13 replies to this topic

[NAV]

Everything I posted this morning is still intact.

Even despite dow Recovering a whooping 30 points of yesterdays 360 point dump, and SPX recovering almost 2 whole points out of 40.....

Everything in these charts is still intact. And the market has a lot of work to do to make anything look even remotely bullish.

Silly NDX stuff aside.

Momentum setup is not favoring any rallies here. At best the market will jerk up and down in a flatline pattern.

http://www.traders-t...showtopic=78521

OGM, I have to say, I always thought you were a permabull, but you're not. You've made some very good calls here... Nice job.

I had seen only one side of OGM for years on this board - bearish side. Suddenly he turned so bullish this aug bottom, that it was almost violent . But the funny thing is after he turned bullish the market went up nearly 150 SPX points - but he was criticized every step. Now he is a matador, back with a swinging sword in his hand. Since he has turned bearish, the market is around the same levels. Dont' get me wrong. Open-mindedness is an absolutely essential attribute in this business. But does open-mindedness also applies to the bullish side ?

[dcengr]

People would do much better trading if they concentrated on learning about one's own emotions rather than the emotions of some other anonymous trader on an internet board.

[ogm]

I'll turn back bullish just as fast, if I see the setup is right, as it wasn in August. And if financials have all over suddenly bottomed here, then the market will go up from here, and break the line in the sand that I posted in the topic above. I'm not really heavily short. Around 50%. And thats about all I'm going to do, unless I see weekly and monthly charts starting to roll over in a meangful way. Still have a bunch of long positions, and looking for opportunities on the long side daily. I just don't see too many this time.

[JAP]

Everything I posted this morning is still intact.

Even despite dow Recovering a whooping 30 points of yesterdays 360 point dump, and SPX recovering almost 2 whole points out of 40.....

Everything in these charts is still intact. And the market has a lot of work to do to make anything look even remotely bullish.

Silly NDX stuff aside.

Momentum setup is not favoring any rallies here. At best the market will jerk up and down in a flatline pattern.

http://www.traders-t...showtopic=78521

OGM, I have to say, I always thought you were a permabull, but you're not. You've made some very good calls here... Nice job.

BTW, I agree with all of this. Financials are weaker than ever, even with the extra $41 billion injection. Seems like the BKX makes new lows everyday. I know halloween is over, but there are many more skeletons need to come out of the closet before the financials start to firm up.

There are 3-4 stocks holding up the entire NDX.

I feel a very violent move to the downside is on the horizon... just a feeling.

Hmmm, let me see... today we had -360 on the DOW, -44 on the SPX and even more selling in AH.



Much more pain coming... much more.