.

[ogm]

Where's the volume for the breakout ?

What happened to "Price is king" and "Price leads volume" ?

Volume is paralyzed. Majority of market participants are stunned. By the time they will decide to buy.. they'll have pay up.

Edited by ogm, 12 September 2007 - 11:15 AM.

[ogm]

you still not concerned what may happen in downside price action for the averages if breakout failure occurs?

fib's chat at TW last night favors your view that the upside is likely following a potential trading range, and the recent lows are "it"

I require proof in closing basis price action. Rally failure is not a welcome event..though I agree with your premise stated earlier that it may be worth a shot giving the long trades time.

Of course I'm concerned. The whole world is concerned

Thats why I have a lot allocated into defensive, high dividend paying positions, in case this mess will take a lot of time to sort out. Plus writing calls.

Example of defensive position.. VOD... added a little today.

Telecoms are cash cows. Modern utilities. Everyone has a big telecom bill these days. Paying 5% dividend too and sitting at a new 52 week high.

And yet with the whole world in almost panic, stuff keeps climbing inch by inch.....

Edited by ogm, 12 September 2007 - 11:38 AM.

[hiker]

thanks, OGM...appreciated your willingness to stick your neck out with your IT trades.

btw, this shows why I have liked NDAQ since March when I bought it (yeah, I do not just daytrade)-

you may find the use of the displaced 3 ema on the weekly interesting since it worked in this example as a confirmation signal on thw weekly

http://forums.techni...;highlight=ndaq

I don't see SPX closes above 1476 very often. how is that called climbing?

just observing the data...I am price neutral here until this resolves..and daytrading the heck out of it.

Edited by hiker, 12 September 2007 - 11:58 AM.