Trimming longs down substantialy, starting to add shorts.

MCO extremely overbought. Indexes/individual stocks hitting the resistance moving averages that are still dropping. Huge moves off the bottom on many stocks. Economy still blows. Employment report on Friday will be a reminder. Election releif rally is about to stall.

Don't tase me bro.

MCO extremely overbought. Indexes/individual stocks hitting the resistance moving averages that are still dropping.
Overbought is not a sell in my book. Cut the 20dma like hot knife thru butter.
Huge moves off the bottom on many stocks.
That is bearish?
Economy still blows.
Joe Granville used to say what everyone knows is not worth knowing.
Employment report on Friday will be a reminder.
Market looks ahead.
Election releif rally is about to stall.
How do you know that?
You were early picking this bottom and now you are early picking this top.....

Edited by traderpaul, 04 November 2008 - 12:03 PM.

His gains are sweet. Hard to hold when u make so much money, eh ogm? I've been selling some and buying others. My vip already broke its 50 day avg. so might as well buy something still to go there. My vip from 7.16 was awesome.

His gains are sweet. Hard to hold when u make so much money, eh ogm? I've been selling some and buying others. My vip already broke its 50 day avg. so might as well buy something still to go there. My vip from 7.16 was awesome.

Nice buy in the 7s

My average on VIP wasn't that good. Around 11. I just sold half.

Edited by ogm, 04 November 2008 - 12:36 PM.

MCO extremely overbought. Indexes/individual stocks hitting the resistance moving averages that are still dropping.
Overbought is not a sell in my book. Cut the 20dma like hot knife thru butter.
Huge moves off the bottom on many stocks.
That is bearish?
Economy still blows.
Joe Granville used to say what everyone knows is not worth knowing.
Employment report on Friday will be a reminder.
Market looks ahead.
Election releif rally is about to stall.
How do you know that?
You were early picking this bottom and now you are early picking this top.....

Oh, forgot to add one more... Traderpaul turned very bullish

Sure I may have been early with the bottom picking and I may be early with the top picking. Its all about what I made in between that matters to me.

I'm not picking the super duper final top here. But ST, we're way overdone. Unsustainable. Not when a lot of stocks have doubled or more since the bottom in just 6 days.

Nothing has changed in the world that made those stocks to drop by 50% in 2 weeks prior, and nothing has changed to make then double. The world is still the same.

If you have a broken leg and you and everyone else knows about it, doesn't mean that you can get up and start running around. The leg still needs to heal and it takes time.

Edited by ogm, 04 November 2008 - 12:42 PM.

MCO extremely overbought. Indexes/individual stocks hitting the resistance moving averages that are still dropping.
Overbought is not a sell in my book. Cut the 20dma like hot knife thru butter.
Huge moves off the bottom on many stocks.
That is bearish?
Economy still blows.
Joe Granville used to say what everyone knows is not worth knowing.
Employment report on Friday will be a reminder.
Market looks ahead.
Election releif rally is about to stall.
How do you know that?
You were early picking this bottom and now you are early picking this top.....

I understand the counter balance stuff, but early?
Here's a trader (OGM) who has consistently been brilliant with his stock picks and market direction calls.
He scaled into stocks wildly oversold stocks methodically over a period of a few weeks. I wouldn't label that as "early".
Are we aware of anyone here who picked the exact bottom? Would that really matter in this environment?
This is a great board. Lots to learn all the time.

I'm with you. I booked out at the 10:45 AM fix. 20ma summation is maxed out, unless we're actually initiating a brand new bull market. And I doubt that. Time for a more significant pull back than yesterday's.

I made money on the down side and made money on this up swing.....Called the bottom and traded the bottom.....Is my timing that bad?

Canadian dollar..."IF"an ABC...today's high was exactly a C=A....may just mean that the commodity rally is done too if it turns down in earnest here..

TWT
http://stockcharts.com/c-sc/sc?s=$CDW&p=60&yr=0&mn=1&dy=0&i=p83415879688&a=154013256&r=6544.png

Edited by Teaparty, 04 November 2008 - 04:40 PM.