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 www.sentimentrader.com.

STEM.MR

10 comments:

  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?

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

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

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  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)

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

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

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  7. Buy futures for a rebound tomorrow is doable.

    Buy a gap down tomorrow will be much safer.

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  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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