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Post by cosmic on Mar 2, 2010 18:13:57 GMT -5
Wow tough choice for tomorrow. We saw a nice advance on the Dow today get sold down to negative and then just barely positive into the close. That action suggests bearishness, but I'm not convinced... to me it means the bulls held the line on selling pressure.
Baby Bull.
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Post by commodityypro on Mar 2, 2010 18:28:46 GMT -5
As of now I stand BEAR.
Trnasposrts down today (you like that pull Torrie?) S&P couldn't push thru 1-24-25 and the bears held the line fairly well. FAS down in AH and I sense we are going to trend down going into Friday jobs data report which everyone has been warned, weather or not, is going to be bad. If the bulk of the losses of jobs are n the retail and manufacturing secotrs then maybe then you can balme the winter weather but I think you'll see weaknesses in other non-weather related industries.
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Post by cosmic on Mar 2, 2010 18:40:28 GMT -5
True.
I'm thinking if jobs are bad though, we'll see a quick rebound. Market only tops when things are getting better.
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Post by commodityypro on Mar 2, 2010 18:46:51 GMT -5
True. I'm thinking if jobs are bad though, we'll see a quick rebound. Market only tops when things are getting better. Sorry but I just re-read that hack spelling job I did on that reply, sorry Maxine! lol True Cos, I know you've mentioned that before, could be a drop into Friday and then a pop in the afternoon heading into the probable green Monday again.
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Post by Clinton SPX on Mar 2, 2010 18:51:31 GMT -5
Tombstone Doji on XLF, Run for your lives. BIG BEAR
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Post by Dualism on Mar 2, 2010 18:53:52 GMT -5
Technically the market is overstretched. However, the bullish undertones can continue for another week or so.
NYSE MC Oscillator hit a reading of +63 -- overextended.
Notably, NASDAQ MC Summation Index crossed the 0-line into positive territory. But at a reading of +49, the Oscillator can easily pullback some.
Also the VIX gapped lower to open the session at 18.83 but ended closing at 19.06; So a bullish candle for the VIX today portends a bearish signal for market direction tomorrow.
I side with 'baby bear'.
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Post by torrentio1 on Mar 2, 2010 19:26:45 GMT -5
As of now I stand BEAR. Trnasposrts down today (you like that pull Torrie?). You know what I look at... ;D ;D ;D YES -transports suggest a pause -a very very bullish pause... Take a look at Airlines - XAL Weekly & XAL Daily -they just broke out and may rest a wee bit...
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Post by jack on Mar 2, 2010 19:39:07 GMT -5
Baby bear...I just learned the schweinhund Germans invented the Teddy Bear and here I thought it was Theodore Roosevelt!
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Post by brosin on Mar 2, 2010 19:43:31 GMT -5
What can I say?
Bull for Wednesday.
Oh and I am going to start tracking the Bull Bear performance going back to the start of the board. Should be interesting.
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Post by Arc on Mar 2, 2010 19:43:30 GMT -5
Baby Bear. Bulls need to trap some bears to get more momo to get past 1140.
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Post by ccash04 on Mar 2, 2010 20:11:41 GMT -5
A bear with a good spot of reference, aggressively shorting xlf with a stop at 14.92.
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oldcicer
Margin Account Trader
Posts: 41
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Post by oldcicer on Mar 2, 2010 20:12:43 GMT -5
As long as you guys keep letting me vote here ,,
I am gonna vote baby bull ...
No technical knowledge at all ....
But Market breadth was positive (I believe)
Bunch of stocks hit new 52 week highs for the session
Dow tried to hit a new high for the year
Some folks sold and took profits ...
They will come back again tomorrow ,,
and do the same thing
Just my thought ..
By the way Torr .. if you read this ,, are you still in Seed ?? what do you make of todays volume and price?? .. was it just BS .. or is there some Technical reason for it
Thanks George
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Post by maxi on Mar 2, 2010 20:39:56 GMT -5
The volume today was very very light. I think Baby Bear. Funny my fingers just typed bull but I caught them and corrected it.
