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fib_1618

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Reply with quote  #1 
2008-06-24 19:02:43 [Message] TradeMark -> Main Room: Hello all
2008-06-24 19:03:19 [Message] jkw -> Main Room: Hello TM
2008-06-24 19:03:43 [Message] TradeMark -> Main Room: Anybody have any comments on market?
2008-06-24 19:05:08 [Message] jkw -> Main Room: It certainly is has a slow drip drip drip feeling to it.  Oversold but don't see any catalyst to turn it around.
2008-06-24 19:05:33 [Message] TradeMark -> Main Room: Agree.....like a bear market
2008-06-24 19:06:05 [Message] TradeMark -> Main Room: One thought about tomorrow.....  There is nothing the Fed can say that anybody will like.  If they say the economy is weak and they may need to cut rates, that will cause a panic.  Yikes,  the economy is even worse than all the news.  If they say they are worried about inflation and need to raise rates soon, everybody will hate it because the implication is they will have to raise rates to double digits to do anything about inflation.  If they say they will remain exceptionally vigilant, people will simply hurl and sell stocks.
2008-06-24 19:06:55 [Message] jkw -> Main Room: Yes......fundamentals are overwhelming bearish now.
2008-06-24 19:07:24 [Message] TradeMark -> Main Room: So if you guys want to help, we can look at the McClellans
2008-06-24 19:07:53 [Message] jkw -> Main Room: Sounds good for me.
2008-06-24 19:08:38 [Message] TradeMark -> Main Room: Common Only taken out flag low of couple weeks ago on breadth mco
2008-06-24 19:10:03 [Message] TradeMark -> Main Room: We have now taken out rising bottoms line on MCSUM ......  Bears firmly in control now....good gap expansion too......downward
2008-06-24 19:11:00 [Message] jkw -> Main Room: Have we taken out the rising bottom line? -323
2008-06-24 19:11:24 [Message] TradeMark -> Main Room: We are somewhat oversold, but I think we could keep on going to March lows...
2008-06-24 19:11:35 [Message] TradeMark -> Main Room: Yes, I think so jkw
2008-06-24 19:11:48 [Message] TradeMark -> Main Room: Is that a question?
2008-06-24 19:13:12 [Message] TradeMark -> Main Room: NYSE just a hair above flag of two weeks ago on MCO
2008-06-24 19:13:15 [Message] jkw -> Main Room: Yes it was......I was thinking that fib mentioned a number last time a little lower,,,but may not make a difference anyway
2008-06-24 19:14:44 [Message] TradeMark -> Main Room: My read on NYSE is that it could bounce or head on lower.....not clear to me which
2008-06-24 19:15:34 [Message] TradeMark -> Main Room: Attempts are rally last couple days pathetic.....breadth even more so
2008-06-24 19:17:39 [Message] jkw -> Main Room: Yes....I agree.....oversold but no buying yet
2008-06-24 19:18:12 [Message] TradeMark -> Main Room: NASDAQ mco looks about even with March flag....good gap expansion on MCSUM.  Moving down smartly
2008-06-24 19:18:37 [Message] TradeMark -> Main Room: My read we test March lows
2008-06-24 19:19:04 [Message] TradeMark -> Main Room: Chime in if anybody has divergent thoughts
2008-06-24 19:19:32 [Message] Lew -> Main Room: Sure we test em, but "when" is important
2008-06-24 19:20:45 [Message] TradeMark -> Main Room: NDX small point change on MCO.....now taken out rising bottoms on MCSUM.....bears rule the land
2008-06-24 19:23:27 [Message] TradeMark -> Main Room: Small point change SPX mco, so expect big move in next two days.  MCO holding above flag low of couple weeks ago
2008-06-24 19:24:06 [Message] TradeMark -> Main Room: Taken out rising bottoms on SPX MCSUM...bears rule and good gap expansion downward
2008-06-24 19:25:56 [Message] TradeMark -> Main Room: OEX about the same....still moving down but holding at recent MCO lows
2008-06-24 19:26:53 [Message] TradeMark -> Main Room: Taken out rising bottoms on OEX as well
2008-06-24 19:30:27 [Message] TradeMark -> Main Room: MCSUM down in area of prior bottoms in Jan and March.....could easily move to lower lows.  Bears have good grip here.
