All donations go towards web site maintenance for all of Technical Watch,
keep it free of charge, and may be tax deductable as an investment expense.


PayPal Verified
Join our market chat sessions every Tuesday and Thursday at 4:00 pm Pacific time!
More information on subscriber services can be found at
http://www.technicalwatch.com/subs.htm




Support Technical Watch!
Buy from our Book Store!
Register Calendar Latest Topics
 
 
 


Note: This topic is locked. No new replies will be accepted.


Reply
  Author   Comment  
fib_1618

Moderator
Registered:
Posts: 4,495
Reply with quote  #1 
2013-11-12 15:59:56 [Message] fib_1618 -> Chat: good day
2013-11-12 15:59:58 [Message] fib_1618 -> Chat: how is everyone?
2013-11-12 16:01:48 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2013-11-12 16:02:48 [Message] thespookyone -> Chat: Not much selling pressure...
2013-11-12 16:03:07 [Message] fib_1618 -> Chat: nope
2013-11-12 16:03:30 [Message] fib_1618 -> Chat: however...the intraday trend of money flow continues to look "heavy"
2013-11-12 16:03:48 [Message] thespookyone -> Chat: yes
2013-11-12 16:03:51 [Message] fib_1618 -> Chat: pattern wise...we have flags in a lot of the charts
2013-11-12 16:04:06 [Message] fib_1618 -> Chat: still waiting for "something"
2013-11-12 16:04:25 [Message] fib_1618 -> Chat: maybe some relief with OPEX this Friday?
2013-11-12 16:04:43 [Message] fib_1618 -> Chat: OK...let's get DP up and take a look around
2013-11-12 16:05:05 [Message] fib_1618 -> Chat: after seeing a strong reversal on Friday
2013-11-12 16:05:15 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO had a small point change on Monday
2013-11-12 16:05:25 [Message] fib_1618 -> Chat: and closed a little bit lower today
2013-11-12 16:05:55 [Message] fib_1618 -> Chat: we also see that we remain below two areas of "blip resistance" above current levels
2013-11-12 16:06:01 [Message] fib_1618 -> Chat: and until these areas are taken out
2013-11-12 16:06:06 [Message] fib_1618 -> Chat: the bears have the upper hand
2013-11-12 16:06:19 [Message] fib_1618 -> Chat: looking at the components
2013-11-12 16:06:35 [Message] fib_1618 -> Chat: and we see that the 10% snapped back to the zero line over the last couple of days
2013-11-12 16:06:42 [Message] fib_1618 -> Chat: but moved back below it today
2013-11-12 16:06:48 [Message] fib_1618 -> Chat: while the 5% remains above its zero line
2013-11-12 16:06:59 [Message] fib_1618 -> Chat: all in all suggesting corrective activity at this time
2013-11-12 16:07:29 [Message] fib_1618 -> Chat: and the NYSE CO breadth MCSUM has now fully snapped back to the +500 level settling today with a +494 reading
2013-11-12 16:07:46 [Message] fib_1618 -> Chat: so we could go either way here
2013-11-12 16:08:23 [Message] fib_1618 -> Chat: though the better bet would be for another bounce from here with the +500 level providing some support...at least temporary
2013-11-12 16:08:44 [Message] fib_1618 -> Chat: moving to the NYSE Composite breadth MCO
2013-11-12 16:08:59 [Message] fib_1618 -> Chat: and we see that the broader market remains quite weak here
2013-11-12 16:09:11 [Message] fib_1618 -> Chat: with only a small bounce noted
2013-11-12 16:09:25 [Message] fib_1618 -> Chat: and we're still well below the blip resistance areas seen on the chart
2013-11-12 16:09:46 [Message] fib_1618 -> Chat: meanwhile...the NYSE Composite breadth MCSUM continues to unwind nicely
