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One never knows what's going to happen on a daily basis, but I get the feeling that tomorrow could be a HUGE counter-rally day. Like a 100 or so NASDAQ points.
Decisions... decisions....
Watch F (Ford) for a trade: It's going to put in a new bottom. Current bottom is 1.80
Trading at 1.90 and still has plenty of room to drop before it's oversold, imo.
IMO, no way does the gov't let one of the "big three" fail. Chapter 11 for just one of those companies means an additional 2.5 million added to the un-employment line.
No way will Bush allow that to happen. No way will Obama allow that to happen.
Bail-out on the way, imo.
IMO, it's way too early to buy DDM. LOTS of room to the downside before a turn.
And, to me, EEV has a LOT of room here to the upside.
Maybe this is the week we put in a new bottom...? Time will tell.
But, watch Wed., we may have a huge "counter-trend" move. Options expire next Friday.
I really wish we'd just go down fast and hard now, to NASDAQ 1407 and be done with it.
But I have my doubts....
Hey 'ol buddy, I joined you in EEV. Avg price: 78.09
Wish me luck! :~)
Lots of "whipsaw". How Monday play's out is anyone's guess.
Futures are up this evening.
301. It's hard to tell, because EEV is less than 12 months old. But, I'm comfortable with a target of 301.
Timeframe? Don't know, but I think Nov. 2010 is a good bet.
Before it's all said and done, EEV's going over 300. I'll run the numbers tonight and post them. But, I ran them once, and I believe the figure I came up with was well over $300.
It's due for a pullback, though maybe not til Monday or Tues. That would, imo, be a great time to re-enter.
PLENTY of room on the weekly chart for more upside. And, quite a bit of room on the monthly chart, too.
Nice trade.
Looks like DTO is in a parabolic up trend. Barring Isreal taking out Iran, crude is going to hit $40/bl sooner that even I thought.
Hell, I was looking for $85 by Christmas 2008. And, as everyone knows, we've far exceeded that level already.
I really believe Isreal takes out Iran before Obama takes office.
During the summer, rumours were flying that Isreal wanted to wait until after the elections, but before the new president took office, to strike Iran.
I think one could do VERY well shorting the Obama presidentcy. Here are the closing numbers on election day (Nov. 04, 2008).
NASDAQ 1780.12
DJIA 9625.28
S&P 500 - 1005.75
Hold til the mid-term elections in 2010. If Republicans can re-gain control, there probably would be a nice 6-12 tradable rally.
If not, stay short the final two years of Obama's presidentcy, until the Nov. 2012 election date.
BOOKMARK THIS POST, NOW!
1586.13 is the level the NASDAQ looks like it's falling to (at least). I'm still looking for 1407, though, fwiw.
BTW, that 1586.13 is a gap on the 5 min chart.
A profit is a profit, no matter if it's on the long side or the short side.
I just try and take what the market wants to give. I missed the 12.5% run off of the bottom. I'm still looking for 1407 on the NASDAQ.
Today's just one day. This could be the start of the "re-test". Or, maybe not. We'll see.... :~)
17.5%? Are you kidding me? I'm jealous! :>)
Nice dude! The market's only been open 7 min and already you're up 9%! :~)
SKF looks good here, too.
Glad I can help. :~)
More QID @ 60.08
I just noticed an open gap on the daily chart at 60.25
DTO: There's an open gap at 58.69, and the 50% re-tracment level is 56.13.
Idealy, 56.13, or better, would be the place to buy. The rsi would probably also be a screaming buy at that level, too, I'm sure.
No, just got home and saw 75 was taken out. Also, DTO lookin' good for an entry.
I try and trade using an RSI indicator.Neither of those two stocks are telling me it's a "buy" yet. Though, they could reverse and go up.
Seems like I always get burned if I don't stick to my method. :~)
EEV looks tempting here around 80. 75 looks to be a great place for an entry. Let's see if it can hit 75 today, or better. :~)
Holding pattern....
I sold F and UYM and still hold QID, fwiw.
I'm watching the re-trace. Still lots of room to go before I'd call the bottom in already.
Time will tell..
Earnings tomorrow after the close.
Cort,
EEV closed that gap in the 110 area. Looks like 103.45 is the next stop before a nice run-up, imo.
I think we'll see a sell-off after the fed meeting, bwdik...?
I'm still hedged. Long UYM and short via the QID. Also, long F.
That EEV is a wild one. Watch it fill the gap at the 110 area today.
I think hedging your moves are a great thing in this market.
Are you playing this as THE bottom...? or A bottom...?
I guess that's the $64,000 question, eh...
I see it as short covering, anticipating a Fed rate cut tomorrow.
Here is my analysis of the NASDAQ:
Today's rally stopping @ 1719 (.236 re-trace level)
3rd wave down completed @ 1407
4th wave up to as high as 1974
5th wave down completing @ 1266 (.618 x w3)
For the S&P 500, I'll just say a 3rd wave down would stop around 605.
The DJIA I'll just post a "babyboomer low" as 3841 (at least!)
I'm just posting this so I can bookmark it for my own reference. Beats having another piece of paper laying around that I don't need. ;~)
Bought more QID. In @ 68.68 eom
ahhh, o.k., now I remember...
We may rally for another day or two, but I don't trust this rally.
Everybody seems to be real jazzed up over today's action. Been there. Done that. Don't want the T-shirt. lol!
I thought you were in at 15....
If CHK breaks 17.47,it will probably go down and challange that low @ 11.99.
Just something to keep in mind. ;~)
O.k>, thanks. The markets were closed an hour and 20 min. when you posted that. That's o.k., no biggie.
A little re-bound today: 18.81
Are the markets opened where you live?
I've got 17.65 as the closing price on CHK and no quote for after hour trading.
Just a thought: Is NAder on your ballot in NY?
Remember, a vote for Nader is a vote for McCain! lol!
Fletch, the problem I see with gold is, it no longer backs the US dollar. If it did, gold would probably be over $1500/oz. by now, at least.
If gold can't move in this kind of enviroment, when can it?
The dollar's strenthening, because when the world starts to fall apart, everyone runs to the shelter of the Good Ol' Mighty USA. :~)
What I know is, 70% of gold is used to make jewelry and those people aren't buying.
Also, from what I understand, governments around the world have been selling it to raise cash.
IMO, FWIW,
df
the Arabs are helpless. they all hate each other and "cheat" anyhow.
Crude to 25 I say! 15 is possible, too. :~)
In at 77.83...
cancelled the 78.05... looking for a better price. that happened too fast..