brian4 Posted October 27, 2004 Report Share Posted October 27, 2004 The Aftermarket has IMPLODED top 100-up-23, unch-8, DOWN 69-huge losses, Da Bullz are about to have a religious experience Link to comment Share on other sites More sharing options...
Tchaikofsky Posted October 27, 2004 Report Share Posted October 27, 2004 ASKJ down 3.72 ka-ka-ching Umm . . . it's actually down $6.13 from today's close; it's $3.72 from yesterdaze. Grabbed a few poots mid-afternoon for a lark on this one. Thinking like a crook: it was up from $24 two months ago to a skosh over $35 today. Printed the motha of all bearish engulfing candles last Friday. Plus, Doc called the top at $35.20 on Stooltrading today. :grin: Tanks, Doc! Link to comment Share on other sites More sharing options...
The End Posted October 27, 2004 Report Share Posted October 27, 2004 I decided to fly in to NYC for the mtg on either the 11th or 12th.(It better be one of those days). Here is some Arlo. Coming in from London From over the pole Flying in a big airliner Chickens flying everywhere around the plane Could we ever feel much finer? CHORUS: Coming into Los Angeles Bringing in a couple of keys Don't touch my bags if you please Mister Customs Man There's a guy with a ticket to Mexico No, he couldn't look much stranger Walking in the hall with his things and all Smiling, said he was the Lone Ranger CHORUS Hip woman walking on a moving floor Tripping on the escalator There's a man in the line And she's blowing his mind Thinking that he's already made her CHORUS Coming in from London From over the pole Flying in a big airliner Chickens flying everywhere around the plane Could we ever feel much finer? Link to comment Share on other sites More sharing options...
depends Posted October 27, 2004 Report Share Posted October 27, 2004 No little chart tonight and until I get the crashed disk problem fixed. I hope you saw it last night. That dated chart is still in my footer. I wasn't long enough this AM but was lucky with the ZBRA gap down. To stop the bleeding I had to stop out - and luckily got out in time to keep losses as minimal as pissable. Howsomever some shorts did not go up to stops like JCP RCL EYE YELL so I keep them, but certainly not enthusiastic. I am wondering if the big feed is spread out over a few days? Uncle Sugar - the buyer of last resort, a real big spender. Link to comment Share on other sites More sharing options...
wndysrf Posted October 27, 2004 Report Share Posted October 27, 2004 Plunger, check this out....... From Wavestrength Market Report Anatomy of a Prop Job This morning?s most prominent bit of news: OPEC is begging the US to open the taps on the Strategic Reserve. And, as I expected, the herd is treating yesterday?s highs like they were poison. I?m sure by now you?ve heard about how the Energy Department ?found? 900 million extra barrels of oil lying about. You probably think that the ensuing 3% drop in crude oil futures triggered a buying frenzy in stocks. A neat story, eh? I?m sure that by the time tomorrow morning?s newspaper hits your step the insiders will have convinced themselves that it was true. But for now, anyone with access to both the CME and CBOE tickers knows the truth. Here?s what actually happened: As the herd threatened to turn back the clock on yesterday?s rally, someone picked up a phone, called the Chicago Mercantile Exchange and ordered enough near-term S&P Futures (specifically the SPZ 04 Dec 2004?s) to move that asset up more than 10 points in half an hour. The arrival of the news regarding the discovery of 900 million barrels of oil didn?t hit until 15 or 30 minutes after this buy was already underway. And still neither fact actually moved the market for about an hour. That?s just how scary the idea of buying yesterday?s highs seemed to seasoned traders. We?ve been had by the ?The Visible Hand,? folks. I call it ?Visible? because you can see it do its dirty work. The implied reference, of course, is to Adam Smith?s ?Invisible Hand of the Market?: the action resulting from the natural and normal give and take between the bears and bulls. And just to ice the cake, they did it again around noon: at 11:45, the S&P threatened to give it all back, seemingly against all common sense, ?The Hand? bought even more futures contracts. And again it took the market an hour or more to respond. Funny what can happen to the market seven days before a deadlocked election. Well, not too funny in the laughing sense. There is an axiom in this business: Any time they try something unusual more than once or twice it becomes both usual and tradable. Having been nailed several times in the last few years by this sleight of hand, I am developing a trading method for Professionals to capitalize on it. The trick will be to watch the CME?s futures in real time and buy the 10-point gaps that develop as the main market stares in astonishment. ...allow me to turn things over to WaveStrength Apex member M.B., who, like me, watches the markets all day long. Here?s his take on the situation: ?Hey buddy - I?m standing here bloodied from this knee-jerk in the futures pit. Not even Crown can kill this pain. First time in a long while. But I?m closing the 1,075 November put sale for I believe we fall from here or stick here till after the election. And if no one believes in manipulation then the last two days would be a great opening for discussion. The amount of contracts popping in at key points is totally amazing to me, something I have never before witnessed." Link to comment Share on other sites More sharing options...
Brisbane Bear Posted October 27, 2004 Report Share Posted October 27, 2004 it is a testamount to our resolve and strength of character that any of us bears are even still around considering what we have been through the past 4 years. We are living through the most extraordinary times imaginable,just the daily fluctuations alone would be enough to destroy mere mortals. These markets are incredible,we go from being snarling bearish to outrageously bullish to snarling bearish within 2 days,it is just bizarre.I have never seen anything like it.The change in sentiment is just so extreme. I took a large short position yesterday,will obviously take a hit today,but I am going to stay short until the election.Nothing has changed in the world,things are as crook as ever,I suspect chaos will be the order of the day and as such stocks will be slaughtered. If I am wrong I will just get on with my life and business. Not long to wait now...6 days and counting.We have front row seats to history being made.Most in OZ are still just deciding on what to wear to the Melbourne Cup (horse race) ... Link to comment Share on other sites More sharing options...