2013-11-12 16:10:31 [Message] fib_1618 -> Chat: and we can see how money flow has picked up speed to the downside of late
2013-11-12 16:10:54 [Message] fib_1618 -> Chat: especially after we broke the +500 level on Thursday
2013-11-12 16:11:16 [Message] fib_1618 -> Chat: but on a somewhat positive note
2013-11-12 16:11:28 [Message] fib_1618 -> Chat: the 10% Component here moved to a lower low today
2013-11-12 16:11:48 [Message] fib_1618 -> Chat: diverging with the MCO itself
2013-11-12 16:11:57 [Message] fib_1618 -> Chat: when this happens
2013-11-12 16:12:13 [Message] fib_1618 -> Chat: this is usually a point where we have some sort of bounce in the pattern
2013-11-12 16:13:04 [Message] fib_1618 -> Chat: but then if we put ruler to monitor
2013-11-12 16:13:18 [Message] fib_1618 -> Chat: we see that the NYSE breadth MCSUM broke below its rising bottoms line today
2013-11-12 16:13:38 [Message] fib_1618 -> Chat: and this maybe a trigger to our "double hump" exhaustion signal mentioned a week or two ago
2013-11-12 16:13:54 [Message] fib_1618 -> Chat: let's see how the NASDAQ data looks
2013-11-12 16:14:43 [Message] fib_1618 -> Chat: now here we see that the NASDAQ breadth MCO showed much better strength over the last couple of days than what we see in the NYSE
2013-11-12 16:15:00 [Message] fib_1618 -> Chat: but we still have a bit of overhead blip resistance here as well to overcome
2013-11-12 16:15:08 [Message] fib_1618 -> Chat: no less the zero line above current levels
2013-11-12 16:15:26 [Message] fib_1618 -> Chat: and as we touched upon last week
2013-11-12 16:16:26 [Message] fib_1618 -> Chat: in order for the NASDAQ breadth MCSUM to hold above the horizontal support we're now challenging
2013-11-12 16:16:47 [Message] fib_1618 -> Chat: we will need to see the NASDAQ breadth MCO move above this same blip resistance
2013-11-12 16:16:50 [Message] fib_1618 -> Chat: and ideally
2013-11-12 16:16:58 [Message] fib_1618 -> Chat: back above the zero line
2013-11-12 16:17:16 [Message] fib_1618 -> Chat: looking at the NASDAQ MCO components
2013-11-12 16:17:29 [Message] fib_1618 -> Chat: and we see that they are both pretty much neutral here
2013-11-12 16:17:46 [Message] fib_1618 -> Chat: so it's time for one side or the other to make their statement
2013-11-12 16:18:06 [Message] fib_1618 -> Chat: moving to the NDX breadth MCO
2013-11-12 16:18:22 [Message] fib_1618 -> Chat: and here we see better strength of trend
2013-11-12 16:18:56 [Message] fib_1618 -> Chat: but we still have the comparable blip resistance area we had on the NASDAQ MCO to still overcome
2013-11-12 16:19:56 [Message] fib_1618 -> Chat: meanwhile...the NASDAQ breadth MCSUM continues to show little in the way of downside follow through by the sellers after last Thursday's rout
2013-11-12 16:20:33 [Message] fib_1618 -> Chat: and now that the buyers have broken above the declining tops line in the MCO
2013-11-12 16:20:47 [Message] fib_1618 -> Chat: things could go either way here near term
2013-11-12 16:21:23 [Message] fib_1618 -> Chat: you can also see the inherent strength here by looking at the NDX components
2013-11-12 16:21:29 [Message] fib_1618 -> Chat: which are both back above their zero lines
2013-11-12 16:22:08 [Message] fib_1618 -> Chat: maybe we have an indecision pattern here with the MCSUM forming?
2013-11-12 16:22:19 [Message] fib_1618 -> Chat: if so...
