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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (30057)2/2/2002 9:54:48 AM
From: At_The_Ask  Read Replies (1) of 209892
 
I may bail pretty quick. Not that I keep track of sentiment or anything, but it's been at a bearish extreme in rydex for awhile. Those high put calls bother me a bit too. There was no real buying on friday IMO. Looked like short covering to me. No bulls took home fat positions for the weekend. Maybe they are learning.

stockcharts.com[w,a]daclyymy[pb50!b200!b20][vc60][iUb14!La12,26,9!Lp14,3,3]

Compare the moving avg crossovers to the may rally. We really didn't begin to fall until they crossed to the upside. It's hard to imagine after all the down we've had but this may just be the beginning.
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