Bobby: Re: "justa, the fact that the bear threads dominate the top of the hotlist for this big rally off the march - april bottom, is bullish, i thought that when we had the fake-out break-out a coupla weeks ago and the clowns were off the hotlist for a number of days, that maybe that was enough capitulation to mark a turning point in a bear market rally, however the nas held the bottom of the box and has had a bunch of bad news thrown at it and refuses to break down."
Greenspan deserves alot of credit. Imagine if there were
any fundamentals to go with these rallies.
Re: "we are use to a low vix marking tops, however there are a boatload of stocks and indexes that have gone sideways since late april, creating cheep options, so i'm not sure the vix can be equated to complacency, maybe indecision."
I think vix will still mark a top. Low vix can stay there for a a time in a bear market rally. It could go lower.
Re: "gaps are usually encouraging for emerging trends, unless they are exhaustion gaps, a gap open tommorrow has to be given the benefit of the doubt, sure would't short it, unless maybe it did a giant gravestone doji -g-"
I am selling the gap. Shorts to be done as the day progresses. Too many warnings despite markets willingnes to ignore them for now. LSCC, COMS, Transwitch. More to come. This is a "stabilzation" pop based on hope on a rope and confused shorts. But cancellations and push outs do have a tendency to decrease when backlog is no longer. This pop is not surprising to me at all. Next to come: no growth and more business declines in Europe and Asia and another trip down. Lots of bullishness out there in threadom tonight. |
