fxfox Posted December 27, 2002 Report Share Posted December 27, 2002 I am starting to here of friends/friends of friends placing GMTFO , "sell everything" orders. Not tax related, "just tired of dealing with it all" is the main response. This may accelarate the decline in the next few days, but the BOYZ will not let it fall too badly yet. Still looking for a small rally to mid/late Jan, starting 1/2-1/6. 80% cash, 10% short various equities, long a few OTM Jan SPX calls. Wont make a trade until 1/2 at the earliest. no doubt they make $ jamming which would be quite resonable: espacially yen and gbp are near major support or ressistance levels, gbp has a 22 year long downtrendline at around 1.6250, currently it trades at 1.6010. Yen has a uptrnedline from 1995 at around 117 rigt now. This fits quite good with docs target for dollar index, once target met, dollar will retrace, after it did retrace another steep downmove will begin, and long term trendlines will be broken. Link to comment Share on other sites More sharing options...
Guest Posted December 27, 2002 Report Share Posted December 27, 2002 CBOE Intra-day Put/Call Link to comment Share on other sites More sharing options...
Goldmember Posted December 27, 2002 Report Share Posted December 27, 2002 Paul McCulley at Pimpco laying down the smack on Procto about Greenspan running the printing press red hot and complete policy aversion from fighting inflation to trying to turn the Titanic. Inflation be damned at Sir Printsalot Inc. All out war against deflation and red hot presses equals gold doing it's wild thing. Kind of interesting to hear the Pimpco boyz singing the stoolie toon on Procto. Right at the open window here at the end of the 10-13 week cycle the financial infomedia is all negative. Is this the subtle nudge for John Q to sell and then the lipstick on the pig goes on for the new year. This cycle will end it's downphase when Abby comes out gloomy and talking about fear and bears just to shake out John Q of his stockholdings for GS to accumulate for the lipstick treatment. Link to comment Share on other sites More sharing options...
Bizarro-Greenspan Posted December 27, 2002 Report Share Posted December 27, 2002 Roger Bentley Arnold's daily massage,could somebody post this please. Miss rog's daily message.too. Link to comment Share on other sites More sharing options...
Bird D Durr Posted December 27, 2002 Report Share Posted December 27, 2002 WHERE THE HELL IS WILSON? RANDOLPH WE HAVE TO SELLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL Link to comment Share on other sites More sharing options...
fxfox Posted December 27, 2002 Report Share Posted December 27, 2002 euro kissed 1.04 Link to comment Share on other sites More sharing options...
rog Posted December 27, 2002 Report Share Posted December 27, 2002 Feb Gold $350.30 Link to comment Share on other sites More sharing options...
PileDriver Posted December 27, 2002 Report Share Posted December 27, 2002 Turn UP the pressure cooker on Al! Link to comment Share on other sites More sharing options...
GregFokker Posted December 27, 2002 Report Share Posted December 27, 2002 The US Dollar Credit: http://quotes.ino.com Link to comment Share on other sites More sharing options...
Ned38 Posted December 27, 2002 Report Share Posted December 27, 2002 CALVF now 29.5 X 30 Link to comment Share on other sites More sharing options...
sniff Posted December 27, 2002 Report Share Posted December 27, 2002 I have 884 fib retrace .786 on the S&P 60 min chart. So, I will be watching to see if price stays below that level. If a close below 884 I think very good for bears...considering this is low volume, tape painting time, everything questionable....imo Link to comment Share on other sites More sharing options...
Metamucil Posted December 27, 2002 Report Share Posted December 27, 2002 Drano, You are correct about shorting individual biotechs; the 'event' risk is higher than in most other sectors. I don't short individual bioturds very frequently. The setups must be damn good....like in 2000 That said, I am a heavy shorter of BBH (since $150). This is a much better and safer way to game the sector. It obviously insulates you from the individual horrorshow moves...and produces a steady flow of green stool :grin: Most importantly, Doc covers the biosuctor index.....and this vastly improves my BBH trading (check it out; I like the look of the longer cycles topping out). Not sure I like trading without Doc's Cmaps, these days. I'll try and highlight the better individual short setups...from time to time,.....as they come through the specfolio toilet. PileDriver also digs up some good bioscum, and I think he has a few individual floaters lined up. BBH is headed for another breakdown....quite soon. monthly BBH AMGN is the 50% driver of BBH. I look forward to its rightful return to salmon country....below the 30 week MA. The bear wedge should do it. weekly May 1010 NDX fall asap. Link to comment Share on other sites More sharing options...
Goldmember Posted December 27, 2002 Report Share Posted December 27, 2002 fxfox- I see the same thing. At the same time gold will reverse as the dollar rises and coincidentally the 10-13 week S&P cycle will turn up at the same time. I certainly don't expect any explosive action as the trends change simultaneously. First week of January or so Long the buck, long stocks and short gold for two weeks. Triple play. After that? Cross that bridge later. Let the lipstick on the pig be profitable. That is how I see it anyway. Right into the first earnings warnings early mid January. War clarification by then should begin to emerge, and gold will be due exactly at that time to accelerate it's ascent again, if it drops at all in the meanwhile. Link to comment Share on other sites More sharing options...
Guest hemroid2 Posted December 27, 2002 Report Share Posted December 27, 2002 "geopolitical problems" what a crock...like there werent problems a few months ago Link to comment Share on other sites More sharing options...
fxfox Posted December 27, 2002 Report Share Posted December 27, 2002 goldmember, exactly. I will go long dollar if i get good signals, i never had a probelm to short something which is Dover Sole like hell, i only need confirmation, thats all. Euro rally reminds me of usdjpy rally last year. Exactly at the time when everybody thought "oh man, that thing will fly to the moon" it retraced. Last level where traders did go long euro heavily was at 0.96, now we are at 1.04, thats 800 pips, for a n intermediate term trader that is quite some money. RE: GBP, can you imagine what happens when a 22 y3ear long downtrend will be broken? Mon dieu! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.