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AAPL, EBAY, and AMD (When it opens) are all down a good % afterhours. This markets was pumped to pull in the sheeple and now it's time for the Wall St to shear them. This is a shame that this country is turning into one big scam-a-thon.
AAPL R at 78.5 huh, what's that the price 4 days ago? I think a better target is lower 60's
OK so appl & ebay will go down 10% tommorrow. QQQQ will go down 0.5%. When this is done all components will go down 10% and QQQQ will be down 2%.
Incredible, INTC & YHOO down over 10% and QQQQ only down 0.75% and climbing. Bears can't win.
Japan neikki starting off well, down another 250 pts after dropping 450 yesterday.
Wow, this board is dead. Haven't visited for a few weeks. Was expecting lots of chatter with INTC, YHOO, GOOG getting hit big.
OUCH, NDX tanking AH, look at INTC, YHOO, GOOG
I'm not buying, short a bit of QQQQ. YHOO now down over 10% big hit.
And it's pulling that POS GOOG down with it... GOOG off 17+ pts now.
YHOO tanking, very nice :)
3 minutes after earnings release down $3.50 or over 8%
Closing short at 10:45am, going flat. Last 3 days red ALMOST made up my one day short from a couple weeks ago where NDX went up 1.5% in one day.
Pig of a market should tank but I'm worried about a pump job thru end of Jan so the Miestro greenscum can go out on a high not to allow him to maximize his speaker fees after he's retired. He should be hung from the nearest lightpost IMO with the damage he's done to the US econimic foundation the last 16 yrs.
Going back into NDX short at close via rydex. Eventually there will be a down day.
AAPL up 16% this year, that's in 7 trading days. Not bad, should overtake google soon.
I really like reading the GOOG yahoo board. It's funny, google market cap is now 140billion and people think it should go to 2000 a share. Yes justified because it will earn $3 BILLION in what 2007?
I really liked one comment where the poster said putting Google icon on Motorola cell phone was an engineering achievement as big as putting a man on the moon.
I'm sure it was in jest but it really summed up the insanity pretty well.
Flat again. Got 15 trading days to try to make up the hit from today and get to breakeven for the month. What a POS market.
I hate EOD trades in rydex, as expected, get a .25% ramp in last 2 minutes.
"news" is the excuse used after the fact. You're not an anateur economist, implying you don't have opinions on stuff around you. OK that's the way you live, you take the "professional" econonmists and believe what they say. Whatever works for you.
I would agree, hoping markets move in the direction my "logic" says they should is just speculating. I will go flat at end of day and wait for another opportunity. So much FED induced liquidity we could continue up. Seems like whenever something negative is coming up politically the fed pumps liquidity ahead of time. So maybe we really are about to Nuke Iran soon.
QQQQ now up near 6% in 3 trading days (from Tue low). 6 months worth of gains in 3 days. Question is now that it appears to have broken out where does it stop?
I think I'll probably cover at EOD if we don't pull back today. Guess millions of people are selling there extra houses to buy stocks now that housing is dead.
Yes, it appears we'll never have a down day again. Up what, 6% this week, sounds like time to buy.
But I ask how much better can the news get???
1. FED will stop raising
2. Unemployment now 4.9%, can it go to ZERO?
3. Long term interest rates still near historic lows
What is the news that will propel markets higher from here?
I just read that story with the nitwit speaking of $2000 a share. He doesn't set targets but says it's possible eventually. It's possible it's addressable market share could lead to 100B in revenue. Give me an F'ing break. These 2 google founders are so god dammed brilliant that no other company will be able to get a slice of the pie, google will get it all???? This is truely insane.
There's an orchestrated short squeeze going on in GOOG now. I guess too many were short at end of year figuring that there would be some selling pressure after new years by longs holding off on selling till the next tax year.
The big brokerage houses see the short position (you don't get that information for 30days or more) and all coordinated in pumping it this week. Every day this week upgrades or new higher price targets.
Well another good call by me :(
Going short NDX at the close, it ramped about 4.5% in the last 2.5 trading day. Hoping it can give back a little of that ramp.
I have no confidence in this. Look at BZH a homebuilder, at new all time highs with RE slowing down. WTF now we ramp based on rate increases stopping? Market goes up with rates rising and now that rates stop rising it should go up even faster?
Looks good, thanks for the chart. I'm thinking of staying short the 30yr bond till Jan 6th, then go short SP500. We'll see how it goes.
