mksloth Posted February 26, 2003 Report Share Posted February 26, 2003 The End, you've got to work on your prediction skills man. Last night you said 839 would be the top today on $SPX. Dammit, you missed by 0.58 - fell below to boot. This may be close enough for government work, but we expect better, even if it comes after several Rolling Rocks. Now get to it :grin: :grin: Link to comment Share on other sites More sharing options...
brian4 Posted February 26, 2003 Report Share Posted February 26, 2003 I'm like that old Gene Autry song-"I'm Back in the Straddle again". It was a KACHING day for me today-when I saw the roll start I closed some of my most profitable puts for good coin and grabbed a Mittful of March 825 calls at $27.90 and they closed at $35.-. Soo I am still 2 to 1 net short but straddled and will make some coin on the short upside i BELIEVE this reversal will have. Let's talk about said reversal today was an inside day lower low and higher high generally quite bullish-but it smells like rotting fish! If you use candlestick charts like I do you would have seen an all engulfing candle that looked like a nuclear explosion on all the indicies as Da Boyz implemented the latest plan-you can't turn an Aircraft Carrier around in a bathtub -BUT THEY DID! Bob Carver over at Marketclues.com has an excellent frothing at the mouth rant about todays interference. He points out they poured so much money into QQQ calls that the dollar amount in Q's exceeded the $ amount in OEX for only the second time ever-the first time was the rally jam after 911. Now these BOZO's can't stop the rain but they can delay it-I suspect this may be the pre war ramp as the new moon is only a few days away. So somewhere between here and say 870 (I would be surprised if it got that high) it will be over. So protect yourselves hedge, fold or if you are out till April stay the course-you should be O.K. Yes it could be over tomorrow but at the mo it looks to me that they will try and push it higher. Gold looks to me like it is hammering out a good bottom here so yes I have been nibbling. Mousey you are right but non urbis carborundum (don't let the bastards grind you down!) Trade Safe! Link to comment Share on other sites More sharing options...
alborz Posted February 26, 2003 Report Share Posted February 26, 2003 After an "inside tip " on CC that cost MOB 40k, he is back in action from a much needed vacation. No problems though, Mob has learned to take advice from only himself from here on out. Mob is going short AMZN and YHOO for the full long term tomorrow...not 1 or 2 points , but an all out tankage. Something ominous is brewing, and the hype from the Financial news and very low upside volume is speaking to me.....A gap down is coming...Not because MOB has a "feeling"(well he does) or because he wants it to....its just coming and it is going to be like nothing we ever seen before. I wish the govt could let us go into a recession and accumulate cheap shares of stocks, but the fact is they are adamant on holding this thing up short term and in the next 2 years putting us into a full out depression. Sun v Beeches....Mob will be shorting any rallies from here on out with a vengeance.....especially the DOW stocks like IBM...AMZN and YHOO should be shorted and held , regardless of rallies, until they are halved...this is the last chance to make money, and everyone knows it....hence, the rallies on miniscule volume....MM and funds are hoping to get shorts to cover early and suck in new longs before the devastation Mob, welcome back. Question for you - remember ZMH? You had it on your short list some time ago. It has broken out and is at 52 week high now. What's your take on it now - stay away or short? Link to comment Share on other sites More sharing options...
Guest Posted February 26, 2003 Report Share Posted February 26, 2003 Brian, while my feelings of outrage at the goobermint manipulation is high, I'm as cool as a cucumber regarding my position. I too made money today. :wink2: Link to comment Share on other sites More sharing options...
PileDriver Posted February 26, 2003 Report Share Posted February 26, 2003 Funny, you'd think gold was in a bear market and tech wreck stocks were in a bull market. In the ST that may be true, But in the LT we know better - riiiiight Stoolies?! Perhaps we go nowhere for awhile... http://www.internetstockreport.com/close/a...1607641,00.html Fine by me cuz when you're holding short a portfolio of pure dung that has about one-in-a-million chance of making someone who was long them profitable then I have absolutely no worries about being short them in a SWUP to drip-down market. Especially since most have been pounded to the point-of-no-return giving me a 25% cushion to flip the bird at the jerk-me-around days like today. Ratchet-down [portfolio] theory. "The plane has taken off, you may now remove your seat-belts and are free to move around the cabin." Welcome back Mobs, was wondering where you were. Read Jesse Livermore's - World's Greatest Stock Trader, would have saved you that 40K :wink2: Link to comment Share on other sites More sharing options...
phatbubble Posted February 26, 2003 Report Share Posted February 26, 2003 The Three Wedges A Bedtime Story by Phatbubble once upon a market there were three wedges: oopy goopy and shmoopy one fine market open when their Great Grampa Wedge was dandling them on his knees, he smiled down at the three little wedges and said in a Big Grampa Voice, "well, my little wedges, have you figured out what kind of wedges you are?" the three wedges looked at each other and scratched their declining angles. "no," they all said together. "i'll give you a hint," said Great Grampa Wedge. "look at your little green rings." the three wedges stared at their green rings and then looked at each other with wonderous looks and widening smiles. "hoorayyyyyy," they all yelled together. "we're bullish wedges! we're bullish wedges!" and with that, oopy, goopy, and shmoopy scrambled down and went scampering off, as Great Grampa Wedge smiled after them with a big wedgie smile. *** next time: do the three little wedges turn out to be bullish wedges???? to be continued....at the end of Mark to Market ....or, in a little while Link to comment Share on other sites More sharing options...
