I’m not feeling this market
For the past week or so my watch lists have gotten smaller and I don’t see much action in these. The volume is off and what looks ok ends up breaking lower. I see a lot of posts on OTC stocks and low float stocks which usually appear at the tops. I’m using caution and will be playing with smaller hands.
Something I talked about in Aug just before the turn up. Since then straight up!
DOW looks toppy and with no volume on this rally.
Nasdaq looks like it wants to come back to the 13ema weather or not that holds…..?? I have my doubts.
October 11th, 2007 15:08
I’m still watching my old 10-1 watch list and it sure isn’t pretty.
October 12th, 2007 13:22
And what does the market do?? I’m still using caution and will be playing with smaller hands unless I see something really setup. I don’t see that many attractive charts and volume is pretty light on many. I haven’t looked at many charts last night or today but when I did a few days ago I really wasn’t that excited.
Will see what happens.
October 15th, 2007 11:46
Those charts don’t show anything good, indeed.
October 15th, 2007 18:05
They really powered up the DOW in the final 30 minutes. Pretty much right on that 13ema.
One other note, if you change the time frame on the $NASI to say a 1 month in the link above you’ll see it ended up turning red on Friday and red again today. If that starts to roll over I’ll be moving to high cash!
I didn’t look at charts this weekend, well a few but didn’t get into it. I’ll quickly go through them tonight to see if I see anything doable for this week.
October 16th, 2007 22:19
Well INTC and YHOO reported after the bell and it appears to be very good earnings.
I see the futures are up a lot. Hopefully it wont be a gap open only to fade and go red.
http://money.cnn.com/data/premarket/
October 17th, 2007 13:15
Red they go……..
October 24th, 2007 11:30
Just an update since I haven’t posted in a few days. I’m just watching the markets. I see no need to jump into anything at this point in time.
November 2nd, 2007 15:16
Andrew look at those charts now.
November 28th, 2007 16:32
“all our financial problems are solved with a stroke of a pen”
Days like today piss off the bears. I’m talking separation of reality and what is going on.
Separation of reality and perception that is…..
With that said, I created a new database of nasdaq sub 2’s. The last one was from Aug and there are many that entered TSG land. I can’t promise anything but I do expect to find a few plays. I saw a lot of stuff working today for the first time in a long time. The volume is still light in the subs.
I’ll be playing with small positions and tight stops as these are just hopefully quick in and outs.