Replies to post #54110 on SPDR S&P 500 (SPY)

[Footquarters]

Hi Mr. C








Agree with the fundamentals, with the youth of America walking away from any responsibility for their bad loans or HELOC's that they took out and are not repaying. A lack of discipline in our society towards any personal responsibility in any part of life, funny how the Dems revel in that stupidity, thinking there is no consequence for any action.... That is the first law of nature.
1257 is my goal, then bounce to a larger ABC down maybe. Like you, I am discipline in the trade and just go by the technicals, we are still on sell signals across the board. There has to be a bottom sometime, right? LOL Gleno said I need to have that as a tag line again..LOL





Foot in mouth Charts http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID456385

BTW, You can't fix stupid....

[fishbait]

Hey Steve:

I agree we could go lower due to your stated reasons. I'm thinking we are much closer to an IT bottom than a top. That may go without saying. Anyway, do you use the % stocks above the 50 ma in MVP?

If you switch to weekly and check the STO, it's clear that we are prpbably not there yet.



Also, do you consider volume spikes with MVP? Even considering summer volume, it's not there yet.

[be]

MVP, even though I am a very short term trader (15 min to 30 min time frames) . I agreed with you 100%) . I have seen and monitored VOLUME in real time several occasions on CAPITULATION days which having a very high VOLUME selloff , untill that day happens , this market will grind lower until everybody throw in the towels and abandon ship (vix will be in the range of 35 to45 ). More than decade ago , I still remembered the day that I made 35k in one day , I went all in when VIX was at 35 and sell one day later( full long position WCOM SUNW BAC LU VOD ).

Thanks for sharing your work .







Thanks, 359

Stay alert ! get out if wrong

Some days you've got it & some days you don't. Recognize the "Don't got it Days" & stay out. (omadan)

It is better to take a small loss than to wait for it to become a profitable trade. (Dr. Farooq)