Well going short 30yr bond fund didn't pan out today. Interesting how with the booming economy interest rate yield curver is inverting. Oh well, I'll hold and see how next week turns out.
I think the time to go short again will be early Jan. Was long last 2 days, enough so to get me to breakeven for this month. at the close I moved rydex funds to the short 30yr bond fund.
From what I've read on the Iraq elections they were fraud ridden and to top it off it voting was done along religious lines (duh!) so it looks like civil war is just a matter of when. This will come to light just after Jan 1 when results are announced. We've go no clean means of leaving now so it will be a mess.
Add in the fact Bush should be impeached for the domestic spying, the xmas sales I think will be poor (maybe they'll be saved by post-xmas bargain hunters).
Funny, Bush should be impeached but the entire top level of government is either corrupt or incompetent... noone could replace him, scarry situation we're in.
Endless pumping. Then when it gets to 600 he'll say Goog can earn $18 in 2006 therefore it's worth 1200.
GOOG should be the first trillion dollar company... guess no other web company will ever figure out how to get the advertising dollars flowing GOOGs way. GOOG search engine is more valuable than a cure for cancer.
I'd agree with you. It can be tough to make a bug when the big boys on wall street have so much extra information over you. Such as short positions (real time), when Fed is doing coupon passes, etc.
Today I closed out my remaining shorts. I'm down about 2% from begininning of Nov. Tired of fighting, will stay flat maybe until early Jan.
The DOW is still red year to date so they may try some more ramping to get that up to 11K to have a nice party and tell everyone the economy is great. Ignore that budget deficit announced today of 83B for Nov, over the 76B expected. No one gives a crap on fundamentals, it's a momo.
Down day? Is it possible? Will FED come to the rescue in the final hour???
I have no clue, but don't count on an answer on this board, it's dead. I didn't close any short today. Deer in the headlights syndrome, maybe tommorrow.
Still got 70% short, debating whether to throw in the towel for this year. Last month was a loss of about 1.5%, not huge but when trying to beat SP500 it was.
What are your indicators saying or have you tossed them out the window?
covering another 10% of ndx short, have now covered 30% last 3 day. Markets will crash once I've finished covering.
Reduced short by another 10% since today was red. 2 red days in a row, doubtful it can be 3.
If recent history is any indication, we should recover all of yesterdays losses by 10am. It's nice to be long in a market with no downside risk (wish I was).
Covering 10% of my NDX short. For each red day I'll cover 10% so in 10 red days I'll be flat. I need a plan and that's the best I can come up with. Good luck to all.
NDX now up 10.0% in 18 trading days. Showing no signs of slowing.
GOOG on it's way to 500 by end of year since that's the target placed on it last week.
Don't worry about M3, it won't be reported any more in a couple months. Or at least it won't be reported publicly, maybe big trading houses in wall street will still get it to feed into the program trading algorithms.
Well it looks like we got an excuse to rally now for quite a while. Just the "Fed is done rasing rates" mantra can be used by bulls from now on.
Add the DOW now in striking range of 11,000 and another reason to continue rally.
I need a new strategy :( Maybe I should cover 10% a day for next 10 days till I'm flat.
Still short via -2xNDX. After today I'll be down about 1.6% for the month. Good think I don't have all my $ in Rydex or I'd be even worse off because I'd have put it all short by now.
I'm still amazed that you can stay long again after what 18 virtually straight up days! You must have some indicators that you're following. I'm just hoping eventually there will be a pull back to get me out. Getting breakeven on this month is highly doubtfull now. WIth Turkey day we'll probably be up on from here till end of month.
Thanks for the charts. Hopefully the short covering is nearing an end.
We need to get some down days or we'll never hear from Steve again. He seems to disappear when trades go against him. Can't blame him though.
I'll keep talking to myself :) looks like going for wipeout of the bears. Since there will be no short positions to support the market in a down day, maybe the downdraft will be even quicker?
42 coming up on QQQQ...
>>>Sold my FORD premkt for a nice profit. <<<
>>And this is why you never believe or follow anyone on the internet stock boards.
Good sale premarket by this guy. Continuing the tradition of these boards where no one has a loosing trade. Jerkweed
Looks like I was wrong on 41, maybe we'll go for 42 for tommorrows close on QQQQ. 12 cents an hour should do it.