AJ: I've been looking at that gap, too.
That quote from Worden on the SAII thread was interesting.
For now, the trend is up, and there have been clear buy signals. The only question, as usual, is how long the trend will last -- a day, two days, a week? In this volatile market, I don't know whether there's any such thing as "sustained" or "extended."
39.006 6.551
39.006 6.551
45.148 20.548
50.375 31.184
49.926 27.225
60.000 48.416
The CI's are taking a vacation for a spell. Along with a lot of other indicators, they saw the latest "bottom" in the Naz and went long. So they're heading out on a bullish note, while they're trending up. In any case, if they turned bearish again soon, they'd probably be run out of town.
They've earned a vacation. By the time they return, they'll probably have gone long and short and long again quite a few times. The bull/bear argument is a non-argument. (Does either camp ever get tired of it?) It's like arguing whether waves move up or down.
Trading isn't about being bearish or bullish, but about being quick, about taking short and long views, looking down as well as up (like at that gap you mentioned, but also at the resistance levels above), about being in advance of every contingency.
The CI's can be found in a briefcase in Budapest. |
