Today looks like a most excellent opportunity to buy the putsky's at resistance and sell back later today at support. Yahoooo

Buy at support and sell at resistance. Don't know where that is? Well, we are in an intermediate downtrend. Short when the market runs up near or past it's 5 dma.

Dooh, as Homer would say.....I expect a fairly good intra-day bounce tomorrow off the 200 dma. The bulls have liked protecting the major ma's and I doubt that will be changing tomorrow. You might want to look at getting out of your longs soon. More downside likely.

I highly recommend taking some profits, NOW.

Hey doodle,

You and I could probably talk all day about government corruption and the history of U.S. government conspiracy. It does go way, way back.

WOWsers, look at the Dow going down and the Naz coming off it's highs to land back at the flat line. It sure pays not to freak out with intra-day rallies.

Did you mean 38.75?

Welcome Vestor,

We bears will all be raking it in when that 50 dma shortly breaks down to the 200 dma. We should get a decent bounce once the 200 is hit. You seem to have a good sense of judging market internals. Good trades to you.

Janet,

That's the way the markets work. This morning the bulls were scared. As a bear, I was salivating cause the futures showed Dow down 40 and Naz 7.50. Usually the futures as of late just show mild numbers one way or the other. I thought we were ready to go down BIG time. Then the market reverses and I'm thinking Oh, @#&^, this could be trouble. Ya see, fear was starting to take root. However, I'm on the west coast and had a very late night last night so I went back to bed. I knew that watching the market would lead to more fear taking root. None of us can not feel greed and fear. However, good traders learn how to manage the greed and the fear a lot better than the non-successful traders.

Hope you don't give up the beer cause then we might have to call you candyworld or something like that.

How's about shorting or buying putskys when we reach and or surpass the 5 day ma. We are remarkably staying above the 5 dma on the Naz. However, on the Dow we came right up to it and backed down remarkably. The Naz might sell off later today or wait until tomorrow. You can check how the QQQQ's have been trending lower right underneath the 5 dma. Wicks on candlesticks shows where the bulls got sucked in and burned for not waiting for the close. Patience is a big key in trading successfully. Also, micromanaging a trade can lead to letting emotions interfere with a good trading plan.

Beerworld,

I think you should wait till the end of the day to see if your daily bull flad holds up.

I'll help you out, Poker.....SELL,SELL,SELL and at support we BUY,BUY,BUY.

We have surpassed resistance on the q's and soon on the Dow. However, watch for prices to back down from these levels. Bulls will get sucked in and spit out again.

Don't think I ever attacked you here. However, I know I did at CS.

Hey Beerworld

The members here are well versed in good technical indicators and aren't run of the mill investors or traders. I don't think you can use this board accurately as far as gauging sentiment and going contrarian. The group is also far too small a sample to be used. Go contrarian using this board at your own risk.

Pokersam,

Remember me? 'Ol Bollinger.....I'm the one who said you were the loudest here.

Hey tanders,

How you feeling as the last remaining bull on the site? Have you changed your mind yet and decided to buy some putsky's?

No offense meant by my post. ;)

LOL

Hey Sponger,

How'd you come up with the name doodleboodle? Every time I read it, I think it sounds like a name for a primped up show Poodle.

If ya can't afford to lose it don't bet it. No one's paying Paul for his market advice. He is as free as anyone else here to give his market opinion. He just happens to be the loudest and has made some good calls and that's why he's so well followed. Baby traders need to grow up by educating themselves about technical indicators and where to set stops. Trading is the best game in town. However, it is a game in which the disciplined and patient make money off of the impatient and undisciplined. Baby traders do themselves no favor by just trying to find a guru at a free chat board and doing everything he says. Had to get that off my chest.

Excellent post. Don't think I could agree more or have stated it any better.

I'm talking about closing prices from day to day. That has been a slow grind. The bulls have been vigourously defending the major moving averages.

When do you think the boys are going to come in and blow this thing up instead of playing games with the awefully slow grind down?

Paul,

Looks like your 38.64 maybe setting up as support. Temporary support though. Sold my q puts and looking to get back in when they are back at what I paid for them or lower. Good job at remaining steadfast even when the bulls had looked like they had taken control.

Thanks mvp

If the 50 dma breaks, then we go to the 200 dma which is at 37.77 currently. Oh, how I'd love it if we broke the 200 dma and went to an even lower ma.

Pardon my ignorance, but what is the ppo?

Chico,

Question answered. My bad for not reading all the posts before posting.

Buh BYE!

Rcp,

Your logic is impecable....My hat's off to you. Why would a lurker (someone who doesn't post a lot) come over here and start posting a lot? I think we all know who she is. It's just a question of when the woodfish is going to dump her. But, then again she will be back with a different alias. We must learn to ignore her. She wants the attention and she will settle for whatever attention she gets. She would prefer that we "bow" to her market knowledge. GAG ME! However, she will settle for whatever attention she can get and that includes the negative comments we make about her.

PARL,

Why are you starting @#$% and talking smack? We don't need this "I'm the best poster" BS. We had that over at CS. So knock it off or I'm sure you will be knocked off this board and you can go back to CS to compete with 1best/trendsignal/reversalbar/trendplayer etc. Got it?

Chico,

Are you expecting a trend change soon? That's what it seemed like in your post.

Can everybody get it right? People are mixing up bearworldmaster and saying beerworldmaster. There is no beerworldmaster posting here. We have posters named beerworld and bearworldmaster. I see nothing wrong with beerworld's posts. He was an established member at cs who didn't cause any problems. However, this new poster, bearworldmaster appears to be the infamous troublemaker from CS. Say no to the bear (bearworldmaster) and yes to the beer (beerworld). LOL.

I think once the 50 dsma is broken then we will be descending to the 200 dma. The 50 dma is important to institutions so it wil be vigorously defended. It will fail soon enough though. I have heard a definition of a bull market as one where price is above the 50 and 200 dma and a bear market is below the 50 and 200.

Ken,

I've been bearish for about 2 weeks now. How do I update my profile?

If it looks like a duck......get her outta here.

Huh????

I watched a video by her. She's very good.