Tuesday, December 11, 2007

Late Note

For those who follow Worden Brothers ( I use the data feed and charting for the linear regression studies, which I am unable to find otherwise displayed as clearly as on TC2005), all indicators for the major indices (SPY, DIA, QQQQ) in all time frames are now DOWN (that's bearish). I've been with Telechart since 1987, in all it's iterations and consider their comments about 80% reliable. .for what it's worth. If you still have a bullish bent . . just beware that you don't let HOPE over rule your reason. Always have an escape hatch ready, especially in these unique times.

2 comments:

contrary canary said...

What is your argument, my friend? That the bull market is done? Because I'm afraid that is going to be a very difficult long term position for you to have...

bzbtrader said...

I'm not trying to make an argument, just to share the latest Worden prognostications. Today's action was uniquely virulent and unlike previous FOMC responses in that there was no ambivalence about the force or direction of the reaction. That singularity may be indicative of more to come. If you've followed my posts for a while you know I tread the path lightly and prefer to hedged, whether a long or short bias. My point was simply a cautionary one....obviously the market moves in cycles and my concept of a cycle is in the range of 90 minutes to 2 weeks . . which is how I choose to manage risk. Some very savvy traders that I know believe that new highs are only weeks away, and they may be perfectly right. Only time will tell.