2008-06-24 19:31:47 [Message] TradeMark -> Main Room: Mid caps make lower MCO low.....now challenging march MCO low
2008-06-24 19:32:06 [Message] TradeMark -> Main Room: MCSUM crossed below 0 and is moving with good gap expansion
2008-06-24 19:33:03 [Message] TradeMark -> Main Room: MCSUM will soon be at rising mcsum bottoms line
2008-06-24 19:34:06 [Message] TradeMark -> Main Room: Nothing here makes me want to buy, but getting pretty well sold, could get more sold
2008-06-24 19:35:36 [Message] TradeMark -> Main Room: Small cap lower mco low and has taken out rising MCSUM bottoms line.  Good gap expansion to boot. 
2008-06-24 19:35:46 [Message] TradeMark -> Main Room: Not pretty......if you're a bull
2008-06-24 19:37:48 [Message] TradeMark -> Main Room: On closer look, might not have taken out rising bottom line on MCSUM....my ruler not perfect.....but darn close......will probably take out tomorrow, unless massive rally.
2008-06-24 19:40:32 [Message] TradeMark -> Main Room: New low on TM mco and taken out the recent MCO flag as well as the divergent MCO flag of March.  not yet taken out Flag MCO low of March....good MCSUM gap expansion
2008-06-24 19:40:55 [Message] TradeMark -> Main Room: Overall not pretty MCOs and MCSUM for bulls
2008-06-24 19:42:30 [Message] TradeMark -> Main Room: CVI and STVO pretty oversold and could easily support a bounce from here
2008-06-24 19:42:59 [Message] tahiti -> Main Room: KR, DRI and JBL beat earnings today
2008-06-24 19:43:24 [Message] jkw -> Main Room: What industry are those stocks in Tahiti?
2008-06-24 19:43:39 [Message] tahiti -> Main Room: supermarket, restaurant & semi
2008-06-24 19:43:45 [Message] tahiti -> Main Room: pretty wide section
2008-06-24 19:44:19 [Message] TradeMark -> Main Room: VTO getting pretty oversold as well.....could easily rally from here, or not
2008-06-24 19:45:10 [Message] TradeMark -> Main Room: Volume oscillators would be overall supportive of a rally.....at least a DCB
2008-06-24 19:46:40 [Message] jkw -> Main Room: My feeling is that when Oil commodity rolls over, then we could have a great clearing oversold rally.  There is some nibbling in the refiners here....and July is just around the corner...4 months out from gold top
2008-06-24 19:46:53 [Message] TradeMark -> Main Room: NYSE Arms  at .55, open 10 at .99.......minimal floor
2008-06-24 19:47:33 [Message] TradeMark -> Main Room: .55 Trin on NYSE.....is that right?
2008-06-24 19:48:29 [Message] TradeMark -> Main Room: NASDAQ trin at .68....open 10 at 1.02.....minimal floor as well
2008-06-24 19:48:39 [Message] tahiti -> Main Room: I think the market is waiting for the insolvent banks to go bankrupt.
2008-06-24 19:49:13 [Message] TradeMark -> Main Room: TM trin at .67 and open 10 at 1.02.....minimal floor as well
2008-06-24 19:49:15 [Message] jkw -> Main Room: Trin is very low not like last Friday when Trin/Q over 2.
2008-06-24 19:49:53 [Message] tahiti -> Main Room: Yeah a lot of bottom picking today.
2008-06-24 19:50:18 [Message] jkw -> Main Room: Yes....or short covering?
2008-06-24 19:50:29 [Message] tahiti -> Main Room: Oh, that's right
2008-06-24 19:51:41 [Message] TradeMark -> Main Room: checking something
2008-06-24 19:52:34 [Message] tahiti -> Main Room: Doji's on S&P, Dow and Nasdaq.  Indecision before Fed release.
2008-06-24 19:54:41 [Message] TradeMark -> Main Room: looks like lots of advancing volume on NYSE for somewhat few advancing issues????
