Thursday, December 27, 2012

Thurs Dec 27

fiscal cliff fears;

/tf  +/13%

DECK   blasted off  +7%  -- finally

DECK has  a lot of call buying at the offer --   big name is buying.  

advn-decn -900  ....

/tf blasted.

long tail  candle here though 5 min.

need more of a base -- too much damage, signals too weak for a sharp bounce entry.

long tail negated - new lows.

-1031 advn-decn.     fear...

stall but -1075  advn-decn  suggests - break to downside.

difficult to look for fib bounce with heavy sell signals.

-1200 advn-decn -- keeps you out of longs....

advn-decn -1300  no buyers.  no base to work with. 

-1400 advn-decn --  heavy TICK.   doesn't take a genius to see which way the winds blowing today.

see a lot of bottom fishing longs... but these early longs are exactly why the pullback keeps pulling... the last sellers are the most bullish... see?

-1600  advn-decn

/es  drops 1400.  
Dow under 13,000.

-1649 advn-decn   /tf 825   harsh.   -1.2%
Dow -137

broke 5 min  TL --   advn-decn - slight improvement -- could be a 50% intraday bounce -- which would be around 50 ticks today.

TICK improving.

if we bounce  (after 4 days down) -- will require a multi-hour base at least still early, but bottom may be in.

sold  /tf for 15 ticks paper.  -- first fib level.

/tf - bounce was to 38% fib level (2nd fib) to the tick - and fast pullback  - perfect if you use fibs.

bounce  end of day -- back to breakeven -- was out...    triple bottom before the ramp on 5 min chart -- clear as day.   Top was the 78.6% fib -- to the tick.  Talk about fib levels!

advn-decn - almost at ZERO  from -1600 lows... !!!

Triple Bottoms are still major strong signals and are worth entering.  

/tf  slight pb   AH to 61.8 fiblevel.    833

/tf: fiscal cliff rumor create dive and rainbow rally

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