SI
SI
discoversearch

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.
Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Justa Werkenstiff who wrote (206)8/22/1998 12:13:00 AM
From: marc ultra  Read Replies (2) of 15132
 
Justa, re:more testing. Certainly possible but I really think we may have seen it. The way I figure it (please correct me if my facts are off) we hit our initial correction closing low on 8/4 on heavy volume. We then tested that low on 8/11 and 8/14 both on only moderate volume. We finally got the spectacular test of the intraday correction lows today which was very successful. To be a test you really want to see lighter volume than the initial low and even with the incredible turbulance and volatility today (Fri) volume was surprisingly moderate which is the desired icing on the cake. The extreme put/call ratio etc. simply plays into this scenario and does not change it. I agree I would be a fool to say events can't happen that might upset this but an awful lot was discounted into this market already today and many of the potential sellers have gotten out or hedged and this money is ripe to come flowing back in now. Considering the action of the market can there be much doubt that the sentiment numbers next week will still be at a reasonable number. All the ducks are lined up now but I can't say Elmer Fudd won't shoot them down for the first in his television life.

Marc
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News