Hi Gottfried,
Just trading the semicaps for now - thought they would provide a comparatively strong bounce. Should the markets see a discrenable bottom over the next few months, thats probably the first place I will look for a cyclical bull run.
Well, if the bear-rally patterns are to hold, then we should see a bounce tomorrow. Don't know what will catalyze it, though.
TRIN closed at a very high 2.78. A close over 3.00 would have triggered a buy point according to "Warpfactors rules of TRIN", which by the way have not failed to signal a tradeable bounce since I invented the rules.
A possible scenario would be that tomorrow opens down hard, we reach an extreme TRIN over 4.0 (and extreme VIX), and then the rebound starts, basically replaying for the big boys what the little boys did last week.
A TRIN over 4.0 will get me to loosen the purse strings a little for some more tech buying.
But, should the NAZ finish down hard tomorrow with mediocre TRIN, I will probably get out.
BTW, took my girl to the playground this morning. In the two mile drive through Alameda, I must have seen 3 "open houses". No sign of the housing market slowing down around here. In fact, quite the opposite. Open houses on a Tuesday morning??? The realtors must have a strong expectation that people are going to show up. |
