6 replies to this topic

[Tor]

Ive been looking at a load of charts and it looks like clear breakouts (who knows maybe fakeouts) in all of them. SPX, NDX, INDU, a load of stocks. What is barish about this???????????? In the 3rd yr presidential cycle June is the strongest month and next week strongest week. I think the bears are in real trouble!! YIKES. I am long, with a tight stop. I see the risk, but tyhink its worth taking. If we reverse, I stop out or go short. Until then I am LONG. Thank you for reading.

[CLK]

The Feb. drop came in at oversold daily and hourly readings, right when traders were taking the normal long position for the reversal. Right now could be the opposite.

[Tor]

I ask the bears what they see and no one says anything. I just cant see it. Parhaps Im being dumb. i HAVE AN open mind.

[raleigh]

Simply that dizzying heights cause nose bleeds that may cause exsanguination.

Edited by raleigh, 02 June 2007 - 04:42 PM.

[Tor]

Fair enough. who knows. will just see.

[Jnavin]

Tor, from an Elliott Wave standpoint, we've had a clear 5 waves up from the lows. Fibonacci mathematics applied to price patterns suggests we're in the area of near-term high. Tony's work at Elliott Wave Lives is strongly suggestive of this and I see it in the work of other e-wavers. I think even the Chief might agree on this one, as bullish as he is longer-term...weird wolly wednesday coming up soon and all.

[Tor]

Fair enough, but I have hear about 5 waves up for about a month. So, the market must PROVE IT, otherwise it is just a myth/illusion IMO. like I said we will see. I have been taking long positions with tight stops for a while. I feel quite guilty as it is effectively free money. Unless there is an enormous gap down, I cannot fail but to win, as on my first loss, I stop doing it. I am risking 5 points per go. Lets say we reverse next week. I have a stop loss in at 1520 cash market. Good trading to you.