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Registered User
Joined: 3/16/2006
Posts: 2,214
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Registered User
Joined: 3/16/2006
Posts: 2,214
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find my LIVE market updates at twitter.com
type my name , signaltap here http://search.twitter.com/
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Registered User
Joined: 12/19/2004
Posts: 415
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The DOW is as oversold as it was on the Jun 24th low(depending on which stochastic you choose). I'm not saying that it can't go lower but it is beginning to become oversold.
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Registered User
Joined: 2/5/2006
Posts: 1,148
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you might note, volume is low and the neckline break is not decisive, as well.
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Registered User
Joined: 7/1/2008
Posts: 889
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I have good news and bad news...
the bad news is your stock just dropped 90%. The good news is that it dropped on low volume.
hehe
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Registered User
Joined: 9/25/2007
Posts: 1,506
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QUOTE (ben2k9) I have good news and bad news...
the bad news is your stock just dropped 90%. The good news is that it dropped on low volume.
hehe
Good point ben ...
It reminds me of that old adage ... "The most bullish thing that a stock can do ... is go up"
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Registered User
Joined: 3/16/2006
Posts: 2,214
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I see no conviction in this market.Bears in control, olume today is 2 low = capitulation bottom nowhere near,lower markets ahead! $$about 7 hours ago from StockTwits
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Registered User
Joined: 3/16/2006
Posts: 2,214
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= looking 4 a reversal price on huge volume until that day, we'll head lower
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Registered User
Joined: 2/5/2006
Posts: 1,148
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dow rallied off lows to finish positive. hammer time.
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Registered User
Joined: 7/1/2009
Posts: 97
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Ben--I like your point too. We are dealing here with an index, however, not a stock. The stock that fell 80% had an implied volatility in the triple digits whereas the indices right now are closer to 30%. This may make a significant difference (of course, that would be a mother of all backtests and it gives me a giant headache as I start to think exactly how it might be done).
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Registered User
Joined: 3/16/2006
Posts: 2,214
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This Summer and Fall Duldrums! http://tinyurl.com/mhp5ws
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Registered User
Joined: 2/5/2006
Posts: 1,148
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gotta be a little concerned about all the people talking about this head and shoulders.
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Registered User
Joined: 7/1/2008
Posts: 889
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The Dow rallied out of the 2003 bottom on low and declining volume...straight into 2005.
The Dow is a lousy index to use for any kind of market analysis. Too few components, and a nonsensical price-weighting methodology. The SPX is much better.
That being said, the SPX has also had waning volume during this rally.
Funnymony - you talking about the tiny H&S top that formed or the major H&S bottom that is possibly forming?
I'm thinking if we do get more downside, it's going to be a buying opportunity. Too many money managers missed the rally and want to get involved. I'm pretty confident at this point the march low will hold, barring any major exogeneous shocks.
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Registered User
Joined: 2/5/2006
Posts: 1,148
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QUOTE (ben2k9) The Dow rallied out of the 2003 bottom on low and declining volume...straight into 2005.
The Dow is a lousy index to use for any kind of market analysis. Too few components, and a nonsensical price-weighting methodology. The SPX is much better.
That being said, the SPX has also had waning volume during this rally.
Funnymony - you talking about the tiny H&S top that formed or the major H&S bottom that is possibly forming?
I'm thinking if we do get more downside, it's going to be a buying opportunity. Too many money managers missed the rally and want to get involved. I'm pretty confident at this point the march low will hold, barring any major exogeneous shocks.
the h & s top that began about the end of april(the thread starter). looks like a little short squeeze here, and possibly another shoulder on the right side.
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