MARKET INDEX TECHNICAL ANALYSIS - MITA 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 : MARKET INDEX TECHNICAL ANALYSIS - MITA

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Alex MG who wrote (14011)	8/3/2002 4:51:53 AM
From: Steve Lee	Read Replies (2) of 19219

"I still see a high possibility of a significant rally from a retest of the July 24 lows" I agree, subject to clarifying that "significant rally" means something like 15%, rather than the bigger rally we had throughout the end of last year. The VIX spike at 57 may well have been a selling climax, but VIX is now 45.39 so the fuel from that climax has been at least partially expended. Equity put call is not in the region of major bottoms. Rydex Nova/Ursa ratio made a monthly high on Jul 29 and is still high compared to the last 30 days' prices. Sentiment polls indicate sentiment is improving slightly. This wasn't the case at the Sep 2001 "bottom" that many are comparing the current period to. I closed my shorts near the close on Thursday and am thinking I was a little too cautious. I will see what Monday brings in terms of equity P/C and implied volatility before making any plans for next week's trading.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next