3SOF

Nice find!

The 3 yr weekly chart is classic break out - and with the market being as spooked, a 38.2 fib retrace back to $19.10 area is possible




More likely, though on the 18 mo. would be a pullback to $20.13 area



Just need to be patient...

David,

You should take a look at SIGA - I know you hate Biotech but this chart is a beauty and just broke out of trading range this AM

There go the "Sell" Switches - QID on Fire

Quote from: nullzero on March 08, 2007, 11:19:18 AM
The VIX turned bullish on my intraday chart I believe we are going to sink much lower heading into the close today.

You are correct



I'll be adding to my QID

David,

I believe you mentioned something about a longer term Chart of the NAZ - see attached.

This is not mine, but a fellow trader who is calling for a much larger bear market.

Thoughts?

Quote from: nullzero on March 08, 2007, 09:56:12 AM
I would take todays upside with a grain of salt  . We will be much lower by the end of the day. Whats the reason we gapped up so much today? The foriegn markets? The foriegn markets usually follow the U.S. market not the other way around. If I had to take a guess I say we close the gap up today and even may see red. Excellent time to enter the short side. As for the long case today and last few days is just smoke and mirrors in my opinion low volume and nothing really showing strength. Wait for some important economic data to come out to show what direction the economy is heading.

Absolutely Correct - Applaud

We call it GAP & CRAP - and the QQQQ's are already tanking downward.
Institiutional can't wait to sell into any strength right now.

David,

Hope you don't waiver in your bear market call. I believe you are spot on. Last year you were early with your call - then came the May Dive. This market will whipsaw until it's drained everything $$$ of retail.

One of the traders I follow is making his initial buys of MZZ (Mid Cap Ultrashort)  today. He's been calling this market top since early January.

Best,

KC Scott

Quote from: ravenquork on March 07, 2007, 04:28:51 PMAre You sugesting that atleast some money bought heavily into the pull back?

Quite a bit of Retail money bought into that weak bounce we had last Wednesday. While Institutions were unloading their risk (High P/E, Large Profit, Etc.) the major brokerage houses were advising their clients to "Buy the Dip".

This has been the same mantra this market has used since it became oversold (at least on the charts) back in Nov / Dec. Even now among many traders there is a huge debate on if this is a normal IT pullback (see chart)  or the start of a true Bear market.



I'm in the camp of the Bear's unless the tape tells me otherwise.

But I will be watching these support levels on the SPX

Quote from: TraderStar on March 07, 2007, 01:17:24 PM
The market's big one day drop was also due to a computer glitch,

Tradestar -

That's a BS story cooked up by the institutionals, and the media to try and "calm" the masses and prevent a full scale run on the markets.

All the while, the institutions are dumping back into retail.

I heard Cramer try and explain it as though someone added an "extra zero" and instead of selling a million shares, they sold a billion.

It's the most absurd story I think I've ever heard.

Quote from: David Randolph on March 07, 2007, 11:44:16 AM
I believe that the market is bearish for as long as the SPY is trading below $141.69.

David,

Why 141.69?

Thanks,

KC Scott

Dave,

Just a quick heads up that it looks like there will be buying today until noon (squeeze the weak bears) - We think sell begins late afternoon with a test of the lows tomorrow or Friday at the latest.


Best of Luck

David,

Glad to see you've joined the Bear Camp - I went cash in Dec and missed the froth at the top, but the market is now at that level.

As for good Short candidates, you may want to look at is TWM which is an Inverse fund of the Russell 2000 and SDD which is an Inverse Fund of Small Cap 600 compaines. These are both similar products to QID ETF

As mentioned previously these ETFs don't require a margin account and with the coming market correction or crash I believe the small cap companies will be  the first ones to go in the selling furor.

Best Of Luck - Also Check your PMs - I am sending you links for some like minded boards you can take a look at when you have some spare time.

Best Regards,

KC Scott

LEAT.pk -

Horribly overvalued but on fire and pulling back a bit today

For you racing fans, they've designed a new neck guard / brace to prevent cervical injuries in motorcycle, boat and suto racing. Might be a play on a pullback to the 20/50 DMA

TRMM back on fire today

Good looking chart

David,

GSS - new 52 week highs on Volume surge - up another 3% today

Bought yesterday at 3.60

Market cap is 700 million