Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
another profitable dip buy morning....lol
2bit
"The path of least resistance is down (UP). We have gone nowhere (500 DOW PTS UP)since the beginning of June. There's a better chance of a 25% downturn (UPTURN)than upturn (DOWNTURN)at these levels....especially in a bear (BULL) market. "
2bit
Hook & SD,
As I mentioned before I have been working on A/D studies. It gave me incredible insights into the market and that is where I build my confidence. I can say this much " as long as the McClellan Oscillator" is above 0, buy on dips or hold long. As long as the MO is below zero, sell on rallies or hold short. It is as simple as that. Don't waste too much time on H&S, wedges, VXO, VIX etc etc.....Gurus are saying VIX rising, but I bet it will fall like a pussy...when VIX rises and price keep rising...that tells you market is not controlled by options alone...
good luck
2bit
Two,
The market was pumped up by future contracts this morning....program trading due to TRIN came later.
I was one of the momentum traders he referred to
that bought into the market but I made money...
not sure what his points are... there is always program trading...as a matter of fact there are trading techniques
to trade options alongside program trading years ago...don't tell me he is just aware of them...
In any case, the market was consolidating to go higher with or without program trading...
2bit
Why do traders have this urge to short the market? Why can they not just follow the trend? Is it because they feel safer to short it? Why do they always have this mentality that anything against gravity is bad???
I see another upleg in the work...
2bit
Fox, does today look like a 200 Dow pts day to you?
2bit
Oman ,
It is only 4 points to your target... this is the bulls ultimate revenge...lol
2bit
Fox,
I now come to believe that the Fed is manipulating the market through Future contracts....most indicators were pointing down...except the A/D issues were saying don't you dare bears..and Bernake just bought up the futures....
2bit
You have to trade in nanoseconds...lol
2bit
should go long on the morning dip...looks like it will break SPX 1000 today??
2bit
Hiker,
According to A/D issues, it certainly is...
2bit
sounds like another buying opportunity...LOL
2bit
Oman,
They skew the volume...for all you volume watchers..
2bit
Day trade the indexes... fairer
2bit
Rab,
This does not bother me at all, I consider volume as the most useless indicator and never use it. Just like people keep saying this is short covering after a week of advance.
2bit
Do Not short this market...
Fujisan's 3 drives pattern has prompted me to revisit the relationship between NYMO and OEX and I think the near term SPX target of 1046 (OEX 482)is real. From then on the advance will be slower but it will be taken over by TTheory to keep advancing till the high of summer 07 is reached by summer 2010. Your long term money should be all in.
For near term, we have another 4 days to a week to advance another 26 OEX points (56 SPX or another 500 Dow points approx.) If you believe in this, which I do, you should get out of your shorts immediately and go long to rip the last gasp of the thrust.
The daily has exhibited a 1-2-3 up pattern already and if anybody is a cup and handle expert, I would love to see the target too.
I think the following charts are self-explainatory..
2bit
same here..
feels like no countries for a "short" man
2bit
What did I tell you..this chart pattern trader Walker is no good, he closed his short positions today just before the pending drop tomorrow,...of course after missing all this upleg...and holding onto his shorts...
at least evil rat has the guts to add to short positions... I just love evil rat's wave guide...he is projecting spy down to 94ish...me being the conservative type will probably close out around 95-96 if it gets there...
I am only down to two gurus now..t theory guy and the evil rat...although evil rat should be spanked for missing out on this upleg...but his wave counts are good and has a fr..ing sense of humour...
good luck folks
2bit
May the remaining bears speak up...
2bit
Whose's going to buy these toilet papers? Holy
2bit
http://market-ticker.denninger.net/archives/1256-HOLY-!!!-Treasury-Auction-Schedule.html
Ha, Rab, a million dollar question..
my best guess is down to oex 440 max (SPX 950ish) and then continue up....this is a bull market man....
2bit
More.. AAPL, GooG, Rimm....
2bit
Wink Wink Foot,
add AXP and POT to the list,,,down down down...
2bit
they are talking about the inverse H&S now
2bit
Folks,
Beware R3 does not work in a bull market as attested by Bobjack
2bit
Oman,
u've never been on a roller coaster ride?...slow up...fast down...
2bit
Do we get this 1-2-3 pattern or not?
2bit
The volatility index has completely broken down....no more bears left
2bit
I got a turtlesoupsell for OIH and a turtlesoupbuy for DUG
2bit
Hey NM,
da boyz went wild without u exposing them, come back and post more
2bit
Hook
Excellent answer. But I do learn something from this T Theory guy...will do more studies on his echo theory.
Thanks and good luck
2bit
Folks,
be aware of this "Chart Pattern Trader" video introduced here a while ago...he has no idea what he is talking about...the only sustainable theory is T Theory...concentrade on A/D issues folks....the Dow may reach 1000 points...before pullback like in March....you should drop all gurus advocating a sell... there is no sell signal yet
2bit
No offence, but who really cares about 3-6 years from now if one could not handle the near future...do you think one could handle the distant future??
2bit
Just the number of bearish sentiment in this and other boards is enough to get me go long soon...
2bit
T Theory forecast, bull market, will reach high of March 07 by August 2010.
A buy recommendation. Nov and Mar lows were double bottom a W...
2bit
Oman,
are u kidding me...knowing the gambler's nature of the board they rather throw the $10 into the market than donate and btw what are all these Christians doing in this chart room, isn't God against gambling?
2bit
ok OTC, u have a friend, Fujisan..
2bit
http://evilspeculator.com/
OTC, Green shoots...
Is there any evidence for a bearish case??
2bit
Oman,
If you want people to believe in your prediction, you have to ask for money...of course Gleno wouldn't take them ...he has to pay to believe..LOL (sorry Gleno, just couldn't help)
2bit
Rab,
Turtlesoupsell, is based on closing high on past 20 days...reverse is true for turtlesoupbuy.
wait till it pushes through the head then it is all clear for long..I will go all in...
2bit