After reaching extreme levels of panic few days ago, in last two trading session there is a bit of stabilization. The move post Fed action was subdued, which is not a very encouraging sign. So most likely scenario would be attempted retesting of the recent lows.
As the market attempts to stabilize here, my vacation is getting over and after sitting in cash through the entire turmoil, I will be back in USA by midweek. Updates will be infrequent as I am currently in transit.
18 comments:
Awesome work.
stockbee:
is there a site where I can go to monitor the intraday 4% up readings. Most of the screeners I use limit it to 200 stocks?
barcharts.com
Click "Market Momentum"
Click "percent advances"
IMHO the next leg after this "stability zone" will be DOWN. Dont invest money on my advice though.
Not that the Blogger poll is one of my major indicators, but it is bullish and it makes a lot of sense to fade this poll in the intermediate term.
A retest of the lows would be no surprise and a good longer term buying opportunity.
Barcharts.com is not working.
Is it Bigcharts.com for intraday monitoring???
Hi the crew, it's barchart.com, not barcharts.com. Hope you find it.
http://www2.barchart.com/padvance.asp
oops, my mistake
Hi,
do you think this rebounce is the definitive one?. It's the moment to be long again?.
I dont trust these low volume rallies.
Semsons, since Pradeep is not back I will pass on that IBD did not call today (Wednesday) a confirmation day. FWIW, I feel it was based on WHICH stocks moved, but that is just me and I don't have Telechart to do the Pradeep market monitor calculations.
I think we will all be very happy when Pradeep returns. The next time he schedules a vacation I think I will too!
Market looks higher here.
Market just has completed a correction.
Short Squeeze will propel market higher very soon. Record "Public Shorts" again. The Bears will feel the pain.
See my recent posts, Oversold and Bear Trap, you may like them.
Swimmer
One cannot ignore all the "good" news coming out of COF, CFC, BAC, LEH, et al. Time to play squeeze the shorts. Watch out for the next shoe to drop. LOL. Ive been a bull at heart for the last 5 years, but for now, lets just say Im grudgingly a bull....
Haha. If you are just buying now you are LATE again.
Check out my new intraday trading blog: ftrading.blogspot.com
I think we are going to see a pop-and-drop. Indexes might make a stop run up here but I don't think it will be sustained and I expect to fall right back into the recent range.
F.
I dunno what others are doing but I have a whole bunch of puts. Also have some calls.
BTW, the puts & calls make up about 5% of my portfolio. Play the options game at your own risk. I do not hold any stocks right now. Too many negatives / possible negatives out there. I'll wait it out.
Nice call on the pop & drop F, short term at least. Good stuff. If it stays that way, would like to hear your thoughts in more detail. cheers.
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