MID has now been up 9 days in a row
#1
Posted 07 February 2007 - 04:54 PM
#2
Posted 07 February 2007 - 05:11 PM
#3
Posted 07 February 2007 - 05:14 PM
Good catch. Note where S&P was a month after those occurencies. A lot higher. In both cases it had a 1 day decline and then went up and up.
Buy and Hold.
Denleo
These also occured after a sell-off, not after sideways consolidation.
I'm not sure what the relevance of this is. But if I were to do an EW, sure looks like a 5th wave on this leg. Will post a chart later.
Still, I think you'll agree that MID and RUT will consolidate after such a run up at the least.
#4
Posted 07 February 2007 - 05:23 PM
Still, I think you'll agree that MID and RUT will consolidate after such a run up at the least.
And since I was asked about a week ago on the timing, the NDX gave a buy signal today at the close.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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#5
Posted 07 February 2007 - 05:34 PM
#6
Posted 07 February 2007 - 05:38 PM
I don't think they will consolidate, but even if they will, I have no intention of selling my positions. Indexes will be a lot higher days and weeks later. I still see no risk at this point. I will just sit with leveraged long positions and continue to sell puts on top of that to collect premium short-term. This is a beautiful strong market with no top in sight.
Denleo
Thank you for proving my outlook correct
From my blog the other day:
I'm picturing people doubling up their bets.. holding onto bets at all costs now to prove themselves right. Dangerous situation.
#7
Posted 07 February 2007 - 06:07 PM
Yes, in fact, some have even TRIPLED already losing positions as well.I'm picturing people doubling up their bets.. holding onto bets at all costs now to prove themselves right. Dangerous situation.
I guess it works both ways, doesn't it?
Call it the "all in" factor with the same rules applying as it would at the tables.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
#8
Posted 07 February 2007 - 06:53 PM
Edited by pdx5, 07 February 2007 - 06:54 PM.