AJ,
I WILL RESPECT YOUR WISH AS I HAVE NOTHING BUT RESPECT FOR YOU AND YOUR WORK HERE. I WILL ADDRESS SOME OF YOUR STATEMENTS IN CAPS.
I don't see how we can have any sustained rise without testing underlying support at 1347 COMP.
A gap and run does not really fit well.
I CAN AND I HAVE OUTLINED BOTH SCENARIOS IN EARLIER POSTS. ONE THAT HAS US UP FROM THE START ON MON AND THE OTHER WHERE WE DROP TO 135O THEN RISE. IN BOTH CASES THE TARGET IS PRETTY MUCH THE SAME AT 1460.
FWIW, due to overuse of the term PPT here to describe any bounce off support, I'm going to be putting anyone here who uses the term on this thread on ignore starting tomorrow.
I hardly ever use ignore, as I get along with nearly everyone. I just can no longer handle all the crying about PPT when the market is just fulfilling what the T/A says will happen.
I TRY TO. AT LEAST I DONT DO ANYTHING INTENTIONALY TO PISS SOMEONE OFF.
I haven't seen any evidence of PPT since July 2, when a mysterious 10,000 contract S&P order came in around 2:35PM when the market hit a critical support level at 8300 Dow.
I HAVE NO PROOF IT WAS (THE THREE LETTER ACRONMY), BUT WHAT THE HELL HAPPENED ON THE AM OF DEC 6TH. TERRIBLE NEWS, FUTURES DROPPING LIKE A STONE AND TOP IT OFF WITH KEY RESIGNATIONS IN BUSH'S FINANCIAL TEAM. WE DROP HARD FOR 5 MINUTES AND RISE LIKE WE WERE SHOT OUT OF A CANNON AS SOON AS MARKET OPENS. NEXT WEEK AFTER A WEEKEND GOES BY SO SOME FORGET WE TAKE A WICKED DUMP.
Nothing personal, Jeff. I just am totally and completely tired of hearing that term thrown around and used to explain everything that happens in the market.
NO OFFENSE TAKEN.
If someone does have a PPT reference, at least substantiate it with something on the level of this 10,000 futures contract buy at critical support at the 2:30PM turn July 2nd.
Otherwise, it's just whining or unsubstantiated BS, and we're better than that here.
JEFF |
