3SOF

when the trading curbs kick in is this a indication for the market to trade one way or another in the future?

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JSDA is one of those I dream about buying at less than $1, but now? Absolutely not, way overvalued in my opinion, should be cut in half, Wall Mart or no Wall Mart.

Quote from: prodigykid6 on March 13, 2007, 03:26:06 PM
when the trading curbs kick in is this a indication for the market to trade one way or another in the future?

Trading curbs are in CNBC says, this will probably just draw out the downside the rest of the week. Emerging markets are going to lead way to more downside possibly tommorow... Then the rest of the important economic indicators the rest of the week (CPI, PPI, etc.).

Thanks David!

Quote from: prodigykid6 on March 13, 2007, 03:26:06 PM
when the trading curbs kick in is this a indication for the market to trade one way or another in the future?

Well, I guess that depends on the direction of the market when the curbs are placed, though I guess they are unlikely to be placed on an up market.

The logic is that if there are curbs on a falling market, then not all the selling that would normally occur does.  The curbs help stop overt panic that would then cause a selling frenzy.  But the remnant selling that got curbed on the first day could still happen later.  That is the thinking anyway, but I guess it could work differently if it kicked in and curbed ONLY the potential panic selling somehow, for example.

Eric Bolling said if the S&P drops below 1371 things could get ugly...where does he come up with this number?

I think that was the low of the previous decline prodigykid.

Quote from: prodigykid6 on March 13, 2007, 03:58:16 PM
Eric Bolling said if the S&P drops below 1371 things could get ugly...where does he come up with this number?

Not sure about 1371, but if it closes below 1374 I see things getting ugly because that was recent low set on 3/5.  But below that it seems there is some support at the low 136x range.  1350 looks like a great place for a bounce if it can hold as its both a support line and the current 200sma.

No doubt in my mind the market will go lower.  The nasdaq will at least drop to the 200dma or just below...like other pullbacks over the last few years.

Nasdaq may even drop to the 3 year bottom channel in the coming weeks...today the trendline's around 2150.

If below that    

Quote from: tokyopua on March 13, 2007, 04:08:20 PM

Quote from: prodigykid6 on March 13, 2007, 03:58:16 PM
Eric Bolling said if the S&P drops below 1371 things could get ugly...where does he come up with this number?

Not sure about 1371, but if it closes below 1374 I see things getting ugly because that was recent low set on 3/5.  But below that it seems there is some support at the low 136x range.  1350 looks like a great place for a bounce if it can hold as its both a support line and the current 200sma.

ahh i see now. so pretty much if we open lower tomorrow thats bearish and if we close below 1371 support thats even more bearish and the next support level is the 200 day moving average which is 1350.

i think we go lower tomorrow and test the 200sma but i doubt it goes lower. could be wrong but if we go lower than that then i bet the yen carry over and the asian economies fall apart as well.

wow if i would have seen the SPY and COMPQ charts a week ago I would have never went long on anything. its amazing how much there still is to learn. thanks for the education as well guys and dave.

Quote from: prodigykid6 on March 13, 2007, 04:36:41 PM

Quote from: tokyopua on March 13, 2007, 04:08:20 PM

Quote from: prodigykid6 on March 13, 2007, 03:58:16 PM
Eric Bolling said if the S&P drops below 1371 things could get ugly...where does he come up with this number?

Not sure about 1371, but if it closes below 1374 I see things getting ugly because that was recent low set on 3/5.  But below that it seems there is some support at the low 136x range.  1350 looks like a great place for a bounce if it can hold as its both a support line and the current 200sma.

ahh i see now. so pretty much if we open lower tomorrow thats bearish and if we close below 1371 support thats even more bearish and the next support level is the 200 day moving average which is 1350.

i think we go lower tomorrow and test the 200sma but i doubt it goes lower. could be wrong but if we go lower than that then i bet the yen carry over and the asian economies fall apart as well.

Well, a lower open can be bearish at the moment it happens, but if it creates a gap down (which it would since the closes today were on the lows of the session), you would likely see a bounce back up to fill the gap.  That can ironically create the momentum needed to have a weak bounce. 

However, and open only slightly lower that gets filled quickly and advances down will be more bearish.

But regardless of the open tomorrow, today again indicates a bearish tone to near term trade.  I have posted a lot about IBD correction theory and today clearly snaps the rally attempt from last week. 

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I'll leave AMRN for first thing tomorrow, youtube.com takes an eternity to upload videos at this time of the day.

See ya