For those of you who don't read the comments between Tony and I..... It's all the debate if this was a "Higher Low" or if we are just grinding against Monday's low..... in a developing descending triangle on that resistance
Stay tuned to the market tomorrow, for the answers. Though, I'm not certain, my" spidey sense" is that this is a Higher low.... Too bad I'm more Wolverine, than spiderman.
So.... Regardless of My "Mojo", the technicals have yet to pan out.
Tuesday, December 23, 2008
some indicators
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9 comments:
Honestly, I just don't see a higher low here. This is a rotten smelly graph that shows nobody wants to buy stocks for any length of time.
I'm sitting on losses that I'll sell after the first of the year to offset some (hopefully) future gains in the new year. I wonder how many others are doing the same?
Grinding, choppy, low volume, selling into the new year, that's all I can see from here. Maybe by Jan 8 or 9 buyers will show up... and it could be dynamic.
[I don't know why I type these predictions... my mind will change by 10 am tomorrow when the small caps rally out of the gate.]
of course the spy was only off by a .25, but that was roughly a 76.4 retrace...
I'm with you on "people don't seem to want to own stock"
If you saw the T. Lo comment where she "hinted" at a "Textbook entry into the market"... says she may be hinting that the textbook January effect entry may work, so I'd be long something on Dec 30-31... Just in case that textbook entry works...
All I'm getting at is that there are some "Hints"... but only the fact that we should have been able to retest yesterday and didn't.
You would think that mop guy would get the hint and fuck off, that and that he just copies what I say, before I say it...
annoying..
also... watch regionals today... we may get a pop
Did you get short RIG yesterday?
I was thinking about buying it yesterday...
but didn't, and we may have a nice spike low..
we may get a nice bump up in oil names, with the joe teranova effect.
I did buy some regionals yesterday....
which have made a nice move up this morning.
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