Thursday, January 28, 2010

Thursday... mkt down heavy again.

Market made new lows on this down move. Nas way weaker than spx. broke out of the lower end of trading range around 1085ish. Hit 1078, near the 1077.41 RL (83% probability) Looking for a bounce here. On a weekly basis next stop if breaks 1075 would be 1032. And I only have one position on . Very frustrating after waiting all this time for the dump, watching put options go off the board worthless, and now I have none. got out too early. I am missing the party and no way to get back on board. I refuse to chase it. All I can do is wait it out, wait for a bounce. All the buy signals were merely warning that the down move is coming to an end soon... but who knows where. The dailys are not showing a buy yet. And there is no bullish divergence on the MacOsc. its confirmation instead. Whats interesting is that the TRIN is in bullish territory at 0.67. yet the A/D is negative -1685, and the tick is aimed negative. The nas trin is bearish however, 1.38. sell off happening now, 11:20 with tick hitting -1,100. a big wave of selling. a/d is heading for -2000 which would be big. Options are about twice the price I want to buy them at. VIX is at 24-25 pumping up the cost. consider it was at 17 seven days ago. what a deal that was.

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