iCharts Discussions

SwingTrader · Posted: Sun Sep 30, 2012 4:41 pm Post subject:

Long Term Sentiment has now reached a high it had not reached since almost 2 yrs. This is very encouraging. I will look to add more long term positions gradually as long as this strength stays consistent.

Options sentiment, which is a short-to-intermediate term indicator, is getting nearer to a sell signal which means we could get a pullback soon. This would be a good point to add to long term positions and also an opportunity for short-term trades.

iakash · White Belt Joined: 07 Mar 2012 Posts: 46

Dear ST,

Congrats for your 2000th post

groupwave1

Keep the good work going thumbup1

pkholla · Black Belt Joined: 04 Nov 2010 Posts: 2890

Dear Iakash, If you dont mind, please congratulate ST for the QUALITY of his posts rather just than number of posts. He has consistently given us excellent feed based on his observations of the market
Thanks ST. Please continue enlightening us
Prakash Holla

SwingTrader · Posted: Mon Oct 01, 2012 9:22 am Post subject:

iakash, pkholla,

Thanks!!! Very Happy

iakash · White Belt Joined: 07 Mar 2012 Posts: 46

Dear Pkholla,

Thanks for ur suggestion... but with ST's posts, quality goes without saying... isn't it?

SwingTrader · Posted: Sun Oct 07, 2012 8:47 am Post subject:

Long term sentiment continues to be quite strong. Options sentiment which indicates short-to-intermediate term trend is at bullish extreme, its signal bands are contracting fast. A pullback is being indicated in the near future. This pullback may be a good opportunity to build (or add to) intermediate to long term positions (my long term is never too long, only as long as long term sentiment continues to indicate upside).

NSE stocks avg one month vs three months % changes chart too is indicating continued bullishness. The 1 month avg % change line has negated the earlier divergence and has broken above previous high while the 3 months line continues its upward move.

vimalmehta · White Belt Joined: 07 Apr 2009 Posts: 20

Hello ST
Have been following your sentiment section for a couple of months now and find it the most useful place on the whole forum...

since you were talking of overhauling the breadth charts page may i make a suggestion...In addition to the nifty one month three month % change, could you add the equivalent of the McClellan oscillator for our markets. it is one of the most widely used indicators among US technicians and serves to act as a lead indicator. I assume you are aware of it...this page defines the construction http://stockcharts.com/help/doku.php?id=chart_school:technical_indicators:mcclellan_oscillator

Also I wonder if it were possible to introduce the 'discuss' platform for the forum discussions. Much better layout as it removes the repetition of each previous reply in a post again and again. This makes for longer discussions. You can check out the blog at 'http://danericselliottwaves.blogspot.in/'

Thanks anyway...great job...Vimal

SwingTrader · Posted: Wed Oct 10, 2012 9:04 pm Post subject:

SwingTrader · Posted: Wed Oct 10, 2012 9:11 pm Post subject:

Options sentiment close to giving a sell signal. A down day tomm and the sell signal could trigger. I will look into buy some puts but will be looking out for strength coming into the market in the near future. If any decent strength comes in, I will convert the puts into a bull put spread. Let us see...

I am hoping we consolidate instead of going down too deep as I have iron condors position....I always have iron condors on (they are my sideways range profiting position). These puts that I am buying (once sell signal triggers) are for my trend position.

Interesting point to note is that the last two sell signals have failed to generate significant profits (Jul 23rd and continuation sell on 27th Aug), could be an indication of the underlying strength of the market. It would be interesting to see what kind of move we get after this sell signal.

SwingTrader · Posted: Sun Oct 14, 2012 4:30 pm Post subject:

No sell signal from options sentiment yet. But I feel we could go significantly lower (short-term) if the recent lows (around 5656) break.

Long term sentiment is holding up well as of now so things look bullish for medium-to-long term.

I don't like the action on the third chart (NSE Avg percent changes - 1 month chg vs 3 months chg). The 3 months avg percent changes do not reflect strength. This could be indicating lower near-term prices. Will have to monitor this closely in the coming weeks. We have to see...

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

ST, I am not sure whether it repeats every 3 months but your onservation on 3 month av % change could be because market goes into a shell during quarterly results.

SwingTrader · Posted: Sun Oct 14, 2012 6:52 pm Post subject:

SwingTrader · Posted: Sun Oct 14, 2012 6:58 pm Post subject:

NSE PE vs CE Avg option premiums chart.

Premiums have stalled too....consolidation or correction?

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

aah, this surely gives a better indication