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The "bounce" in whatever form is overdue in both price and time. My gut says
that the downside risk is now much greater than the upside. I don't know
what the future will bring, however I closed out the last of my long
position trades today so I can rethink the market with neither bias nor
hope.
Earl
----- Original Message -----
From: "BobsKC" <bobskc@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, January 22, 2003 2:19 PM
Subject: Re: [RT] Market
> I had only one short term trade today and that was HD which stopped me out
> for a 1/2 point loss. Just had 1K of it so I'll live and my block in LU
> moved nicely on positive statements from the lady CEO there. I'm not
happy
> being long or short right now due to earnings and other fundamentals but
> still, a dead cat bounce is due too .. soooooo... I'll watch for a bit.
>
> Bob
>
>
> At 02:14 PM 1/22/2003 -0500, you wrote:
> >would not be surprise to see a sell off
> >at end of day, and break previous low
> >Ben
> >----- Original Message -----
> >From: "EarlA" <earl.a@xxxxxxxxxx>
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Sent: Wednesday, January 22, 2003 1:38 PM
> >Subject: Re: [RT] Market
> >
> >
> > > I'm not at all keen on this market action, certainly not bullish. Not
only
> > > did price break through the 985 area but the decline has extended into
> > > Wednesday. Market is trading very heavy.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: "EarlA" <earl.a@xxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Friday, January 17, 2003 10:43 AM
> > > Subject: Re: [RT] Market
> > >
> > >
> > > > Answer in attached chart. Initial confirmation of this move will be
> >taking
> > > > out the 935 high in the SPX. A move much below the 895 area would
call
> > > this
> > > > route into question as would continued decline beyond Tuesday.
> > > >
> > > > Earl
> > > >
> > > > ----- Original Message -----
> > > > From: "Kent Rollins" <kentr@xxxxxxxxxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Friday, January 17, 2003 10:34 AM
> > > > Subject: Re: [RT] Market
> > > >
> > > >
> > > > > >If 954 is taken out, I believe it will be Katy bar the door
> > > > > >for a very fast move.
> > > > >
> > > > > You mean a fast move to 954, or a fast move past 954? If past
954,
> > > where
> > > > do
> > > > > you think it will go?
> > > > >
> > > > > Kent
> > > > >
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "EarlA" <earl.a@xxxxxxxxxx>
> > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > Sent: Friday, January 17, 2003 7:44 AM
> > > > > Subject: Re: [RT] Market
> > > > >
> > > > >
> > > > > I am seeing cup and handle formations in nearly all of the major
> >equity
> > > > > indexes. Then NASDAQ has already completed a higher high and this
move
> > > up
> > > > > has been nicely confirmed by all 3 NASDAQ breadth models: issues,
> > > > high/low,
> > > > > and volume. The OEX actually managed to break out above the weekly
> >bear
> > > > > market trendline before pulling back. The NYSE has been the weak
link
> >in
> > > > the
> > > > > rally with non-confirming On Balance Volume and modest divergences
in
> > > the
> > > > > breadth models. Recently, the market has been handling bad news
quite
> > > > well.
> > > > > Finally, all indexes were overbought on momentum indicators.
External
> > > > > indicators have been a bit positive: SP COT commercials
substantially
> > > > > lightened short positions last week (this week's should prove
> > > > illuminating),
> > > > > put/call remains constructive, and VIX has been moving back up.
> > > > >
> > > > > Had the markets attempted to breakout from recent levels, I would
have
> > > > been
> > > > > aggressively shorting the breakout. I view this decline as
> >constructive
> > > as
> > > > > long as it does not get out of hand. My current view is that the
> >market
> > > > will
> > > > > move down into the Friday/Tuesday date confluence (closed Monday),
> >then
> > > > > rally strongly into mid-February. This is an inversion to what I
had
> > > > > expected, however one must follow the market's lead. I will be
looking
> > > for
> > > > > good support and long entries in the SPX 900 range. If all falls
into
> > > > place,
> > > > > it may be an unexpected piece of good news which tilts the market
into
> >a
> > > > > strong rally. If 954 is taken out, I believe it will be Katy bar
the
> > > door
> > > > > for a very fast move.
> > > > >
> > > > > Earl
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "ira" <mr.ira@xxxxxxxxxxxxx>
> > > > > To: "REAL TRADERS" <realtraders@xxxxxxxxxxxxxxx>
> > > > > Sent: Thursday, January 16, 2003 9:09 PM
> > > > > Subject: [RT] Market
> > > > >
> > > > >
> > > > > Looking at many of the charts, I don't know if I would want to be
> >short
> > > > > going into tomorrow.
> > > > >
> > > > >
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