Not one to toot my own horn, I am temporarily suspending my humble nature to bring back to your attention these 3 killer blog entries:
WTF is Wrong With Leveraged ETFs?
Peril Showing in the Technicals
Is Oil Going To Donkey Punch You?
Joined Nov 11, 2007
1,458 Blog Posts
wood,
great work.
Great Work Woody!
Love that oil chart.
Thanks Chivas and Cajun. Cajun, I wish I could go back to the days of trading during the day and playing momo with you…oh well.
Chivas, what is your take on things after Friday’s move?
10X page view than the FLY…wow!
Assuming if there is a low deficit report on tuesday, and the nasdaq stocks still cramped by dow jones through monday what scenerio and which tech stocks might one expect to rally on tuesday? As smart money flows into tech stocks, and a few hinters i received that tech co (specifically tech services co., software and server servicing co.) are gaining momentum in the economy. I am not considering companies amateur investors love such as AAPL, GOOG, MSFT, etc. However, AAPL may play a major role next week.
IG, Cajun would be better equipped to answer your question.
I am already positioned for Monday and will look to exit those positions. I am hoping for more weakness, which will set up some excellent oversold plays. Believe it or not, even after Friday’s plunge, things are not oversold.
I will run my scans this weekend and will get a post up that will hopefully give you some ideas.
Wood,
although friday was a bit unnerving, i still feel the same way. i believe friday was just the result of the crude action and not the employment numbers. i am one of those idiots that believes that crude has a 25-35% correction in it’s near future for a whole bunch of different reasons. i also believe that the bernanke speech with his strong talk about the dollar is significant. in the short term, the arms index was very high friday, with downside volume exceeding upside volume i think 12-13 to one. that usually creates at least a short term bottom either right away or within one or two days. the vix was up 20+% and exceeded 2 standard deviations above it’s 20 day. when it comes back it actually creates a buy signal. iam still bullish, but we shall see. good luck to you.
Without having looked at all my charts, I am willing to agree that we will see a short term bottom in 1-2 days. I also agree about the VIX.
I am thinking very short term on the bottom though…maybe 4-10 days, at best.
Good luck to you as well.