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You,
agree closed my short out to watch...
2bit
existing home sales 5.1m vs expected 5.35m...bad
2bit
Two,
there will be no rally as long as oil is not supporting it....
2bit
Today is one of those times whereby the short sellers and option players were caught off guard (sleeping)...then if history repeats itself the sellings will intensified in one or two days time when they wake up to reality...then the prudent thing would be to postion oneself for a buy when that matures.
2bit
Thanks, I shorted at around 2.45pm..
2bit
This is a sell signal...first OEX 482 then 472.
2bit
You,
Since I am an option player I have to forerun the ups and downs..If you see it coming down, the option premiums may be cut in half already...but if you are playing stocks ..sure put in a stop and let the profit run.... for me I always leave some on the table...better safe than sorry...
2bit
The burn from Sept3, after FOMC it may retrace to OEX 480...will see
2bit
Folks,
I have a feeling the top is in for this burn...be careful
2bit
Ya, Kaddafi calling Obama his son...you guys are in trouble...LOL
2bit
the retreat this morning was due to build in oil inventory, however looking at the AD issues it would be prudent to exit longs....using the rise in FOMC day..
2bit
Can You say megaphony..
2bit
You,
My last post said if OEX closed below 490 then it is a short but as you can see it is above and in addition the A/D issues are turning up.
Oil and GooG are on starcase to heaven...
Gold is hot...
Rimm is hot...
Finance is hot....
OEX should at least grind up to 500...no sideways..consolidation on the highs and continues to go up
my friend....
2bit
You, et el,
stay away from this site thechartpatterntrader.com...I just took a look at what this guy was saying...and the conclusion was that he is a complete moron...I found so many flaws in his chart pattern that if I had the magic wane, I would force his site to close.....he is misleading a lot of folks out there...
2bit
Hey Foot,
you might have to call another top for the 28th time..LOL
2bit
I have a feeling that oil denoted by OIH is racing back to 160 and above,lifting the market up and pretty soon you will say "recession"? what "recession" LOL
2bit
It appears that the market is consolidating at the highs and anticipation is a breakout to the upside...
2bit
You,
the A/D issues have greatly improved....a lot of people has 1120 as a target
2bit
From Evil, Bear arrest..
2bit
It's Goldman Sach again, manipulation to no end...
Throw away your charts, Fibs and lies...and your 3.3% down days NM....
Sach told the world to short the US dollar....
therefore, Gold, Oil commodities will rise and here we go again market rallies....
2bit
You, mean cementation of stoc as in stoc pops...
not so fast, the A/D issues are falling apart...in other words unless they turn around tomorrow... there aren't no bear traps....
2bit
The short sellers are scared shitless.....
A funny phenomenon today...the profit takers have to help out the short sellers. But the fundamentals are deteriorated fast. OEX 490 is the key. Close below is a short.
2bit
Just my 2bits...
Judging from the short sellers Put buying sentiment which will probably peak in a day or two and the market will be pulled down a bit early next week. However, the dip buyers have not budged and it appears that from counting the number of up/down days there will be another 8-10 days of moderate rise to the end of the month for about 10 OEX points to 500ish before a sizable pullback. This of course depends on how severe a damage the Put buyers can do to the market next week. Having said that I am on guard to being a buyer or a seller. At this juncture, the probability favours the long side.
good luck all
2bit
that must been right after I left as an audience LOL
2bit
We may see some reaction here for the next few days first 1050 then perhaps 1035 before another advance...out to watch...
2bit
How does a -0.01 from 42.42 constiture a 3.3% down day?
Ur f'cast good as always, nutting's changed...
Bears will be toasted, hmmm and we like it...woohooo...
2bit
Foot,
You forgot Euro...am I glad I am back from Europe...It is like 5 bucks a cup of coffee there now...and of course a buck a pee...LOL
2bit
Believe it or not...
OEX 575 H&S target?? conforming to a C&H
2bit
always oex call options in in the morning out by the close..
no sell signal yet
2bit
No just a small fly
2bit
good show You
2bit
MC, Welcome, glad you make it over here...
2bit
Den,
I gave up on ewave long time ago...notice Evil Rat's ewave always contains 2 options...an up and a down option....
As to Zero, he just can't read his own system...he reads it upside down...
2bit
You, SDP, Den, Rab et al.,
go through Sept/14 Oscar video, this guy has market sense...
2bit
http://www.youtube.com/user/futuresanalysts
From Evil Rat,
Just do not understand why this guy is fighting the tape so much....is there a glory to being different ...?
"There’s the early morning drop to lure in a few more bears - and then watch the POMO cash being levered and deployed as evidenced in price and signal strength on the Zero Lite.
I added more puts towards the close today - but don’t do what I do as I’m crazy like that and my bearish disposition approaches the demented. If you can’t take the pain wait for a reliable signal that P3 is in session - there is no way to reliably call a top on this thing. Blow off tops have a nasty habit of pushing way beyond what you thought would be your max pain threshold."
2bit
SDP,
VIX and SPX disconnect is not something new. Bear in mind VIX is from option traders and they only constitute a portion of the market. That is why under certain conditions they predict nothing. People like Cobra tried to use frequency statistics to gauge the next day. For example, if they both rise or both fall, such and such a % of time the next day is an up/down day. Guess what, they are missing a huge chunk of cycle analysis and all they got is a probability from the frequency school that is no better than 50/50 chance. My experience is that if both VIX and SPX rise, watch out bears, price action always win in a bull market. I think you can say the reverse is true for a bear market.
2bit
Nice you,
all academia...I am more concerned about probabilities..
I guess will soon see...
2bit
Bear Slaughter Alert,
Tomorrow could be an explosive up move....
going to the Gym for a 5km run..release of stress...
2bit
SDP,
I do not have premium subscription, so I just briefly state here. I find most people are unnecessary bearish. If you look at the A/D issues, putting all technicals aside, you can basically buy with impunity. As I mentioned in my previous posts, this is a trick period and if you use technicals 101, you will get burnt. Everyday, I am just buying the dips and getting out at close until it does not work. Next time around I can just buy and sit it out and watch all the bears pass me their money.
Just my 2bits, from your chart, I would not short until the price action falls below the blue line. Too many are searching for bad news to support their bearish arguments. You do not have to go too far, just look at the market internals and shut your eyes and ears to noise. Good luck
2bit
Sorry Rab, don't know anything about Commercial Real Estate..
2bit