Market structure suggests the overnight lows will be tested.
Breadth and general momentum are what I am watching here.
tiny
Monday, October 3, 2011
And thar she blows
Support held nicely, and we got a big pop off the numbers
No regrests, it's gambling holding in front of a number, no matter what some loser super guru tells you
Gap has been faded
tiny
No regrests, it's gambling holding in front of a number, no matter what some loser super guru tells you
Gap has been faded
tiny
Economic numbers due out at 10
We are at support, and we are churning ahead of the number
Will stand aside, and let it play itself out
tiny
Will stand aside, and let it play itself out
tiny
Gap down
Nice move off the overnight lows, but still enough of a gap to stalk for a fade
I like to wait for the first 5 mnutes to be in, at a minimum.
tiny
I like to wait for the first 5 mnutes to be in, at a minimum.
tiny
Sunday, October 2, 2011
Back to crash watch
From what I've been reading over the weekend, the majority of doom and gloomers are back on the watch for a crash here.
My opinion is just one of many others, but I think this bear market is more of the oozing kind, and one that lasts a while. Volatility spikes are part of a bear market, but the more people sit and wait for the crash, the else of a chance I think it happens.
And I think I said that before, so sorry for the repeat.
People want a crash so they can pick up the wreckage that margin calls and utter destruction in the market leave behind. But what really happens, is only a few with deep pockets, a big gambling bug, or big risk takers will step in. The rest of us (yes I include myself) will stand there and say there's more to come, this action was very bad and suggests more downside, etc., etc., etc. I don't mind being in that group, because when the dust does settle, and the market does start to pattern up again, the risk becomes tolerable.
tiny
My opinion is just one of many others, but I think this bear market is more of the oozing kind, and one that lasts a while. Volatility spikes are part of a bear market, but the more people sit and wait for the crash, the else of a chance I think it happens.
And I think I said that before, so sorry for the repeat.
People want a crash so they can pick up the wreckage that margin calls and utter destruction in the market leave behind. But what really happens, is only a few with deep pockets, a big gambling bug, or big risk takers will step in. The rest of us (yes I include myself) will stand there and say there's more to come, this action was very bad and suggests more downside, etc., etc., etc. I don't mind being in that group, because when the dust does settle, and the market does start to pattern up again, the risk becomes tolerable.
tiny
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