It successfully cleared all OVERSOLD signals today.
Prior to December:
Joined Nov 10, 2007
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that is one indecisive chart…
Earlier in the day you said “overbought” now you’re saying “oversold”. Which is it?
To clarify: Today’s push higher cleared all of the OVERSOLD signals (sub 2.6) that were registered and is now in OVERBOUGHT range. Hence, the OS cycle was completed profitable.
Seeing the same thing…said it ahead of time so not piggy backing…but the oversold has been relieved and its anyones guess from here.
To complicate matters, some may have been confused with the recent references to QID (an inverse ETF) being “overbought”… essentially meaning that the underlying index is in fact “oversold”. Takes a second to process. Really confusing if you aren’t familiar with the ETF. Just a thought.
Porn Chart…nice. 86% Large Cap– buys
Pretty freeking impressive. Respect the PPT…
Is it possible that $ZAGG could design new covers for cigarette packs to hide the new graphic warnings?
I sold some DXD on this indicator for a quick bet.
Oh Shit… I meant I bought the ETF, which is a short.
So you are saying based on the PPT everything will be down tomorrow?
The chart indicates couple of down days on tap. Prolly after Ben makes his appearance…
Based on the past, I should be lightening up here. I intend to do so.
the next few weeks will be interesting to say the least
Fly,
I agree the market has taken a large bite today and may be over bought in the short term, but our indicator (OBOSS) stills shows SPY has not quite returned to neutral levels on the daily. I expect a pull back from this level to be met with support and then a push higher until OBOSS is neutral.
http://blog.geoinvesting.com/?p=2165
or
http://www.geoinvesting.com/forums/SingleMessageView.aspx?mid=10730&twt=0&fb=0&lnkdin=0
I saw a beat up Viper today – one headlight was held in by chewed up Juicy Fruit, and the “Daddy’s Boy” Wyoming plates were askew – but the vehicle was definitely still running; a real lived-in look, if you know what I mean… The driver was too busy singing to talk, so I recorded him as follows:
http://www.youtube.com/watch?v=7qNP9Zner70
Looking back years from now this will just be another bear market rally.
Nothing new to see here. Fed tomorrow.
a plain price/volume chart is worth a thousand indicators.
Tornadic Activity in the Mitten today!
And in the Precious Metal Miners… but in one blast off day, they are already hitting resistance, so let’s not be too hasty, folks.
_______________
why not play TLT for a bouce here?
WNR raised to a buy @ Deutsche Bank this morning – price target $24……AAAYYYYY-OOHHHH!!
WNR shorts getting raped this morning!
WNR = Yorktown
WiNneR!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!