Internals will confirm Price tomorrow
Started by
Darris
, Oct 30 2007 05:10 PM
9 replies to this topic
#1
Darris
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Posted 30 October 2007 - 05:10 PM
No price weakness to speak of, but the internal weakness looks like we should have been down 2% today. Most obvious sell signal the market has seen, or the Bear trap of the century. Dow could close up close to 1000 pts or the spx 100 pts in the next two days. Be ready.
#2
greenie
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Posted 30 October 2007 - 05:12 PM
Dow could close up close to 1000 pts or the spx 100 pts in the next two days.
You sound too bearish. The melt up will much bigger than that
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#3
thespookyone
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Posted 30 October 2007 - 05:35 PM
Internals seemed to confirm price today.
#4
hiker
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Posted 30 October 2007 - 05:36 PM
selloff in the energy sector not a RED flag for your bullish view?
OSX is now down about 9.5% from the October highs...today represents the first OSX close below the 50 day MA since late August.
Hi Darris. best to you.
Edited by hiker, 30 October 2007 - 05:39 PM.
#5
MacRo
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Posted 30 October 2007 - 05:49 PM
Options action makes a ST unload look very probable. 3.01 OEX PC... 
#6
atlasshrugged
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Posted 30 October 2007 - 05:59 PM
Options action makes a ST unload look very probable. 3.01 OEX PC...
i think thats a mistake
#7
thespookyone
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Posted 30 October 2007 - 07:18 PM
Options action makes a ST unload look very probable. 3.01 OEX PC...
i think thats a mistake
Why would it be a mistake? It looked like a steady rise to that number all day on the half hours. Also, SPX PC over 2. Not that that in itself will drop the market, but, "it is what it is".
#8
ronkw
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Posted 30 October 2007 - 08:16 PM
" No price weakness to speak of, but the internal weakness looks like we should have been down 2% today. Most obvious sell signal the market has seen, or the Bear trap of the century."
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I see the internals as non-confirming. Exactly.... a sell signal- big negative divergences. Just waiting on the catalyst (tomorrow)
A pop on rate cut news will be a bull trap.
Fade it, price will promply roll over for the next several weeks, as a cut is already priced into the market.
The internals are seriously lagging behind. I'm 1/2 position short for tomorrow.
my 2 $ worth.
But, I see a couple of techs and Bio Pharma stocks that look to be on verge of huge potential breakouts.
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I see the internals as non-confirming. Exactly.... a sell signal- big negative divergences. Just waiting on the catalyst (tomorrow)
A pop on rate cut news will be a bull trap.
Fade it, price will promply roll over for the next several weeks, as a cut is already priced into the market.
The internals are seriously lagging behind. I'm 1/2 position short for tomorrow.
my 2 $ worth.
But, I see a couple of techs and Bio Pharma stocks that look to be on verge of huge potential breakouts.
Edited by ronkw, 30 October 2007 - 08:16 PM.
#9
mortiz
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Posted 31 October 2007 - 06:51 AM
The market makers dominate the OEX options action, with retail customers having an influence (somebody has to hand their money to the market makers), and the brokerage firms curiously have little to do with the OEX.
The blue curve in the following chart compares the daily markets maker OEX PC ratio versus the retail customer and brokerage firm OEX PC ratio. If the behavior of this indicator continues as it has the past year, the market is not ready for a big hit quite yet.
FWIW
Randy N.
The blue curve in the following chart compares the daily markets maker OEX PC ratio versus the retail customer and brokerage firm OEX PC ratio. If the behavior of this indicator continues as it has the past year, the market is not ready for a big hit quite yet.
FWIW
Randy N.
