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So who'd a thunk ......

Started by cgnx , Oct 31 2008 10:40 AM

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15 replies to this topic

#1 cgnx

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Posted 31 October 2008 - 10:40 AM

that you could have an up Friday? Not sure which way it closes but, you have to admit its pretty favorable for bulls to be where we are right now. Alot of strength and conviction to hold over the weekend nowadays.

If it can be cornered, it will.

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#2 humble1

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Posted 31 October 2008 - 10:58 AM

they are gonna sell it right under yesterday's high - right in here. you can see that tri-type thingy working its way right into that resistance. a slow, steady, market here will kill the daytrade and pit shorts but probably give them enough time to get bearish and well positioned on the short side. totitty won't be like yesterday (with the sharp sell-off), imho. it will whack them soon and hard!

Edited by humble1, 31 October 2008 - 11:00 AM.

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#3 cgnx

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Posted 31 October 2008 - 11:30 AM

Plus most traders today almost have to sell and take gains, its practically ingrained in the mentality. Scalp they may and crumbs they'll get. I like that. Holding is the hardest thing to do.

If it can be cornered, it will.

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#4 humble1

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Posted 31 October 2008 - 11:55 AM

the holding hard-to-do thingy: that's where being a lazy man helps me a lot. looks like they are starting to head up to the stops above today's and yesterday's high. this should be fun; there might be a battle followed by a complete rout of the shorts.

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#5 humble1

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Posted 31 October 2008 - 12:08 PM

hope you don't mind me commandeering your thread for notes to meself, lol: yup, when they hang around under the re-test of a resistance point with pretty quiet trading, it usually means we are going back up and through, GIVEN the bullish overall background.

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#6 humble1

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Posted 31 October 2008 - 12:22 PM

OKAY! the hook is set: they are starting to come back from lunch and to think about getting out of town early for the halloween weekend. many may have already done so, taking that long island train to comfort. ms. market has the shorts and, mainly, the underinvested at her mercy. and, with it being halloween, she may be feeling a little witchy. "fire burn, cauldron bubble!" those who leave short may get tricked late in the day