Fully invested in secondary oils (100% long)
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aire - Yes, it was on channel 22. John Bollinger was the con-artist's assistant. He used to pitch his "Bollinger Bands"
Oils at new all-time highs in spite of lower crude (bullish).
If the market ignores dissapointing earnings from CSCO, that would be bullish. If the market doesn't rally hard on a good report from CSCO, that would be bearish. (It's not the news, but how the market reacts to the news.)
So many waiting to "buy the dip" that I don't expect much of a dip anytime soon... Short-term cycle lows could be nothing more than pauses on the way up.
frank - don't worry about "funny-mentals"
Who knows? Weekend hang-over? Profit-taking from Friday? Your guess is as good as mine!
In bull markets, most Mondays are flat to lower.
frank - maybe low volatility is nothing more than low public participation, and therefore lower option premiums
frank - Do you agree with FA that low market volotility equates to high complacency? A ten-year chart of the VXO shows that the last time volotility was this low was in 1995, and you know what happened after that!
aire - Using monthly charts, it looks to me like we are just beginning 3-3 up from the bear market bottom in October 2002, so apparently we are in agreement. Yes, I too, have heard that Don Wolanchuk is one of the best. He has made comments on the financial news channels for decades!
XOI OIH - Oils continue making new highs!
FA - MACD and moving average crossover are on a BUY on all of your time-frames!
Bull markets close strong on Friday! (with a correction on Monday)
got a slightly larger 2 up off the low...
(now starting wave 3)
I expect we close in green across the board...
(Thursday is often at least a short-term reversal day)
Not if you look at Dow and Naz...
It just cleared it!
Looks like low of day is in... higher lows and higher highs on 1 min for all three averages! RALLY TIME!!!
airedale - thanks for charts and great TA!
The Value Line chart is also very impressive.
cash - It could also be an Island Bottom (from Jan 20th to 28th) which would probably make more sense cycle-wise.
XOI - Oil stocks at new all-time high!
XOM leading oils to new all-time highs!
If the Iraqi election is not a total disaster, it will be the catalyst for a resumption of the power at the start of this advance. (relief rally)
airedale - XOM is in a big ascending triangle!
Lower low on Dow and Nasdaq 5 min not confirmed by SPX. (bullish)
blasher - this is true, however I have never been able to create any kind of trading system or derive any predictive value from COT data. Maybe it is because too many people think they can. Who knows
correction - blasher - all three are exactly where they were at the March lows... Go figure!
xe2dy - Actually all three are exactly where they were at the March bottom. Go figure!
Microsoft Q2 earnings rise sharply; sales rise 6.5% (MSFT) By Michael Paige
LOS ANGELES (MarketWatch) -- Microsoft Corp. (MSFT) late Thursday said its fiscal second-quarter earnings rose to $3.46 billion, or 32 cents a share, from $1.55 billion, or 14 cents a share a year earlier. Sales rose 6.5 percent to $10.82 billion from $10.15 billion. Wall Street analysts, on average, had anticipated earnings of 29 cents a share on sales of $10.55 billion, according to a Thomson First Call survey.
yes, and the final low in the nasdaq was not confirmed by the SPX or the DJI (bullish)
I am referring to the market reaction to MSFT earnings, not the reaction of MSFT itself. In other words, I agree!
If the market continues to advance from now until close of trading, and MFST does not disappoint (it almost never does), tomorrow should be a steller day (gap and run)! That would make today a classic Thursday Reversal Day.
Oil stocks are leading the advance.
Oils are strong across the board!
linzy - bullish divergence on all 3
usa = I see next support at NDX 1473 (so a little more than a tad lower)
cash - the ratio on the SPX is now 5.90
linzy - Its good afternoon here in Fortaleza, although expecting rain over the weekend. Yes, I agree that the bottom is in, although I dont expect a very powerful advance until next week (due to to short term pressures from Bradley, crude oil, etc.) Boa tarde
DALLAS (CBS.MW) -- Oil stocks rallied in Friday morning trading as crude rose after OPEC said it expects greater demand in 2005 than previously expected.
Then again, maybe not!