8 replies to this topic

[ogm]

It would've done so by now. MSFT and ADBE has joined the NDX push higher. And general A/D looking very good.

[hiker]

fyi...this guy has a good eye -

http://investorshub....age_id=23600266

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http://investorshub....age_id=23600162

Edited by hiker, 11 October 2007 - 11:17 AM.

[nicolasillo]

It would've done so by now.


MSFT and ADBE has joined the NDX push higher. And general A/D looking very good.

we ve got almost 4 hours still to go....... let s see what happens

[Sentient Being]

I'm not seeing the outer limit readings on my custom look at the broader markets that would tell me trend change is coming or arrived. Things are still fairly complacent. But that can change in a day.

[denleo]

OGM, what worries me today is that NASDAQ's breadth is positive. Althought it is not positive by much, it is positive nonetheless. That contradicts 98-99 scenario and argues that it may pull back on a short-term basis. Denleo

[ogm]

OGM, what worries me today is that NASDAQ's breadth is positive. Althought it is not positive by much, it is positive nonetheless. That contradicts 98-99 scenario and argues that it may pull back on a short-term basis.

Denleo

then lets go with a different scenario. The scenraio of 2007 ....

Seriously, though I wouldn't worry much about it. Momentum in internals is very good. The more stocks gain uptrend and momentum the better.

Look at broad indexes like NYSE and RUT. NYSE is leading up today, despite lagging dow. OEX is pushing new hiughs too. And RUT just a few points away from the highs.


Momentum is reaching what Mortiz calls "escape velocity". I like the expression

Definitely there will be pullback somewhere down the road. Maybe tomorrow, maybe next week, maybe the week after that. But with momentum looking like it does it will probably be bought pretty fast.

We have big guys joining the Naz push here. MSFT, ADBE, DELL, I still think INTC is about to break out on earnings too. Those are large market cap heavy weights.

And small guys should start picking up steam if RUT breaks out, and that Naz a/d chart that I posted supports rally in small cap Naz stocks.

So overall.... no reason to worry just yet. Pullbacks aside.

I'd start worrying if we see a crushing downside day with horrible internals and 9 to 1 down volume or something like that. So far I haven't even seen a single distribution day.
And overall I think we'll just follow the normal pattern. Momentum will start fading at some point as price continues to rise. Both in internals and in Price. Then at some point the price will roll over.

Edited by ogm, 11 October 2007 - 11:45 AM.

[Randy]

XAU is leading. This is one of the best indications of ample liquidity still available to power all indexes higher. r

[denleo]

Guys, I don't disagree with you. I am just saying that the probability of a pull back is a bit higher. That is why I closed some longs and hedged others. I don't see problems with this market at all. Denleo

[dasein]

EURJPY straight up since yesterday - could double top here. linear relation. klh