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ProShares UltraShort Dow30 Message Board

  • trucks_turning trucks_turning Jan 20, 2012 10:33 AM Flag

    That's it for Armageddon

    lasted about an hour

    if markets do in fact close green today, then they will just be more overbought than yesterday.

    this can only go on for so long

    but it can go on longer than most would think

    GL

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    • S&P hit 1326 the 2011 peak and a little over 1327 for awhile. Fed says no growth until 2014. While home sales activities pick up, but home sales price keeps falling. JPM went up on a miss. Yahoo went up only met. If this is last October, stocks will tank like a rock. Unbelievalbe optimistic mood that market is in. Everyone is convinced Ben will issue QE3 to continue rescuing the market so they just have to buy more to bank on that happen.

    • As of yesterday the SPX closed 5.37% above its 50 DMA. Closes >=5% above the 50 DMA happen about 9.4% of the time.

      About 2.76% of the time it will close >= 7% above the 50 DMA.

      About 0.68% of the time it will close >= 9% above the 50 DMA.

      I haven't done a detailed analysis of these situations but I have noted that getting >=5% above the 50 DMA and continuing higher seems to occur most often when it is rebounding from a sharp selloff, not when it has been on an extended run. So the likelihood that it simply vaults higher from here without either treading water or at least pulling back a little seems low.

      Yesterday' ES high was 1311.50. The overnight high was also 1311.50. The high so far is 1309.50 so I have not been able to get a look at the price ladder to see if serious selling will emerge at 1311.00 - 1312.00 again. If it does it is likely the market continues to at least stall in this area (SPX 1315-1316).

    • what's interesting about today is that market internals have been iffy all day with $TRIN up in the 1.30's and now at 1.9x, at 11:15

      $TRIN is indicating panic selling at current levels and yet market hardly down at all.

      trend day down in 10min charts of $SPX/SPY but so what?

      if not for IBM and MSFT markets should be off by a full % today, IMHO, of course

      GL to anyone trying to short this 100% manipulated market

 
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