Clown-Free Zone... sorry, no clowns allowed Message Board

STOCKTALK

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.

Pastimes : Clown-Free Zone... sorry, no clowns allowed

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: AllansAlias who wrote (17345)	9/11/2000 10:15:11 PM
From: Perspective	Read Replies (3) of 436258

I agree with the idea of buying on that trendline test, much like I should have been buying on the 200DSMA test today. They WILL make an attempt to save it there. I hopefully will be able to take advantage of that, but strictly for a short-term trade. I'll be in for about 10% in the favorites, and then re-establish shorts. My question is: what does one consider to be a trendline failure these days? NDX spent nearly a week underneath the trendline in both of the previous tests. I guess I was guilty of seeing intraday failures in SOX and NDX at old lows and thinking the whole thing was coming unglued. Maybe I need to see two consecutive down closes below the line? Maybe the churning action without further downside progress should have tipped me off to the upside outcome? I used to be able to smell bottoms (pun NOT intended!) by waiting for the composite put/call ratio to spike up over 1.00. I think it barely crossed 0.9 for just a single day during the previous southward expedition, which meant I was caught awaiting further downside. BC

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next