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Market is bottoming


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#1 denleo

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Posted 22 January 2007 - 03:01 PM

This is the usual pattern of selling off for an hour and a half and going nowhere after that. The only question I have is whether we are bottoming today or will bottom tomorrow before the run up to new highs on S&P. Just like I said several months ago and many points lower: there is no risk! Denleo

#2 Frac_Man

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Posted 22 January 2007 - 03:09 PM

Yes, this is the last chance to dance

enjoy

Hank

I need a drink now :-)









This is the usual pattern of selling off for an hour and a half and going nowhere after that.

The only question I have is whether we are bottoming today or will bottom tomorrow before the run up to new highs on S&P.

Just like I said several months ago and many points lower: there is no risk!

Denleo



#3 dcengr

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Posted 22 January 2007 - 03:14 PM

Just like I said several months ago and many points lower: there is no risk!


With a 100+ point sell off in the dow, the VIX barely got over 11.. now its going back down below 11.

There's certainly no risk according to VIX.
Qui custodiet ipsos custodes?

#4 arbman

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Posted 22 January 2007 - 03:18 PM

Good to see you Denleo, I agree that there is one more run up remaining into Feb, perhaps from another mediocre pull back tomorrow, or maybe one more after that, but like I said several months ago, the risk is rapidly increasing as it runs higher and higher! :lol: Good luck, - kisa

#5 CLK

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Posted 22 January 2007 - 03:25 PM

I've already covered and gone long. Risk here though, could need to complete c of C of A down from the highs, sitting at top of b of C now. Divergence in place but already bounced.

#6 esther231

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Posted 22 January 2007 - 03:35 PM

Good to see you, Denleo. Always appreciate your view on the market.
When I see an adult on a bicycle, I no longer despair for the future of the human race. ~H.G. Wells

#7 denleo

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Posted 22 January 2007 - 03:49 PM

Thank you everybody. Nice to be back. There was nothing new to post. Market character has not changed much from several months ago. Short-term trading could be done both ways, but longer-term positions still should be done on a long side only. Denleo

#8 selecto

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Posted 22 January 2007 - 04:05 PM

No.

#9 Rogerdodger

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Posted 22 January 2007 - 04:05 PM

Good to see you, Denleo.
Always appreciate your view on the market.


ditto.
I actually was thinking about you this weekend and wondering if you were still doing the overnight trade.

#10 pdx5

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Posted 22 January 2007 - 05:36 PM



Short-term trading could be done both ways, but longer-term positions still should be done on a long side only.



No kidding :lol:
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule