2 replies to this topic

[tommyt]

I did sell 3/4's of my longs..GS,MCO,LNC,CFC,SPY as we are testing the upper end,13,800-14,000. My initial feeling is we are safe thru expo Friday, as option games go on...no shorting yet, will use a trailing stop for now.

[ogm]

I did sell 3/4's of my longs..GS,MCO,LNC,CFC,SPY as we are testing the upper end,13,800-14,000. My initial feeling is we are safe thru expo Friday, as option games go on...no shorting yet, will use a trailing stop for now.

GE at 52 week high. VZ, T next... this isn't going to stop any time soon, if GE is hitting 52 week high.


GE is covering the broadest spectrum of industries from industrials to financials.

I bought a whole bunch of T and VZ calls today.

VZ 45 calls trading for 45 cents can double easily, if it gets momentum at new 52 week high. Breakout will be probably bought hard.

and T 40 calls at 1.8 same deal.

Edited by ogm, 19 September 2007 - 10:05 AM.

[Sentient Being]

I went long with double my normal positions based on readings I got from a combination tool I use that measures such things as advance/decline, volume, new highs..new lows, etc.

In late july (7-26) it kicked off an "extreme" reading of five. Those readings in 9 out of ten times preceeded a bottom that formed in an average of 2 to 3 weeks. So the signal itself is not a buy, but it's a signal that a bottom is forming and the buy is approaching in terms of time.

I got in late, Several days after the real bottom formed on 8/16. The real bottom by the way came about three weeks after my combo indicator kicked off it's signal. All this I've posted before, in SPY at 146.15 (stop presently at 148) and QQQQ at 46.61 (stop presently at 48.60).

I'll try to post a chart of the combo indicator below.

In only one case was the first high signal really followed by a much deeper low and a repeat signal. In all the others very playable bottoms formed within a few weeks. In one case it signaled a significant top forming. The bottoms seem to attract more extreme behavior than the tops. My opinon based on this, is that we will most likely continue to go higher and that's why, when I got in a couple of weeks ago, I took double positions. I felt the move would be stronger than most. Thus far I'm only up a percent or two at my stops so I'm hoping this thing has further to go so I can squeeze some more profit out of it than my stops are getting right now.

Edited by Sentient Being, 19 September 2007 - 10:30 AM.