2008-06-24 19:54:48 [Message] TradeMark -> Main Room: Not sure what that means
2008-06-24 19:55:41 [Message] TradeMark -> Main Room: looks like cause of the relatively low trin numbers
2008-06-24 19:56:27 [Message] TradeMark -> Main Room: So, good time for a bounce, but not so oversold it could not get more so....
2008-06-24 19:57:06 [Message] jkw -> Main Room: Good synopsis TM
2008-06-24 19:57:30 [Message] tahiti -> Main Room: financials, airlines, health care and home builders are the positive sectors today
2008-06-24 19:57:43 [Message] TradeMark -> Main Room: So ladies and gentlemen......this at all helpful?   I miss Fib
2008-06-24 19:57:44 [Message] tahiti -> Main Room: so short covering like jkw says...
2008-06-24 19:58:02 [Message] tahiti -> Main Room: Yup, thanks TM.
2008-06-24 19:58:33 [Message] TradeMark -> Main Room: My guess we mark time till Fed speaks
2008-06-24 19:58:44 [Message] jkw -> Main Room: Home builders could be up because Schiller index was up a few cities last month probably reflexing spring buying
2008-06-24 19:59:23 [Message] jkw -> Main Room: Same here TM.
2008-06-24 19:59:24 [Message] TradeMark -> Main Room: Then, could go either way, 
2008-06-24 20:00:08 [Message] tahiti -> Main Room: Most of the home builders close below yesterday's high despite the bounce
2008-06-24 20:00:08 [Message] TradeMark -> Main Room: I would give some weight to test of March lows as the likely path, but could get DCB first
2008-06-24 20:00:44 [Message] TradeMark -> Main Room: Stay close to your stops.....
2008-06-24 20:01:08 [Message] TradeMark -> Main Room: So when you guys want to get together again?
2008-06-24 20:01:30 [Message] tahiti -> Main Room: Same with the banks and health care.
2008-06-24 20:01:46 [Message] tahiti -> Main Room: Turns out most airlines closed in the red today.
2008-06-24 20:01:49 [Message] jkw -> Main Room: Home builders did have good volume today and many closed higher than open.
2008-06-24 20:02:16 [Message] tahiti -> Main Room: true
2008-06-24 20:03:11 [Message] TradeMark -> Main Room: Yo, so you all want to get together again?  
2008-06-24 20:03:22 [Message] TradeMark -> Main Room: If so when?
2008-06-24 20:03:27 [Message] tahiti -> Main Room: Sure, tomorrow?
2008-06-24 20:03:55 [Message] TradeMark -> Main Room: Why tomorrow versus Thursday?
2008-06-24 20:04:03 [Message] tahiti -> Main Room: Thursday works as well
2008-06-24 20:04:05 [Message] TradeMark -> Main Room: just asking
2008-06-24 20:04:24 [Message] TradeMark -> Main Room: Anybody else have a opine
2008-06-24 20:04:27 [Message] jkw -> Main Room: Thursday is OK with me.........Financials looked relatively stronger today ..... I sense more nibbling and rotation going on.
2008-06-24 20:05:28 [Message] TradeMark -> Main Room: Ok, Let's get together again on Thursday.  Some flags may be set or the bottom have fallen out by then.....So there's a couple of divergent choices.
2008-06-24 20:05:45 [Message] tahiti -> Main Room: Most of the financials still closed below yesterday's high
2008-06-24 20:06:26 [Message] jkw -> Main Room: OK......still much asset devaluation to go probably
2008-06-24 20:06:29 [Message] TradeMark -> Main Room: I will try to remember to make a post at TW to remind we are getting together
2008-06-24 20:06:56 [Message] jkw -> Main Room: Thanks you for leading TM.
2008-06-24 20:06:57 [Message] tahiti -> Main Room: Great, thanks TM!
2008-06-24 20:07:29 [Message] TradeMark -> Main Room: OK, folks....thanks......see you Thursday and good trading
2008-06-24 20:08:05 [Message] Lew -> Main Room: thx Trade



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