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Boss I wonder how this chart was during 2008-2009, especially those big dead cat bounce?Cobra wrote:Smart money buying a lot so according to the case 2.), this is a good sign. However, the buying still is not huge enough (I prefer it touching or at least near the green line above) so probably still some room on the downside.
How I use the chart:
I don't care what's the logic behind the chart. I found it works in the following two cases:
1.) When market up huge, if I see smart money huge short, best if new record short, then I know a short-term pullback is due soon.
2.) When market down, if I see smart money suddenly rises sharply from very negative value, then I know the pullback was over.
So I only use this chart for the above 2 cases. Besides those 2 cases, it means nothing to me. i.e. the absolute value of this chart means nothing to me, I only care if it rises sharply or drops sharply.
josephli wrote:Boss I wonder how this chart was during 2008-2009, especially those big dead cat bounce?Cobra wrote:Smart money buying a lot so according to the case 2.), this is a good sign. However, the buying still is not huge enough (I prefer it touching or at least near the green line above) so probably still some room on the downside.
How I use the chart:
I don't care what's the logic behind the chart. I found it works in the following two cases:
1.) When market up huge, if I see smart money huge short, best if new record short, then I know a short-term pullback is due soon.
2.) When market down, if I see smart money suddenly rises sharply from very negative value, then I know the pullback was over.
So I only use this chart for the above 2 cases. Besides those 2 cases, it means nothing to me. i.e. the absolute value of this chart means nothing to me, I only care if it rises sharply or drops sharply.
Thanks Cobra, I was referring to the commercial hedger chart. Any chance that you have those?Cobra wrote:josephli wrote:Boss I wonder how this chart was during 2008-2009, especially those big dead cat bounce?Cobra wrote:Smart money buying a lot so according to the case 2.), this is a good sign. However, the buying still is not huge enough (I prefer it touching or at least near the green line above) so probably still some room on the downside.
How I use the chart:
I don't care what's the logic behind the chart. I found it works in the following two cases:
1.) When market up huge, if I see smart money huge short, best if new record short, then I know a short-term pullback is due soon.
2.) When market down, if I see smart money suddenly rises sharply from very negative value, then I know the pullback was over.
So I only use this chart for the above 2 cases. Besides those 2 cases, it means nothing to me. i.e. the absolute value of this chart means nothing to me, I only care if it rises sharply or drops sharply.
Yah well since its a daily count I wouldn't use the weeklyuempel wrote:DellGriffith, you are talking about daily BB, right? In 2008 weekly BB 20/2 didn't hit the upper band for over a year - May 2008 until August 2009.
Yes dandruff wars saw head and shoulders win , given few support levels between here and below , it is possible H s plays out and we slide..but think oversold levels long in tooth...DellGriffith wrote:What I find interesting is that, the longer these streaks go, the more BEARISH traders seem to get. We're on day 49. There's serious danger of a huge relief rally at any moment now. Yet, traders are more bearish than ever. They seem to expect things will tip over NOW, on day 49, to SPY 1600 or something. I've seen those predicitons. That's like saying things are worse now than they were in 2008. That seems silly to me. I loaded up on calls instead and I think its the right move. My soul is ready.