nikoschopen
2,824 posts
msg #53653
- Ignore nikoschopen |
7/30/2007 10:40:57 AM
This looks like the repeat of Friday. At 9:30 on Friday, the bears wrested control and took the market down. My expectation is that we should get another day of bleeding to complete the 3-day cycle. Watcha think?
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msummer2007
129 posts
msg #53654
- Ignore msummer2007 |
7/30/2007 10:56:51 AM
I say we finish positive, not without some violent swings to the downside. Alot of overhead to break through. My Guess DJIA up 40-60 on the day.
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nikoschopen
2,824 posts
msg #53655
- Ignore nikoschopen |
7/30/2007 11:11:29 AM
Bulls are running out of steam--and patience! Let's hope that the prior low will hold.
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nikoschopen
2,824 posts
msg #53656
- Ignore nikoschopen |
7/30/2007 11:31:51 AM
Damn, the bulls are trying so hard but, unfortunately, they aren't making much progress. One step forwards, two steps back...wearing themselves out in the process.
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msummer2007
129 posts
msg #53657
- Ignore msummer2007 |
7/30/2007 11:38:46 AM
It sure appears that way right now. Also many buyers are holding back from committing, feeling they can get better fills later in the day.
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nikoschopen
2,824 posts
msg #53661
- Ignore nikoschopen |
7/30/2007 12:06:07 PM
Alright, I reversed my position to long. Hope it will stick this time.
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nikoschopen
2,824 posts
msg #53662
- Ignore nikoschopen |
7/30/2007 12:48:27 PM
Although nothing can be claimed as definitive, the Dow looks quite bullish. My price target stands somewhere between 13,320 and 13,340.
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msummer2007
129 posts
msg #53664
- Ignore msummer2007 |
7/30/2007 1:00:12 PM
Sooner or later the Dow will seek a level. Then it will find support. I still believe any rally will be short lived. Usually low volume in August, will help the bears. Good luck on your long positions.
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nikoschopen
2,824 posts
msg #53666
- Ignore nikoschopen |
7/30/2007 1:32:57 PM
There's no doubt that this market is heading lower in the long term, namely for another month or so. But there are ample opportunities, as a daytrader, to capture reversals on a snapback, which is my forté. I wish you the same luck. By the way, the Dow should be making another trip south.
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msummer2007
129 posts
msg #53672
- Ignore msummer2007 |
7/30/2007 2:14:19 PM
The second down leg will be swift and furious. Maybe in another week or two. The current longs are just looking for a quick ride. I don't see them holding their positions very long.
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