DrStool Posted October 17, 2008 Report Share Posted October 17, 2008 Well, we had a false breakout of a nice little 2 day reverse head and shoulders pattern. They sucked in the short term traders and spit them out. Bulls are gonna become an endangered species if this continues. Even short term girliebulls. Link to comment Share on other sites More sharing options...
T_Slim Posted October 17, 2008 Report Share Posted October 17, 2008 whew glad that's over, says the ppt. Link to comment Share on other sites More sharing options...
astral mike Posted October 17, 2008 Report Share Posted October 17, 2008 today's candle played out to a tee... pattern says 3 days of hard down starting from monday... spx also following silver chart fractal... Link to comment Share on other sites More sharing options...
MrHanky Posted October 17, 2008 Report Share Posted October 17, 2008 today's candle played out to a tee... pattern says 3 days of hard down starting from monday... spx also following silver chart fractal... 701421[/snapback] If that is correct,it looks like we will visit around dow 7k on the next leg down...Anyone agree?or far lower Gonna be ugly if we take out the recent lows..... Link to comment Share on other sites More sharing options...
Bungster Posted October 17, 2008 Report Share Posted October 17, 2008 Funny article on Bloomberg.... Lahde Quits Hedge Funds, Thanks `Idiots' for Success ``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. ``All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.'' Link to comment Share on other sites More sharing options...
b1ff Posted October 17, 2008 Report Share Posted October 17, 2008 Well, we had a false breakout of a nice little 2 day reverse head and shoulders pattern. They sucked in the short term traders and spit them out. Bulls are gonna become an endangered species if this continues. Even short term girliebulls. 701404[/snapback] Siddown! Link to comment Share on other sites More sharing options...
sarcastro Posted October 17, 2008 Report Share Posted October 17, 2008 My dream come true- Warren Buffett says buy U.S. stocks! http://www.usatoday.com/money/markets/2008...ks_N.htm?csp=34 It's not my dream come true for the "obvious" reasons- ie. that I think Buffett is some kind of wise sage or some such nonsense. It's my dream because I've been saying FOR YEARS that WB is overrated, and has been lucky rather than good (though lately, he's been neither). Now, we'll find out once and for all! Link to comment Share on other sites More sharing options...
Jetlag Posted October 17, 2008 Report Share Posted October 17, 2008 I guess this will tell us when things get back to "normal" Weekly and linear chart for less drama: Back in March the market actually bottomed when IRX started to tank. Different times... And the even more important market rates: "The cost of borrowing dollars in London fell, capping the first weekly decline since July, after central banks around the world pumped unprecedented amounts of cash into money markets and governments backed loans. The London interbank offered rate, or Libor, for three- month loans in dollars dropped for a fifth day, sliding 8 basis points to 4.42 percent, the British Bankers' Association said. It declined 40 basis points this week. The overnight rate for dollars slid 27 basis points to 1.67 percent, the lowest level since September 2004. Asian rates also fell. " http://www.bloomberg.com/apps/news?pid=206...xk6Q&refer=news Link to comment Share on other sites More sharing options...
DrStool Posted October 17, 2008 Author Report Share Posted October 17, 2008 Funny article on Bloomberg.... Lahde Quits Hedge Funds, Thanks `Idiots' for Success ``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. ``All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.'' 701425[/snapback] How bout a link to that? Link to comment Share on other sites More sharing options...
agent.5 Posted October 17, 2008 Report Share Posted October 17, 2008 How bout a link to that? 701430[/snapback] http://www.bloomberg.com/apps/news?pid=new...id=aLmRPHKZLYmY Link to comment Share on other sites More sharing options...
byhiselo Posted October 17, 2008 Report Share Posted October 17, 2008 If that is correct,it looks like we will visit around dow 7k on the next leg down...Anyone agree?or far lower Gonna be ugly if we take out the recent lows..... 701423[/snapback] IF this plays out and the charts say its a strong possiblilty, i'll be buying DOW 7100 and equivalent DDM, SSO, UWM with both hands near the close on Wednesday...a pukefest like we haven't seen in a long time again, i'm hoping it doesn't happen as a lot of good people will be hurt financially and are going throw in the towel at the bottom and will not be in position to buy back in hoping for the best... Link to comment Share on other sites More sharing options...
Bungster Posted October 17, 2008 Report Share Posted October 17, 2008 http://www.bloomberg.com/apps/news?pid=new...id=aLmRPHKZLYmY 701431[/snapback] Tanks! Link to comment Share on other sites More sharing options...
Speakeasy Posted October 17, 2008 Report Share Posted October 17, 2008 First woman to buy a seat on the NYSE. Yup, she's been dere and done dat, recently a bank examiner somewhere in New York. She's advocating sending Treasury teams thru each banks books and taking pre-emptive measures against the exposive turds on the books and making law the netting out of all derivatives that can be and introducing regulation on any new ones. Protection only if there is an underlying position to protect. 701420[/snapback] Most sensible thing I've heard out of any pundit. There are one or two other folks, I can't remember who, saying similar things. I'm starting to put inn some lo-ball orders for a few miners and odds and ends to catch any capitulation spike-downs. Man, I sure hope Beardrech is catching this long awaited market nervous breakdown. Perhaps he's even able to read the stool some. If so, here's a big wave to you, Brer Bear. Now quit goldbricking and get back to your post. Link to comment Share on other sites More sharing options...
byhiselo Posted October 17, 2008 Report Share Posted October 17, 2008 Funny article on Bloomberg.... Lahde Quits Hedge Funds, Thanks `Idiots' for Success ``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. ``All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.'' 701425[/snapback] 870% last year? i'm sure he's got a job when he is ready, i can't argue with his sentiment Link to comment Share on other sites More sharing options...
Pretzel Logic Posted October 17, 2008 Report Share Posted October 17, 2008 If that is correct,it looks like we will visit around dow 7k on the next leg down...Anyone agree?or far lower Gonna be ugly if we take out the recent lows..... 701423[/snapback] My charts have been so accurate since 10/9 that it scares me. Per my posts, I called the "bottom" on Fri., nailed the top on Tues. almost to the dollar, nailed the drop and retrace Wed. thru today (Phat will vouch for me here). That frightens me, because my charts are still telling me we make a new SPX low in the 600s. The only thing I'm not sure of is if we go down to low-mid 700s, then back up to 1000, THEN down for the final IT bottom. Well, I should say: I'm still not sure of any of it. But that's my best guess. *Disclaimer: No one should listen to me or attempt to trade based on my opinion. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.