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Yes, that could be the watershed moment, or so/so report and we muddle through untill the music stops.
Buyers want in at any cost +3 is considered a dip. Risk is high...both long and short. Happy New Years to you and yours.
Out to cash.
Rising wedge/Ending diagonal on the SPX is a bearish pattern. It looks like it's going to close at the apex. I'm with PT...big move coming early next week.
Scary is that so many are looking for a Jan. surge to sell into. The market normally confounds the most.
I was unable to log in this morning but am now logged on about 2 minutes ago.
Will likely short SPX...getting close on the ending diagonal.
Shorts are looking tempting, particularly SPX. The Rut had a similar pattern past few days which broke above and came back a bit yesterday to the top TL.
Went from long to flat. It would be nice to get some price volatility again...
Keeping long and taking profit on Dow short from 10,855. Gotta catch a plane to Florida. Merry Christmas all.
Slackers.
Think we're going to move before the close? ...zzzzzzzzz.
A bit counter intuitive since Dow has been outperforming but I think if this bull run has more to go the rotation will be back to high beta. BTW there's something incongrous with Dow leading the market...normally a sign of a top.
Went 100/200 short Dow and 100/200 long Ndx @ AM pricing.
Went to cash.
Hammer time. Could be a trend day.
Back to 200 long @ 1612 NDX.
duplicate.
Oil inventory #'s could move the market.
Took some profit went back to 150/200.
1604 support.
We've got higher lows and higher highs. Downtrend may have ended.
Yep, it did break up...should be good to about 1607 then 1612 resistance.
I don't think it can get away with hanging here. If it doesn't bust a move soon back down IMO.
Nows the time to push.
Yep, one day means very little, the trend is more important. That said, I do give it some weight along with the volatility indexes as a measure of current fear.
They just broke the intra-day downtrend.
Well it looks like rallies are still being sold so maybe we stay contained and close within those boundaries. A solid break should determine short term direction.
Price being contained by 20dma.
$VXO and $CPC rather extreme <ng>
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Yep, it looks like it could break out today/tomorrow.
Probably going from 100 to 200 long.
Bullish sentiment 62.1%. Who's left to buy? Besides me that is.
http://www.vtoreport.com/sentiment/sentiment.htm
I guess I'll close my short hedge and move to 100% long tomorrow. Holding 200% option in reserve.
I'm bearish as hell but gotta stay with the tape during this seasonal craziness. Housing and Auto sectors hold the key to 05 economic health. Neither looking keen right now... We borrowed too much from the future.
Good luck on your gold trade. I'm being a bit more conservative these days as I've given back much of YTD gain by premature shorting.
Unless there's something else going on... the bond guys aren't buying economic recovery. Short rates rising and long rates flat to declining = inverted yield curve. That would be an ominious signal of recession.
They stopped buying puts Friday. I'd be happier if they had more fear.
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Downward sloping consolidation on the 60min looks bullish given the trend. At 80% long 20% short. A computer virus has kept me too busy to post <ngngng>. It'd be a struggle to take it below 1570. Also could be a bull flag forming from late Thurs./Fri. I'll be looking to flip the short to long next week.
No telling but Dec. high Jan. retest not unheard of. Dec 01/Jan 02.
Has the continuing move up changed your top target or time frame? Thanks Zeev.
Lot's of data this week. Culminating in the all important Nov. jobs report on Friday. I think the Bulls take something off the table this week and are in profit taking mode.
Now, to see if Mon/Tues continue the late Fri. move.