6 replies to this topic

[hiker]

risk to 154 or so

too many were on the short side today

not even a medium size bet

Edited by hiker, 17 October 2007 - 02:23 PM.

[ogm]

Not impressed by the comeback ?

[hiker]

how can it be bullish when price remains in the lower BB channel?

[ogm]

how can it be bullish when price remains in the lower BB channel?

True, but its only 20 MA.

I'm watching 33/55 EMA's for bottom. DOW has bounced exactly from 33 EMA on daily. Touch and go.

I still think this is just a normal pullback within the trend. Just relieving the overbought move.

[hiker]

overhead supply seems to be increasing in the current action.... just my take the kissback I mentioned in another thread may hold if retested. where is the bullish bias return? some points above current levels when looking at SPX 60min...all the usual ma's on the 60min are declining..let's see if price can surpass them. 1548/49 would be a good horizontal on 60 min to surpass to regain the bullish bias.

Edited by hiker, 17 October 2007 - 02:53 PM.

[dowdeva]

Something else to consider:

http://quote.prophet...mp;frequency=5m

[thespookyone]

Hiker-Nice play. You've had some solid takes lately. I can also see overhead supply getting heavy, distribution, and agree that we are currently out of what would be the bullish channel. Closing under the channel two days in a row now, even after the moback today, doe not support the bullish case here,VST. This could be a quite sharp and fast drop-best of luck on your trade! Spooky