Not necessary. It is the time frame you are referring to. The Jan top may very well be the P3 top as I do not expect the retest to break any meaningful new ground.
A strong rally like we had, does not die over night. The topping process may last longer than the time you have on your positions. Thus, it may be necessary to buy yourself extra time, for your thesis to work. You may be totally correct in your analysis, but it may take longer for the market to unfold. 🙂
What do you see? I see a big bear flag from last Thursdays' sell off. I see a downward trendline that is still holding back the advance. I still an upward channel trendline that holding back the selling. I see low volume. I see Full STO that are rolling over and heading down. I see the dark blue 20ma pointing down into 109. I see a triple top. I see the 61.8% fib almost being reached at 108.25. What do you guys see?
Over half of the stocks in the NDX, DJ, and OEX have turned the corner in momemtum. The very short term tide is turning. The OTM Feb puts are out of time. I am long the techs and foreign stocks. Data shows that they are leading this mini rally. Based on data available for the last 25 yrs, the current setup has a better than 90% of seeing the market retests the Jan high.
The odds are against the OTM Feb Puts now. But people do win lottery, so who am I to stand in their way to untold riches? 😀
Thanks for you input…
you're reading the charts right, just a little anxious for the big move
as SC said big moves don't die overnight
it took the 06-07' top 12 months and 8 months for the 08-09' bottom, we're currently 5 months into this top
Not necessary. It is the time frame you are referring to. The Jan top may very well be the P3 top as I do not expect the retest to break any meaningful new ground.
A strong rally like we had, does not die over night. The topping process may last longer than the time you have on your positions. Thus, it may be necessary to buy yourself extra time, for your thesis to work. You may be totally correct in your analysis, but it may take longer for the market to unfold. 🙂
What do you see? I see a big bear flag from last Thursdays' sell off. I see a downward trendline that is still holding back the advance. I still an upward channel trendline that holding back the selling. I see low volume. I see Full STO that are rolling over and heading down. I see the dark blue 20ma pointing down into 109. I see a triple top. I see the 61.8% fib almost being reached at 108.25. What do you guys see?
http://stockcharts.com/def/servlet/Favorites.CS…
this is so funny watching this circus
we've got a double back test now
http://www.flickr.com/photos/47091634@N04/43511…
up or sideways next week
all this back and forth is all manipulation for OPX next week
they've crushed a lot calls this week with time decay
If that is true, then I must be reading the charts wrong.
Over half of the stocks in the NDX, DJ, and OEX have turned the corner in momemtum. The very short term tide is turning. The OTM Feb puts are out of time. I am long the techs and foreign stocks. Data shows that they are leading this mini rally. Based on data available for the last 25 yrs, the current setup has a better than 90% of seeing the market retests the Jan high.
The odds are against the OTM Feb Puts now. But people do win lottery, so who am I to stand in their way to untold riches? 😀
Do you still see us going up next week?
the big volume spike on the 3 min @ 12:15 chart is because of the backtest of the uptrend line from last friday