I remember trading the dot com crash, and one of the first stocks to roll over was ADI. Too funny to see it drop 10% today-just as I complete taking my short positions. No, this isn't a similar crash coming, but I think the depth of this correction will shock and awe the perma-bulls, none the less. I think some quite volatile days to the downside lie ahead, and that the breadth (negative) and volume-will be much more subtantial than they have been on the helium inspired move up. Good trading to all.
Spooky
ADI and the dot com crash
Started by
thespookyone
, May 23 2007 04:03 PM
3 replies to this topic
#2
CLK
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Posted 23 May 2007 - 04:14 PM
The Dow made a higher high today. My hedge is still on
but this is not the same setup as Feb. 27th.
#3
SemiBizz
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Volume Dynamics Specialist
Posted 23 May 2007 - 04:16 PM
I remember trading the dot com crash, and one of the first stocks to roll over was ADI. Too funny to see it drop 10% today-just as I complete taking my short positions. No, this isn't a similar crash coming, but I think the depth of this correction will shock and awe the perma-bulls, none the less. I think some quite volatile days to the downside lie ahead, and that the breadth (negative) and volume-will be much more subtantial than they have been on the helium inspired move up. Good trading to all.
Spooky
I seem to remember that as well so I looked up the history on it, sure enough on 3/7/2000 ADI did rollover and the Nas went down that day also and the next one before a 500 pt run from there to THE high. We live in interesting times, but not THAT interesting, for sure....
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
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Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
thespookyone
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Posted 23 May 2007 - 05:32 PM
Semi:
Thanks for the date reminder. I only remember the moment, because I had just taken over my fathers porfolio about a week before. we had a deal that when I could out trade him for a year-I would take over his portfolio. He had the same deal with his father, and took over my grandfathers stocks while in his teens-it took me till into my fourties to do the same. I had been a far superior technician to my father, for 15 years or so, but, he remained a better trader. I learned-finally, that you only get paid for good trading-nothing else. Being old school, the PE's then were driving him nuts, and he forced me to take one last trade on his behalf, a fair sized short on ADI-that taught me a bit more. My father passed away a few years ago, but every time I make a large hit-I owe it to him-for making me a trader.