2013-11-12 16:22:36 [Message] fib_1618 -> Chat: we should see the MCSUM turn up by Thursday
2013-11-12 16:22:50 [Message] fib_1618 -> Chat: with the objective there of the +750 level
2013-11-12 16:23:09 [Message] fib_1618 -> Chat: we'll see how it goes
2013-11-12 16:23:41 [Message] fib_1618 -> Chat: Friday's hard reversal also moved the SPX breadth MCO back to its zero line
2013-11-12 16:24:07 [Message] fib_1618 -> Chat: and you can see how the SPX breadth MCSUM has continued to move sideways
2013-11-12 16:24:34 [Message] fib_1618 -> Chat: with the main focus of how congested the MCSUM postings have been up until today
2013-11-12 16:24:48 [Message] fib_1618 -> Chat: this tells us that there are very little in the way of heavy sellers here
2013-11-12 16:25:05 [Message] fib_1618 -> Chat: and this is keeping prices buoyant
2013-11-12 16:25:39 [Message] fib_1618 -> Chat: same kind of situation with the OEX breadth MCO and MCSUM
2013-11-12 16:26:05 [Message] fib_1618 -> Chat: though just like everything else we have reviewed so far
2013-11-12 16:26:37 [Message] fib_1618 -> Chat: the buyers still need to show some fresh buying here in order to move the MCO's back above their respective blip resistance areas
2013-11-12 16:27:01 [Message] fib_1618 -> Chat: which would then free prices up for further gains...and in many cases, new all time highs
2013-11-12 16:27:31 [Message] fib_1618 -> Chat: a beautiful complex bullish structure continues to be traced out in the Dow breadth MCO
2013-11-12 16:28:09 [Message] fib_1618 -> Chat: and the advantage of knowing and understanding such pattern structures is that the longer the MCO can stay above (or below) the zero line in this fashion
2013-11-12 16:28:27 [Message] fib_1618 -> Chat: the longer (and stronger) the underlying price advance will likely be
2013-11-12 16:28:35 [Message] fib_1618 -> Chat: so in this context
2013-11-12 16:29:02 [Message] fib_1618 -> Chat: the Dow isn't really close in finishing its price advance
2013-11-12 16:29:42 [Message] fib_1618 -> Chat: and that the last couple of days could be construed as a simple snapback action to the previous high points of the last 6 months
2013-11-12 16:30:12 [Message] fib_1618 -> Chat: and now that the Dow breadth MCSUM is up to the +500 level
2013-11-12 16:30:35 [Message] fib_1618 -> Chat: it's really up to the buyers to flex their collective muscles here to make their point
2013-11-12 16:31:22 [Message] fib_1618 -> Chat: the MID is showing some better strength in the last couple of days
2013-11-12 16:31:45 [Message] fib_1618 -> Chat: as the MID breadth MCO has also taken out its first blip resistance level
2013-11-12 16:32:16 [Message] fib_1618 -> Chat: and now is facing the dubious challenge of not only the reaction spike a couple of weeks ago
2013-11-12 16:32:22 [Message] fib_1618 -> Chat: but also the zero line itself
2013-11-12 16:34:18 [Message] fib_1618 -> Chat: here too we have both of the MID components above their zero line
2013-11-12 16:34:34 [Message] fib_1618 -> Chat: so it would seem that we're setting up for "something"
2013-11-12 16:34:52 [Message] fib_1618 -> Chat: while the market continues to wait for "something" to probably trigger this same event
2013-11-12 16:35:51 [Message] fib_1618 -> Chat: the SML breadth MCO found support at its rising bottoms line on Friday
2013-11-12 16:36:18 [Message] fib_1618 -> Chat: but hasn't shown a lot of follow through as yet
2013-11-12 16:36:38 [Message] fib_1618 -> Chat: and looking at the components here
2013-11-12 16:36:43 [Message] fib_1618 -> Chat: they also remain above their zero line
2013-11-12 16:36:56 [Message] fib_1618 -> Chat: this is why most people HATE indecision patterns
2013-11-12 16:37:09 [Message] fib_1618 -> Chat: as you have so many cross currents going on
2013-11-12 16:37:18 [Message] fib_1618 -> Chat: that many lose their patience
2013-11-12 16:38:08 [Message] fib_1618 -> Chat: and the TM breadth MCO found resistance at the -25 level
2013-11-12 16:38:39 [Message] fib_1618 -> Chat: with the 5% component now testing its zero line
2013-11-12 16:39:10 [Message] fib_1618 -> Chat: overall then
2013-11-12 16:39:32 [Message] fib_1618 -> Chat: probably the best analysis that we have from all of this garbage is that we're likely in a larger trading range
2013-11-12 16:39:59 [Message] fib_1618 -> Chat: with a range between 1750 and 1775 on the SPX
