Fully invested in secondary oils (100% long)
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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
GMYachtsman - "Markets are never wrong, although opinions ofter are!"
Crude turning higher...
CLQ4 Light Sweet Crude Oil Aug (NYMEX) 36.13 +0.47 328 188221 11:06
Bear Trap Just Slammed Shut!!!...
Imagine what will happen today, when the Fed leaves rates unchanged! That's right folks, oil prices have peaked if not reversed; and as techcharter said, the employment numbers are nothing to write home about. So take advantage of the low volotility, and buy some cheap calls!
(I already have)
Back from the bush... Will post pics on Chuck's site tonight.
put/call ratios improving... rounding bottoms on Intel and the major oils... Let's Rock!
techcharter - What does the jobless claims number have to do with Short Term Trading Using Technical Analysis?
Just curious.
More new highs and less new lows during today's correction.
New highs jumped to 205 and new lows dropped to 23
Let's rock and roll!
I count 5 waes down complete (3 waves of selling) on Nas 5-min.
'Looks like this little correction is over...
LEH back in rally mode, etc.
Hey frank, I can't find the site... Are you sure it's still there? Can you post a link?
Thanks
Whew! What a day! I did a total of 12 trades. When I got stopped out of my DVN puts for a slight loss, I waited way too long to repurchase the calls. As a result, I ended up doubling my position at a higher strike. Thanks to XOM and GNSS my account was "up the limit"
After the dust settled, I noticed that I would have made even more if I had done nothing!
I think I'll take another trip into the "interior" (Brazilian outback) and let my positions ride for a few days.