18 replies to this topic

[thespookyone]

OGM-Sure it will, the market is dynamic. Just don't change the great work you have been doing-you've had some great takes, both long and short.

[ogm]

For example.. Credit Crunch



Or this...

[Trend-Signals]

Chief - let's go!! ?



http://www.stockchar...92375&r=460.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=4&dy=0&i=p29666812241&a=115499637&r=70.png
http://www.stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=4&dy=0&i=p12256120174&a=116141288&r=766.png
http://www.stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=4&dy=0&i=p93730240635&a=115683364&r=469.png
http://www.stockchar...92643&r=752.png

http://www.stockchar...09398&r=157.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=2&dy=17&i=p98670794592&a=79285156&r=270.png
http://www.stockcharts.com/c-sc/sc?s=$INDU&p=60&yr=0&mn=2&dy=17&i=p98670794592&a=115940541&r=286.png
http://www.stockcharts.com/c-sc/sc?s=$COMPQ&p=60&yr=0&mn=2&dy=17&i=p56734971977&a=95692191&r=957.png

[Trend-Signals]

$SOX at support

-52wH +52wL Symbol Close change % chg 52wk H 52w L
-16.65% 2.82% $SOX 457.93 2.75 0.60% 549.39 445.35
-13.99% 8.73% SMH 34.25 0.04 0.11% 39.82 31.50
-26.18% 10.62% ALTR 19.37 0.09 0.47% 26.24 17.51
-17.96% 11.79% AMAT 18.87 0.12 0.64% 23.00 16.88
-42.74% 16.86% AMD 13.17 0.21 1.64% 23.00 11.27
-24.14% 12.44% BRCM 32.62 0.31 0.95% 43.00 29.01
-23.85% 21.76% IFX 14.27 0.17 1.21% 18.74 11.72
-1.03% 42.93% INTC 26.80 0.32 1.21% 27.08 18.75
-18.76% 8.83% KLAC 50.91 0.09 0.18% 62.67 46.78
-15.94% 9.86% LLTC 32.65 0.13 0.40% 38.84 29.72
-14.33% 19.93% MRVL 18.29 0.11 0.61% 21.35 15.25
-31.39% 11.74% MU 10.47 0.03 0.29% 15.26 9.37
-24.83% -0.56% MXIM 26.55 (0.56) -2.07% 35.32 26.70
-15.02% 16.54% NSM 25.23 0.53 2.15% 29.69 21.65
-20.89% 8.59% NVLS 27.69 (0.02) -0.07% 35.00 25.50
-35.29% -0.25% TER 11.99 (0.10) -0.83% 18.53 12.02
-18.98% 13.70% TXN 32.11 0.11 0.34% 39.63 28.24
-20.92% 6.35% XLNX 24.12 (0.11) -0.45% 30.50 22.68


http://www.stockcharts.com/c-sc/sc?s=$SOX&p=D&yr=0&mn=11&dy=0&i=p32041841407&a=71270540&r=858.png

[dcengr]

Trend-Signals.. you don't have to double post the same stuff on multiple threads. More exposure of bullish views don't make it more likely the market will go up. Having said that, yes I agree chips are very oversold and appears to have hit support. I'm sure if they were meant to bounce, this is better than any other place to bounce. Good luck with your trades.

[Trend-Signals]