2013-11-12 16:40:37 [Message] fib_1618 -> Chat: and if the sellers don't take advantage of the push they made on Thursday pretty soon
2013-11-12 16:40:48 [Message] fib_1618 -> Chat: they will, again, lose their control of things
2013-11-12 16:41:09 [Message] fib_1618 -> Chat: boy...talk about a whipsaw on Thursday and Friday
2013-11-12 16:41:32 [Message] fib_1618 -> Chat: the sellers were so confident on Thursday that they broke many trends
2013-11-12 16:41:50 [Message] fib_1618 -> Chat: but then they lost just about all of this momentum on Friday's jobs "surprise"
2013-11-12 16:42:12 [Message] fib_1618 -> Chat: one thing that did set off my "spidy sense" over the weekend
2013-11-12 16:42:26 [Message] fib_1618 -> Chat: was how the interest rate A/D lines were sagging lower
2013-11-12 16:42:37 [Message] fib_1618 -> Chat: but even there
2013-11-12 16:42:39 [Message] fib_1618 -> Chat: we're not consistent
2013-11-12 16:43:12 [Message] fib_1618 -> Chat: as the NYSE Specialty CEF A/D line continues to fight the weakness seen in the Bond CEF and REITS
2013-11-12 16:43:33 [Message] fib_1618 -> Chat: moving to the volume McClellan's
2013-11-12 16:45:44 [Message] fib_1618 -> Chat: and we see that the NYSE CO volume MCO is having the same problems as its breadth cousin is having
2013-11-12 16:45:55 [Message] fib_1618 -> Chat: with blip resistance above current levels
2013-11-12 16:46:48 [Message] fib_1618 -> Chat: but looking at the NYSE CO volume MCSUM you can see the lack of downside volume over the last couple of days
2013-11-12 16:47:09 [Message] fib_1618 -> Chat: and interestingly enough
2013-11-12 16:47:20 [Message] fib_1618 -> Chat: we settled today not only just above the +500 level
2013-11-12 16:47:37 [Message] fib_1618 -> Chat: but we also rest on the rising bottoms line from the September lows
2013-11-12 16:48:00 [Message] fib_1618 -> Chat: with the components here on the NYSE CO volume MCO still positive
2013-11-12 16:48:28 [Message] fib_1618 -> Chat: the odds suggest that we're going to see at least a bounce attempt as soon as Wednesday
2013-11-12 16:49:10 [Message] fib_1618 -> Chat: the NYSE Composite volume MCSUM is also resting on this same rising bottoms line
2013-11-12 16:49:56 [Message] fib_1618 -> Chat: in fact the configurations on the MCO, Components, and the NYSE Composite volume MCSUM are just about identical
2013-11-12 16:50:22 [Message] fib_1618 -> Chat: looking at the close up chart of the NYA
2013-11-12 16:50:40 [Message] fib_1618 -> Chat: and you can also see the outline of what looks like a bullish flag formation
2013-11-12 16:51:02 [Message] fib_1618 -> Chat: though it is getting a bit long in the tooth
2013-11-12 16:51:10 [Message] fib_1618 -> Chat: and when this happens
2013-11-12 16:51:24 [Message] fib_1618 -> Chat: it's sort of like when a price structure trades within the apex of a triangle
2013-11-12 16:51:30 [Message] fib_1618 -> Chat: it can literally go either way
2013-11-12 16:51:46 [Message] fib_1618 -> Chat: OK...
2013-11-12 16:51:52 [Message] fib_1618 -> Chat: now moving to the NASDAQ volume MCO
2013-11-12 16:52:01 [Message] fib_1618 -> Chat: and here we're seeing good strength of pattern
2013-11-12 16:52:23 [Message] fib_1618 -> Chat: as we have broken above short term horizontal resistance
2013-11-12 16:52:42 [Message] fib_1618 -> Chat: but at the same time
2013-11-12 16:53:02 [Message] fib_1618 -> Chat: with our breaking below horizontal support on Thursday in the NASDAQ volume MCSUM
2013-11-12 16:53:18 [Message] fib_1618 -> Chat: it's going to take a lot more than what we see here in order to turn things around near term
2013-11-12 16:53:53 [Message] fib_1618 -> Chat: the NDX volume MCO is also showing good strength here
2013-11-12 16:54:03 [Message] fib_1618 -> Chat: in fact, it has now snapped back fully up to its zero line
2013-11-12 16:54:33 [Message] fib_1618 -> Chat: and this has now stalled out the declining pattern structure of the NDX volume MCSUM right at what should be horizontal support
2013-11-12 16:55:30 [Message] fib_1618 -> Chat: looking at the NDX volume components
2013-11-12 16:55:44 [Message] fib_1618 -> Chat: and they're not only above their zero lines
2013-11-12 16:56:11 [Message] fib_1618 -> Chat: but we also see that the 10% has also snapped back the 5% Trend
2013-11-12 16:56:19 [Message] fib_1618 -> Chat: so...what's it going to be?
