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nibbled some 39ish DUG; probably early - gap @ 35.89
maybe we should look at smith & wesson - SWHC
dow playing with descending parallel channel roughly 9150 -
8150
taking some profits in AEM & AUY on gold pop; looking to reload altho NEM earnings not good; dollar has some room to correct
the way i drew them I have dow triangle top @ 9170 and spx @ 950ish,
however, we could get a fake out spike like on 10/14 to maybe
990ish
volume was still very low
dollar looking short term toppy;
trying some AUY & AEM for rate cut; possible gold bounce
wow, just got back in and this is a cruel market - like a saw
torture movie; non-stop false hope, bounces and fakes and alot of people looking for "buying opportunities."
triangle is definitely broken; 7400 should be hit today or monday;
EEV has been wonderful; dipped to 145ish this morning; i got back in 147ish; not sure opec can do much; if they cut, we know they will cheat; some of the terrorist states are desperate for cash
dow descending triangle, if it breaks, measures to approximately
7400; spx to approx. 790
looks now like the triangles are descending; dow base 8450 or so, spx 900 or so
i took profits on everything i bot yesterday
last month it worked to buy this near the end of month in low 90s, capture the div and then sell the pop after the div; this month I missed the dive to 93ish and she ran today; BTW, another triangle forming. weekly also looks ok. think ex is always the 1st of the month
LOL - yeah I'm sick of them too, but we still (at least today)
have 3 higher lows with decreasing vol and good volatility so I am inclined to buy the plunges and sell if I'm green. today I put in what I thot were outrageous bids on RIG and POT and both got filled but EOD ramps turned things green;
its a small silver lining but i agree with you - at some point this so-called liquidation should slow down or exhaust itself; with all the gloom and the large decline today, I would have guessed the vol would have been greater.
maybe these hedge and mutual funds are near the end of selling for now
i think the greater carnage is over seas - brazil, russia and commodity producing nations; thats why I am attracted to EEV
double whammy - slowing demand and rising us buck
the triangles may be fugly, but we have a 3rd higher low on dow and spx and the vol. today was comparatively lite; wonder if this friday will be like Oct 10
i may not be the oracle of anything if their earnings are not
good tomorrow :)
took profits in EEV and got some 78ish BNI
thursday evening earnings plays
BNI, IBKR & POT
BNI and IBKR should be ok to good; have no idea about POT but low 60s looks oversold; how many more hedge funds could possibly still be selling
nibbling some
EEV could retest 207
yeah and in this market there are so many spikes and surges
that trend violations can be momentary; i'm not buying indices - but using them to gauge targets of individual plays
dow triangle bottom near 8490ish; i will gamble on the triangle
resource based country currencies getting clobbered
ok. cool.
dollar move is something; should have just held UUP instead of trading. bot some this morning again
hey LG before you scold him maybe you should look at his 132341;
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33005105
dollar move is huge; look @ the monthly; could run to 92ish over time
you are probably right to stay bullish; theres definitely some room to run. inventory #s are coming up on wed and i hope to play the swings; the vol today was not that impressive; some bigger players decided friday, energy was due for a bounce and they piled into big oil; other than a bunch of energy names being way oversold and beaten by hedge liquidation, i'm not sure the big picture has changed much. even china is slowing. oil is in the 70s. however, I will play long for awhile. i like natgas better than oil. good trading to you.
yeah, I'm very happy; had CHK, DVN and DIG from friday;
they all have gaps 28.92, 82.51 and 38.35; (weird day with UNG
tanking); wonder if this is real
I traded out of SLB and RIG but left $ on the table
it was criminal what they did to DIG the last few hours on friday; they knew energy upgrades were coming so they did a flush almost to 30; i held on and added some nervously and then sold too early today; that pump on everything last 20 minutes is not comforting; obviously quite a few got the AXP memo early
that said, in this market I dont trust anything; i took some profits and will look to reload tomorrow; I made wonderful $ on EEV on the way down and will watch that gap at 105ish; nice hedge to US long energy plays
i bot DVN this morning @ 88ish; mild positive divergence;
theres a gap at 87.33ish; maybe gas gets a bounce
its very volatile; i just added alittle in 121s
EEV was 98 monday morning
RSX getting plummeled; brazil raised rates to 13.75
SKF gap from aug 27 @ 126.40
there is not much volume, but it often trades with a nice lag;
i do not hold it over night as it often gaps on the open;
i think the easy money has been made on gold short but there is some more downside; dollar may have some resistance above 80 but I think it could drift sideways or higher
looking at USO - previous breakout of inverse H&S (earlier) shows 79 support could be tested; if that breaks there are weekly gaps @ 75.93 and 64; it appears someone dumped big on the pop this morning
DZZ breakout of angled inverse H & S; it was strangely red this morning for a short time with gold down; now its up almost 3% and gold is knocking on 750
every spike in oil and metals getting sold
may not last long, at least with commodities; opec move will fade fast; like the hurricane scare; opec cant change declining worldwide demand and flight to the dollar
non-opec countries need $ and will produce as much as they can sell
GS looks to have a visit with 140-130
the difference on the dow only appears for the first couple of minutes; today there was also significant discrepancy on gold and gold plays; i took advantage. cant pin it down, but something is not right. one screen was showing green, the other red on gold plays
bet they gun oil and metals into inventories
anyone notice the discrepancy between cnbc ticker prices and quotes; i use IB and the dow is off by twenty points - just noticed yesterday
descending triangle measures to approx. 659 and with the recent consolidation there is a possibility of head and shoulder from fall 2007 with shoulders near 846-850 and neckline in hi 700s;
I've noticed the longer term H&S on a number of charts recently; the dollar may pullback but I think it will continue trend through out 2008; the monthly BO is clear
WFC takes a 480 mill hit but everyone seems bullish on financials
http://www.reuters.com/article/marketsNews/idINN0836139920080908?rpc=44
I sold all my longs on the open; weird that gold was up but I took profits; got some EEV in the 98s; took nice profits in FCX and escaped ISRG; i think there is alot more pain overseas
how do they rationalize the huge hit for many in FNM FRE?
mortage rates really not changing; at this point this looks like a simple move to avoid collapse or panic plunge
dow flying but relatively good plays getting clobbered -
look at the engineers/infrastructure plays
FLS, FLR - real companies w/ real business getting sold
tech looks toxic and I havent played it for months
looks interesting; also if there is some fed bailout, it may
weaken the dollar and rally energy and metals;
thankGod I traded out of a small FNM position with a minor profit - looks like common will be devalued or wiped out
i could regret it on monday :); looks like liquidation all week in energy and metals so I'm gambling for some pressure to be released. dollar also looking a might toppy; nat gas
in the 7s in sept is usually a safe buy;
i missed POT that seems to trade with energy and metals lately