30 replies to this topic

[milbank]

big sign on the corkboard in my trading room:

IN A BEAR MARKET SURPRISES ARE TO THE DOWNSIDE

What a coincidence!
There's a piece of paper on the corkboard in my trading room that says...

"Pick up some Nestle's semi-sweet chocolate chips and a half-gallon of milk."
Must have been put up by my branch manager.

[arbman]

Too many bears, not so sure either...

http://tickersense.t...ary-19th-b.html

[q4wer]

I don't think that we have too many bears. I believe that a lot of bulls are trapped now under water. even the all time bears are long recently. so I think the pop that we got on the last half hour is all that we can get. Net Monday, we resume to the down side further.

[IndexTrader]

Sorry.....I just happen to disagree...........we just put in a very good bottom today.....Monday has the potential of being a very big up day....$#@%^&$& TA...
Here's my TA...


...that seems to satisfy most people....

I think you'll make money personally. But I doubt if we put in a good bottom. I think you'll be scrambling shorting futures against the calls, etc etc before it's all over. That's one negative looking weekly candle.

IT

Here's my technical analysis:

Edited by IndexTrader, 29 February 2008 - 05:44 PM.

[eminimee]

Sorry.....I just happen to disagree...........we just put in a very good bottom today.....Monday has the potential of being a very big up day....$#@%^&$& TA...
Here's my TA...


...that seems to satisfy most people....

I think you'll make money personally. But I doubt if we put in a good bottom. I think you'll be scrambling shorting futures against the calls, etc etc before it's all over. That's one negative looking weekly candle.

IT

Here's my technical analysis:

Could be IT..I just saw something in my TA...have a look...
What do you think?...it's bugging me a bit ...

....in this case...I truly believe this weekend will be worth a weeks worth of fear..

Edited by Teaparty, 29 February 2008 - 05:59 PM.

[IndexTrader]

Sorry.....I just happen to disagree...........we just put in a very good bottom today.....Monday has the potential of being a very big up day....$#@%^&$& TA...
Here's my TA...


...that seems to satisfy most people....

I think you'll make money personally. But I doubt if we put in a good bottom. I think you'll be scrambling shorting futures against the calls, etc etc before it's all over. That's one negative looking weekly candle.

IT

Here's my technical analysis:

Could be IT..I just saw something in my TA...have a look...
What do you think?...it's bugging me a bit ...

....in this case...I truly believe this weekend will be worth a weeks worth of fear..

You could ask this guy.

[Woody]

I'm with Tea, 40% Long.........but Monday is pivotal, we cannot take out the divergent lows on NYMO made on the Jan 22 lows shown on chart below, we can open ugly on Monday but better not end like today or our ABC could be a wave 5 ......

http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&b=3&g=0&i=p66689997860&a=132086329&r=6233.png

[thespookyone]

Nav pointed out: "NYSE Breadth MCO took out the 2/21 lows" For myself, breadth leads price- breadth just spoke. Also, in the absense of posting the smiley and other faces-my spx count is that we were in a small 4 flat that ended in an a,b,c,d,e triangle. After finishing the e, I have a 1 down, 2 up, and 3 playing now of 5 of the larger 4 down. I'm sure Tea can tell me why my count is impossible-he's light years better than me, but, this is how I've traded what I see as the pattern-and so far,so good. When Tea clears up for me why my take has to be wrong, I'll learn from him again-but keep the money I already made. Spooky

[Woody]

Nav pointed out: "NYSE Breadth MCO took out the 2/21 lows"

For myself, breadth leads price- breadth just spoke. Also, in the absense of posting the smiley and other faces-my spx count is that we were in a small 4 flat that ended in an a,b,c,d,e triangle. After finishing the e, I have a 1 down, 2 up, and 3 playing now of 5 of the larger 4 down. I'm sure Tea can tell me why my count is impossible-he's light years better than me, but, this is how I've traded what I see as the pattern-and so far,so good. When Tea clears up for me why my take has to be wrong, I'll learn from him again-but keep the money I already made.

Spooky

Spooky, for now the 02/21 lows are secondary.....take out the divergent lows of 01/22 on MCO and then its a whole new Ball game.....I love counts but they always seem obvious after the fact btw good to keep money you made...I'm giving some back

[thespookyone]

Points well made, Woody-and thx for your take!