9 replies to this topic

[nicolasillo]

Today it was the second signal in a row, thus the HO is confirmed. Last time we had signals it was on 18/7, 20/7 & 23/7.

[ogm]

One of these days HO will nail another market correction. Or not.

[nicolasillo]

One of these days HO will nail another market correction. Or not.

yeah who knows...I m going to post some graphs with my HO signals and the market....later on though, now I am hungry and going to have dinner

Edited by nicolasillo, 18 October 2007 - 03:49 PM.

[gannman]

thanks for that info nico

[ogm]

Here is the thing. If you watch the market.. its very clear why we have the HO. Its not any kind of a mystery signal. Financials, retail homebuilders keep making new lows. Thats whats dragging the market. But the rest of the market seems to be discounting it for the time being. How long that narrowed advance will last anyone's guess. Will they correct again at some point ? Sure. Probably rather soon. Withing a couple weeks we'll probably have some sort of a top. But.... At this point if you look at daily and 60 min charts of financials, retailers and other stocks that have been dragging down.. they are very oversold. So most likely we'll have a bounce in them. That means the A/D line will improve and the overall market will advance. After that we'll get into position where the leaders are overbought and the laggards bounced, so the all toghether correction will begin. Just an uneducated guess.

Edited by ogm, 18 October 2007 - 03:57 PM.

[tommyt]

it does nail most of the corrections OGM...it just doesnt win in most peoples book cause they think its a crash predictor, which is rediculous. The signal basically says that the market is up with the sticks being pulled out from underneath it...easy to see why a pullback could happen when that setup is there...but a crash? buena suarte!

[nicolasillo]

OGM, I can t be bothered to look back at your July posts, but pls can you tell me if you were bullish around the 20th of July?

Here is the thing. If you watch the market.. its very clear why we have the HO. Its not any kind of a mystery signal.

Financials, retail homebuilders keep making new lows. Thats whats dragging the market.
But the rest of the market seems to be discounting it for the time being.

How long that narrowed advance will last anyone's guess. Will they correct again at some point ? Sure. Probably rather soon. Withing a couple weeks we'll probably have some sort of a top.

But....

At this point if you look at daily and 60 min charts of financials, retailers and other stocks that have been dragging down.. they are very oversold. So most likely we'll have a bounce in them. That means the A/D line will improve and the overall market will advance.

After that we'll get into position where the leaders are overbought and the laggards bounced, so the all toghether correction will begin.

Just an uneducated guess.

[fib_1618]

OGM, I can t be bothered to look back at your July posts, but pls can you tell me if you were bullish around the 20th of July?

If I remember correctly, he was short and bearish when the Dow hit 14,000 during the week of 7/16.

Fib

[nicolasillo]

[ogm]

OGM, I can t be bothered to look back at your July posts, but pls can you tell me if you were bullish around the 20th of July?

If I remember correctly, he was short and bearish when the Dow hit 14,000 during the week of 7/16.

Fib

Thank you Fib.

Yes, I was short in July. Reversed in early August. A little too early, but worked out just fine.