stained jeans Posted March 11, 2004 Report Share Posted March 11, 2004 How did stocks react to a two days of a Trin of 3 during the bear (2000-2002)? Stained, FWIW, I have a post it note above my desk with the following trading rule that I picked up from a friend a while back: Closing trin >3 - buy next day >4 - buy immediately 2 consecutive days > 2.5, buy next day. However, in real life such extreme readings don't come by very often, and bears would do well to be careful after today's sell-off. I personally don't trade on this basis, but I do like to look at it. My own trin data goes back to May 10, 2000 and I only saved EOD readings. But a quick glance at the data shows four consecutive >2 readings, all of which led to big bounces (>2%), the next day on 3 occasions and 2 days later on one. The dates were: 29/30 October 01 (2.05, 2.17) 20/21 Jun 02 (2.3, 2.09) 1/2 July 02 (2.09, 2.63) 9/10 July 02 (2.79, 2.12) It's probably worth putting a little more analysis into the data, however. It could be that other factors came into play to cause the bounces, not just the trin. Much appreciated, Madame. If we go down hard in the AM tomorrow, I plan to take a few chips off the table. Could get a short-term selling climax. Your >2% bounce on the Spoos (>3% on Nasty) fits in well with my expectation that this trendline gets tested from below fairly soon. Brian, you're much better on the short-term. Waddya think? Link to comment Share on other sites More sharing options...
The End Posted March 11, 2004 Report Share Posted March 11, 2004 That is one bearish chart. Wave one down completes wave two back up to the trend line and wave three to 1200? Link to comment Share on other sites More sharing options...
stained jeans Posted March 11, 2004 Report Share Posted March 11, 2004 I agree but, you must realise, I have basicaly no emotion about trading. The key trait of a great trader. Everything else, yes, the markets, no. I will go short big time should we break 1113. Is that intraday or closing basis, End? Link to comment Share on other sites More sharing options...
The End Posted March 11, 2004 Report Share Posted March 11, 2004 Closing hourly candle. (on the half hour) meaning 10:30 and so on. Link to comment Share on other sites More sharing options...
stained jeans Posted March 11, 2004 Report Share Posted March 11, 2004 That is one bearish chart. Wave one down completes wave two back up to the trend line and wave three to 1200? Not sure. It's usually Wave 3 that breaks important resistance. Maybe Wave 1 of 3 right now. 2 of 3 retraces to the trendline. Then on down to 1200... Link to comment Share on other sites More sharing options...
stained jeans Posted March 11, 2004 Report Share Posted March 11, 2004 Closing hourly candle. (on the half hour) meaning 10:30 and so on. Tanks Link to comment Share on other sites More sharing options...
The End Posted March 11, 2004 Report Share Posted March 11, 2004 If it's a bearish wave it's 3 of 1. Link to comment Share on other sites More sharing options...
The End Posted March 11, 2004 Report Share Posted March 11, 2004 It is possible to count the decline as a completed five waves down. (for wave one). Link to comment Share on other sites More sharing options...
The End Posted March 11, 2004 Report Share Posted March 11, 2004 Down Jones, You can testify that I have not recieved Tomlinson nor Curry yet. My thoughts are my own. for Da record. By the way, how ya doin? Link to comment Share on other sites More sharing options...
brian4 Posted March 11, 2004 Report Share Posted March 11, 2004 Guys and Gals-I expect tomorrow at best a modest rally at worst a continuation down, things HAVE CHANGED-I don't question change. The rally was relentless and took no prisoners, T/A was useless alls I know is i got 30 points locked-that they aren't getting and I am going for more. I sense normalcey returning and i know the fundamentals that have propped up this pos are dissolving. The economy is a crispy critter the Idiot Prince can stand on his head and spit nickels but JOBS are not there, exports are not there and the deficit is THERE.! Link to comment Share on other sites More sharing options...
brian4 Posted March 11, 2004 Report Share Posted March 11, 2004 The ruble is up against the buck for the 2nd day in a row-that says a lot! Link to comment Share on other sites More sharing options...
Guest Posted March 11, 2004 Report Share Posted March 11, 2004 Another Stoolie theme song! Or a bull http://www.bobrivers.com/asx/TT_648_4.asx Link to comment Share on other sites More sharing options...
depends Posted March 11, 2004 Report Share Posted March 11, 2004 The economy is a crispy critter the Idiot Prince can stand on his head and spit nickels Heard Bush will talk again tomorrow, so I would expect any rally may coincide - just a guess. Hope he talks up the economy. Link to comment Share on other sites More sharing options...
The End Posted March 11, 2004 Report Share Posted March 11, 2004 Another Stoolie theme song! Or a bull http://www.bobrivers.com/asx/TT_648_4.asx Link to comment Share on other sites More sharing options...
Guest Posted March 11, 2004 Report Share Posted March 11, 2004 Another Bully song http://www.bobrivers.com/asx/TT_695_4.asx Link to comment Share on other sites More sharing options...
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