This is your thread, and I posted on my thread. Are you reading both? No, I just posted the bearish, weak sectors. That is not bullish. -52wH +52wL Symbol Close change % chg 52wk H 52w L Volume -18.98% 1.13% AIG 59.12 1.96 3.31% 72.97 58.46 37,699,631 -22.51% 1.99% ALL 51.25 (0.60) -1.16% 66.14 50.25 8,115,800 -11.34% 8.37% AXP 58.42 (0.04) -0.07% 65.89 53.91 9,617,050 -18.10% -0.81% BAC 45.11 (0.21) -0.46% 55.08 45.48 51,570,770 -3.67% 39.15% BK 47.20 (0.17) -0.37% 49.00 33.92 9,037,088 -13.33% 27.76% CI 49.93 (2.07) -3.99% 57.61 39.08 4,239,700 -27.04% 2.82% COF 61.17 (1.27) -2.04% 83.84 59.49 7,743,399 -8.42% 45.89% GS 229.60 (10.89) -4.53% 250.70 157.38 25,177,896 -11.33% 13.48% HIG 94.19 (1.19) -1.27% 106.23 83.00 2,307,600 -18.97% 2.35% JPM 43.15 (0.97) -2.19% 53.25 42.16 39,570,300 -30.24% 22.54% LEH 60.12 0.19 0.31% 86.18 49.06 21,371,968 -41.95% -3.15% MER 57.28 (4.64) -7.46% 98.68 59.14 77,989,898 -21.99% 7.29% MS 58.90 (3.61) -5.78% 75.50 54.90 28,807,099 -33.87% -1.90% RF 25.24 (0.60) -2.32% 38.17 25.73 6,557,199 -15.06% 7.60% USB 31.30 (0.39) -1.23% 36.85 29.09 13,983,380 -27.16% -1.27% WB 42.83 (0.71) -1.63% 58.80 43.38 23,256,200 -14.95% 0.84% WFC 32.31 0.37 1.15% 37.99 32.04 32,732,940

[dcengr]

Yes I'm reading both. I know certain components of techs are reading very oversold.. but the index itself, price hasn't corrected. One of two things will happen: 1) The oversold components will rally, taking the index higher 2) The oversold components will drag the few remaining strong stocks lower You can correct internally without price decay then have the rally resume.. I've seen it plenty of times before. Usually tho, that's accompanied by bearishness in polls. I think thats because many see their stocks go down and turn bearish. Now, sometimes I see components breaking down and price doesn't, and accompanied by bullishness. That tells me that many are owning the strong stocks so they don't give a rats @ss what the other 95 stocks in NDX are doing because most own the 5 stocks still going up... that's usually not bullish because everyone's on the same boat (usually titanic). Whether it'll be 1 or 2, I don't know. I tend to think 2, but could be 1.

[Trend-Signals]

I already commented in that context on my previous comments. This is the recent one. Date:11/4/2007 6:48:57 AM Post #of 4091 Furthermore, during the best months to invest and with positive technical condition, bulls need to show improved breadth going into Q4 earning season in Jan 2008. I am anticipating good earning Q4 reports; however, I will not turn in to bullish camp again with SPX breakout failure since we will again have narrow breadth with a few big cap actions among other bearish factors. Pulling back at this juncture into the end of year tells me that market is taking profit from the big caps while crushing other already weak stocks. Technically and fundamentally, this is bearish market action. Therefore, hyping in Jan 2008 with so called good earning reports is just churning price actions. Taking markets up and down with a few big cap actions will not be taken as bull market since it is bearish. There are other reasons which I have for bearish stance with breakout failure. Also, that will cause many technical failure on many stocks and the failure will take as major failure. The price actions during the next two months going into Jan 2008 will determine future market psychology as far as I am concerned. If market shows breakout failure at this time, I will not see bull hype after showing technical failure at here with other reasons. As stated before, I am looking for successful breakout above 1550 during this uptrend and am looking for a pull back in early 2008. Whether market show successful breakout on this run or not, I will be bearish in 2008; however, with a failure of the SPX breakout, it is more bearish. With successful breakout, I can be a bit more positive in 2008 with better technical readings.

[ogm]

Remember what IBM said on their last CC .... Financials are some of the biggest buyers of technology. Repeat that several times untill that thought settles in. MER and C are going to expand their operations dramaticaly in the next year to accomodate that growth they are experiencing. So will the others. That means their purchases of technology are going to skyrocket. Either that, or I'd short IBM right here Which I'm probably going to do on Monday. SOX max bounce to 475 or so. If that. Its in solid downtrend now.

Edited by ogm, 04 November 2007 - 10:54 PM.