41 replies to this topic

[arbman]

I covered now, but I think it is way too early.

[rkd80]

I covered now, but I think it is way too early.

Looks like everyone made money off this intra-day decline. THat is why I am not an ST trader

Let it bounce around for now, healthy really, we will be back tomorrow for more of the same I suspect.

[arbman]

TOMORROW GAPS DOWN BELOW 875

[rkd80]

TOMORROW GAPS DOWN BELOW 875

That is a very bold call and will usher in the IT move that some of us have been waiting for weeks now. Proverbial flood gates will open.

[arbman]

I cannot think of a better reason why or when this may otherwise happen...

[rkd80]

I cannot think of a better reason why or when this may otherwise happen...

You will not hear objections from me friend, in fact I will finally breathe easy and be profitable on these IT positions.

[arbman]

Congrats good luck with them, there were two serious support levels that need to be broken. The market closed below 894 and tomorrow it will most likely jump the creek down below 875. This will be a very quick correction (aka crash) and it would be somewhat bullish... It will remind everyone to BUY US TREASURIES FOREVER!

Edited by arbman, 27 May 2009 - 03:10 PM.

[CCL]

TOMORROW GAPS DOWN BELOW 875

as Isaac would say, "from your lip's to Gosh's ears..."

Seriously, I'm short AA & UNG; long UUP & SRS.

I agree with Z (how could I not!!) that the dollar is ready to rally. Assuming that's true, basic materials and commodities should nosedive, and both Aluminum and Nat Gas appear to be laggards in this rally. The summation indexes, and the equal for the individual stocks, show that a definate trend shift has occurred.

FF: AA down to 7.5
UUP to 24.6
SRS to 30
UNG to 12.25

All these targets should be hit by 6/5

TWT

[rkd80]

Congrats good luck with them, there were two serious support levels that need to be broken. The market closed below 894 and tomorrow it will most likely jump the creek down below 875. This will be a very quick correction (aka crash) and it would be somewhat bullish... It will remind everyone to BUY US TREASURIES FOREVER!

A crash or correction is exactly what I dont need, I prefer slow and steady down moves. In fact, days like yesterday further reinforce the notion that this is a bear market, because the up days feel corrective.

[BWTrader]

Arb, I told a friend of mine to buy on Friday evening 3/6. He had all day Monday to get in and didn't.
He has asked me every week how I'm doing. Well, what do you tell someone like that who refuses to trade? All I can say is gosh bless this market. Trading ranges, volatility, triples! Wow! Who woulda thunk this back when I started trading in 1996? This is heaven on earth for traders. It simply don't get any better than this, but I always did trade trading ranges better than trending markets anyhoo.

Good luck & don't give up.

BW

I am randomly firing, I catch sometimes 2 points every 15 minutes or so...