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Tested friday's high of 41.56
and broke thru' :(
Brilliant Capt
Very apt Title that I belive she is very qualified and experienced to perform :)
and give Ms Lewinsky a job at the white house
to keep Bill busy :)
Scaling into QID/Puts this morning
Will need a -ve close today to confirm reversal!!
Bearish harami trend reversal confirmation today?
Though a low probability reversal trend, it will signal a reversal given the gap down open today and if we have a negative close :)
Now, will the FED/Bulls step in to buy this dip?
Lot of effort to make a Green close today
and they will get it ... green but flat. Next week should belong to the bears.
Google in talks to buy youtube
This should prop the market up some more ...
http://biz.yahoo.com/ap/061006/google_youtube.html?.v=5
Google in talks to buy youtube
This should prop the market up some more ...
http://biz.yahoo.com/ap/061006/google_youtube.html?.v=5
Agreed Spooky - still waiting for short entry
Was hoping for a gap up but didn't get it ... with this "dip buying" we may now hit that 42 number monday.
Patience pays off at times
Not giving up easily here
Looks like dip buyers will pull this up and make it close flat for the day!!
Job Payroll report out 8:30 EST every first friday of the month
Golfinvestor: Yes
Been following him for a few years and just recently subscribed to the forecast newsletter - I am still thinking we get a little pullback and am not going long at these levels.
Professional newsletter advice?
Anyone subscribe to any professional (paid) newsletters? One that I do issued a "buy" yesterday after maintaining a defensive stance for the past few months hoping for a c wave correction down. However, changed stance looking at the strong DOW close yesterday.
Given Gleno's theory that the market tries to "fool" even the smartest of investors, looks like it is convincing the retail crowd to jump into the train before it leaves the station.
Is it then the contrarian sign of an IT top?
Staying flat today
Will wait for the employment numbers in the morning and place "short" bet in the a.m.
Open on columbus day ... no settlement though
http://www.nasdaqtrader.com/trader/news/upcomingevents/upcomingevents.stm
Farooq .... thanks for heads-up
It depends on how much (%) you are current short .... if you believe it will get down to 39.03 then just add to your short position (double down) when it hits 41.90 :)
Regarding Oct or Nov puts, I have the same dilemma ... I am leaning towards a "smaller" position for Oct and larger bet on Nov puts.
Good trading all!!
We should open up
and top out at 41.4 - 41.50 tomorrow ... That should help the DOW take a crack at 11,908 and fail i.e. reverse!!
11,908.50 is key for the DOW
That was the intra-day high on 1/14/00 ....
11,908.50 is key for the DOW
That was the intra-day high on 1/14/00 .... if it can pierce and close above, the Bear is history :)
I am a Bear
For the next 3 weeks and will be buying puts and going long QID tomorrow morning if we get a gap up :)
Sure Capt - Good advice :)
2X makes it a fun and a risky bet ... only for those who can weather accelerated declines if it goes against you.
I'll be in QID with you with the gap up tomorrow morning!
Good luck to all.
Question on QID/QLD
New to these too and read about them on the proshares.com website ... very interesting and looking to get into QID.
Q. What happens if the Q's go up 50% from where you bought QID - would that wipe out your investment in QID (100%)?
Same question if you bought QLD and the Q's went down more than 50%?
Who "lit" the fire - rocket took off
If the DOW heads towards it's all time intra-day high of ~11,777, Q's could easily go back to 41
Need one more test of recent highs
before the trend can reverse ... watching the next few days to get better entry to "reshort" and load on puts.
Downside may be short lived
Covered short at 40.2 (from 40.6) and staying flat for now ... agree with stock-trace that we may go up and possibily hit 41 again - will short then :)
Stay long if you are fast on the trigger
Profits can possibly be made on the long side now but with minimal upside, risk is more ... with most folks on the sidelines and waiting Oct out, don't believe market is going to break out and take off.
Easy to stay on the "bear" side for now and watch how it unfolds the next couple of weeks. Usually, when stocks run up into earning season, they "usually' sell off at the news.
good luck all!!
Luring in the Bulls
today and possibly next couple of days!!
How is this for a headline
Stocks sail to biggest 3rd-quarter gain in 9 years - http://biz.yahoo.com/rb/060929/markets_stocks.html?.v=12
This should be the talking point on all market watch websites this weekend and early next week to make Joe sixpack very comfortable about the future!!
stock-trace, you still see a run upto 42 next week
that should help the DOW close above it's record high
Correct shortterm - shouldn't have genaralized
that statement; though it is true for majority of companies.
Agreed that some like Oracle which reports early and Dell/CSCO that report late have more time to warn if neccessary.
Tomorrow is the last day to Warn
Last chance for confession is tomorrow - just throwing it out there :)
PS - I am a ST bear but
If the DOW corrects to the 10-10.5K range in the near term, don't you the possibility of a HUGE Inverse H&S pattern that could take this to the 15K-16K region :)
3rd yr of a "presidential term" are usually VERY +ve years ... 1999, 2003 etc.
Farooq, you expect the DOW to follow suit
and near 12K if the Q's get to 41.51 then? Why 41.51?
All indices seem very tired nearing the very high end of their ranges.
As usual, appreciate your insight.
sayitaintso - based on what is today a 'Turn day'
Cycles, bradley or other T/A that you follow - could you elaborate please?
Dow Industrials Hit High for the Year
Headlines are screaming now ... ok for mom and pop to send more money into their IRAs and mutual funds :)
http://biz.yahoo.com/ap/060926/wall_street.html?.v=24
Well said Stock-trace
Making money and sharing ideas (long/short) with respect for all is what this board is about - Thanks to PS.
Prepare for a U.S. Market Crash
http://biz.yahoo.com/fool/060925/115919648505.html
PS, is our diver ready to fall
on his/her face this time? :)
Blow-Off Top today heading towards the "Oct Low"?
40.64 was HOD on 9/21
Farooq - Are you looking for it to test and fail or break out above?
Acapulco cliff diver sure went up that cliff in a hurry
Is it that the higher/faster he goes, the more precarious will his fall be?