FauxCaster Posted February 26, 2003 Report Share Posted February 26, 2003 Mark, Those fidelity funds aren't new. In fact, they are fund of funds that are composed of assest allocations of other fidelity funds. (although none of them include a gold or commodity fund). One stop 401k, no anxious decisions on whether to be in the Fidelity Magellan or Spartan, just pick you're retirement and the fund-of-funds will do the work. I don't know how Fidelity is spinning them as new, they've been around. Link to comment Share on other sites More sharing options...
Cassandra Posted February 26, 2003 Report Share Posted February 26, 2003 Mark, Was the Fidelity ad the one with the Oriental babe on a leather couch with her legs spread? That'll certainly get one's attention. Link to comment Share on other sites More sharing options...
SideshowBob Posted February 26, 2003 Report Share Posted February 26, 2003 Thanks to Woody on Traders-talk for reminding me to check this indicator: http://www.decisionpoint.com/affiliate/pc.html Note the 10 day OEX put/call ratio is spiking higher (now is the highest it's been since the March bear slaughter last year) while the 10 day equity put/call ratio is dropping (to some extent this is influenced by those QQQ puts, so this is not as clear cut as I'd prefer, but it's a definite bearish sign). That said, I may close shorts tomorrow as we may get a similar ramp job to last March, leading to the mother of all tops..... SB Link to comment Share on other sites More sharing options...
BAREister Posted February 26, 2003 Report Share Posted February 26, 2003 "printing and IMAGINinG division" is more like it!!! LOLOL Link to comment Share on other sites More sharing options...
rog Posted February 26, 2003 Report Share Posted February 26, 2003 anybody know best way to play canadian $ or aussie $(i have FAX) or Yeni tried punching in CANDLR1 for can$ on etrade..no luck.. anyway to buy currency through etrade or ameritrade..dreaming i guess euro seems stuck... as for GG http://www.321gold.com/editorials/ackerman...an/current.html i sold GG at 11.30 a hidden pivot on the breakthrough and then it tried to go up past it and it was stuck at the 11.32 pivot-Ackerman seems to think 10.45 is in the cards- scary looking bear flag on the $HUI projects to 122ish i ambuying there.. interesting currency intraday support and resistance http://phillip.globalmarkets.com/fx124.htm Try Bamex.com You can deposit US$Peso and exchange for any other currency without charge. Link to comment Share on other sites More sharing options...
MrHanky Posted February 26, 2003 Report Share Posted February 26, 2003 same old spin,day after day...the headline from marketcrotch in huge bold type... February 25, 2003 7:52 pm ET H-P's net profit up 49 percent Link to comment Share on other sites More sharing options...
wndysrf Posted February 26, 2003 Author Report Share Posted February 26, 2003 Phat: Let me guess: First wedgie (oopy) was 20 days after the March Madness highs on the Nasdaq. Buddha's Blow by Blow on April 1: "All I see is constant rotation of frantic money in the Nasdaq, no commitment whatsoever at all, easy news spooking of all issues, best way is to stay out and daytrade with smaller lots, not risking capital while Houses issue their manipulations, News oscillates Market like huge sheet of aluminum struck by a baseball bat." Second wedgie (goopy) was the June spike on the Nasdaq after the "Black is White" "broken chart is fixed" May explosion. Buddha's Comment on June 14: ?Crazed open, best entries are for sure at the time turns when one sees ticks at -1,000. This provided a 25 point low risk bounce and occurred just as leader on trading site was warning people about more possible selling, continues to be contrary indicator intraday. So many games, tiresome really. Broker had all wrong quotes constantly over last week in QQQ, nearly impossible to fill an order, if someone doesn't get you coming they try and get you going. Paranoia is the unfortunate and essential ingredient to good trading, wreaks havoc in personal life however, my dog now is possible collaborator with the Specialists, one bark and he is signaling to Mort Silverstein down on floor of Exchange that I am long, two barks mean I'm short, I must check His fur daily for hot wires and microphones. Best to merely sell into all expansion candles and take what feed is thrown out onto floor. Art Cashin last seen overwhelmed by huge expulsion of Methane onto trading floor, ambulance called in, subject revived and now back to trading heavily in the gold pits. Other younger neophytes not so lucky, death toll amongst 27 year old fund managers continuing to mount, only a matter of time before JanesAnus the once proud mutual fund of the go go era will be sewn up and given colonoscopy bag.? Last wedgie (shmoopy) is the recent decline on the Dow from the January highs. We are now suffering from that aftermath. When will it end? Link to comment Share on other sites More sharing options...
PileDriver Posted February 26, 2003 Report Share Posted February 26, 2003 Mark, I think you nailed 'em. None are bullish...bwhahahahaha. Link to comment Share on other sites More sharing options...
PileDriver Posted February 26, 2003 Report Share Posted February 26, 2003 Check out the sudden woodie in futures http://money.cnn.com/markets/morning_call/ Ha, ha, what a blatant joke Link to comment Share on other sites More sharing options...
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