19 replies to this topic

[OEXCHAOS]

Looks like the latest part of this rally is pretty thin on volume and the momentum appears to be curling over. Maybe a day trade short is setting up. We'll see.

[NAV]

Mark, It's about as solid a sell setup as it gets. If it was not a OPEX day, i would have pounded the table Sell Sell Sell !. I am short and have still not ruled out a post lunch squeeze. Just gotta play my signals. Everyday there's something to worry about. They are nortorious for closing it at the top tick of the day on the OPEX days.

Edited by NAV, 21 September 2007 - 12:36 PM.

[ogm]

Looks like the latest part of this rally is pretty thin on volume and the momentum appears to be curling over.

Maybe a day trade short is setting up.

We'll see.

Hmm.. I think charts are setup for a big up move next week, if we close around these levels.

Chart after chart I'm looking at are gaining momentum and pushing higher. Many new highs. Very strong market and very few sellers.

Even financials are gaining footing here once again.

Sentiment is still very sceptical.

I think next week we take out the highs.

Of course, I've been wrong before. But this just looks very strong to me.

Edited by ogm, 21 September 2007 - 12:37 PM.

[rkd80]

Nav, Are you holding over the weekend if the stops do not get hit?

[NAV]

Nav,

Are you holding over the weekend if the stops do not get hit?

Yes, unless they park the prices close to the 9/19 swing high.

[ogm]

Don't forget.. next week is End of Quarter. I think majority of the market participants are still underinvested, and paralyzed.

I don't think there is anything in this chart that points to any downside any time soon.

Internals momentum is also very strong, with solid A/D and expanding new highs.

Edited by ogm, 21 September 2007 - 01:25 PM.

[NAV]

Don't forget.. next week is End of Quarter. I think majority of the market participants are still underinvested, and paralyzed.

I don't think there is anything in this chart that points to any downside any time soon.

When was the last time you saw the charts showing any downside action. During the last 3 or 4, 50+ points selloff on the SPX, did you see it ?

Well, there is always a reason not to go long or short.

Ok, here's what i heard today.

Semi is breaking out. Don't short.
When TT memebers are more than 30% short, there's no downside. Dont' short.
End of Quarter - Don't short
OPEX - Dont' short.

All valid points and i respect all your opinions. But i gotta do my stuff, right or wrong.

Edited by NAV, 21 September 2007 - 01:37 PM.

[ogm]

NAV, don't get me wrong, not trying to be argumentative, and I understand your point. Just want to point out that on that chart I just posted all MACD's are EXPANDING. If anything the momentum of this move is very strong and increasing. Dips will be bought for the foreseeable future. Of course if we have a strong down move into the close, it won't look good. But as long as we close around these levels the chart looks incredibly strong to me.

[arbman]

well just don't try to stop it...

[selecto]

Short Dow (dxd). It has the clearest chart in here, but you seen one you seem 'em all.