45 replies to this topic

[zoropb]

That is certainly depressing and the euphoria is obviously hard to ignore. If we are looking at another 10-15% pop, I am going to have to move some stuff around because being short now is painful


That being said, it seems like the next 2 days are quite critical and I am watching the bond market for clues. Crucial gaps might be closed today on the 10 year, plus other major indices. If we are going to have a normal retrace I would expect it to happen now, if we are going to descend into the 1930s...then yeah....

I would look for cash to peak around 931-933 good odds for a 2%+- drop.

Z

[rkd80]

That is certainly depressing and the euphoria is obviously hard to ignore. If we are looking at another 10-15% pop, I am going to have to move some stuff around because being short now is painful


That being said, it seems like the next 2 days are quite critical and I am watching the bond market for clues. Crucial gaps might be closed today on the 10 year, plus other major indices. If we are going to have a normal retrace I would expect it to happen now, if we are going to descend into the 1930s...then yeah....

I would look for cash to peak around 931-933 good odds for a 2%+- drop.

Z

We need a substantial drop to snap people out of this stupor they are in right now, dont know if 2% will do it.

[zoropb]

That is certainly depressing and the euphoria is obviously hard to ignore. If we are looking at another 10-15% pop, I am going to have to move some stuff around because being short now is painful


That being said, it seems like the next 2 days are quite critical and I am watching the bond market for clues. Crucial gaps might be closed today on the 10 year, plus other major indices. If we are going to have a normal retrace I would expect it to happen now, if we are going to descend into the 1930s...then yeah....

I would look for cash to peak around 931-933 good odds for a 2%+- drop.

Z

after wrote that decided to pop it Short 926.26 es stop in an hour or so.

Z

[MoneyFriend]

after wrote that decided to pop it Short 926.26 es stop in an hour or so.

Z

Downside into 11:00, if 910 is broken, downside into close

Edited by MoneyFriend, 07 May 2009 - 08:52 AM.

[zoropb]

That is certainly depressing and the euphoria is obviously hard to ignore. If we are looking at another 10-15% pop, I am going to have to move some stuff around because being short now is painful


That being said, it seems like the next 2 days are quite critical and I am watching the bond market for clues. Crucial gaps might be closed today on the 10 year, plus other major indices. If we are going to have a normal retrace I would expect it to happen now, if we are going to descend into the 1930s...then yeah....

I would look for cash to peak around 931-933 good odds for a 2%+- drop.

Z

We need a substantial drop to snap people out of this stupor they are in right now, dont know if 2% will do it.

cant say past that bud.

wow that was quick I was typing glanced at other screen and pow
ok stop to 928.75

Z

[MoneyFriend]

Q's are crapping again today.

[MoneyFriend]

The last time we saw such a strong rejection in the first 15 minutes was on 4/20. Maybe, if we are really really lucky, we'll get our sellers coming in today.

Edited by MoneyFriend, 07 May 2009 - 08:58 AM.

[rkd80]

Q's are crapping again today.

Naz leadership has definitely waned, but in this type of rally and the amount of euphoria among people - I doubt it matters. I am looking at high volume drops recoiling off the gap resistance and so far this is happening. This rally however has had an interesting pattern:

Buy morning low, sell 3 oclock.

If the bounce does not materialize within an hour, we might be in for another potential exhaustion day.

[zoropb]

after wrote that decided to pop it Short 926.26 es stop in an hour or so.

Z

Downside into 11:00, if 910 is broken, downside into close

Well that would be nice for a change. just sold 40% at 819 +-7.25

Z

[MoneyFriend]

If the bounce does not materialize within an hour, we might be in for another potential exhaustion day.

Please don't get my hopes up with such bearish conjecture!