Replies to post #36035 on ajtj99's Market Pulse

[jjstingray]

I love hearing all the bullishness. With this starting to look ugly, I know AJ, it is early. But when everyone starts talking higher targets, I start getting bearish.

http://www.cboe.com/data/IntraDayVol.aspx


http://stockcharts.com/def/servlet/SC.web?c=$cpc,uu[h,a]daclyyay[dc][pc10!d20,2!f][vc60][J9854748...

I am starting to price some puts for a trade.

[jrintl]

I am trying to understand why you have closed the door on yesterday's action being distributive. Granted, there are arguments for some short-term up (some of the trend lines you posted), and we may break up thru today's highs at any time, but haven't we mostly just gapped up here (so far) and the real test is breaking up thru (today's high) as a show of strength?

In other words, I'd think the gaps up today shouldn't change your basic argument yesterday/day before YET (or correct me if I'm wrong)

[michael03332002]

not sure HOW we power on up when some of the biggies like EBAY, RIMM, GOOG, AMZN, YHOO are down and some pretty good

profit taking, short selling, what is going on here?

M