2013-11-12 16:56:40 [Message] fib_1618 -> Chat: are we building up strength for a crossover buy signal?
2013-11-12 16:56:57 [Message] fib_1618 -> Chat: or are we at internal resistance and due for some near term weakness?
2013-11-12 16:57:17 [Message] fib_1618 -> Chat: pick you side
2013-11-12 16:57:42 [Message] fib_1618 -> Chat: the SPX breadth MCO is neutral here
2013-11-12 16:57:47 [Message] fib_1618 -> Chat: so one side is about to take control
2013-11-12 16:58:02 [Message] fib_1618 -> Chat: and look at the lack of downside volume here on the SPX volume MCSUM
2013-11-12 16:58:27 [Message] fib_1618 -> Chat: so now that we're back to being balanced between the two sides on a short term basis
2013-11-12 16:58:44 [Message] fib_1618 -> Chat: the next day or so will probably be the tipping point to what's going to happen for the intermediate term
2013-11-12 16:59:00 [Message] fib_1618 -> Chat: with our upside target of 1825 still out there
2013-11-12 16:59:22 [Message] fib_1618 -> Chat: there's some unfinished business to be sure still left for the bulls
2013-11-12 16:59:49 [Message] fib_1618 -> Chat: especially since all the sellers were able to do is provide a one day ambush...with little in the way of success coming from it (at least so far)
2013-11-12 17:00:07 [Message] fib_1618 -> Chat: same thing with the OEX data
2013-11-12 17:00:13 [Message] fib_1618 -> Chat: one thing's for sure here
2013-11-12 17:00:31 [Message] fib_1618 -> Chat: the market is in perfect sync between both breadth and volume of their respective baskets
2013-11-12 17:00:38 [Message] fib_1618 -> Chat: and intramarket as well
2013-11-12 17:00:50 [Message] fib_1618 -> Chat: given that the trend has been up for the last several months
2013-11-12 17:01:06 [Message] fib_1618 -> Chat: would then give the benefit of any doubt there might be to that trend
2013-11-12 17:01:30 [Message] fib_1618 -> Chat: the Dow volume MCSUM continues to lead its breadth cousin to the upside
2013-11-12 17:01:56 [Message] fib_1618 -> Chat: and with the Dow volume MCO maintaining a bullish complex pattern of its own
2013-11-12 17:02:24 [Message] fib_1618 -> Chat: and the Dow is certainly showing a lot of support at current levels
2013-11-12 17:02:50 [Message] fib_1618 -> Chat: we're also neutral (at the zero line) on the MID volume MCO
2013-11-12 17:03:34 [Message] fib_1618 -> Chat: but the MID volume MCSUM's continuing to move sideways could be interpreted as being bullish or bearish all dependent on the bias
2013-11-12 17:03:50 [Message] fib_1618 -> Chat: bottom line though...it's indecisive
2013-11-12 17:04:01 [Message] fib_1618 -> Chat: as is the SML volume MCO
2013-11-12 17:04:16 [Message] fib_1618 -> Chat: as the SML volume MCSUM treads sideways
2013-11-12 17:04:53 [Message] fib_1618 -> Chat: and the TM volume MCO will need a bit more strength here to break any chance of a bearish ambush near term
2013-11-12 17:05:33 [Message] fib_1618 -> Chat: no less to find a way to halt the downside slide of the TM volume MCSUM as it approaches its horizontal pattern support seen on the chart
2013-11-12 17:05:35 [Message] fib_1618 -> Chat: so...
2013-11-12 17:05:50 [Message] fib_1618 -> Chat: place your bets
2013-11-12 17:06:13 [Message] fib_1618 -> Chat: but the disciplined thing to do here is to continue to sit on our hands for a bit more time
2013-11-12 17:06:26 [Message] fib_1618 -> Chat: and see which side really wants to take the reigns
2013-11-12 17:06:46 [Message] fib_1618 -> Chat: too much garbage to really take a trade
2013-11-12 17:06:50 [Message] fib_1618 -> Chat: and if you do
2013-11-12 17:07:18 [Message] fib_1618 -> Chat: you have decide which basket of issues will give the best odds of success
2013-11-12 17:07:28 [Message] fib_1618 -> Chat: right now...
2013-11-12 17:07:41 [Message] fib_1618 -> Chat: who really knows?
