Index Watch for August 3, 2009:







Comments

Toad said…
Thanks Tony,
This by far one of the best sites for TA on the net.
Todd
August 1, 2009 at 11:31 AM
Tony.Wiltshire said…
Todd,

I really appreciate it. With so much info on the net, it's difficult to find anything "tradeable." Hopefully, I'll come up with something decent from time to time. Again, thanks and I hope to hear from you again.

Regards,

Tony
August 1, 2009 at 12:35 PM
Sean said…
Thanks, Tony! You've outdone yourself again. I asked you about your Sohu chart several weeks ago: you had the setup and I chickened out -- like a big wuss!

Sean
August 1, 2009 at 9:13 PM
Anonymous said…
Action point, I see you focussed only on claiming a bottom. VIX posted a triple top during the 2000- 2003 recession. Now where is my triple top [or atleast double top] on VIX in this recession?

The 25+ year housing bubble burst ends only in 4 quarters?
August 2, 2009 at 9:39 AM
Tony.Wiltshire said…
Ticker,

Actually, I was just pointing out that it was the only time since the bottom in 2003 that a divergence like that has ever occurred. And the fact they both did within 6 months was obviously an important event.

If you can spot another divergence like the one I posted, I would love to know when we got one. According the data I have, it's the only time the $SPX has put in 2 "lower lows" while the $VIX provided "lower highs" twice within a 6 month time frame.

Thanks for writing.

Regards,

Tony
August 2, 2009 at 11:50 AM
Tony.Wiltshire said…
Sean,

Don't fret over it. I "wuss" out all the time. As long as we have volatility, there will an abundance of opportunities to make money. Unfortunately, it's going to shrink at some point to a level where we're all going to want to quit. It's anyone's guess when that will be.

I know I say it all the time, but I feel it's extremely important to come up with a plan you can work with. I hit a lot of singles and doubles, and I never think about jacking the ball out of the park. Although I hit a lot foul balls, I rarely strike out. In other words, trading successfully is all about getting your head right, and, in my opinion, the most important aspect of surviving in this business.

Again, thanks for writing and I hope to hear from you soon.

Regards,

Tony
August 2, 2009 at 11:59 AM
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