7 replies to this topic

[SemiBizz]

Well, there's a slight chance they can still pull this out, I do not underestimate these guys... they seem to have all the stuff they need to engineer whatever they want... gobs of cash, powerful computers, the ability to shut down trading. Leverage. After all they are operating off the profits of all that bogus paper they peddled around the World... Basically, we only have a slight diversion in this tentative channel that leads to a new high by 8/20 (the recovery channel) of course I am betting we're going to fall right through the ice here and right back into the doomsday channel under 2521. But the way they closed it just under the Fib (2557) was "cute". So if you just have to buy, you can buy at the Fib Cross (if we go that high tomorrow) and set a stop at today's low, High potential reward low risk long entry for crazies..

This is NOT Trading Advice... This is pure BULL BAIT. BITE AT YOUR OWN RISK....
WARNING: Today we broke the all time volume low on higher volume... Quality of volume DOWN.

Edited by SemiBizz, 09 August 2007 - 08:57 PM.

[selecto]

Futures are down tonight probably enough to turn the mo upwards in the AM (which I thought might happen late today.) I covered shorts at the close, and have price advancing tomorriow.

[SemiBizz]

Futures are down tonight probably enough to turn the mo upwards in the AM (which I thought might happen late today.) I covered shorts at the close, and have price advancing tomorriow.

Sure, price can advance now that we had one strong down day. We need volume to lighten up a bit... It's going to be completely cruel if we open down 200 again like today, because the had-to-buy-the-dip-and-hold-overnight pigs will be slaughtered... that gets ugly and bloody, and then the volume gets ballistic again.

[ogm]

Here is whats interesting... tremendous volume has changed hands on both sides in the last 8-9 trading days. Quite a few of those candles are green. Who was buying ? If there is no liquidity then why is there such a powerful bid there ? I'm going to stick with what I think is going on and will go on.... People don't want to buy any more CDO's, CMO's and other crap that they can't mark to market, since market there is illiquid. BNP PAribas news today is prime example. They bought it, but they don't know how to value it.... Nothing really haoppened with their paper. And those CDO's were huge sponge for the liquidity. I think stocks will be that sponge now. They are liquid, pay comparable dividends and most of them have clean balance sheets. And they aren't very expensive, especcialy considering that the world banks have probably stoped raisng rates for the time being. I think there is still plenty of excess liquidity from China, OPEC, etc... and it will flow into stock markets among other things. Just as soon as CDO market calms down. I think thats where that massive bid is coming from.

[thespookyone]

Always respect your work semi-and it's good to see you acknowledge the strength of huge money. For myself, I put nothing past them, and NEVER underate their potential to send the market flying, at will. A consideration here, I feel must be potential easy money-for THEM. In my mind, the fastest easiest money is to be made squeezing shorts with weak hands, of which this plunge must have attracted plenty. Big money has shown their ability to throw this market around like a ragdoll time and time again when they so choose. Much like when longs thought they had immunity at the top-I'm sensing the same from shorts here-and when too many people lean one way, and the bus gets too full-my guess is the up trigger will get pulled. Shorts money, longs money-it all spends. Spooky

[SemiBizz]

Well, OGM, then this setup should work for you... you believe in the power of the Fibonacci cluster at 2557 tomorrow, that we closed under it doesn't worry you. Should we open lower, then you just wait for that 2557 to come and demonstrate support, then buy and hold for 2619... That is definitely one possibility for tomorrow... I will sit that long out and patiently short any silly bounce on light volume.

[ogm]

Well, OGM, then this setup should work for you... you believe in the power of the Fibonacci cluster at 2557 tomorrow, that we closed under it doesn't worry you. Should we open lower, then you just wait for that 2557 to come and demonstrate support, then buy and hold for 2619... That is definitely one possibility for tomorrow... I will sit that long out and patiently short any silly bounce on light volume.

I don't trade on Fibonacci numbers. But someone very wise, that I used to trade with used to say... you must cover on big down days. No matter how wrong it feels. And never short fear in anticipation of more fear.

Edited by ogm, 09 August 2007 - 10:34 PM.

[OEXCHAOS]

ogm, That's the truth. You'll miss profiting on ONE crash in a career. You'll gain by not blowing out accounts and losing clients the rest of the time! Mark