Comments on: The Prop Jobs http://spiralcalendar.com/2009/03/the-prop-jobs/ Christopher Carolan on Financial Markets & Lunar Cycles Fri, 18 May 2012 09:30:27 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: LovesBeta http://spiralcalendar.com/2009/03/the-prop-jobs/comment-page-1/#comment-533 LovesBeta Sat, 28 Mar 2009 20:08:38 +0000 http://spiralcalendar.com/?p=1625#comment-533 To add to the divergence indication, except two days, the volume has been going down as this rally has progressed: http://i713.photobucket.com/albums/ww139/LovesBeta/SnPVolumeMarch28.jpg Peculiar though was the action around the 50dma (in orange circles), that had a break out look to it; But that could have been a fake move since the break out through 50dma was on lower volume than the first attempt; but not sure either way. Not useful for short term trading, and mostly reflecting Financials problems that could change with M2M accounting (could come down to 50), is the S&P P/E. But still the value could cause some people to think twice, as it is projected to be almost 200 for the second quarter. www2.standardandpoors.com/spf/xls/index/SP500EPSEST.XLS (Excel spread sheet) To add to the divergence indication, except two days, the volume has been going down as this rally has progressed:

http://i713.photobucket.com/albums/ww139/LovesBeta/SnPVolumeMarch28.jpg

Peculiar though was the action around the 50dma (in orange circles), that had a break out look to it; But that could have been a fake move since the break out through 50dma was on lower volume than the first attempt; but not sure either way.

Not useful for short term trading, and mostly reflecting Financials problems that could change with M2M accounting (could come down to 50), is the S&P P/E. But still the value could cause some people to think twice, as it is projected to be almost 200 for the second quarter.

www2.standardandpoors.com/spf/xls/index/SP500EPSEST.XLS (Excel spread sheet)

]]> By: LovesBeta http://spiralcalendar.com/2009/03/the-prop-jobs/comment-page-1/#comment-531 LovesBeta Fri, 27 Mar 2009 20:22:52 +0000 http://spiralcalendar.com/?p=1625#comment-531 This might be just for the end of quarter window dressing. I am short; However, I have been burned before ignoring price action by itself, and price seems more or less holding for now within the past five days window. I would figure price will likely hold till they are done squaring their books (NASDAQ yesterday almost had a gain for the first quarter :-) But, we could also break out just by price action; where then it would likely bring new volume. Having said that, I am with you Chris on the toppiness of the action, specially in the context of the overbought situation. This might be just for the end of quarter window dressing. I am short; However, I have been burned before ignoring price action by itself, and price seems more or less holding for now within the past five days window. I would figure price will likely hold till they are done squaring their books (NASDAQ yesterday almost had a gain for the first quarter :-) But, we could also break out just by price action; where then it would likely bring new volume. Having said that, I am with you Chris on the toppiness of the action, specially in the context of the overbought situation.

]]>