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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jon Khymn who wrote (83741)4/17/2003 11:52:01 PM
From: Tom Pulley  Read Replies (1) | Respond to of 99985
 
Not a good day today for my short position! Just when I was getting confident the bottom would soon fall out, the market managed to fool me again. The put/call ended the day at .52 and equity put / call at near .4. That supports the likelihood the market is not going to run up to far. This chart below showing the relative strength of Nasdaq summation index at 91.7 also indicates that it is getting close to time for a move back down.

stockcharts.com[e,a]daclyyay[d20020417,20030417][pb7!b20][vc60][iLb14][J6441731,Y]&pref=G

Tom



To: Jon Khymn who wrote (83741)4/17/2003 11:58:07 PM
From: SpecialK  Read Replies (1) | Respond to of 99985
 
The inverse or negative correlation is how I've always perceived it, I didn't closely look at Briefing's results, but thought to share it for all.

They are short-term bullish, which seems to be working, but they will soon turn to neutral, I think, as we are getting overbought.

I'd like to short Broadcom, perhaps next Thursday, any thoughts?


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