Wednesday, October 25, 2006

We Cannot Catch a Break

I was on a business trip today. I had to get on a plane, but I was still on the ground to see the Fed announcement and the usual up and down craziness. The market seemed to be moving down nicely, minus over 40 on the Dow.

I got on the plane, flew home, landed, and checked the close on the Dow. Up 6. Jesus Christ.

I'm too depressed to do a post now. Maybe tonight. This is just ridiculous.

8 comments:

Denver_Investor said...

Markets DO go down.

At least I've heard this is the case.
Of course...it could be different this time.

The 14 day RSI on the DJIA is now Over 80. Something I can't recall ever seeing before. And today was the 14th straight day of an RSI > 70 for the Dow. Simply amazing.

The last 1% or greater down day was July 13.

The unexplainable can not be explained.

PB said...

Dow briefly passed the 3rd Standard Deviation above the 200-Day m.a. . for the first time since March of '98 , and only the 6th time since 1990

The Q3 pre-lim GDP shd still hold in there, if there is a surprise down, we go down.

Leisa said...

Toshi, do not despair. I see the HMO's are in the red a bit.

rcreedon said...

Daily and Weekly Stochastics on the Dow are pegged at 97. They have been up there awhile - which led me to this site.


Any recommendations for a good Technical Stock Screener? I was looking at:
http://www.zeebob.com/

The functionality looks pretty good, but have a really hard time buying anything from a company named "Zeebob".

ctkwtk said...

Denver, From 11/06/96 to 12/02/96 DJIA RSI(14) stayed above 70 for 18 days with a high of 86.89. There's room above. BUY,BUY,BUY! ;)

EddieFl said...

The prolonged strength in the indicators is a massive buy signal.

This means buy, buy, buy. IT is a sign of a major advance that could last months to come, probably not straight up for months, but with an upward bias.

It has happaned before.

mde said...

I'm buying everything that dips during the day. This strategy has paid off well the last couple weeks. I was bearish but decided that bulls are going to win this battle. Whenever the Dow drops .3-.5 percent during the day you know that it is time to load the boat because the markets always close in the green. Man i love the market, kind of feels like the late 90's all over again. Keep up the great blog.

EddieFl said...

MDa has probably actually made money the last 3 weeks.

I hope you were long some oil stocks last couple days brother.