S&P about out of gas?

Discussion in 'Politics' started by Manolo, Mar 7, 2004.

  1. prox

    prox

    We are sitting on the top of the 20 band, so resistance at 1160 at least for a few days seems likely. Any down move is going to be bought up, so if you're shorting don't expect much.

    I'm expecting a narrow range for the next few weeks, but it'll have to break out eventually.
     
    #11     Mar 7, 2004
  2. well....then there is an election year statistic to consider too... :)

    Michael B.


     
    #12     Mar 7, 2004
  3. Manolo

    Manolo

    OK. I respectfully ask you two children to finish in the sandbox.

    I see the VIX has hit a low of 14 on two separate occasions last week, and this may prove to be a bottom. Hopefully, a rise in the VIX, even a small one, will help precipitate the healthy correction that has long been overdue.

    Also, the non-confirmation highs of the Dow Industrials and the XMI give me hope that they have already topped.
     
    #13     Mar 8, 2004
  4. Manolo

    Manolo

    The double bottom on the vix at 14 proved to be good support. The non-confirmation of the index highs by the Dow and XMI also left the market vulnerable.

    The turn could start feeding on itself. Does anyone else have an opinion about this potential turning point?
     
    #14     Mar 8, 2004
  5. Just a word of caution about the VIX . . .it is not the end all, be all indicator to base trading decisions on. The number 14 is meaningless . . .

    ie.) The VIX traded down to 9.0 at the end of 1993.

    http://finance.yahoo.com/q/bc?s=^VIX&t=my
     
    #15     Mar 8, 2004
  6. Manolo

    Manolo

    You are correct, waggie. The vix is not the end all. But I saw a double bottom at 14, and today it rose above 15. My indicators tell me that the vix is on the way up, and that usually precedes a correction. The vix is just one piece of the puzzle.
     
    #16     Mar 8, 2004
  7. Sorry bro, but you are sadly mistaken.

    You are also sadly mistaken if you think that basing a trading decision off the VIX is a prudent and intelligent method of trading.

    Double bottom at 14.0?

    How about THE double-bottom at 19.0 or 18.0 back in June and July of last year?

    What about THE double-bottom at 16.0 in November of last year?

    Or was it THE double-bottom at 15.80 in mid-December and early January of this year?

    Meanwhile, the NASDAQ rallied 50% during this time frame.

    Good Luck.
     
    #17     Mar 9, 2004
  8. Fair enough.

    With all due respect, could you please enlighten the rest of the board as to what "other" components that you use besides the VIX that go into your trading methodology, and how you use or interpret those components?
     
    #18     Mar 9, 2004
  9. Manolo

    Manolo

    Really? Then what's this:

    Please don't respond, and move on and try to intimidate someone else. Thank you.
     
    #19     Mar 9, 2004
  10. Take a look at my posts on ET and I dare say that 95% of them in the Trading Forum are constructive and insightful posts that have nothing to do with the ridiculous "cheerleading" or "I'm huger than Huge!" posts that we have seen from the James Stock's of the world.
     
    #20     Mar 9, 2004