Week of 10-10-2005: Bull or Bear?

[ForeverInvesting]

Let your market opinion heard!!!!! Vote in this week's bull/bear poll. One of beasts has to win.

October 7, 2005 Close:
Dow: 10,292
Nasdaq: 2,090.35
S&P 500: 1,195.90

[skiracer]

I'm not forecasting a rally but all the markets are definitely oversold right now. So I would be looking for a bounce on Monday. Anything after that would have to wait until we see what actually happens on Monday.

[dmk112]

Bull in the beginning of the week, bear at the end of the week.

[skiracer]

This was from yesterday on Briefing.com's Swing Trader report.

[skiracer]

This from Briefing.com's "The Technical Take" column posted after the close today.

[ForeverInvesting]

Thanks for the reply, Skiracer. I am also looking for a bounce early in the week, but gets sold at weeks end. Remember next week is option expiration week so it probably will be more volatility. Maybe option expiration played a role in this week volatility too.

[New-born baby]

This year's grief

What exchange has had the best year? It has the stocks who hold their value better than any other exchange. The AMEX. If you doubt that, compare the bear market that brought the Naz down 90%, vs. a 28% drop in the AMEX. Here's this year's stats for all US exchanges:

[ForeverInvesting]

Nice chart, New-born. It does not make one think the market is on the verge of a major bull run. Can you say range bound!!!!!!! I think we may test the lower ranges of this year in weeks ahead.

[Runner]

I’m in the Bear camp right now. I do think next week we will creep up some more and this of course will be met with equal or greater forces in the opposite direction..

But you all know the drill we shall see what the good old market wishes to do!!

[RL]

I'M probably not the one

to give an opinion however I see no reason for the selloff but It was a great time to sell some and buy back today. This next week will end up In the BULL camp [I think?]

[ForeverInvesting]

The following chart gives a broad perspective of the NASDAQ. The chart was created by Dr. Joe Reed. Dr. Reed has a public chart list at Stockcharts.com. He is usually very accurate with his market analysis. Obviously, Dr. Reed is bearish right now. If anyone wants to check out his charts, then go to the following site.

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID648573

[skiracer]

Forever,
I've been a subscriber to Stockcharts extra for a couple of years and never once went into the public charts area. Great idea. Thanks for bringing it to my attention. Some real good info and food for thought.

[ForeverInvesting]

Skiracer, not all of the public chart lists are worth looking at, but few are pretty good. Check out Robert E. New's public chart list. He has some pretty good swing plays and his daily no spin market analysis is pretty reliable. For your convenience, the direct link to Robert E. New's public chart list is as follows.

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID897936

[skiracer]

I'm always looking an will read almost anything that may give me an extra tip or edge in all of this. I've only had a chance since yesterday to read a little of Dr. Joe's. Pretty interesting stuff. Thanks.

[ForeverInvesting]

Skiracer, your welcome. I like the public chart lists since they give varying perspectives and it is up to the viewer to decide what perspective fits their style. One has to have open mind, and do not let their emotional biases get in the way of rational thought. Trading is tough enough without having to deal with one's emotions.