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Agree. BS rally.
Ndx attempting to put in a hammer on the daily. Squeeze is on.
If it holds I won't be 200 long fer sure.
1537 needs to hold
Could have to do with pension funds...or not.
http://www.investorshub.com/boards/read_msg.asp?message_id=8094582
That wedge broke up as expected and the break was just retested. 1540 should hold the day if we're in bull mode.
Ascending triangle supposed to be bullish in an uptrend.
Core CPI came in lower than market was priced for....All BS that CPI.
Shorts should feel the heat.
Surprised you can understand what I'm saying in my 4 AM posts. When I read the reply and the origional post I don't even understand what I was saying/thinking in the wee hours. LOL... should stop doing that unless I'm more together.
Long taken yesterday closed slightly green today. .15% But hey, better than another beating.
I'm looking for the 38.2% retrace at 1553. 50% is at 1563. Ramping the Futes on good volume this morning...let the squeeze/jam begin.
About the time trading systems get a go long. Might be worthwhile to watch how the various system traders on the CS thread handle it.
Have you gone long for a bounce or waiting in cash?
The down has come easy. All of a sudden all the BS we were shorting mattered. JimQuince's momentum work seems to have something to it.
I cannot see any other reason for the drop except an exaustion of bullish momentum.
Nova/Ursa a lousy timing tool, but at .16 the lowest I remember seeing it this year.
Didn't track it prior year.
What I'd really like to see is data on the Dynamic 2X funds to guage capitulation. Being on the wrong side is not for the faint of heart. Been there, and with yesterdays switch long, there again.
From a source...
Note that the deadline for calendar-year pension funds to make the quarterly contributions is October 15th. So a significant chunk of money will probably flow into the stock market within the next few days.
Ndx was the last to give it up. Perhaps that relative strength bodes well for rally time...when it comes.
New Highs/Lows and the Nahl are oversold but others can fall further. Gives weight to short term rally within longer, deeper DT.
Maybe a short squeeze is due?
Stockcharts at 10:45. Could be off in a fast trend.
Looks due for a reset before more down I think.
Pricing is 1532.86 w/rsi5 at 17.5.
Gotta run out later for routine blood work. The poke & stick only takes 3 minutes. It's the waiting around I detest.
On second thought threw in the whole enchilada for 200%. now hold it down till 10:45.
Covered short and flipped long same 120%.
Probably be adjusted to the closing number.
Equity Put/Call Ratio 0.64
http://www.cboe.com/data/mktstat.aspx
Futes gap down often a reversal signal. I may go long AM for a bounce too.
Pumping the futures this morning, up 8.50. Selling early has been working so adding 10% to ryvnx for 120/200. Wed. before opex usually sees a dump/planning to exit tomorrow if that happens.
Nope, start work at 5 am, get home after market close. Made a little on that buy today...
Looks like I got 1552 and change. Pre market looked stronger than what happened at the open. Was looking to short higher but not complaining the way it turned out.
Went back in half short. Tough read this morning but looks like up open.
Notice the symetrical triangle on the 60 min.? According to http://www.chartpatterns.com/ it should be traded as a continuation pattern in the direction of the trend.
At 2 a.m. Sunday, Oct. 30 Daylight Saving Time ends.
http://community.emeraldcoast.com/article.showarticle.db.php?a=2475
Hi Steve. Interesting spot here on the markets. Gap down looks like a short term buy. Gap up short term short. (ST 1-3 days.)
I think we see indecision this week with good swings in both directions. But once the consolidation period ends the trend remains down.
Create a new board with a new moderator. You?
If interested use this link. http://www.investorshub.com/boards/hub_grps.asp
Click create new group in top left corner. Choose Free Zone so all have access.
I tried to create it for you but could not choose someone other than myself (creator) as moderator.
If your not willing perhaps another would volunteer to actively moderate?
Take it or leave it. Just my 2 cents worth.
Amazing...wanna trade my money too? <ggg>
Made a high for the year at up 12.12%. But still 10-12% below last years high point.
Going to cash this morning. I need more time to study charts and indicators.
Thanks for the generous offer but I'll probably muddle through in my usual manner.
The wild card is the job report. Nasty I think, but probably priced in.
If the bounce comes tomorrow it should be sold... so, I anticipate other profit taking opps.