8 replies to this topic

[ogm]

47% fully short again. No sh$t.

[A-ha]

47% fully short again. No sh$t.

Yes there will be a blimp tomorrow and I am long QCOM...

[Sentient Being]

My S&P tool indicates that the market is apparently still complacently trending up. So I have to believe there is at least a good posiblity that now that the S&P is testing the bottom of the channel it will soon turn up. I've put two possible buy stops out there (single postions) based on my belief that we may at least have enough time for a swing trade here. I'm looking at AVD which is Agri Chemicals and TM which is Toyota. Toyota got some bad news from consumer reports as posted by others here....so it will be interesting to see if they have any more downside left. I had a buy stop in on TM today but it didn't hit, came dang close though.

[eminimee]

Bulls don't want to hear "almost over"......if the situation is bullish the low was hit today. Another trip down won't be a test.

[ogm]

Bulls don't want to hear "almost over"......if the situation is bullish the low was hit today. Another trip down won't be a test.

Not really, it can drop to 55 EMA + / - a a couple points, currently at 1512 and still be bullish. But short term indicators are now well into oversold territory. And there is definitely enough puts now purchased ready to be burned.

At the same time realtive errosion in price comparing to indicators wasn't that significant. And I'm not even talking about the Nasdaq.

From my perspective this is still an uptrend.

Actually this is the first dip in the uptrend and thats why it will be bought with 90% certainty. The question what will it do after its bought and how strong will the move be.

Edited by ogm, 17 October 2007 - 08:32 PM.

[Sentient Being]

WM (Bank Stock, mortgage lender) reported something like a 72% decline in profits

It's going to be interesting to see if they get slammed in the morning. They had warned so much of the hit may already be priced in. It's hard to tell. I've watched that stock for years and it's sure getting punished this year.

I think it's got more bad news coming over the next few quarters.

[ogm]

WM (Bank Stock, mortgage lender) reported something like a 72% decline in profits

It's going to be interesting to see if they get slammed in the morning. They had warned so much of the hit may already be priced in. It's hard to tell. I've watched that stock for years and it's sure getting punished this year.

I think it's got more bad news coming over the next few quarters.

These banks are tricky. They'll use the opportunity to wright a lot of stuff off, and then will use it to beat estimates in quarters to come.

Who knows. they certainly said some bad things. But we all know that allready.

[pisces]

47% fully short again. No sh$t.





I believe the pullback is over,at least for now.



today is a bradley turn



AIREDALE is looking for a 10 week low right here



bearishness seems to be increasing.



todays upmove looks impulsive,in more then one way.



everyboby and his brother is looking for S+P 1510 or so,so we go there for everybody to safely load up on the long side.yeah,sure,



NEXT TARGET S+P 1650 or so,BEFORE yearend....



Good luck all,and remember the Market is always right.........



Pisces

[JAP]

Yep... the PPT is at it again.