Fully invested in secondary oils (100% long)
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July 14th is 2nd most bullish day of the year! (Jan 31st is the best)
Combine that with "blowout earnings" from INTC, and we could see a "MELT-UP" (at least that's my prediction)
On the other hand, our old friend Joseph Granville is predicting a "CRASH BACK DOWN TO THE 2003 LOWS!!!
Meanwhile Intel is consolidating for a big move one way or the other... (place your bets)
frank - I see it dipped below 1429 and then popped back obove it... is this a "headfake?"
frank - I see we drifted down to 1429.22 before this little rally began... 'sounds like a "successful test" (of support)
After the close tomorrow IMO
ie. price times daily trading volume.
cash - "dollar volume" = current price times volume.
cash - usually just in the money or whatever has the highest "dollar volume" (not volume).
qqq, but I don't have any now. (mostly calls on major oils, and some oil stocks)
cash - jwg buys "deep-in-the-money" puts and calls for very short-term trades. He as made several such trades so far today (all very successful). If his current trade does not pan out, I trust he will be stopped out with a very small loss.
Congrats also to jwg for some great day trades!
I agree, and I second the kudus to mrcash.
Crude oil higher...
Crude Oil (CLQ4) Aug 04 39.76 40.75 39.46 40.68 +0.72 11:09
Re. Russion market... Inverse Complex H&S Bottom?
denmo - Congratulations! Great chart... it confirms a lot of indicators and sentiment measures that this is an IT bottom.
USA - Thanks for the update... Now I feel more comfortable about my plan to stay long through opex.
gl/gt
Yeah! Chuck, Let's Rock & Roll! eom
"never sell a dull market"
Maybe it's just "consolidating" for a big rally into the close (or a "gap & run" on Monday) LOL
I think Ziggy is right... we should all be long a strong through opex!
I see 5 waves down on Nas 5min complete.
Since this is just a "retest" I wouldn't expect much volume.
I think it just did! Market internals rapidly improving! IMO it's rally time! Straight up from here! Thursdays are often "reversal days"
Long and strong! LOL
Nope! I say we "gap and run"
That "corrective three" could have also been "wave 1" with wave 2 completing now and wave 3 up to follow through close.
"markets are strongest when they look the weakest and markets are weakest when they look the strongest"
translation:
markets are impulsive when they look corrective and markets are corrective when they look impulsive
OK Guys! Retest was successful...
tick, trin, pcr, all improving now...
http://www.cboe.com/MktData/default.asp
Rally Time!
jwg - You're on! I bet it's going higher from here...
market internals reversing now.
frenchee - Be Careful! The signals we refuse to take often turn out to be the most profitable ones! Don't get left behind when the train leaves the station!
We finally got a BUY signal on the RSI today...
http://vtoreport.com/rsi.htm
Let's Rock and Roll!
For those who care about "funnymentals" and can't see the forest for the trees...
http://www.briefing.com/harrisdirect/stocks/ecdata/leader.htm
IMO "The bear party is over!"
techarter - Your FUTSI chart shows stochastics extremely oversold and about to trigger a buy signal. The MACD is showing bullish divergence. It is therefore pretty safe to assume that the support level you mentioned will probably hold.
GL/GT
Put/Call ratio looking good...
http://www.cboe.com/MktData/default.asp
'Looks like bottom is in.
I can't see it because I don't subscribe to stockcharts as jwg does.
Gap theory says "bottom is in!"
It's a wonder the market didn't go lower considering the big jump in the price of crude oil...
Crude Oil (CLQ4) Aug 04 37.05 39.10 36.69 38.74 +1.69 07/01/04
Rally Time!
put/call ratio looking good!
market leaders moving up!
Bottom is probably in!
Triple Bottom Forming on all indexes... Let's Rock!
cash - 'Starting to look more likely now!...
"otherwise, we bottom NOW, and then still go back up to about NDX 1520-1540 by tomorrow, although this looks very doubtfull right now."
Crude Oil (CLQ4) Aug 04 35.63 36.99 35.52 36.99 +1.33 13:19
Put/Call ratios improving...
http://www.cboe.com/MktData/default.asp