resumption of the bull market?

cnms2 · Nov 10, 2005

Eventually my SPX 1230 stop loss was hit today ...

gharghur2 · Nov 10, 2005

Quote from cnms2:

Eventually my SPX 1230 stop loss was hit today ...

Sorry you were stopped out.

I noticed that triple bottom in the NDX, and the positive divergence with the SPX just before noon. And thought; "Is that as oversold as we're going to get; -3%?"
So, covered my hedges and added to longs. This market waits for no one.

Apex Capital · Nov 10, 2005

Once above 1224.70 today ( the highs of 11/3 ) the market really rolled!
That 10 year auction at 1PM really set the tone.
The 10 day MA at 1215.60 provided some nice support too.

The highs of 10/3 should be next at 1233.34

areyoukidding? · Nov 10, 2005

quote from garghur today in another thread. Another bs er.

I'm net short and still looking for the rally to continue
Depends what day you ask

I guess it depends what the market did at the end of the day.

gharghur2 · Nov 10, 2005

Quote from areyoukidding?:

quote from garghur today in another thread. Another bs er.

I'm net short and still looking for the rally to continue
Depends what day you ask

I guess it depends what the market did at the end of the day.

I don't mean to be rude...but check the time of the post before you make accusations...would you like to see my trades?

gharghur2 · Nov 10, 2005

Quote from Apex Capital:

Once above 1224.70 today ( the highs of 11/3 ) the market really rolled!
That 10 year auction at 1PM really set the tone.
The 10 day MA at 1215.60 provided some nice support too.

The highs of 10/3 should be next at 1233.34

A month ago we couldn't buy a rally, now they can't even sell technical divergences. I was net short when the day started, and had to flip around lunch time. Wow!

Mike, that's where I see the next pivot: 1234 SPX and 2220 NAZ.

gharghur2 · Nov 12, 2005

More fuel for the Tech advance: NDX/NAZ/SOX

BARRON'S COVER Week of November 14
The Great Tech Revival by Eric J. Savitz

Consumers may be stretched, but corporations are flush with cash and ready to spend again on business hardware and software. That's good news for Microsoft, IBM, Cisco, Intel and other providers. What's ahead for 2006.

Just checked the online edition of Barron's. This is the cover story. Might be worth a continuation of the rally early this week.

http://spaces.msn.com/members/caldaroEW/

steveosborne · Nov 13, 2005

Quote from steveosborne 10-31-05 01:27 PM:

I don't see any change in trend but stocks are oversold. The Dow should be back somewhere between 10700 and 10800 soon.

We're now close enough to 10700 so I'm jumping out.

gharghur2 · Nov 13, 2005

Quote from steveosborne:

We're now close enough to 10700 so I'm jumping out.

Yes, good call!

I'm hanging in there to see how the SOX index acts tomorrow. I figure if it turns up we can accelerate upwards again.

But the DOW/SPX/NAZ are all running into resistance:
10,755
1246
2220
If they can make it thru, we'll be heading higher before any appreciable correction occurs.

steveosborne · Nov 13, 2005

Quote from gharghur2:

Yes, good call!

I'm hanging in there to see how the SOX index acts tomorrow. I figure if it turns up we can accelerate upwards again.

But the DOW/SPX/NAZ are all running into resistance:
10,755
1246
2220
If they can make it thru, we'll be heading higher before any appreciable correction occurs.

That summarizes what I see. I think there's a 66% chance that 10755 will be the roof while there is a 33% chance that, in the eventuality this level would be broken, we would move into a bullish trend (as opposed to stocks going up just because they were oversold).