2 replies to this topic

[ogm]

Industrials, Homebuilders, Retailers, Transports, Big Pharmas, Banks, Small caps.... This market is roaring under the surface. Incredible amount of great looking setups on individual charts. Just about everything looks like it has consolidated and ready to blast upwards. MCO has been super strong. Momentum in internals is incredible. And still so many stubborn people banging their head on the wall trying to catch a small dip instead of going with a roaring trend. There were no pullbacks worth playing, and looking at dozens of individual charts, I see another blast upwards coming. We were lead by oils, commodities, and few large techs, but now the borad market is waking up. Look at Transports today up 3.5% . The employment report just couldn't be better for the broad market. Yes, homebuilders will run another 15-20% easily. So will retailers, and Transports. The market was discounting a recession and those sectors were left for dead. That discount is no being removed.

Edited by ogm, 05 October 2007 - 01:09 PM.

[hiker]

you see confirmation here?...note the volumes vs. avg daily vol (3mo): there is a saying: buy at wholesale, sell at retail. Symbol/ Pct from Yr High/ Trade// Change /Volume/ Avg Vol (3m) - - - - - DBC Down 4.73% 27.62 Down 0.05 Down 0.18% 85,800 244,615 - - - - - DIA Down 0.09% 140.87 Up 1.36 Up 0.97% 3,941,300 17,129,000 - - - - - DVY Down 5.75% 71.46 Up 0.82 Up 1.16% 163,800 750,783 - - - - - EEB Down 0.79% 50.34 Up 2.23 Up 4.64% 309,500 355,474 - - - - - EEM Down 0.27% 156.58 Up 4.58 Up 3.01% 8,717,250 15,485,000 - - - - - EFA Up 0.36% 84.26 Up 0.91 Up 1.09% 2,807,217 7,471,210 - - - - - EPP Up 0.40% 171.26 Up 3.81 Up 2.28% 156,100 296,843 - - - - - EWA Up 0.40% 32.72 Up 0.63 Up 1.96% 1,286,038 1,853,360 - - - - - EWC Up 0.66% 33.56 Up 0.61 Up 1.85% 558,300 914,002 - - - - - EWD Down 2.65% 38.15 Up 0.82 Up 2.20% 95,400 289,498 - - - - - EWG Up 0.09% 35.11 Up 0.46 Up 1.33% 466,300 1,526,820 - - - - - EWH Down 2.14% 21.53 Up 0.79 Up 3.81% 4,794,770 5,073,060 - - - - - EWP Up 0.18% 62.00 Up 0.86 Up 1.41% 1,316,500 308,537 - - - - - EWQ Down 2.57% 39.07 Up 0.32 Up 0.83% 278,000 326,375 - - - - - EWS Up 0.90% 15.67 Up 0.45 Up 2.96% 1,784,500 3,621,270 - - - - - EWU Down 0.49% 26.36 Up 0.36 Up 1.38% 1,394,800 464,685 - - - - - EWY Down 0.51% 71.93 Up 1.00 Up 1.41% 873,080 2,711,200 - - - - - EWZ Down 0.33% 77.38 Up 3.23 Up 4.36% 5,910,120 13,539,800 - - - - - FXE Down 1.15% 141.54 Up 0.06 Up 0.04% 312,700 168,734 - - - - - FXI Down 1.61% 188.93 Up 7.73 Up 4.27% 3,347,794 3,510,790 - - - - - ILF Up 0.02% 251.36 Up 9.86 Up 4.08% 202,200 489,302 - - - - - IWF Up 0.54% 62.76 Up 0.74 Up 1.19% 974,400 2,442,730 - - - - - IWM Down 1.92% 84.10 Up 1.59 Up 1.93% 44,140,941 109,895,000 - - - - - IWN Down 6.22% 80.35 Up 1.43 Up 1.81% 983,100 2,587,670 - - - - - IWR Down 1.72% 111.16 Up 1.51 Up 1.38% 74,900 308,651 - - - - - IYH Down 0.78% 72.30 Up 0.54 Up 0.75% 14,300 172,071 - - - - - IYR Down 15.59% 80.18 Up 0.95 Up 1.20% 3,384,200 7,055,190 - - - - - OIH Down 2.28% 192.08 Down 1.88 Down 0.97% 3,918,100 9,210,920 - - - - - QQQQ Up 1.23% 52.79 Up 1.02 Up 1.97% 86,487,461 136,051,000 - - - - - RTH Down 5.90% 102.31 Up 1.91 Up 1.90% 2,417,600 5,493,300 - - - - - SMH Down 6.83% 38.58 Up 0.61 Up 1.61% 4,855,200 11,572,500 - - - - - SPY Up 0.12% 155.71 Up 1.69 Up 1.10% 86,123,206 206,924,000 - - - - - TTH Down 0.74% 41.59 Up 0.25 Up 0.60% 20,100 215,860 - - - - - XHB Down 41.87% 23.27 Up 0.40 Up 1.75% 805,650 5,288,870 - - - - - XLB Down 0.79% 42.92 Up 0.69 Up 1.62% 1,933,512 8,242,280 - - - - - XLE Down 1.80% 74.93 Up 0.18 Up 0.24% 8,774,100 23,759,900 - - - - - XLF Down 6.06% 35.84 Up 0.34 Up 0.96% 19,525,127 60,935,300 - - - - - XLI Down 0.29% 41.65 Up 0.52 Up 1.26% 1,274,800 5,398,800 - - - - - XLK Down 0.15% 27.43 Up 0.32 Up 1.18% 1,374,000 3,022,440 - - - - - XLP Down 0.18% 27.98 Up 0.08 Up 0.29% 2,153,000 2,298,960 - - - - - XLU Down 4.61% 41.16 Up 0.58 Up 1.43% 2,372,700 8,137,180 - - - - - XLY Down 6.61% 38.01 Up 0.69 Up 1.85% 2,690,100 3,831,330

Edited by hiker, 05 October 2007 - 01:12 PM.

[ogm]

Hiker, We've heard complaints about "low volume" since the start of this rally. I'm simply looking at internals, internals momentum and momentum on weekly/daily/monthly on individual stocks. And the setups are great. Across many sectors and stocks. As for specificaly volume on ETFs, I think the 3 month average volumes there are a little messed up because of that carzy unusual volume we had in August. Now the volumes are simply more normal. Nothing unusual. I'd be concerned when massive volume somes into the market, that would signal distribution showing up. While we keep trending up on normal volume, it looks just fine to me. And sentiment is still horribly bearish. Yes, put call dipped yesterday and scared me a little. But there is still so much mistrust and bearishness. The market is hitting new all time highs on great internals and momentum, and everyone is trying to short it. What could be better ?