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Will it be a contrarian signal right now? The
cliche is sentiment preceeds price and for two days now the dollars going into
put volume is at price bottoming levels, at least for a 3 to 5 day
upswing. Even on Monday the NDX and NASDAQ
UVOL/(UVOL+DVOL) was higher than on Friday, but
with a lower low on the NDX giving a one day divergence at the tip toe line of
972.34. The NDXcone chart shows a pitchfork line at 970 on Tuesday
and a green probability level at the same price. So for Tuesday the tiptoe
line will probably be breached a bit and then if the uvol dvol percent is not
agreeing, then the NDX may have survived another minefield for a short while and
respond with a move back above the line. If it plunges through, then the
line will become resistance and DOM can buy his puts on the rebound. Its
just that a lot of qualifiers for an upswing for Tuesday have been met.
bobr
----- Original Message -----
<BLOCKQUOTE
>
<DIV
>From:
<A title=thegirlisherenow@xxxxxxxxx
href="">theGIRLisherenow
<thegirlisherenow@xxxxxxxxx>
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Monday, January 27, 2003 8:03
PM
Subject: Re: [RT] NDX_60m
hey bobr!...yes, but WILL it be a contrarian signal right
now, or the rumble before panic selling sets in? I could be very wrong in
my projection of an impending decline...however, major cycles are
turned/turning down, with only the 15-day seen as bullish and that may
still give us a little bounce before february...just don't know if it will
be anything that will make merlin fall off his chair.<g> I
honestly think we have another trip to oct lows/or even lower before we
see an explosive rally...perhaps one that will make a lot of folks think
the bear mkt is over. I think it's coming for sure, but not for a few
months. one extremely significant breach (in my book) came today...we
broke below the quarterly waist on murrey math. anyway, we'll all
find out soon enough, yes? (btw, thanks for the charts earlier
today!)your friend.....V--- In
realtraders@xxxxxxxxxxxxxxx, "BobR" <bobrabcd@xxxx> wrote:>
Speaking of October, my sentiment stuff has already reached that seen at
the October lows. Its a screaming buy here from that
standpoint.> > bobr> >
-----Original Message-----> From: Dom Perrino
[mailto:acutimer@xxxx]> Sent: Monday, January
27, 2003 8:30 PM> To:
realtraders@xxxxxxxxxxxxxxx> Subject: Re: [RT]
NDX_60m> > > Forgot to mention
that the outcome, even if we have short term rally, will be to the
downside Below the lows of last Oct. >
DomTo
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