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Faith Can Move Mountains

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SG Chimes in

 

As you all know, I called the moves recently pretty accurately using my ewaves and other proprietary stuff culled over the years.

 

Yesterday I said I covered at 1045 my 200% Q's short position.

 

I did not reenter last night at all.

 

Today we see the Q's as my cited resistance of 26.90 this morning...

 

Some gaps to look at today to SHORT into

 

NDX... 1093- 38% retrace; 1105- 50% retrace; 1117 61.8% retrace

 

Above are all from the Monday highs where shorted

 

Depending on this mornings action, I will likely re-enter on this upward re-trace.

 

Cheers and back at ya later...

 

Target on Q's remains 24.20-24.50 within 5-7 trading days or so... after todays corrective move...

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Stoolies,

 

Look at this ECB Jam as "the glass is half full"........................

 

A great opportunnity to short some tulips and ride the next wave down.......................

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Prayer is like TA ... it works except when it doesn't. Yeah, I know, this belongs over on the religion forum. But, then, shouldn't the opening post of IDS focus on the markets?

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I took 20% of yesterday's profits and bought some OEX puts at the close below bid. They are now at the ask so I'll be under water this morning on those. I'll keep 'em for a while and maybe add when we seem to have pooped out again. Numbers tomorrow are expected to move the market big time.

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The run off the October bottom has finally hit the wall, and we're going to exit both our long positions in the Rydex funds at the close today.

 

There is a good chance that today we'll see a bounce, and a good chance it will last through to the close.

 

Following the coming correction, it should be time to get aggressively long, for a larger thrust higher into 2003. The weekly charts are projecting a much bigger move that should carry the markets considerably higher by next spring. 21st Century

 

120502oexsixty.gif

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Glad, thanks for the inspirational post - great way to start the day

 

 

will add more qqq puts this a.m. I think we will close red today or not

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Careful, Stoolies- this cut from the ECB is another big step in the reflation scenario. I dunno jack, but I'd be more aggressive donging gold than I would shorting equities.

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Fokker's getting a new hairdo- the Kentucky Waterfall, as it's known in some circles.

 

Right here

 

Doc, ever visited Nyack? Seen driving near Coxsackie (my name for my younger brother since our first drive-by).

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