Sam Adams Posted February 18, 2003 Report Posted February 18, 2003 PD, Once again thanx for the great recos in POS Index. Can you share your plans for this week with the rest of us?
PileDriver Posted February 18, 2003 Report Posted February 18, 2003 we seem to be in no-man's land here - somewhere btwn a major top in Dec/Jan and a future major bottom still ahead of us No clear signals other than a short term o/s pop which should only last another day or two at best. I'm holding until stopped out. "This ain't no bottom"
Sam Adams Posted February 18, 2003 Author Report Posted February 18, 2003 PD, Thanx for the update. I got the impression from one of your earlier comments you might cover "some" of your shorts and go long on a few stocks just to make things interesting.
depends Posted February 19, 2003 Report Posted February 19, 2003 Pile - here is tonights mr market meter. The first buy signal came in when the red 2 day crossed the green 5 day moving average. Confirmation will be when the green 5 day crosses the blue 9 day up. So caution is the watchword here. Tommorrow had better be the reversal.
PileDriver Posted February 19, 2003 Report Posted February 19, 2003 beware the whipsaw. This is a shake-out fake-out for sure :wink2: ANDW down 10% today The truth will prevail and all crappy stocks will go down over time. Imagine being long this portfolio, imagine it being profitable. Ha! I just laughed so hard right now I wet my pants.
depends Posted February 19, 2003 Report Posted February 19, 2003 On 9/27/2002 this same crossover failed.
Drano Posted February 19, 2003 Report Posted February 19, 2003 I just laughed so hard right now I wet my pants. Perhaps you need some...er....Depends. Or at least the chart he just posted.
PileDriver Posted February 20, 2003 Report Posted February 20, 2003 just got back from skiing. Nice to be away from this humpy market. I may do it more often and let the turds sink on their own. ANDW getting spanked again today proves the theory of selling begets more selling and once a piece of crap always a piece of crap. :grin: Short crap hitting new 52 week lows in a weak market and you're practically guaranteed to come out ahead and not lose as long as you are patient. I mean its just the opposite of a sound bull market strategy - duh! Why make it harder to trade the markets than need be?!
depends Posted February 20, 2003 Report Posted February 20, 2003 Well, tonight's chart is not any better. Red crossed green yesterday - early buy signal. Green should cross blue to confirm. It's close.
Mr. Beal Posted February 20, 2003 Report Posted February 20, 2003 Test post of todays market profile on the cash S&P. I'm trying to get these charts into a format where they might be useful to other stooles. The problem is I use them in lots of colors and across one or more 21" monitors. The "value areas" - fat distribution areas are very useful to lean against for short term trading. The relationship between profiles provide useful information about relative buying and selling between "value areas". I believe these offer a lot of information over candles or bars, but I think we'd all agree - I don't know dung.
Goldmember Posted February 20, 2003 Report Posted February 20, 2003 I think I get what Depends neat chart is all about. So simple, yet so sublime! Mr. Beal, I'm speechless at the technologies on today's software programs, and the nimble and adept use of the goodies they offer. It has become apparent that some very world-class players have migrated here to Stoolville, and of course that is a good thing! I am learning, baby, I'm learning! Soon, I may even be potty trained!
Mr. Beal Posted February 20, 2003 Report Posted February 20, 2003 GM. Dude I really don't know shit. I get by mostly on guts. Today I bought my first gold contracts. I've got a lot to soak-up around here. However I'm in triple digits on shows and the other day I meant to say that Mars Hotel was no slouch of a studio album. Although Speedway Boogie on Workingmans is a serious favorite.
depends Posted February 21, 2003 Report Posted February 21, 2003 Pile - here is Turdsday's mr market. red=2 day ema, Green=5 day, blue=9 day Yesterday 2 crossed 5 up - first buy signal Today 5 crossed 9 up - confirmation. I don't buy it yet though. The market is too sick. This signal did fail on June 27 2002 when it did the same thing and the S&P fell more than 200 points. I have some good working shorts and a few that are up at resistance and failing to make new highs. I'm staying short but will set tight stops (with alarms) on most of my port tomorrow - tighter than usual. Depending on Docs call I will decide to cover if alarms go off. I closed NPSP on the gap down today thank you very much. I hear your riding it to zero. If this fails I'll quit posting the chart. If it is correct - well lets hope it's not.
PileDriver Posted February 21, 2003 Report Posted February 21, 2003 I'm playing it the same way. I suspect it will fail again this time too. Market appears only part way from major top set in Dec/Jan to the next panic major low. The MTI is not low enough where major buys are usually conceived. The BSR and RT aren't low enough either. Most broader-based "bullish percent indexes" aren't low enough as well. McClellan Summation still going down. I'm giving the benefit of doubt to the current primary trend which is still down. I'm holding onto NPSP and CERS. So far so good.
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