PAYING CREDIT CARD BILLS BEFORE MORTGAGE?
Here's the "oversold" rally I said was coming, yesterday's decline on weak volume opened the door.
Heavy winter snows and cold temps putting even more stress on local gov budgets and consumers.
$ off in early trading giving some back
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4 comments:
Duratek,
Today was a 90% up day and we had a 90% down day a few days before the most recent low. I know you follow lowry. The lowry bottoms are really for bear markets but I have seen them work for intermediate term market corrections as well. We have one now. So, if you're short, be careful. We may eventually go down but I wanted to bring this to your attention. Let me know what you think.
Tuesday was 87% down volume, so officially Lowrys does not count it....it could 89.9% and they wouldn't count it.
AAII poll I recently got showed too few bulls, too many bears...even EWT was saying if Greece gets bailed out expect relief rally.
With snow, biz and all I have not been trading much last few months so I have not been short....though I should have been from 1150 triple tops,,,,I am not expecting a new rally high from this move but we have our parameters....more later if I am able
Duratek,
My reading came in as 90% down day for Tuesday but only 85% up day yesterday. I get live data but I guess they don't compile all the data until the next day. So, yesterday it was 90% but I should have waited to look at it this morning which said 85%. Anyway, no lowry bottom yet and anything goes. Sorry for the false warning.
One more thing, Lowry looks at the points and the volume. I just use the volume.
They actually listed it as 83%...they use ALL the NYSE data. I DON'T like the backdrop to the economy, I DON'T think bear is over even if long term bottom is in
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