2013-11-12 17:07:50 [Message] fib_1618 -> Chat: let's see how the volume oscillators look
2013-11-12 17:08:15 [Message] fib_1618 -> Chat: all the STVO's are neutral here
2013-11-12 17:08:26 [Message] fib_1618 -> Chat: except the Dow
2013-11-12 17:08:41 [Message] fib_1618 -> Chat: and the CVI's are also not showing their hand here either
2013-11-12 17:09:19 [Message] fib_1618 -> Chat: VTO's are now beginning to lose their "overbought" tenure here
2013-11-12 17:09:46 [Message] fib_1618 -> Chat: so it might be that we'll have to wait until they get a bit close to their zero lines for the action to begin there
2013-11-12 17:09:49 [Message] fib_1618 -> Chat: which means by Thursday
2013-11-12 17:10:09 [Message] fib_1618 -> Chat: NYSE TRIN at .86
2013-11-12 17:10:19 [Message] fib_1618 -> Chat: Open 10 at 92
2013-11-12 17:10:21 [Message] fib_1618 -> Chat: neutral
2013-11-12 17:10:34 [Message] fib_1618 -> Chat: NASDAQ TRIN at .67
2013-11-12 17:10:47 [Message] fib_1618 -> Chat: Open 10 at .90
2013-11-12 17:10:51 [Message] fib_1618 -> Chat: neutral
2013-11-12 17:11:01 [Message] fib_1618 -> Chat: TM TRIN at .64
2013-11-12 17:11:11 [Message] fib_1618 -> Chat: Open 10 at .89
2013-11-12 17:11:20 [Message] fib_1618 -> Chat: yes, that's right, neutral
2013-11-12 17:11:56 [Message] fib_1618 -> Chat: let me check the BETS
2013-11-12 17:12:15 [Message] fib_1618 -> Chat: futures are flat
2013-11-12 17:12:26 [Message] fib_1618 -> Chat: check the calendar
2013-11-12 17:12:36 [Message] fib_1618 -> Chat: you sure this isn't the end of August? [smile]
2013-11-12 17:13:44 [Message] fib_1618 -> Chat: +20
2013-11-12 17:13:51 [Message] fib_1618 -> Chat: but the internals are weakening overall
2013-11-12 17:14:00 [Message] fib_1618 -> Chat: as we said on Thursday
2013-11-12 17:14:02 [Message] fib_1618 -> Chat: once again
2013-11-12 17:14:28 [Message] fib_1618 -> Chat: the bulls really need to again step up, HERE and NOW, or this continuing slide will start to accelerate
2013-11-12 17:15:05 [Message] fib_1618 -> Chat: bottom line:
2013-11-12 17:15:06 [Message] fib_1618 -> Chat: hold
2013-11-12 17:15:22 [Message] fib_1618 -> Chat: with protective bearish stops below market on any longs still open
2013-11-12 17:15:32 [Message] fib_1618 -> Chat: but the sellers aren't showing any backbone here either to short, so cash seems to be the best option
2013-11-12 17:15:41 [Message] fib_1618 -> Chat: drip drip drip
2013-11-12 17:15:47 [Message] fib_1618 -> Chat: anything else?
2013-11-12 17:15:51 [Message] fib_1618 -> Chat: any other opinions?
2013-11-12 17:16:28 [Message] thespookyone -> Chat: on several indexes, pattern wise-it looks to me like a complete ABC, and the next up move started
2013-11-12 17:16:56 [Message] thespookyone -> Chat: twt
2013-11-12 17:16:57 [Message] fib_1618 -> Chat: well...if that's the case
2013-11-12 17:17:07 [Message] fib_1618 -> Chat: we need to start to "rock and roll" quickly
2013-11-12 17:17:27 [Message] fib_1618 -> Chat: as an aside
2013-11-12 17:17:41 [Message] fib_1618 -> Chat: business here dropped off another cliff in October
2013-11-12 17:18:02 [Message] fib_1618 -> Chat: what makes this eyebrow raising though
2013-11-12 17:18:12 [Message] fib_1618 -> Chat: is that we usually slow down in November and December
2013-11-12 17:18:20 [Message] fib_1618 -> Chat: with October usually our best month of the year
2013-11-12 17:18:36 [Message] fib_1618 -> Chat: keeping in mind that our business tends to lead the stock market by about 3 months
2013-11-12 17:18:49 [Message] fib_1618 -> Chat: and this doesn't bode well for the 1st quarter of next year
2013-11-12 17:19:14 [Message] thespookyone -> Chat: but that timing seems right...
