Thursday, November 08, 2007

SPX Buy Pressure High

Grouptation, this is my name for what Wall Street call group rotation. OK look at the group strength table and see notable events, CHINA and BRAZIL ( Part of BRIC) are beginning to inch to sell from low to high( look at the progression of the average) and the Brokers now occupy the place that used to be the "HOME" for BUILDERS ( how appropriate), the upper part of the table where sometimes perennial buys ( Builders, Newspapers) rot for a long time, Brokers Now and Next?





Dear Readers, This sell off has created a high Buy Pressure in SPX, but I do not want to jump the gun here. Markets are will be volatile and will go down only reluctantly, cause money is easy and people are not in a hurry to depart from stocks/gold/oil, you name it. It is better than holding $US, I guarantee you that! So, let the markets come up a bit if they want to. I am not a buyer at this time even though it can be played from both sides.

6 comments:

john said...

Boris,
For a few hour day trade?
old john

boris said...

Dear John, Maybe... -:)

Good Trading

john said...

Boris,
As usual , I am overly cautious and careful,
thanx
old john

john said...

Boris,
looked at the charts and dailyfx- the yen is now back
old john

boris said...

Dear John,
Indeed, all morning for me and night for you , indices were pressured by YEN hovering low, but it has come up and that caused the indices to turn positive.

Absolutely my friend.

Good Trading

mlytle said...

Hi Boris,
I just sent you two jpegs of the trendline charts..up to date..
I did the charts when the $SPX was at 1467.59 they are a little lower now...

Regards,
Mark