wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Looks like new highs are imminent on my ESV. Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Phone stocks are still on fire. Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Nice follow through on that breakaway gap on SNDK. Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Pretty much of a "cataclysmic" event for short-sellers holding utilities betting on a bond market collapse. New, all-time, closing high.... Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Wow, hotel business is great. You would think these stocks would be cratering in a worldwide systemic credit collapse. Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Next up on the Dow Breakout Parade? Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Trannies still looking good... Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Next move is going to be huge. Sentiment is terrible right now on the chip sector. Poor MU, MOT, AMD, etc. What happens when they turn up after the short selling is exhausted? Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Bulge Firms are not backing down..... Just consolidating in a trading range for now.......... Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Easy $12 in just a few days...... Nice.... Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 When this consolidation is finished, Cramer's $600 is probably the next target. Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Shorts who gunned everything on the line on the initial clothesline drop are now in a losing position. What will they do next? Have they been adding new shorts? Or have they been taking them off? Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 Looks like the NYSE in 1928. The harder the government tries to clamp down on speculation, the more emboldened the public gets. Link to comment Share on other sites More sharing options...
wndysrf Posted March 24, 2007 Report Share Posted March 24, 2007 From page 203 of Martin Armstrong's book.......... March 1929, 6 months before the parabolic rise into the September top. "During the last hours of March, the call money rate jumped to a new record high of 14%. Bonds collapsed violently. March had brought sheer devastation to the bond market. Some of the favorite speculative stocks were hit hard. Call money rates continued to climb, and casualties mounted, as some investors were forced into liquidation. But by the end of the day, many stocks rallied sharply, even with the call money rate at 20% as shorts bailed out" "The shorts, made up of "professional" traders, had been convinced that they had picked the top and the ranting of the Fed would break the market sooner rather than later. But as the trading approached the final hour, the stock market rallied again with a vengeance. Pure panic showed in the pale white faces of the professionals as they ran for cover." Link to comment Share on other sites More sharing options...
DrStool Posted March 24, 2007 Author Report Share Posted March 24, 2007 Mark is right. History is replete with examples of markets surging higher for months after the problems became well known and well publicized, such as the US market from March-October 1929. And we all remember that after the Naz got fried in April 2000, the broad market went back up to retest the highs in September. This market is no different. The clock is ticking. I am overwhelmingly long in the WSE Pro chart picks, weighted in energy and tech, but with one eye on the clock, one eye on the charts, and a finger on the trigger. This is one move I would not want to overstay. It's also a move that is likely to be selective, leaving a large number of groups and stocks behind. The utilities appear to be in the end stage blowoff of a mania that has lasted for years. Enjoy it while it lasts. These stocks along with REITs will be the best shorts when this ends. Five months and counting. The weekend WSE Pro market update is posted. Link to comment Share on other sites More sharing options...
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