10 replies to this topic

[SemiBizz]

We're on track for 1.5 - 1.6B Lowest volume since 8/31. When volume returns.. down we go.

[BigBadBear]

Agreed. We are right up at resistance in the worst seasonal month of the yr in the the worst time of that same month ! not a place to be long

[darnelds]

I dunno. Brokers and banks are doing well this week, MER, GS, WM. How can you have a big down move without them going too?

[BigBadBear]

Resistance is doing its jpb well. Looks like we jst had a throwover.

[thespookyone]

I dunno. Brokers and banks are doing well this week, MER, GS, WM.
How can you have a big down move without them going too?

Well, they announce their writedowns on the bad debt in their portfolio's on Tues, Wedns, and Thurs next week, Lehman leads off pre-market Tues-lets see how fresh that is.

[SemiBizz]

I dunno. Brokers and banks are doing well this week, MER, GS, WM.
How can you have a big down move without them going too?

All those stocks you mentioned as well as the BKX are doing the same thing as the rest of the market, going up to resistance on light volume building cause for the next leg down... We are going to retest those 8/16 lows before we go much further... This is probably going to be just like last Friday when it hits, if you aren't positioned short going into it, you will get whipsawed on a 'too early' entry. Nasdaq daily trend still pointing down here...

Edited by SemiBizz, 13 September 2007 - 12:02 PM.

[SemiBizz]

Nasdaq over yesterday's high now on 20% less projected daily volume... Bearish Upthrust.

[SemiBizz]

I added some QIDs at the high today...Well, it looks to me like this is starting a broadening top... So from here I'd expect a test of today's lows so I will cover 1/2 there like I did yesterday... if we break down from there and keep on going I can always add back... If they blow out the top, that's where I entered so I can move out for a small loss...

[thespookyone]

I added some QIDs at the high today...Well, it looks to me like this is starting a broadening top... So from here I'd expect a test of today's lows so I will cover 1/2 there like I did yesterday... if we break down from there and keep on going I can always add back... If they blow out the top, that's where I entered so I can move out for a small loss...

I bought QQQUW puts at .65 today(14.06,14.07). Semi, I truly respect your volume knowledge, and have a question. Was watching a 1 minute on the Q's today,biggest volume stick all day was red, at 1:22-dead on the high of day. Despite what it indicates to me-does it have any meaning for you?

[SemiBizz]

I added some QIDs at the high today...Well, it looks to me like this is starting a broadening top... So from here I'd expect a test of today's lows so I will cover 1/2 there like I did yesterday... if we break down from there and keep on going I can always add back... If they blow out the top, that's where I entered so I can move out for a small loss...

I bought QQQUW puts at .65 today(14.06,14.07). Semi, I truly respect your volume knowledge, and have a question. Was watching a 1 minute on the Q's today,biggest volume stick all day was red, at 1:22-dead on the high of day. Despite what it indicates to me-does it have any meaning for you?

Put it on a 2 day, 1 minute and you will see what you ran into. It was not the highest stick on the one minute today...We had a lower low on higher volume near the close. FWIW, I don't use 1 min charts. the smallest increment I use is 3 min. As in all types of T/A, the biggest mistakes are made in the smallest timeframes. On the daily, today was a non-event... inside day on lighter volume. Although in the bigger picture it's a bearish upthrust....