this may sound simple, but my best market direction indicator for last few months for me has been PCP. It is a very strong company and stock. when it starts hitting lows, I get short. when it is hitting highs, I know I am screwed if short. today, so far, it is hitting lows (of course, it could bounce hard and prove me wrong...will watch closely)
Oh,I am sure it will. I am short and going against the long term trend and the TRIN. How well does TRIN work for you? do you get very many false readings??
BAS, trin may be bullish today, but not confirmed by the TICK. TICK is negative today 300 or so. I believe TICK needs to be positive and TRIN negative for it to work as bullish indicator.
Watch the U.S. dollar currency closely. If it closes below 75 today, the dollar have more room to go down. In this case, the market will be shooting higher.
SPY broke the neckline at 111.00. It is very important that SPY and QQQQ to make lower low from yesterday.
ReplyDeleteSPXU above 38 is a buy. needs to hold by close though
ReplyDeleteI am long a SPXU, SKF, TZA and SRS. I hope this post does not jinx my position
ReplyDeleteChit, is that the bottom for today. Nobama just said he may consider tax cuts. market rallying back.
ReplyDeleteTRIN has been very bullish almost all morning.
ReplyDeleteObama also warned on foxnews about double dip recession. he did pretty well in march calling market bottom. is he calling a top?
qqqq made a lower low, but SPY did not. damn, here comes the rally thru the rest of the day. same chit, different day. amazing
ReplyDeleteSPY is bouncing off from 110.50 area and QQQQ is boucing off from 44 area.
ReplyDeleteAnyone going long here???
ReplyDeletejdt, entering my short at or near or above spy 111.43..
ReplyDeletetrin is still scary at .47
egonec
I thought trin below one was bullish? You think market will go up a bit so waiting for 111.43?
ReplyDeletethis may sound simple, but my best market direction indicator for last few months for me has been PCP. It is a very strong company and stock. when it starts hitting lows, I get short. when it is hitting highs, I know I am screwed if short. today, so far, it is hitting lows (of course, it could bounce hard and prove me wrong...will watch closely)
ReplyDeletejdt, yes..looks like i'll be waiting a long time today.. it probably won't get there at this point :(
ReplyDeletejicun
Oh,I am sure it will. I am short and going against the long term trend and the TRIN. How well does TRIN work for you? do you get very many false readings??
ReplyDeleteyup, false readings that i can't make heads or tails of it sometimes.
ReplyDeletewhen the aig/c/zombie bank rally happened - it was way off.
today is odd that it is so high but there is no market excitement and we slipped when it was .47..
derown
BAS, trin may be bullish today, but not confirmed by the TICK. TICK is negative today 300 or so. I believe TICK needs to be positive and TRIN negative for it to work as bullish indicator.
ReplyDeleteQQQQ had a gap from this morning.
ReplyDeleteI just covered AEM at 60.61.
ReplyDeleteTwice that SPY bounced off from 110.50 and QQQQ from low 40.00.
ReplyDeleteTypo it should be low 44.00 for QQQQ.
ReplyDeleteWatch the U.S. dollar currency closely. If it closes below 75 today, the dollar have more room to go down. In this case, the market will be shooting higher.
ReplyDeletewow, nat gas still getting hammered. I like to use natty gas as an economic indicator for United States. very scary.
ReplyDeleteholy CRAP.. look at EXM go go go!
ReplyDelete@#$&
countio
Check out CL.
ReplyDeletePaid 5 cents for 500 of the 85 calls on a gamble.
The market could close where it's opened today. If it does, it is either spinning top or hang man or doji.
ReplyDelete