19 replies to this topic

[OEXCHAOS]

We did a yo-yo short at ES 154100. I was thinking exit now, but looking at the volume, it might be a good hold.

[n83]

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.

MACDs expand..until they contract-gg

all indicators lag price

[ogm]

MACDs expand..until they contract-gg

all indicators lag price

Meaningless statement. Keep shorting.

[bullishnot]

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.

MACDs expand..until they contract-gg

all indicators lag price

Agreed, the down will be a nice one.

[OEXCHAOS]

I'm not going to be too patient with this one. The trend is up and there's a bazillion Bears. Mark

[pdx5]

Mutual fund cash levels were at very low levels BEFORE the Fed rate cut. I have to guess they will be even lower by the end of quarter window dressing. I have not checked today's data yet since I can't find the link.

[nicolasillo]

Mark I much respect your experience and knowledge but at this levels and current situation I would not be be very optimistic. Don t forget that since 2003 Bullish % was always high, so why not bearish % not be high now. OGM, I would suggest to show an SPX graph rather than an DJI graph where there are only 30 stock s that make up the index and even my grandmother who owns billions can manipulate that index. The moral of the story is that no matter what you all say the path is already decided and we ll just watch it. No hard feelings to anyone. but what would your thoughts be if FED hadn t cut rates - creating that fake rally !? - so no matter what your TA is saying, the trend is already decided by the big guys......now the question is : is it up or down. Good night

[n83]

MACDs expand..until they contract-gg

all indicators lag price

Meaningless statement. Keep shorting.

As meaningless as anything else anyone says including you..

I am not short..

such presumptuousness !

Edited by n83, 22 September 2007 - 07:26 AM.

[ogm]

SPX, DJI, NDX, doesn't matter, they all look the same. Same setup on SPX.

[OEXCHAOS]

Mark I much respect your experience and knowledge but at this levels and current situation I would not be be very optimistic. Don t forget that since 2003 Bullish % was always high, so why not bearish % not be high now.

Really? Which Bullish%? My work shows the opposite for many measures. I'm curious as to what you're looking at.

Now, it's imperative to note that I'm watching a LOT of different sentiment rather closely. Every day I get a different read. For instance, last monday Morning I was Bearish for the day and much of the week. Tuesday morning totally reversed--a big Bearish shift turned me back Bullish. I finally started seeing some Bulls so I could try a short and so far, it's working. On Friday, I was viewing this as one to snag quickly and run. now? I'm not so sure. We might get some selling that lasts more than overnight.

But bigger picture? Looks Bullish still. The weekly is up, the daily is up, breadth is up, the seasonal is entering the positive period, and there is more than enough pessimism to support more rally, especially if we pullback for a couple days to reload bearishness. Now, if I'm wrong, we know that the market will have to break the 21-day and turn breadth negative.

No hard feelings to anyone. but what would your thoughts be if FED hadn t cut rates - creating that fake rally
!? - so no matter what your TA is saying, the trend is already decided by the big guys......now the question is : is it up or down.
Good night

I would have been bullish because the Fed would then be getting ready to cut.

The sentiment was very supportive.

Mark