Comments on Chart Swing Trader: State of the Market - 11/13/09

Jason - you make excellent points and all of them ...

2009-11-15T20:58:29.653-05:00

Jason - you make excellent points and all of them make very good sense - I agree with your case. As I've been saying, however, we've seen these bearish signals before and they haven't amounted to anything for whatever reason, so you have to remember that. I keep thinking at some point the market will go back to being somewhat reasonable and those points will matter, but we're not there yet it seems.

Anonymous - that's fine to just say "close your eyes and buy" and you know what, you may be right. But as a technical trader, when you see so many bearish signals out there, it is next to impossible to just put what you see aside and buy "on a hunch" or because that's what seems to be working. That's why this has been a tough year for me - the technicals in most cases haven't worked well.

I am doing some research and have noticed that the...

2009-11-14T21:31:22.294-05:00

I am doing some research and have noticed that the Nasdaq has the lowest average mount of stocks participating in the up-move from the beginning of this month, in the last 5 1/2 months, The NYSE is showing about the same. The Nasdaq volume patterns are about the same
as the last upleg, very poor with a decrease in overall volume. Also the 52 week high patterns on the NYSE are the lowest in the last five months, and have seriously
contracted in comparison to the last up leg. Also, everything I posted on Nov 7th seems to be still in place. But all this means right now is that it is very prone to break down from here, and that all depends on the dollars direction until that relationship ends. We
have a bunch of economic reports coming out Monday through Thursday, the dollar is at what can be support until its seriously broken, and options expiration on Friday, so some big moves can occur this week and should be fun to watch. Looking over individual stocks and industries, this market looks like it can go higher from here, and has a line in the sand feel to it, but if we dont capitalize on fridays move on Monday and stay out of the red, then I think we are looking at more downside and a red week for the markets, and a great week to be long the dollar.

Like I said many many times here before...just clo...

2009-11-14T14:18:13.706-05:00

Like I said many many times here before...just close your eyes and buy the indices till Jan at least. Its money in the bank..bank on it! The feds/govt needs a decent holiday season. Cant you see/eel they are really afraid of even a decent correction. Any pullback is a buy oppt.

I trade the TSX and daytrading for the last week h...

2009-11-13T22:39:10.179-05:00

I trade the TSX and daytrading for the last week has been like staying at a party where everybody's gone home already. The market feels really sketchy.

Hey mac, yeah the volume was very light, and I st...

2009-11-13T17:23:01.688-05:00

Hey mac,
yeah the volume was very light, and I still have to look at what has been going on, but overall the problems I have seen last week seem to be still out there, and now the lowest volume day on the Dow in 25 trading days; financials were weak today, all day; the dollar was down but oil was down also? I'll have to do more research this weekend since I have been out of town, but I'm looking forward to additional earnings and economic reports leading into options expiration.