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Actually, if we break much below 34 on SMH I might be able to get them back for .10-.20 and that would be fine. Lather, rinse, repeat ..
BTW, look at the premiums paid for NEM's call options vs. SMH's. SMH actually broke out, NEM is still largely broken, yet NEM is attracting larger premiums. By quite a bit actually. Interesting.
I think you call play is more than possible to happen. IF we are to turn over for a month or so then the downside is likely limited.
Ya I have been watching that and don't count it out as happening. Especially since as usual we didn't get exactly the prints that I wanted on some of the charts.
That was a pretty good sell signal. Tell me what you think of an inverse H&S set-up on the $COMPX daily? As long as we stick near 2000 on this decline, 2100-2125 could really blow the doors off. Target of something like 2300.
Well, I'm not sure I'm happy you think we're going that low again or not. I will pick up some SMH down there to be sure, but of course my core will decline in value. Hedges only work so far. Ah the conundrum. :^))
I'm looking to buy SMH at 32.50 and 30 ish. Evaluate as we get there. Of course, a perfect world would allow be to buy back my calls almost worthless and then re-write them on another run at resistance. Is that asking too much?
$BXM will give dual sell signals today, last time there were similiar signals about 3-15-2005.
Over time yes I would say so. See the candles on 4-29-2005, 5-11-2005, 6-15-2005 for downside targets of interest and the candle made yesterday 6-23-2005 will be a target to at least partially or totally cover at some point. Thos things take some time at times to satisfy but they usually always do. Just like magnets . gg The candle on 4-29 is the 375-376 target.
NEM sure is having trouble with $40. But, the way it's hanging around there, there might be some excitement left. Who knows?
I am buying QLGC on a new low. Hopefully around $27. I don't think we're going to see 21 again. Not with $9-10 in Cash.
Did this old $SOX chart nail it? Will we go down to around 375 now?
http://stockcharts.com/def/servlet/SC.web?c=$SOX,uu[f,a]dhcayyay[dd][pc10!c20!c50!c200!b200!d20,2!i!...
Ya, maybe. To retrace back to the breakout point.
$bxm (buy write index) chart on prophet will most likely give multiple sell signals tomorrow, so it would appear we be on the weak side for at least a little while. They will likely hold it up thru the eom for the funds and bonus checks. g
Looks like if 1197 is touched that 1190-91 better hold or some bulls gonna be uneasy for a bit. Right now it appears that 1190 is where we might be headed.
http://stockcharts.com/webcgi/Pnf.asp?S=$spx&Y=U&B=7&N=A&C=2
well above that I would think , it might be a 12-24 month deal. If 11,200 is ever hit on the dow then that's is where we are headed I think.
That's another purdy chart.
One thing that really scares me is if that's just the way it is now. I'm talking in terms of volatility. Maybe we just can't get going either way. LOL.
Where is the DOW going to top if we hit +2100. 12,500?
Gt I am trying to look and see if we have a big picture on the nyse or just a billfold size. g Think about this on this pnf chart for a moment and both bear watching in my view for a bullish and bearish outcome.
http://stockcharts.com/webcgi/Pnf.asp?S=$NYSI&Y=U&B=140&E=on&N=A&C=2
I think if the $nysi hits for any reason a 1260 level off of this run we are in now that we will break the june 2003 high and likely the next level that the $hysi tops out at will be in the 2100 area.
On the otherhand if on the next dip if -560 is hit then I think the $nysi goes down to take a peek at -1400 area.
Either one of these breaks will likely be very powerful. Of course as large as the triangle pattern on the pnf chart is on the $nysi it could trade between the lines until it narrows down to have to make a decisive move.
Actually, I am sitting here surprised at how many people are up in arms at a 25 point swing in the Nasdaq. Or a couple percent in the DOW. Man, everyone is so complacent.
Hopefully we can get a good correction going, but really, I haven't seen a thing that would indicate a longer term top. Is the NYSE that weak? (as evidenced by the $NYSI)
lol ok so maybe we get a hard reversal day today on the $nysi . My choice would have been for the 840 to print. I guess it depends on the volume today as to whether or not it turns down some, after all we're only 28 points away from 840 so likely we will make a stab at that again before it rolls over IF it rolls over.
I am kinda surprised at this little breakout on SMH, but really, the broader markets are still just flat. I am not finding anything worth buying, myself. I think we'll have to get the $NAMO and the $NYMO into oversold territory again, before I want to go long anything more.
$nysi creeping up to decisionland after today likely. It very well could print the 1000 area but if that is a top then this churn trade will likely mean that there is no urgency to return to this level anytime soon. Nasdaq may be a different story, picture not quite as clear there.
i have been kicking myself that I didnt buy the dip under 10 as i was talking to the in law the day of that dip . OPIE may be right about 20 but believe me they have lots of problems and I definitely know there are trapped fund managers above that . Just dont think a consumer products company can make that kind of a turn around in this environment. the fullness of time will tell the tale . take care Geoff
OK, I'll watch it. It seems overbought at res. but you're the one that knows this one inside out.
I just bought some with a stop. This may be a long term hold see the huge naked top overhead up to 24ish.
http://stockcharts.com/webcgi/Pnf.asp?S=CRY&Y=U&B=.7&N=A&C=2
You think buy it here. It looks right at resistance. you think 8.68 or 9 to catch the breakout?
Looks like it's time to buy our ole buddy CRY.
I think the final bid will have a 2 in the front of it. It may be only $20 but nevertheless I think a 2 will be there. I wouldn't be surprised to see another bidder yet come to surface before the year is out. I have heard that some funds want in the neighborhood of 24 for a price.
