Thanks Red for the kind update.
Personally I’m feeling “bullish” this week and sitting on some shorts I’m looking to offload within the next two trading days, but given the number of opinions I read and review, almost 80% of the people (granted this is very ballpark figure %) I follow are bullish. I don’t know if it’s based on the fact that markets are “oversold” or “7 straight losing days” or “santa rally” or “cycle end date” but the high number is a bit disconcerting. It is forcing me to reevaluate whether or not to feel bullish.
Maybe we do rally and the 90% will be paid but what is really getting to me is we have not seen any high volume panic selling yet for this most recent down move.
Also I’m not sure if the VIX is just calmly minding it’s own business but seems 100 point down weeks are no longer “frightening”
CHICAGO, Nov. 26, 2011 /PRNewswire/ — Retailers can breathe a sigh of relief. The holiday shopping season started strong, with bigger crowds spending more dollars than ever before.
According to ShopperTrak — the world’s largest provider of retail and mall foot-traffic counting services — Black Friday
sales increased 6.6 percent over the same day last year. This
represents $11.40 billion in retail purchases and the biggest dollar
amount ever spent during the day. Retail foot-traffic rose accordingly,
increasing by 5.1 percent over Black Friday 2010.
Read more: http://www.sacbee.com/2011/11/26/4081335/black-friday-2011-sets-new-retail.html#ixzz1eredddRo
Russell 2000 closed at 666.16 on Friday. Is this a short term turn date? Unlike 666 on SPX ( That was a long term turn date)?
Thanks Red for the kind update.
Personally I’m feeling “bullish” this week and sitting on some shorts I’m looking to offload within the next two trading days, but given the number of opinions I read and review, almost 80% of the people (granted this is very ballpark figure %) I follow are bullish. I don’t know if it’s based on the fact that markets are “oversold” or “7 straight losing days” or “santa rally” or “cycle end date” but the high number is a bit disconcerting. It is forcing me to reevaluate whether or not to feel bullish.
Maybe we do rally and the 90% will be paid but what is really getting to me is we have not seen any high volume panic selling yet for this most recent down move.
Also I’m not sure if the VIX is just calmly minding it’s own business but seems 100 point down weeks are no longer “frightening”
ES Trend update: http://niftychartsandpatterns.blogspot.com/2011/11/es-trend-update_28.html
Great… now youtube is screwing with me! Arrgggh… I’ll have to break it up into 2 shorter video’s now I guess. WTF?
Video has been removed because its too long????
Video has been removed because its to long…from youtube????
New post everyone (note: the video is still processing at youtube right now)
http://reddragonleo.com/2011/11/27/the-worst-thanksgiving-week-in-the-stock-market-since-1932/
Apple update: http://niftychartsandpatterns.blogspot.com/2011/11/apple-weekend-update.html
CHICAGO, Nov. 26, 2011 /PRNewswire/ — Retailers can breathe a sigh of relief. The holiday shopping season started strong, with bigger crowds spending more dollars than ever before.
According to ShopperTrak — the world’s largest provider of retail and mall foot-traffic counting services — Black Friday
sales increased 6.6 percent over the same day last year. This
represents $11.40 billion in retail purchases and the biggest dollar
amount ever spent during the day. Retail foot-traffic rose accordingly,
increasing by 5.1 percent over Black Friday 2010.
Read more: http://www.sacbee.com/2011/11/26/4081335/black-friday-2011-sets-new-retail.html#ixzz1eredddRo
SPX Weekend update: http://niftychartsandpatterns.blogspot.com/2011/11/s-500-weekend-update.html