Ned38 Posted October 27, 2004 Report Share Posted October 27, 2004 Scary Link to comment Share on other sites More sharing options...
Guest Posted October 27, 2004 Report Share Posted October 27, 2004 Wndy: Thanks for passing that along. Anybody who can deny the manipulation is just not paying attention. Hearing directly from the Pros in the trading pits is confirmation. When you see outrageous activity that is historic in nature and totally contrary to logic...then you hear it confirmed by the Boys in a position to know...you can simply take it to the bank and know that it's not about Conspiracy Theory - it's a fact. I appreciated seeing this guy's use of the term "Visible Hand" - a phrase I've been using to describe the actions of 990N on the spoos. It's far more effective to make bold statements with these manipulations and make it intentionally obvious to all that Big Brutha Is In Da House! Once you teach the monkies to flinche when they see your footprints, it doesn't cost nearly as much as it did today to start a countertrend and send the monkies running for cover. One of the best tools for timing these manipulations is this board right here. When you witness the brute strength of these forces, crushing gold while the dollar tanks, crushing oil on a pack of lies, defying gravity and logic at will...it sends precisely the message they desire..."The Market Will Go Wherever We Want It To, Whenever We Want It To Go There. We Will Pick Your Pocket At Will." All Whipsaw - All The Time. The mood swings are being counted in minutes now rather than days. Daytrading is a thing of the past for most, as a stop is simply there for the taking. Buy and Hold is the only strategy allowed. Long Live The Matrix. The Market Is Dead. Link to comment Share on other sites More sharing options...
RockLedge Posted October 27, 2004 Report Share Posted October 27, 2004 Don't shoot the messenger. Everyone has been expecting a hotly contested election, results perhaps not known for days or weeks, Supreme Court involvement. Or, a clear Kerry win ("landslide") -- all kinds of "wait till after the election" bear talk. What if it's a clear victory for Bush? Hello, Dow 11K? Actually, until the next war starts, the market may actually do better with GWB because of his inflationary biases. However when the next war is launched, its costs may be the last of a high pile of straws that may finally break the back of the credit market camel. Actually, I think if Kerry wins, the markets will rally. American's will validate the red neck agenda from being a fluke, to the real thing. The rest of the world is very clear what another 4 years of Bush means to them. Uhhh,.. I'm seeing & hearing we have a little more crude inventory. So have the refineries boosted throughput to meet demand or has Jane & John started to conserve? Let's see how long the extra crude inventory exists. I wouldn't expect the price at the pimp to come down anytime soon. Link to comment Share on other sites More sharing options...
The End Posted October 27, 2004 Report Share Posted October 27, 2004 Maybe Larry T is 990n. He called for a move to 1125 today (last night) Or maybe it is Jim curry who said we should be at 1130 by the end of Oct (last Sunday) Or maybe it was Glenn Neely who said on Sunday The market would rally 20-40 points. Link to comment Share on other sites More sharing options...
machinehead Posted October 27, 2004 Report Share Posted October 27, 2004 A team of doctors has arrived at Yasser Arafat's headquarters in Ramallah where the ailing Palestinian leader's health has significantly deteriorated. One cabinet minister, who asked not be identified, told Reuters that Mr Arafat, 75, was "very, very sick". Health problems So Palestinian leadership is up in the air at the same time as U.S. leadership. The succession struggle could be messy in both cases. The perfect storm approaches ... Link to comment Share on other sites More sharing options...
soup Posted October 27, 2004 Report Share Posted October 27, 2004 End: Sorry I have to disagree with your dissing of the manipulation. Today and yd it was obvious if only anyone opened their eyes. Hell, I started to feel it Monday and lightened up. This has fido et all written all over it, desperately trying to save the year and fuly sanctioned by the fed and the SEC. Sometimes I want them to fail so badly emotion clouds my judgement. Having worked on wall street and on the buy side the only suprise is how far out of hand it has gotten. THe pools have never been stronger. Never in my wildest dreams would I have thought they would have pushed it this far, but clearly we are in an enviroment where they know the fed and the SEC will turn the other way. Link to comment Share on other sites More sharing options...
The brown one Posted October 27, 2004 Report Share Posted October 27, 2004 OT but since when were the Amish in the US Army--or do they care for the horses? Gotta larf eh! Link to comment Share on other sites More sharing options...
Guest Posted October 27, 2004 Report Share Posted October 27, 2004 Maybe Larry T is 990n. He called for a move to 1125 today (last night) Or maybe it is Jim curry who said we should be at 1130 by the end of Oct (last Sunday) Or maybe it was Glenn Neely who said on Sunday The market would rally 20-40 points. Which came first, the expectation that the markets would make those moves based on the chart work and the gurus you mentioned, or the massive amount of BS that hit the tape today that tanked the price of oil? Obviously the technical analysis provides a backdrop against which such manipulation can be most effective. Did any of these gurus call for a $2.50 drop in oil today? The market is moving based on the price of oil....clearly. Link to comment Share on other sites More sharing options...
soup Posted October 27, 2004 Report Share Posted October 27, 2004 Remember what solly got busted for? Manipulation of bond auctions, they threw out current mgmt and in came Warren Buffett? Let me tell you , what they were charged with was childs play relative to the other crap that was common. Bottom line: This mkt is too important to be left to the decsions of the partici[pants. Hey, they will fail miserably, but in the short term they can cause a lot of pain. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.