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Post by torrentio1 on Mar 2, 2010 20:57:20 GMT -5
By the way Torr .. if you read this ,, are you still in Seed ?? what do you make of todays volume and price?? .. was it just BS .. or is there some Technical reason for it Thanks George I have a position in SEED now as a spec play. I have not looked at her today yet but will -I try to keep my TA consolidated SO I will post what I see either as an update to a SEED thread or as a new SEED thread tonight...
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oldcicer
Margin Account Trader
Posts: 41
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Post by oldcicer on Mar 2, 2010 21:11:21 GMT -5
Thanks Torr
Price as you can see is up for Seed and Volume was .. well best since it had its January run
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Post by torrentio1 on Mar 2, 2010 21:12:21 GMT -5
Cosmic, I just noticed the "Torrentio Bull" option -a nice feature! I will not use it this evening BUT soon -very soon I feel... --an exalt heading your way as soon as available.
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Post by ask2lern on Mar 2, 2010 21:37:36 GMT -5
Well as I noted in the wrap I have a rather large bearish SPY put position..............the overall tape was lousy as evidenced by the last hour of trading IMO.................I think the market is preparing for bad jobs numbers and the fading will begin.........I am not looking for a doom drop but a mild pullback and little bit of vix would be helpful to my position..............bear.........
Also I would like to comment that if snow storms was a valid reason for a rise in unemployment Minnesota would have the highest unemployment in the country.................... ;D
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Post by ukarlewitz on Mar 2, 2010 23:36:28 GMT -5
Hmm, now many bears tonight. Dang. I go bear anyways, for reasons well articulated by Dual, as well as all those black bars referred to earlier. The one risk is the DX, which looks like it might reverse and weaken short term.
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Post by benvestor on Mar 3, 2010 0:01:22 GMT -5
My gut tells me a dip in the morning to continue the sell off, followed by a nice run up. Should have some good earnings to start things of fundamentally as well as maybe another greece article thrown in the mix lol..
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sowolf
Broker/Dealer
Posts: 439
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Post by sowolf on Mar 3, 2010 0:03:26 GMT -5
Bear for me tomorrow.
Good luck everyone.
sowolf-
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Post by Rich on Mar 3, 2010 0:05:20 GMT -5
Bear. eod weakness today. maybe. I think. perhaps.
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Post by Rich on Mar 3, 2010 0:06:48 GMT -5
Bear for me tomorrow. Good luck everyone. sowolf- Sowolf, are you Ken?
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Post by trading4dough on Mar 3, 2010 1:08:45 GMT -5
Everybody is a skeptic and paranoid
You have to love how they set it up
So up we go to the test of probably 1150 as the Bear Indexes all work towards painting now lows
By monday we paint 1150
That's my way out call 4 now
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Post by trading4dough on Mar 3, 2010 1:11:53 GMT -5
Use the Bulls that convert to Bears as short squeeze material
Because who trusts a Ponzi lol
Hmmm I got caught in those a couple X
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sowolf
Broker/Dealer
Posts: 439
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Post by sowolf on Mar 3, 2010 2:27:30 GMT -5
Lol...Nope... Been on the YMB for over a decade (as sowolf). Got in to FAS and FAZ around Jan last year. It has been a love hate relationship for me. Note- I have voted bull on some of the polls.
Exalt for you for the laugh.
Good luck,
sowolf-
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Post by torrentio1 on Mar 3, 2010 2:28:01 GMT -5
Late night tonight -still looking at stuff -my thumbnail analysis will have to wait...
I will have to agree with T4D -I look at many things either at breakout levels, approaching breakout levels, or backtesting breakout levels -some with many months of consolidation and bullish patterns. what we see now is consolidation. Worst case scenario I would be neutral; HOWEVER, I lean bullish simply because that is the trend...
BULL baby!!!!
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Post by philip2012 on Mar 3, 2010 5:18:56 GMT -5
With the Greece package cleared, Euro markets with feel better, and I'm sure the US market will probably slide upwards towards the 1130 level by Thursday.
All things considered, the Greece 'thing' has really worked itself out rather 'better than expected'.
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Post by timber on Mar 3, 2010 17:54:18 GMT -5
bearish
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Post by cosmic on Mar 3, 2010 17:56:17 GMT -5
;D psst Not Yet But thanks for the reminder to put the Thursday Poll up
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