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BTW,I also "accidently" bought Ford. There was an open order I forgot about that got filled. I'm in at 1.94... wish me luck!
I'm missing something... are you saying STP has a price/earnings of 1?
I'm seeing it's more like 13...
that was a nice re-bound. I'm hoping it last so I can get my QID filled at 78.05 :~)
O.K., here's my plan:
I'm looking to hedge my UYM play by buying the QID. I believe the NASDAQ's going to 1407. In the meantime, if a big rally happens, UYM should do well.
My order for QID sits @ 78.05GTC. Let's see if it fills by tomorrows close.
As usual, I can only watch for a limited time on Fridays, if I'm lucky. :~)
LOL! Anyone going to plow their 401k back into the markets today?
NASDAQ 1407 here we come. I just pray it stops there.
Actually, POT looks like a great entry here. Though maybe this time, we should buy the kind you smoke. lol!
FWIW: CHK charts are telling me it's a buy on the daily and the monthly. HOWEVER, the weekly tells me it still has quite a bit more room to drop.
I'm watching it. I see they release earnings on the 30th (next Thursday).
The only problem I have with CHK is, they aren't profitable. So, I don't know if you can expect an up-side move on the e release.
This is a market like none other in history. We have the financial mess and then we have a radical who is supposedly leading in the polls.
Absolutly. I have one position. It's getting killed: UYM
I may add some more today since it's getting slaughtered.
It's really oversold on the daily, weekly and monthly charts.
How do you guys plan on playing the election? I believe if McCain wins, we'll see the biggest one day gain, percentage wise, in the history of the markets.
If Obama wins.... we'll I don't want to go there....
My understanding of today's sell-off was due to a couple of hedge funds selling to raise cash.
I guess there's still people wanting their money back.
POT's a good buy here. The fert company, not the drug...lol!
Well, I don't think you'll see a collaspe of natual gas on the same scale as crude. Nat gas MAY go as low as 5, but I think the $6 area is more likely. The price of nat gas has been more stable than crude.
jmo,
df
Just a thought: Concerning the drop in crude, we'll see an over-reaction on the downside. Just like the one we saw on the up-side.
So, since I'm looking for $40/bl as fair market value, I think it's very likely we could see $20/bl.
I don't have a time frame, but, if pressed, I'd say 12-24 months.
Would love to see crude go back to $80/bl so I could pile into DTO. :~)
I'm kicking myself for BUYING UYM, so soon.
You may be right on CHK, but if it just re-traces back to 19.96, that'd be a good place to start a position. And 19.96 is very 'do-able'.
SBAC looks to me as if it has more downside before a good upside movement. 16.50 looks do-able.
But, this is just the way I trade. I look for extreme oversold areas and try to enter before a good 'pop'.
These readings I listed are from looking at the dailies.
The monthlies say they're buys. The weeklies, show they could continue more to the up-side before pulling back.
This market is REALLY volitle, as we all realize, so it's rough trading.
On one hand, I feel like I made a good entry on UYM. On the other hand, I don't think the lows are in, so and position I take makes me a little nervous.
Just took a small position in UYM. My favorite rsi combo doesn't back-test as well with UYM, so I feel as if I'm trading this one a little in the dark.
We'll see what tomorrow brings.
That was quick! I'm eyeing UYM. Seems to be in no-mans land.Waiting for it to get closer to the low.
And of course, I'm watching CHK. Looks like a pullback is happening. ;~)
Thanks for the article. Looking for a pullback starting sometime tomorrow.
CHK's had a nice run and looks like it'll give back some of its recent gains. Could happen tomorrow.
I think this is a market where you have to (to steal a phrase)"buy the dips and sell the rips".
I sold my two long positions this morning around 10:15 and I'm currently in cash (again).
CHK looks attractive here recently. Wished I'd had noticed it at 11.99
Why not DBO? 2X crude. http://finance.yahoo.com/q?s=dbo
In at 68.51
I like POT (Potash) @ 68.70 if it gets there. Anyone think the world will stop buying fertilizers?
And options expiration tomorrow. Oh boy!
Anyone watching the price of crude? Down to 70.08 today. Yes, 70.08, not a typo.
And to think awhile ago, I would have been happy to have crude at 85 by Christmas.
Ford: As low as it went today (1.88) and closing at 2.05, it's still not oversold on the monthly. It could close lower at end of month.
I think this is a good one for a pop. Ready to go on the daily and weekly charts. I'll be watching for weakness on Monday.
Unfortunatly, I couldn't watch today.Only able to "check-in" today between 12:15 to 12:40. :~(
I think you're right. :~)
I have Apple as going to 51 on this leg down. And that's only for a wave 3 down.
Then you have an upward 4, then a final 5 wave down. Haven't figured out the 5th wave low yet. Let's see if we get near 51. :~(
yeah, I don't know anything about options, puts, calls.... I'd be getting into something I really don't know and that's a good way to get burned.
That happened to me in Forex trading a few years ago. I set-up and traded a practice account and did great. Lost my ass on the real thing.
Makes me wonder if the practice account wasn't bogus information being fed. You know, kind of like in the movie The Sting, lol!
I've got my eye on Ford as a trade, but even at 2.08, I got to say, it's going lower.
I think, though, it could make a nice trade.
Anyone think GM and F would file for bankruptcy?
using elliot wave, I get 7380 as a bottom... but the U.S.A. is a totally different place since the signing of the so-called bail-out plan.
Now there's talk of the government taking control of even the good back....
Here's what I wrote a few hours ago:
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25048030
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25048078
who needs a commie in office like Obama when you've got GWB in office.... what an a-hole he turned out to be..... please excuse the political rant....
Sold my last position this morning. Now 100% cash.
Waiting for a monster rally to short, or a major flush-out to go long on.
BTW, for this leg down, I have 1408 for the NASDAQ.
This reminds me of the OPPOSITE of spring 1998. Instead of waiting for the pullback that never happened, everyone's waiting for the big rally that never happens.....
Fundamentals, technicals, nothing matters in these markets.
My short term indicators have been a "buy" for a week now.
Sideline's where it's at.
The baby's being thrown out with the bathwater, imo.
Hedgies are getting murdered. Everyone wants their money back. What's left of it, if any. Hedgies have to liquidate.
BTW, now I hear eveyone talking about 8-9% un-employment. When it rains, it pours.
Sorry, I must have missed this post.
I have no idea. I'm mostly in cash, just watching. I have one long position and I'm getting slaughtered.
What is happening now, is what I expected to happen in 2010.
This, is, in my opinion the start of "the big crash".
Of course, we're due for a huge rally soon. But, ultimately, I believe the NASDAQ is going to 900, and possibly as low as 600. Not now. Not here. But, for "the low", within 2-3 years.
Governments involvment into the markets are making the situation worse. They always f**k up anything they get involved with.
O.K., I do like our postal service. It really is the best.
Anyhow, as usual, just my honest opinion, fwiw.
AAPL actually closed up over 1% today. Maybe it drags the NASDAQ with it....?
I don't think the bailout gets passed tomorrow. Too much pork in the bill.
I think this bailout is just one BIG scam on the American taxpayer.
AAPL's going to 95.40
Looks like it'll take the NASDAQ with it.