5 replies to this topic

[NAV]

DOW posts biggest gain in 4 years. As i said yesterday a move above 1530, bears would be rare species. That was one massive bear cleansing operation. They inflicted some major psychological damage on bears, it appears. On some of the message boards, bears have started fighting with fellow bears Now that we are at new recovery highs and no overhead resistance to deal with, shorting is high risk for me. I will either buy pullbacks or if the move exhausts, i will short it and post it on this board. So far, the move doesn't look like it's over. Again, WOW !!

Edited by NAV, 12 July 2007 - 03:34 PM.

[denleo]

Although some indicators are not as bullish as I would expect them to be after a day like today, most indexes broke out to the upside (broke tripple tops) and it has to be respected. I will be surprised if it fails. We should head higher for at least next few days. I am sure I will get 1570. Bulls never dissapoint. Denleo

[ogm]

CNBC touting this as a huge short squeeze apparently. But I'm not seeing any real bearishness built up. Look at the 10 day equity put call. Its actually pretty darn low. This can easily be a big fake out. Not to say, that it won't last for a while longer. Economy isn't exactly booming, according to retailers.

Edited by ogm, 12 July 2007 - 03:46 PM.

[eminimee]

a few weeks ago I guaranteed spx of 1561.50 .....we took a few dips and doodles that had me flirting with two counts but I did always state support zones that had to be taken out for the count that would see NO NEW highs.....well...all those support zones did hold and looks like the 5th of something big is approaching it's end.....we can top anytime here with a new high....but my guarantee still stands but now has been moved to 1561.80 spx {and guarantee voided if we close under 1517.50 at any point before target..in fact I'll void it if 1525 is taken out before hand } ...by the way....what was amazing is that both counts allowed me to catch the swings over the last two months....not too sure how often that can happen ..... We have a few more decent swings left that can be played and if you notice the lows today on VXO...they are higher than yesterday.....so volatility is still the name of the game. I'm short ES at 1554 and have added to spx Aug. puts near close....I'll be scalping ES but that's my current position.....took heat all the way up to almost 1559 but just had to hang in until 4pm where I thought they'd sell it off a bit......a bit too early on that one...admittedly...hate heat! ...I'll be adding to spx puts...and will probably end up being the biggest position I've ever had ....if 1561.80 is closed above...then if not already long going into that high with ES....I'll be way long and legging out of puts.....then wait for 1590/1600...and dat's da story.

[caspary]

CNBC touting this as a huge short squeeze apparently. But I'm not seeing any real bearishness built up. Look at the 10 day equity put call. Its actually pretty darn low. This can easily be a big fake out. Not to say, that it won't last for a while longer.


Economy isn't exactly booming, according to retailers.

Mmmmmmh - maybe the short hedge funds were short the stock rather than via puts??? Who knows? Anyway, great day for bulls!!!

[bobalou]

nav and tea, good calls