SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Longer-Term Market Trends
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: AllansAlias7/10/2008 10:04:06 AM
  Read Replies (1) of 3209
 
Hmmm... what a fascinating situation we have here. The market is pushing itself into a corner, more and more just these last few days of price action -- a corner from which there are only two possibilities: a really nice, violent rally or a spill that will rank up there with other historic "down events".

Traders are trying to time the bottom here. There is a little too much of that imo -- that is greed winning out over fear. We are seeing all sorts of extremes in soft sentiment (surveys), but still no extreme in hard sentiment (e.g., option action).

I am happy to be on the sidelines here, as I have been now since going flat on July 1. I sort of wish I had a little cheap insurance here -- just a small number of puts out of the money.

I would welcome the flush. The overhead resistance we have talked about this past week or two is so close that there is not much room for a sharp rally. A flush would make some overhead room for a nice 20% pop (or whatever) that would serve well scare the daylights out of the shorts and reinvigorate the tiring bulls.

What I really wanted to reiterate today was this: We can all see what *is* happening. We all have charts. There is not much need to comment on what *is" imho. What I want us to continue to concentrate on is what *will* happen. We do not typically post charts to show the past, but to show what is likely to unfold in the future. This is what I mean when I post "a chart with implications".
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News