Low/mid 20's would be great. But, for QCOM to shed another $10 there's gonna have to be something major wrong with it. I have been hoping for $30 for a while now. As we step into the second half of the year, QCOM hits it's year-end ramp time as people look to build inventories for the Christmas season.
I would be very happy if they warned instead. :^))
The summations are setting up for a powerful move one way or the other very soon I think. The rise on up days is small while the rise continues on down days to a small degree. It's like they know they are at stiff chart resistance and are undecided of what to do. g I would pay a lot of attention to a hard down day this week or early next week.
I still think it heads down to the low 20's. I think the daily is a headfake and churn might be the word.
QCOM Inverse H&S potential? Hope I'm wrong and it goes to $30.
http://stockcharts.com/def/servlet/SC.web?c=qcom,uu[f,a]dhclyyay[dd][pc10!c20!c50!c200!b200!d20,2!f]...
Apparently, someone doesn't like Maynard's new raise. :^))
Hey smag. I don't have MYG but know a few that do. The bidding war has been nice, as it shows there is real value there. Where it stops, I have no idea. But, the chart pattern is interesting.
Brother-in-law is maytag product manager gt.spends a lot of air time between china and newton with haier group.out sourcing manufacturing $17.00 is top for bidding war imho.too many union problems to overcome .its hurting sales bigtime no where else to reduce costs except the labor. again my humble opinion.
She's pretty overbought and hit the 200 day sma right smack on the tail today. But, if one wanted to, he could call that daily an inverse H&S. Bidding wars are OK things to be caught up in.
http://stockcharts.com/def/servlet/SC.web?c=myg,uu[f,a]dhclyyay[dd][pc10!c20!c50!c200!b200!d20,2!f][...
Interesting as I almost have multiple weekly buys on MYG. Likely they hit tomorrow thru monday.
Did they have news yesterday? Strong move. SGP. Maybe it's time for a little rotation. The weekly chart looks pretty good on it.
yup nem goes higher I think. Also SGP , unless it rolls over today or tomorrow will issue multiple daily buy signals. Whazsup there?
Nice set-up on NEM with the 65 min. turning up from oversold on Stochastics. Maybe your 42 will come into play here soon.
Ya, it's up and running now. Well, maybe not running.
I see trades on IB 7.45 last
Ah, here it is. Stupid YHOO beats out HArrisDirect and MyTrack. LOL.
AP
Krispy Kreme Officers Resign, 1 Retires
Tuesday June 21, 10:21 am ET
Krispy Kreme Directors' Committee Determines Six Officers Should Be Fired; 5 Resign, 1 Retires
WINSTON-SALEM, N.C. (AP) -- Doughnut maker Krispy Kreme Doughnuts Inc. said Tuesday that a special committee of the company's independent directors has decided that six unnamed company officers should be fired. Five of the executives have resigned and one has retired.
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Krispy Kreme shares were recently halted for trading, having closed Monday at $7.67 on the New York Stock Exchange. The stock has steadily declined from its year-ago high of $21, hitting a 52-week low of $5.05 in February. Shares are down about 39 percent so far this year.
The company said the six officers include four senior vice presidents and were in the areas of operations, finance, business development, and manufacturing and distribution. Krispy Kreme intends, for the time being, to fill these positions with existing personnel.
The company's special committee is continuing its investigation. Krispy Kreme said it is cooperating fully with the U.S. Attorney's Office for the Southern District of New York and the Securities and Exchange Commission in their respective investigations.
Last fall, the company formed a special committee of independent directors to examine whether earnings should be restated. Krispy Kreme also has been hit with several lawsuits, including one that alleges workers lost millions of dollars in retirement savings because executives at the company hid evidence of declining sales and profits.
In addition, the company faces a criminal inquiry by a federal prosecutor in New York and an investigation by the SEC into financial irregularities.
Last week, Krispy Kreme said it will miss a deadline for filing financial results for the first quarter that ended May 1, and expects to post a loss when it does file the report. In a filing with the SEC, Krispy Kreme said it was unable to file the quarterly report because of the ongoing internal review of its accounting practices for fiscal 2005 and earlier years.
Dunno, I just saw the news flash about the officers.
Thanks plugger. I didn't see anything. Is there some sort of halt on it?
There is news KKD- Six officers to be removed.
Nice chart OP. I was wondering about the $NYSI myself, but never thought to use your boxes on it. The thing we could do is just keep churning higher until it hits that PnF res. to the +1000 area and set a multi-month top right here.
$NASI has much more room, but I don't think it will beat to its own drummer if the NYSE has topped.
I see MYG is getting more bids. You see KKD. No trades, options not open. Is that a liquidity problem? LOL I see no news, and it doesn't appear to be a data problem.
This reaches either the area of an attempted breakout or a roll over this week. My guess is that the $indu will print the 10,720ish on a final gasp OR it reaches 11,200 on the $nysi breakout and the market roars.
http://stockcharts.com/webcgi/Pnf.asp?S=$Nysi&Y=U&B=140&N=A&C=2
Volatility? What's that?
We're getting closer to oversold again, and we haven't moved much at all. Hope they hit us soon. Can't load up at 2100.
NEM finally looks like it topped. Until tomorrow anyway. :^)
My Bonnie lies over the ocean: My Bonnie lies over the sea: Oh bring back volatility to me: g Shortened version gg
QCOM looks like its going to have nasty earnings too. I think I might buy both if they get hit.
We'll see. I still think $40 is a tough resistance. That's where it was when earnings came out and killed it. I'll keep writing calls on it until it drops again.
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