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Bit off another chunk this AM. The big money "handlers" have been dreaming about this capitulation for months. Christmas in October once again.
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A lot of leveraged hedge funds have been getting killed, and are a source of a lot of volatility, as well as opportunity.
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'trans' pid='50873' datel Wrote:
'trans' pid='50833' datel Wrote:
The way I do TA is a bit diff than the media. I use 2 and 3 day short term strength ratings. These strength ratings are on numbers released at day's CLOSE. So they're still maybe premature, but I want to give a hint of the internals going on.
The strength rating numbers for both 2 and 3 days appear significant building. There are only three areas where strength ratings were similar and they were significant mkt bottom area that were important low areas. They are as follows:
November 20, 2008
January 15, 2009
How about a market misery update? I mentioned this work can be a bit early on a really bad market and this is one. One thing that's important in this work is that virtually every market PIVOT POINT meaning high or low area for a number of years occurs around option expiraitons. I believe this is because so much of the BIGS action is tied up in derivatives and liquidity is highest at expirations.
August 18, 2011
I will have to review further, but these numbers present so far today were in significant low areas I believe, maybe not eh exact low
fwiw....trans
that's 6 years of data
Okay, the 2 day strength rating this am is 288. That's about as good as it gets. The normal trading buy is in the 230-300+ range, with the higher number marking the bigger bottom areas. In the 6 year period above, the bottom numbers were 282,306,283,285,305,278,301, and 286 The three day rating this am is 396, with 400+ ratings the high spots
Today's strength rating (after the close) may be even higher, but this indicator concludes that the highest pessimism occurs at the bottoms.......fwiw good luck
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Today so far the three day strength rating is 428, as a result, I'm expecting a big bottom with high odds around this opt expiratiion from here to early next week as it stands. this bash is well along....trans
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'TomCrooz' pid='50876' datel Wrote:
'TomCrooz' pid='50875' datel Wrote:The time to buy is when your trembling hand can barely pick up the phone to call your broker. Volatility like this is at the end of trends, not the beginning. Do not wait for a 10% pullback because smart money knows that is what people are expecting and will begin buying before that happens. From the high to the low today, just over 7%. When you start seeing numb nutts predicting a 600 S&P, then I KNOW we are near a bottom.
PS IOC at the 44 area should be as solid as a rock! If it should fall below that intra day, expect a big reversal to close strongly above.
I love it when a plan comes together. The dip below 44 today (43.25 -$2) was followed by a strong rebound ( currently 46.38). All we need now is the close strongly above 44 and I give you all my blessing to buy with both hands!
L Ron Rules!
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'TomCrooz' pid='50917' datel Wrote:
'TomCrooz' pid='50876' datel Wrote:
'TomCrooz' pid='50875' datel Wrote:The time to buy is when your trembling hand can barely pick up the phone to call your broker. Volatility like this is at the end of trends, not the beginning. Do not wait for a 10% pullback because smart money knows that is what people are expecting and will begin buying before that happens. From the high to the low today, just over 7%. When you start seeing numb nutts predicting a 600 S&P, then I KNOW we are near a bottom.
PS IOC at the 44 area should be as solid as a rock! If it should fall below that intra day, expect a big reversal to close strongly above.
I love it when a plan comes together. The dip below 44 today (43.25 -$2) was followed by a strong rebound ( currently 46.38). All we need now is the close strongly above 44 and I give you all my blessing to buy with both hands!
This my friends is a Croozian Reversal on IOC and with a little luck may be the biggest Croozian Reversal on the market I have seen in a loooongg time
L Ron Rules!
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10-16-2014, 05:54 AM
(This post was last modified: 10-16-2014, 06:08 AM by Getitrt2.)
Croozian reversal, maybe? And ahead of the market, even, although with it heading in the same reversal direction. Not positive, however, except for Transports and Russell 2000.
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10-16-2014, 06:05 AM
(This post was last modified: 10-16-2014, 07:14 AM by Getitrt2.)
Oops, Tom! Held off a few minutes on posting it. Glad to be in agreement with the likes of you. Ha!
Have Netflix off 13% after market on disappointment. That concern you? Should be irrelevant to Energy and IOC. American Express beat, however.
Make that drop on Netflix 25% after market! Tomorrow should be interesting. Glad don't have any now.
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'trans' pid='50915' datel Wrote:Today so far the three day strength rating is 428, as a result, I'm expecting a big bottom with high odds around this opt expiratiion from here to early next week as it stands. this bash is well along....trans
The numbers are there, a reversal is a possibility from here thru monday. imo
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'TomCrooz' pid='50917' datel Wrote:
'TomCrooz' pid='50876' datel Wrote:
'TomCrooz' pid='50875' datel Wrote:The time to buy is when your trembling hand can barely pick up the phone to call your broker. Volatility like this is at the end of trends, not the beginning. Do not wait for a 10% pullback because smart money knows that is what people are expecting and will begin buying before that happens. From the high to the low today, just over 7%. When you start seeing numb nutts predicting a 600 S&P, then I KNOW we are near a bottom.
PS IOC at the 44 area should be as solid as a rock! If it should fall below that intra day, expect a big reversal to close strongly above.
I love it when a plan comes together. The dip below 44 today (43.25 -$2) was followed by a strong rebound ( currently 46.38). All we need now is the close strongly above 44 and I give you all my blessing to buy with both hands!
Nice call Croozer!
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