suann99 and all, at this moment my thoughts are as follows:
if i am long, i will hold onto them.
if i am short, i will need to decide what to do, hold or close them.
if i am not long i will buy at any price. in doing so, i will be a MO player. i will use trailing stops. if the market does not go up, i will quickly close out.
as you may recall, i stated on Friday that the SPX had broke out, and i expected it to reach 1084 by Tuesday. That to me was the trend. NAS was consolidating on Friday and i had expected it to follow SPX action. Turning down then for one of the many volatility actions i would have expected in an Options Expiration Week. Those thoughts it seems were also posted by another, who thought the turn would be on Wednesday at the same level i projected. I also said, i did not recommend beginners trading during Options Expiration Weeks.
We also have CPI on Tuesday, which was on of the reasons i picked that day for my probable turn action day. Stating i expected the turn during or after.
Now we have another force that will cause greater variances and volatility in a normally wild week, the Saddam Capture Reactions... It will cause exaggerated actions.
This is the things MO actions are created from. NEWS. My choices for playing this particular MO is as i said in the OPEN for Dec15, Major Indices, Major Sectors or Major stocks. I suggested these stocks to be among the Stocks making Impulse moves Monday. http://www.investorshub.com/boards/read_msg.asp?message_id=1929151
If one picks MO plays, they should pick plays they are comfortable with. If you are comfortable with Techs it would seem good, i am not knowledgeable of biotechs, so i am rarely comfortable with them.
Remember the Saddam Capture Reaction, is a MO play, not a marriage. It is like a one night stand, and it may even be less than that. On the other hand, the MO may be still there after breakfast. But CPI is for breakfast. Will MO for breakfast want wheaties or oatmeal or nothing suits h/h?
I suggest, the MO play will follow the trend but exaggerate it, up and dn.
Remember the wizard behind the curtains, are the Major Players, being assisted by their assistants, the MMs. The Major Players, who own the large Volumes of all the key stocks and the MMs. They have THE CONTROLS strongly in hand in Options Expiration Weeks. They will do with this like a Judo wrestler is trained to do, use the energy of the opponent to win, when one pushs, pull h/h thru; when one pulls, push h/h thru. They are in control no matter what, as they know and how to do the game plan. The MO play, The Santa Rally and Jan Effect, Special Trading Days in Dec and Jan, and Longer term Forecasts are all covered in todays **OPEN Post for December15 , and its charts are all LIVE so you can check it thru out the rest of December and into 2004 and it will still be timely.
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