Most of this rally was due

krazykarl · Oct 16, 2006

Quote from S2007S:

NDX 100 up over 225 points in less than 2 months. Could you say a little bit overBOUGHT.

no - it's been slow and steady. this has been what we like to call an inflection

EqtTrdr · Oct 16, 2006

Dow only up 1000pts in 3 months

DeepFried · Oct 16, 2006

Quote from Restricted:

Uh oh, there was just a drive by shooting at my local zoo. 3 grizzlies dead, believed to have been gang related but we know better.

DeepFried · Oct 16, 2006

Quote from S2007S:

NDX 100 up over 225 points in less than 2 months. Could you say a little bit overBOUGHT.

Oscillators don't work so well in strongly trending markets. Things like RSI are not a very good guide under present circumstances. No frickin' way am I shorting the equity markets until we actually get price action that's heading lower.

DeepFried · Oct 16, 2006

Re interest rates/the Fed - We're going to get NEGATIVE PPI and CPI numbers this week. Even if they're not as negative as expected, the psychological effect of negative PPI/CPI in this bull market is likely to strengthen bids.

S2007S · Oct 16, 2006

Quote from DeepFried:

Oscillators don't work so well in strongly trending markets. Things like RSI are not a very good guide under present circumstances. No frickin' way am I shorting the equity markets until we actually get price action that's heading lower.

How come the RSI seems to work when the markets are dropping like a rock and are completely OVERSOLD.

No one will be able to time this market, once the drop starts, you will be late into the game.

DeepFried · Oct 16, 2006

Quote from S2007S:

How come the RSI seems to work when the markets are dropping like a rock and are completely OVERSOLD.

No one will be able to time this market, once the drop starts, you will be late into the game.

I don't think it's true that RSI works better in strong downtrends than it does in strong uptrends.

Sharp market breaks where the market goes down 5% - 10% or more are what, 3 - 4 sigma events? Why bet, in the middle of a bull trend, on something that unlikely? If the market starts to head lower I'll pick up some shorts but I want to see price action lower, not overbought indicators.

I'd rather be late into the game than short while the market goes straight up.

S2007S · Oct 16, 2006

Quote from DeepFried:

I don't think it's true that RSI works better in strong downtrends than it does in strong uptrends.

Sharp market breaks where the market goes down 5% - 10% or more are what, 3 - 4 sigma events? Why bet, in the middle of a bull trend, on something that unlikely? If the market starts to head lower I'll pick up some shorts but I want to see price action lower, not overbought indicators.

I'd rather be late into the game than short while the market goes straight up.

"Why bet, in the middle of a bull trend"

IT wasnt a bulltrend until we broke out to new highs.

Restricted · Oct 16, 2006

Every day so easy. Buy 200 es when down 25 cents. Sell on close. Stop at Ferrari dealership on way home.

myminitrading · Oct 16, 2006

Quote from DeepFried:

Re interest rates/the Fed - We're going to get NEGATIVE PPI and CPI numbers this week. Even if they're not as negative as expected, the psychological effect of negative PPI/CPI in this bull market is likely to strengthen bids.

For sure the inflation numbers will be so market friendly everyone will start kissing each other, this is such a rosy economy, again just i time for the elections. To bad the polls dont favor the crooked Republicans. All this for nothing, I hope the Dem sweep both houses. Then the market will crash and I can find some decent buys.