Live Update

Monday, June 22, 2009

06/22/2009 After Bell Quick Summary

Very short-term very oversold, also statistically tomorrow is known as a “Turnaround Tuesday”, so I see very good chances a rebound tomorrow.

An example of how oversold the market is – a short-term model from



  1. Thanks, Cobra! CPCE is not bad today, about 0.71. I think today's action is a still a pullback. Should we buy on dip? Do you think the intermediate downtrend officially start?

  2. Buy dip for a very short-term gain is doable, that's all I can say.

  3. Game plan, if we gap down buy the dip, if we gap up and go toward low 900, short the market.

  4. Agree. Statistically, this is the formula for trading the day after a Major Distribution Day which is day. (Most people call it 90% down day)

  5. No, CPCE readings only correct after 7:30pm ET.

  6. Do you think it's safe to buy the SPX futures now for a very short term (10 point scalp maybe)?

  7. Buy futures for a rebound tomorrow is doable.

    Buy a gap down tomorrow will be much safer.

  8. I did a partial cover today, and am looking to re-short tomorrow.

    GLTA, but especially to those playing the long side... Yikes!



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