LeveneOMurray's Blog : Market Speculations

Here is the indicator according to some:
Look for a confirmation rally (triple digit) on high volume between 3-10 trading days following a high volume bounce off the bottom. No bull market has ever occured when this has not happened.

Here is what Investor's Business Daily says:

"....Tuesday constituted Day 1 of an attempted rally for the major indexes. That means it's still premature to buy stocks.

If the market can make headway, look for a follow-through to confirm the rally. That would be a sizable gain in at least one major index in higher volume on the fourth day or later of the rally attempt.

Despite the day's gains, a degree of skepticism persisted. The put-call volume ratio was 1.21. Such a level reflects heightened pessimism among investors. Still, elevated fear often works as a contrarian indicator for stocks.

As oil prices fell for a second straight day, shedding $5.33 to $136.04, some analysts said it was only a sign that traders feared lower demand from a weak economy.

As the U.S. dollar gained against most major currencies, other experts said they don't see the fundamentals underlying the weak dollar changing......."

Uhhhmmm, the VIX needs to take out 26.91 before you will see ANY sustainable market rally. Howza bout we just wait for that? Jeeesh, I "try" and keep it "simple" for you sheeple. :-) 3J

Wow! I am overjoyed that the Joker of this site, JustJoe, the noted clown buffoon, has recorded a sell on TITN on the P&P. Just when I was starting to get worried, one of the best Reverse Market Indicators in the world, the JustJoe predictions and recommendation...otherwise just do the opposite, has helped us in the TITN play. Thanks a million JJJ.

LOL That's funny Mighty Mouth. I actually chorted TITN at 32.90 ifn you remember. The estree chort I just put up was to>>>>"Rub it in" LOL Your commentary you made when you initiated your new USO long was funny...."if" someone wants to read market commentary that is sooo rediculous it is funny that is. :-) In the meantime, let's see if my VIX number gets taken out with an Earl rally since they are STILL running in lockstep. *-) You had better "hope" I can rally USO to at least 113.50 one mo time. I'm hoping I can meself actually! *-) 3J

Huh? The VIX fell to a multi-day low on the open and is now rallying through 24.00. :o The thing that "should be" making a "GOOG trader" stand up and take notice is the fact that USO is actually trading down as the VIX is trading up. *-) We have "separation" again....you can read about that phenomenon at my list of bloggetes *-) Do we have a "failure to communicate" betwixt USO and the markets again?....OR....does this same divergence mean the same thing it did last time....which is>>>>Manny n the Nipulators are still hard at work! LOL Basically, I don't matter no way no how anyhoo. "If" you go heavy into longs before the VIX takes out my number then you are a simple sucker...Of course you "could be" back touting TITN as a GRRRRREAT play again right here.....which makes you the "suckiest" of suckers..*-) Right Mighty Mouth? :-) 3J

holy cow, this market is a debacle. bad news after bad news. still it's not over.

Increases in bad news is good news. I'm still waiting for my bearish magazine cover on the Economist or Business Week. When I see that there will likely be a confirmation rally to signal a bottom. Optionable bullish percent reversed up today, Nasdaq 100 bullish percent reversed yesterday, and the stocks making new 52 week lows is at the lowest level on the chart that goes back 10 years, so a 3-box reversal up is a clear buy signal when that happens. We are very near the bottom, mabe not there yet but washed out nonetheless. Anyone shorting now is 'fear selling' and is due for some pain.

I love JJJ, the clown joker buffoon on this site. JJJ is the greatest Market Reserve Indicator probably in the whole wide world. A complete loser, we almost feel sorry for this lunatic (as to market calls). JJJ has single-handedly turned around the play of TITN. Even through the market is heading down 200 plus today, TITN is up. JJJ is on record in the P&P of shorting TITN at 26.87 and down 3.67 pp points. Even though the market has been hammered, I'm on record in the PP on TITN at a buy at 24.88 and up 23.86 PP points. Regardless of JJJ's lies, let the record (facts) speak for themselves. Enough said on this. Onward to other topics.