Friday's Key Reversal… -Now looking for weekly
Enviado: 11/6/2003 15:12Could this be IT? A Key reversal day…
I thought I would spend a little more time on my piece from yesterday on flexibility and I will probably repost it for the weekend…
It is very important that we adapt… adaptation is the key to survival… that’s how your DNA got you there!
Many of you have asked me since thursday if that meant I was going bullish… what it means is I’m listening to the music… I am watching the “patterns” emerge; -I am not jumping the gun mind you! As I feel a number of “gurus” did… I am letting the market “show me/us”…
This is very important… think of all the victims who bought stocks too soon into declines… the bargains on CISCO at 50 then fell to 11… the deals on EMC at 40 then got better at 5! …
For the better part of 3 years the SPX has been in a clear downtrend, this being defined as lower lows and lower highs with intermittent counter trend rallies into the 200 day moving average. The Nasdaq did roughly the same thing.
The SPX has now rallied a good deal thru the 200 day moving average… there’s the show/me… is it telling us something? –Now? While at the same time the nasdaq composite (COMP) has rallied thru the 200 and 400 ! -there is now a strong possibility the nasdaq is in the process of bottoming… ***STAGE 1*** it will show/not show us that over the coming weeks and months. If it is … that would be great! Because what it could mean is stage 1 advances everywhere(NASDAQ). For those of you who have read Stan Weinstein “secrets for profiting in bull and bear markets” you know what I am talking about, -if you don’t… shame on you!!!! BUY THAT BOOK www.half.com -get a hardcover. -like $13 !
Also as a piece of homework look at amazon.com and yahoo (AMZN) and (YHOO) on www.bigcharts.com look at 5 years 2 line moving avg 200 and 400 you will see how these stocks recently bottomed and went up 85 and 90% recently… the index just went thru 200/400 thats why I didnt jump the gun...
The nasdaq may be bottoming first… it will tell us… it is still in the “show me”…
We are watching and listening to the music…
· as for the Key Reversal day… the SPX and russel did have one… this too needs to be watched we were up 170 points at one point today, -after that they sold off the rest of the day.. now look for a weekly key reversal… we are looking…
Key reversal are difined by rising and closing below the prior close …. Or falling then rising above the prior close… not just a reversal… a “key” reversal as this reversal may signal a change in trend… as in the rally may be over… for the moment… weekly more important… WATCHING…
By: Damon Vickers
I thought I would spend a little more time on my piece from yesterday on flexibility and I will probably repost it for the weekend…
It is very important that we adapt… adaptation is the key to survival… that’s how your DNA got you there!
Many of you have asked me since thursday if that meant I was going bullish… what it means is I’m listening to the music… I am watching the “patterns” emerge; -I am not jumping the gun mind you! As I feel a number of “gurus” did… I am letting the market “show me/us”…
This is very important… think of all the victims who bought stocks too soon into declines… the bargains on CISCO at 50 then fell to 11… the deals on EMC at 40 then got better at 5! …
For the better part of 3 years the SPX has been in a clear downtrend, this being defined as lower lows and lower highs with intermittent counter trend rallies into the 200 day moving average. The Nasdaq did roughly the same thing.
The SPX has now rallied a good deal thru the 200 day moving average… there’s the show/me… is it telling us something? –Now? While at the same time the nasdaq composite (COMP) has rallied thru the 200 and 400 ! -there is now a strong possibility the nasdaq is in the process of bottoming… ***STAGE 1*** it will show/not show us that over the coming weeks and months. If it is … that would be great! Because what it could mean is stage 1 advances everywhere(NASDAQ). For those of you who have read Stan Weinstein “secrets for profiting in bull and bear markets” you know what I am talking about, -if you don’t… shame on you!!!! BUY THAT BOOK www.half.com -get a hardcover. -like $13 !
Also as a piece of homework look at amazon.com and yahoo (AMZN) and (YHOO) on www.bigcharts.com look at 5 years 2 line moving avg 200 and 400 you will see how these stocks recently bottomed and went up 85 and 90% recently… the index just went thru 200/400 thats why I didnt jump the gun...
The nasdaq may be bottoming first… it will tell us… it is still in the “show me”…
We are watching and listening to the music…
· as for the Key Reversal day… the SPX and russel did have one… this too needs to be watched we were up 170 points at one point today, -after that they sold off the rest of the day.. now look for a weekly key reversal… we are looking…
Key reversal are difined by rising and closing below the prior close …. Or falling then rising above the prior close… not just a reversal… a “key” reversal as this reversal may signal a change in trend… as in the rally may be over… for the moment… weekly more important… WATCHING…
By: Damon Vickers