Doesn't look like it's a gap up day, anybody playing for the bounce in their outside accounts?
I got this following a recent post from XL-entLady: -Looks dicey to me
Doesn't look like it's a gap up day, anybody playing for the bounce in their outside accounts?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
increased some TNA... $tran looks like it will have a slow stoch bullish crossover on the daily and the 30 min intraday are about to put in a punch. Vix is going to take out Friday's low. Shanghai looking like they ate some good dim sum this weekend and have an appetite for risk.
That gap is probably going to fill in the Nasdaq. Volume is pretty low today.
I still think that gap will fill on the Nasdaq, but I have no idea when. I think yesterday also marked a turning point in "Big Easy Money Monday". You had stagnant volume all day as everyone held their 'dead cat bounce tickets' until the close where reality set in and people started to sell. They knew the run-up wasn't happening this Monday, but I'm amazed yet again about the calls for market manipulation on the drop in the last 15 minutes. Where are the calls for manipulation when the market is up every single Monday?
Trying to catch a falling knife... I'm going to buy SSO near the open with some of that cash, for a trade.
From sentimentrader.com. 2% gaps down with pessimism this high...
This data takes out 1 date out of last 25 incidences, which was an anomaly in 2008. The data is a little worse with that date.
Update: Filled @ 33.50. I still have about 40% cash, just in case.
Last edited by tsptalk; 05-25-2010 at 08:34 AM. Reason: Filled...
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
I'm not PLAYING anything, too much politics and economic problems overseas, If I miss something I miss it. I don't think this thing is close to over.
Fedgolfer, just wondering. You seem to post a lot about the Dow Transports. Any particular reason?
In my experience, it has proved as the most reliable chart for swing trading and gives clues when they aren't apparent on the spy/q's/dia. Also, the 30 min candles on the intraday seem more calm than the qqqq's which have pre/post market candles.... which sometimes are right, but in times of panic are usually noise.
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