Discussion in 'Trading' started by capmac, Oct 12, 2005.
IMHO, 1172.65 in the SPX will be a key pivot point for Thursday.
Capitulation?? The market has only been down for a week, 6 trading days. Still holding near the July TERROR bottom , though the Katrina bottom went fast. Maybe you will get it Fri with the cpi.
Errr. . . uhm. . . charts and reasons? A good way to change things is provide a whole lot of examples. My intent is not to insult or demean, but to push along your ideas for change.
When the index bleed steady like this with highly negative internals then it indicates smallcaps and midcaps being dumped. Those stocks that don't affect the index's as heavy as the larger stocks.
If the big caps had been sold as hard then the dow would have been down 100 the last two days.
TGregg, it is unfortunate that none of the moderators that we have contacted have responded to OUR recommendation as of yet about providing certain guidelines to "market call" posts in the Trading Forum. As you well know, enforcement of the guidelines that we discussed will be the only thing that really cleans up this Forum from the idiots that don't even trade and sound like a broken clock without any supporting parameters, basis, or specific price points and time frames, not too mention stop losses.
Until they get back to us, yesterday I provided 1172.65 as an SPX Pivot Point for today's session.
Anyone with the slightest understanding of pivot points know where they come from.
This morning's low: 1172.55
Date Fair Value
10/17/2005 0:00 32.98139489
10/30/2005 23:00 34.0810005
11/13/2005 22:00 37.2457023
11/27/2005 21:00 41.93168057
Might be worth Longing
It sure would be nice to see some BIG downside moves to end this, instead of stocks falling pennies per day.
And as usual, we get the usual 15 pt Nasdaq pump sometime during midway almost every single day. Why can't the powers that be let this thing fall and stop this torture?
There is absolutely no fear in this market, look at GOOG, up 4+ points. It seems the more the market slides, the more speculative issues become safe havens...
Buy the dips, baby!
*do I sound like Eqt now?*
Wasn't the exxon trade yesterday, 24 million shares, capitulation?
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