Edited by NAV, 29 February 2008 - 03:55 PM.
Bear resumes
Started by
NAV
, Feb 29 2008 03:53 PM
30 replies to this topic
#1
NAV
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Posted 29 February 2008 - 03:53 PM
NYSE Breadth MCO took out the 2/21 lows.
NYSE Vol MCO took out the 2/6 lows.
Daily trendline from Jan lows broken.
Important ST pivot at ES 1346 broken.
That SPX 1400-1430 IT target was so popular, that it got undershot.
It takes just one day to change the entire technical picture. It's not called a bear market for no reason. Weeks of price action gets wiped out in hours.
#2
SemiBizz
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Posted 29 February 2008 - 03:59 PM
Well, the bad news is 1327 low broke on volume,
The good news?... lemme get back to you on that.. 
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
q4wer
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Posted 29 February 2008 - 04:03 PM
Well, the bad news is 1327 low broke on volume,
The good news?... lemme get back to you on that..
SemiBizz, what does that mean? 1327 broken on volume. We will go down further ?
#4
thespookyone
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Posted 29 February 2008 - 04:08 PM
Agreed, NAV. It was good enough for me to play 2 days ago, although I know by most reasonable standards-I was frontrunning.
#5
IYB
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Posted 29 February 2008 - 04:10 PM
Actually, that one's easy. The good news is that we are short accross the board.Well, the bad news is 1327 low broke on volume,
The good news?... lemme get back to you on that..
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” ― Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds
#6
arbman
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Posted 29 February 2008 - 04:15 PM
IYB, I have a feeling that a lot of the short interest are a bunch of hedge funds trying to stay neutral in a downtrend. Honestly, I was one of them until this morning. So, I do not believe in the P/C and short interest numbers all that much, I think the breadth and the volume has a lot more to confirm with the price than the contrarian thinking. It should probably bounce on Monday (extremely oversold), but this down trend will be probably the fastest before any more bears get on board...
Edited by arbman, 29 February 2008 - 04:17 PM.
#7
eminimee
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I don't care who's fur is flying...
Posted 29 February 2008 - 04:17 PM
Sorry.....I just happen to disagree...........we just put in a very good bottom today.....Monday has the potential of being a very big up day....$#@%^&$& TA...
Here's my TA...
...that seems to satisfy most people....
...that seems to satisfy most people....
#8
humble1
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Posted 29 February 2008 - 04:28 PM
big sign on the corkboard in my trading room:
IN A BEAR MARKET SURPRISES ARE TO THE DOWNSIDE
#9
eminimee
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I don't care who's fur is flying...
Posted 29 February 2008 - 04:30 PM
I bought the close....with options....big time...
#10
SemiBizz
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Volume Dynamics Specialist
Posted 29 February 2008 - 04:31 PM
I'm expecting a test of 2251, a run back as far as 2291 and then DOWN WE GO...
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
