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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?


To: Jeff who wrote (25686)1/23/2003 11:51:10 AM
From: Jeffrey S. Lillie  Read Replies (3) | Respond to of 30712
 
funny you should mention that period. this feels EXACTLY like that period. i remember it vividly since i was loaded to the gills with calls that i was buying on spx in three of those last 4 days. ran out of funds to buy on actual low date. we couldn't hold a rally for more than an hour. just like now. i am kind of stunned that we are now more oversold on slow sto then we were back then. lowest slo sto reading on the full 6 months on spx and nas

im all for a rally as i have gathered more bullish nuts than i want for the winter
j



To: Jeff who wrote (25686)1/23/2003 11:52:14 AM
From: ajtj99  Read Replies (1) | Respond to of 30712
 
One big difference is the weekly and daily ( to a lesser extent) full stochs still have a lot of room to the downside, and the put/call ratios are at topping levels. Add in the low VIX and VXN, and we've got a market that has a downward bias medium term and possibly an upward bias over the next couple of days, IMO.