Stock Attack II - A Complete Analysis 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.

Strategies & Market Trends : Stock Attack II - A Complete Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: donald sew who wrote (14209)	8/8/2001 6:47:31 PM
From: Justa Werkenstiff	Read Replies (2) of 52237

Donald: Re: "The SOX was down 4.90%, so it is leading the the NAZ/NDX to the downside. As mentioned previously, it was interesting that the SOX could not lead/boost the NAZ/NDX to the upside during the previous upswing, but is leading to the downside." It means the Sox pump was all air with no holding power. The Nasdaq caboose did not hitch a ride with the Sox express. Negative divergence. Re: " My readings on the VIX is a little out of line with the indices since it would take 2-3 days to get a CLASS 1 SELL signal(buy signal on the market) while the indices are hinting that we could get CLASS 1's as early as tommorow. Not sure what to make of it right now - so will be watching it carefully. " It suggests to me that this market could flush more than most think. The complacency with the decline thus far tells me that there is complacency with the fact that we are bouncing along the bottom, trying to find a base to work higher and so forth. The bull's last stand (I have heard it enough on CNBC now) is that we are above the bottom and that is good news. This is how they justify their take that we are in a new bull market. It is their line in the sand. But they have sold it so hard that there are no buyers left whether new longs or shorts covering. They sold the bull. The selling has been relentless. One after another on CNBC selling stocks and more stocks and a sector like the SOX and the market and their fund. Blah, blah, blah, blah, blah. A buying vacuum was created. Everyone who wanted to be in was in. Again, this created a perfect scenario for the bulls to eat their own and that is what they are doing now. Now, of course, we will get the other side soon enough for a bounce where the bears eat their own by starting to short on the late side.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next