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Forgot about that one! Thanks. eom
Ray,
What are you using to short crude and gas...?
I remember when oil was too cheap and they just capped the wells. How times have changed.
108.52 would be a good place to enter the SKF.
That's the 50% re-tracement of the recent leg up.
Can't explaine it, but some on CNBC tonight thought any rally tomorrow on the indexes would be shortlived.
You think they tank the open and then take it up(on the indexes)?
That's why I like to trade the "indexes".
I watch it, but don't own it. Supposedly, they have pricing leverage.
CROX DOWN 35%? WOW!
Yes, but you had a nice entry and you got a nice profit.
If the SKF closes today where it's at now, 118 or so, it's due for a pullback tomorrow, at least.
I'd love to see it go back to 106, but I'll be buying around 108 if it gets there.
Big swings in SKF. Good for swing trading. :>)
Well then, looks like 126-135 will come quickly. Are you going back in? Or, are you still holding from 100?
looks like a re-tracement to the 108 area would be a good entry point to go after the 126-135 area.
My indicator is showing extreme overboughtness on the daily chart. If it closes there, than I'd say the pullback starts tomorrow. Or, quite possibly today.
Going to fill that gap @117.08
I left a lot of money on the table, but 10% or so in a few days time is pretty good.
My methodes can leave the indicators pegged for 3-4 days, or they can be hit intraday and reverse.
I need some 'fine tuning'....
Here's a site the gives EW counts on the 3 major indexes:
http://e.wavegoogle.com/
I check it daily to see if Ted's view jives with my own.
Or, sometimes,when I feel as if I don't have a clue as to what the market is doing, I'll check to see what Ted thinks.
He also started this 'portal':
http://partnerpage.google.com/wavegenius.org
There's some nice info there, also.
Enjoy!
df
Cort: Something to keep in the back of your mind this week:
FWIW, from the Clinton News Network:
Banks set to stumble again
http://money.cnn.com/2008/04/10/news/companies/bank_earnings/index.htm?section=money_topstories
I will. :~)
Sure thing.
It could now pullback to the 106 area and then fill in the gap at 117 smething. Ultimately, it is going for the gap around 135 or so (I'm going from memory here).
I'll be watching it this week. Lots of volitility this coming week. I understand that there's a LOT of calls on the Q's.
They'll need them to expire worthless.
Cort: My sell order was filled at 113.34 a few minutes ago.
Are you still holding...?
Now, if only I can get 51 and some change for the QID... ;~)
I see the NASDAQ going back to 2236. On there, a rally and then a final flush.
Here's what the financial sector reminds me of:
http://www.amazon.com/gp/reader/0698113578/ref=sib_dp_pt/105-7683093-6154019#reader-link
I loved that book as a child. And no, I'm not a racist! :~)
If today's action is a w4, then I have a target of 126.38
That W4 being from today's high of 111.35 and the low being 106.74
Like always... time will tell. :~)
History repeats it's self alright. Alternative energy stocks are the dot coms of the new millenium.
Just a matter of time before the big shake-out.
Here it is:
http://seekingalpha.com/article/71849-question-marks-at-valence-technology?source=yahoo
BTW, the author is short VLNC.
117.70: intraday gap. Probably gets filled. However, I'm going for the daily gap at 113.37
My sell order is for 113.34 Why be greedy...? :~)
Is this what you're talking about:
http://reports.finance.yahoo.com/w0?r=37752470:1
I don't se any "news", but pre-market, it's down .30 to 3.03
http://finance.yahoo.com/q?s=VLNC
No way! I don't believe it! I just checked VLNC and noticed it closed at 3.33!
Wish I had known during market hours, but can't watch EVERY minute. :~(
3.18 (or lower) would be a GREAT entry point for VLNC.
VLNC has a battery technology that is superior to other battery technology used for transportation.
da cheif is one of the few people I follow who I respect. He's good at fib numbers with the stocks he comments on.
SYBD and VLNC are two that I "trade". SYBD looks like it'll hit 1.30 or so, but I may be in and out a time or two before it gets there.
Still holding SYBD since my last buy @ 0.74
VLNC I don't currently hold. Looking for entry, though.
If VLNC pulls back to 3.42 in the next few days, jump all over it!
Here near 3.80 isn't bad, but 3.42 would be "perfect", imo.
You much a much better entry than I. I need to trust my TA skills more than I do.
When I figured the fib re-tracement levels on the SKF and the QID, I figured I could make a trade or two before they reached my "ideal" entry points.
I didn't think the numbers would be hit in "one fell swoop".
Anybody get in the QID the other day @ 44.30...?
2330.17 is the number to watch today. If it gets taken out, then 2279.10 is a "lock". Better to fill it now, than later. :~)
Broke it. Down we go!
AP
Pending Home Sales Hit New Record Low
Tuesday April 8, 10:21 am ET
By Alan Zibel, AP Business Writer
Pending Sales of Existing Homes in US Fall to New Low
WASHINGTON (AP) -- The National Association of Realtors says pending U.S. home sales fell to the lowest reading on record in February, signaling the housing market distress is not yet over.
The Chicago-based group's seasonally adjusted index of pending sales for existing homes fell to 84.6, which was 21 percent below year-ago levels.
Wall Street economists surveyed by Thomson/IFR had predicted the index would inch higher.
An index reading of 100 is equal to the average level of sales activity in 2001, when the index started.
---------------------------------------------------------
People just don't seem to "get it". It's something called demographics.
df
Will the ALCOA and AMD earnings be the "reason" for the sell-off....?
2339.52: Watch that number on the NASDAQ. If it gets taken out, we're on our way to filling the gap at 2279.10 (Edit: There's a gap at 2200.53 that needs filled, too.)
If that happens, then I think the NASDAQ will run strong to the up-side, near 2600, then another pullback, before going after the "recovery high."
Time frame...? Between now and Oct.
QID @44.30 area: A GREAT entry point for a 1-3 day trade.
Unfortunatly, no cash on hand. :~(
Still hold the QID from 47.90 (avg. price).
P/C ratio under 1. Does this mean a short term "top"?
http://www.cboe.com/data/IntraDayVol.aspx
Will do. :>)
I think the "ultimate" gap to fill on the SKF is 84.07
Then, it's "off to the races".
Two gaps overhead. Two gaps below. Which get filled first...?
Hopefully, the one at 113.35...!
"which is a long way from being done"
You got that right. I have a friend who is responsible for a large portfolio of commercial real estate for a regional bank. He handles the forclosures on these properties.
He told me his bank has A LOT of sub-prime loans outstanding.
The FED can try and bail out the banks, but eventually, it'll be time to pay the piper.