2013-11-12 17:19:28 [Message] fib_1618 -> Chat: people here in the state capital are very "worried"
2013-11-12 17:19:34 [Message] fib_1618 -> Chat: though the furloughs are gone
2013-11-12 17:19:59 [Message] fib_1618 -> Chat: and the state workers are getting their checks on time
2013-11-12 17:20:11 [Message] fib_1618 -> Chat: there's an uneasiness in the air
2013-11-12 17:20:52 [Message] fib_1618 -> Chat: anyway...we shall see what we shall see
2013-11-12 17:21:28 [Message] fib_1618 -> Chat: probably a great time to take a vacation! [smile]
2013-11-12 17:21:45 [Message] thespookyone -> Chat: BET
2013-11-12 17:21:51 [Message] fib_1618 -> Chat: anything else?
2013-11-12 17:22:02 [Message] fib_1618 -> Chat: remember that we have Wednesday and Thursday chats this week
2013-11-12 17:22:07 [Message] fib_1618 -> Chat: and we're dark next week
2013-11-12 17:22:22 [Message] fib_1618 -> Chat: but do feel free to use the chat room in my absence if you folks wish to
2013-11-12 17:22:26 [Message] thespookyone -> Chat: although, I have positions on both sides working OK. Just playing the strongest-and weakest
2013-11-12 17:22:41 [Message] fib_1618 -> Chat: it's a stock pickers market to be sure
2013-11-12 17:22:48 [Message] thespookyone -> Chat: yes
2013-11-12 17:23:12 [Message] fib_1618 -> Chat: the Transports had their second highest close on record today
2013-11-12 17:23:37 [Message] fib_1618 -> Chat: and look at the volume spike today
2013-11-12 17:23:59 [Message] fib_1618 -> Chat: the highest volume since the kick off in September
2013-11-12 17:24:04 [Message] fib_1618 -> Chat: that could be a clue
2013-11-12 17:24:08 [Message] fib_1618 -> Chat: a whisper
2013-11-12 17:24:09 [Message] thespookyone -> Chat: thing is too, the QQQ doesn't look bad to me...
2013-11-12 17:24:21 [Message] fib_1618 -> Chat: the internals aren't that bad either
2013-11-12 17:24:42 [Message] fib_1618 -> Chat: as the sellers are still not showing any follow through after near term bursts
2013-11-12 17:24:57 [Message] fib_1618 -> Chat: and this has been the real story of this advance
2013-11-12 17:25:08 [Message] fib_1618 -> Chat: some news event takes place
2013-11-12 17:25:23 [Message] fib_1618 -> Chat: and the selling become an emotional event
2013-11-12 17:25:26 [Message] fib_1618 -> Chat: with no substance
2013-11-12 17:25:34 [Message] thespookyone -> Chat: nope, pretty easy for a bear trap here-and my guess is we are getting put buyers
2013-11-12 17:25:35 [Message] fib_1618 -> Chat: anyway
2013-11-12 17:25:42 [Message] fib_1618 -> Chat: that too
2013-11-12 17:25:58 [Message] fib_1618 -> Chat: I'm very sure that the November puts bought this time around are huge
2013-11-12 17:26:03 [Message] thespookyone -> Chat: call premiums real fair
2013-11-12 17:26:17 [Message] thespookyone -> Chat: puts expensive
2013-11-12 17:26:21 [Message] fib_1618 -> Chat: which means volatility is low
2013-11-12 17:26:45 [Message] fib_1618 -> Chat: yes...VIX is at the lows of the year
2013-11-12 17:26:58 [Message] fib_1618 -> Chat: OK...if there's nothing else
2013-11-12 17:27:01 [Message] fib_1618 -> Chat: I'm going to take off
2013-11-12 17:27:07 [Message] fib_1618 -> Chat: everyone have a great evening
2013-11-12 17:27:08 [Message] thespookyone -> Chat: thx
2013-11-12 17:27:19 [Message] fib_1618 -> Chat: and we'll take a look at the sectors on Wednesday
2013-11-12 17:27:20 [Message] fib_1618 -> Chat: good night

__________________
Dave's LinkedIn Profile

Technical Watch Twitter Page

Technical Watch Facebook Page

"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

0
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.






Copyright 2000-2017 Technical Watch