7 replies to this topic

[Mr Dev]

It's a very personal and important thing.

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Another chart to follow

[Mr Dev]

If you are long from yesterdays close or earlier today .......you would do ok to be getting out where yesterdays Longs got in early.... ie no one here at this board of course.... as they may start selling as they almost get back to even and wish they'd shorted yesterday instead. However,... the charts may have a little more left to the upside believe it or not.. FLAT is probably the best place to be...... or a partial short .....because as the Trend has changed the big move has come and gone... there will be plenty of time to ride the new trend.,... if that is what we have. Re shorting any pop Monday will be fine. We have had a large range move..... it may be time to whip those that where late ....by consolidating. Keep that in mind and Trade safe.

Edited by Mr Dev, 08 June 2007 - 02:33 PM.

[relax]

I am really surprised that this move has really managed to change the trend

For my local market wave 5 has now ended and an A B C correction for 2 years should now start

A few days I was sure that we would see new highs - now I believe the party is over - let's see if next week changes my mind

Isn't that what trading is all about, changing your mind more often than an analyst is allowed to

PPI/CPI are so big next week - they could give us 5+ per cent down or stabilize things until next month

For Nasdaq Composite februar top of 2.531 seems to be a good point of reference

Today's move is also extremely strong, yesterday's close was definitely panic sellers

still in doubt guys, let's see next week - a bear for now

Enjoy the weekend;-)

If you are long from yesterdays close or earlier today .......you would do ok to be getting out where yesterdays Longs got in early....

ie no one here at this board of course.... as they may start selling as they almost get back to even and wish they'd

shorted yesterday instead.


However,... the charts may have a little more left to the upside believe it or not.. FLAT is probably the best

place to be...... or a partial short .....because as the Trend has changed the big move has come and gone...

there will be plenty of time to ride the new trend.,... if that is what we have. Re shorting any pop Monday will be

fine. We have had a large range move..... it may be time to whip those that where late ....by consolidating.

Keep that in mind and Trade safe.

[rkd80]

Thanks for all the analysis Dev.

A moot point perhaps, but do you really believe the big move has come and gone? You dont think that the next move down after this bounce will be equally big or bigger?

If you are long from yesterdays close or earlier today .......you would do ok to be getting out where yesterdays Longs got in early....

ie no one here at this board of course.... as they may start selling as they almost get back to even and wish they'd

shorted yesterday instead.


However,... the charts may have a little more left to the upside believe it or not.. FLAT is probably the best

place to be...... or a partial short .....because as the Trend has changed the big move has come and gone...

there will be plenty of time to ride the new trend.,... if that is what we have. Re shorting any pop Monday will be

fine. We have had a large range move..... it may be time to whip those that where late ....by consolidating.

Keep that in mind and Trade safe.

[Mr Dev]

Not taking my own FLAT advice,,... means I'll probably take a little hit on my partial short of the NDX ... but that's exactly why I'm partial..... so there is still twice as much that is ready to rock on any Up move! Have a nice weekend all.. It was nice trading with you,...i hope my thoughts came in handy over the last few days. Now ....time for some fun in the sun ...and sand.

Edited by Mr Dev, 08 June 2007 - 03:00 PM.

[Mr Dev]

Thanks for all the analysis Dev.

A moot point perhaps, but do you really believe the big move has come and gone? You dont think that the next

move down after this bounce will be equally big or bigger?

A Yes that was a 3 day down move that just wiped out at least 3 weeks of gains on the Dow and S&P and that

is a ... "ell" of a big move for 3 days.... ADD to that we just shot up off that low and you add those point to your

gains. Time for a small break!

[thespookyone]

Three to four day countertrend rally here, Mr Dev,then, SHOW ME THE MONEY! Spooky

Edited by thespookyone, 08 June 2007 - 03:17 PM.

[relax]

Cheers da Dev - always great reading your stuff

Thanks for all the analysis Dev.

A moot point perhaps, but do you really believe the big move has come and gone? You dont think that the next

move down after this bounce will be equally big or bigger?

A Yes that was a 3 day down move that just wiped out at least 3 weeks of gains on the Dow and S&P and that

is a ... "ell" of a big move for 3 days.... ADD to that we just shot up off that low and you add those point to your

gains. Time for a small break!