Replies to post #28700 on ETF SWING & DAY TRADING

[rcptrader]

Last post of the day.

The permabears keep shorting and buying puts. Even some bulls are cautious. The contrarian in me is very happy.

Positiontrader, AI's stoploss of 1734 has a very good chance of being hit per the NDX weekly chart. He has stated that that is what would negated his 200 point down forecast (which had very little basis to it to begin with in my opinion).

Here's an NDX weekly chart. Note the upper Bollinger is currently just under 1750. Once the upper bands are touched, the tendency is to print a few more upside candles as the bands continue to expand.

[Torqputty]

"feel" suspicious?

thats right jim, leave the feelings out, my sentiment is still to the downside but forget all that, price is going up,

[SyndicateTwo]

These are two reasons why I don't like the market right now...


1) Read this article by Gary Tautbaum:

http://www.tradingmarkets.com/.site/Swingtrading/commentary/gkitermi/-50641.cfm


2) If you look at this chart, you'll see that the Q's and thus the NDX are lagging the Nasdaq bigtime right now. You'll see that the last major high the Q's were at around $43.30 when the Nasdaq was lower than it is now back in Jan. I don't think that's a very good sign. We'll see. I think a lot of people are getting suckered into this.

[rcptrader]

Looking at the 30min Vix setup versus QQQQ http://www.investorshub.com/boards/read_msg.asp?message_id=8268402, the buy setup is evident again. Am hoping for an AM dip to top off the reloading process.