Howl Posted October 24, 2003 Report Share Posted October 24, 2003 Yes...and that IS an elegant hammer as it hits the lower, uptrending trendline. Just a retest of the broken trendline? Nah.... Link to comment Share on other sites More sharing options...
2 floaters and a sinker Posted October 24, 2003 Report Share Posted October 24, 2003 5 clean touches of the wedge. Wedge breakout. Up to one of the next ma's, retest the top of the wedge then scoot higher. Target 1040-50 Exactly my thinking, 2faas. Then we're probably in trouble. :grin: Link to comment Share on other sites More sharing options...
summoner Posted October 24, 2003 Report Share Posted October 24, 2003 Predictable bounce today when looking at trendlines and the 15 minute chart, dipbuyers continue to buy BS with no fear even after big down days...problem for them breadth and Mcosci did not support todays boner run at the close....lower lows next week...trade safe Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2003 Report Share Posted October 24, 2003 Look at this panic. What a joke. I agree with Downtick. All the histrionics and gyrations notwithstanding, the market closed down today. Nowhere in my work was a big down called for. The MSFT selloff was manipulated, as was the late short covering panic. It means NOTHING! NOTHING! The market is finished, but the Street has more stock to distribute. Get the insiders out and the public in. This takes time, and it takes manipulation. That's their business. It's what they do. Stop acting like it's some big damn conspiracy. It's not a conspiracy. It's just their business. This is the way it works and has always worked since the first stock market in Amsterdam 400 years ago. Go read Confusione de Confusiones and you'll see. There is NOTHING new here. Stop expecting the big dump right now. It's just too soon. Listen to K Wave Rider. The market has to first work its way lower. That will be a gradual process. Be patient, keep the faith. Dip buyers are going to the slaughterhouse one of these days. Anyone who holds longs overnight should be damn scared. One of these late short covering boner runs is gonna open up 20 Spoo points lower on a Monday morning and never look back. Maybe this Monday, maybe not. Sleep tight, bulls. 15 Day Intro Subscribatory. Just $2.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Slothrop Posted October 24, 2003 Report Share Posted October 24, 2003 2faas: lol! No kiddin'. Take a look at KRY. Highly speculative. Weekly bullish engulfing. Better than average weekly volume. Above 50 and 200-dma's. Breaking out of coil on the upside on the daily chart. Please do not buy this stock. Material is for educational purposes only. Link to comment Share on other sites More sharing options...
FeedFool Posted October 24, 2003 Report Share Posted October 24, 2003 5 wave decline. Perfect bounce off the 55 ema. Run back to re-test the highs, then down. Above 1052, will have to rethink. Yes 5 waves done and new high in Nov or H&S Link to comment Share on other sites More sharing options...
2 floaters and a sinker Posted October 24, 2003 Report Share Posted October 24, 2003 5 wave decline. Perfect bounce off the 55 ema. Run back to re-test the highs, then down. Above 1052, will have to rethink. Yes 5 waves done and new high in Nov or H&S Possible Feed. Like I said 1052 spx is the line in the sand for me. I'm thinking a bigger decline is in store here based on the macd divergences, but I'm probably wrong. Link to comment Share on other sites More sharing options...
longOnUranus Posted October 24, 2003 Report Share Posted October 24, 2003 closed 1/2 NOV XAU puts yest, others today, small profit and winding up where we started this weeks down move. I'm happy. Bought a few far-dated puts at the close, may get some Nov calls Monday for straddle. goin to CostaRica and Panama all next week for banana and coffee commodity run (hahahaha). I'm long bananas. Got a few DEC SPX puts in the account which I'll let sit for a coupla weeks. They got an extra hour this weekend to shore up this POS. It's becomng apparent to my idiot brain that this market will eat me alive unless I get futures and after-market capabilities. The NYSE is The Show, the real steamy action is in the dressing rooms and lot trailers/travel buses. The stacked actors are too tired and hung over to perform much during the day anymore. Link to comment Share on other sites More sharing options...
DrStool Posted October 24, 2003 Report Share Posted October 24, 2003 The Street Distributes Sucks Public In Getting Insiders Out Your Anals Fishmarket Wrap is loaded. Take a subscribatory and download RIGHT NOW! 15 Day Intro Subscribatory. Just $2.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
The brown one Posted October 24, 2003 Report Share Posted October 24, 2003 Howl: You mentioned the AEX today and it looked like they were holding it up all day whereas the DAX was much more negative. They closed it at the weekly trendline but after seeing the action in the US today,I'm sure da boyz signalled through to Amsterdam to tell them not to worry as the US would close close to 0. I think that around closing time in Amsterdam the US was about 0.7% down and it's unusual for the AEX to be less down than S&P--so I think they knew the outcome of the US this evening beforehand. Link to comment Share on other sites More sharing options...
Guest Posted October 24, 2003 Report Share Posted October 24, 2003 2faas, I'm a bit confused now. Are you saying, very short term, we hit the bottom today and because we crossed the wedge we are going up to 1040-1050 before dropping again (unless we go further than 1050)? Link to comment Share on other sites More sharing options...
machinehead Posted October 24, 2003 Report Share Posted October 24, 2003 The S&P's bear market low to date on 9 Oct 2002, at 777, matched the DJIA's low of 777 on 12 Aug 1982 when the bull market started. The S&P's recovery high to date, on 16 Oct 2003 at 1050, is within two points of the Dow's previous record high at 1051.7 on 11 Jan 1973. In other words, the S&P appears to be replaying the Dow's old notes from before the bull market started, but in retrograde sequence. The preceding (pre-1973) DJIA low was at 631 on 26 May 1970. That would restore quite of bit of value to the S&P, compared to today's level. And if the dollar loses a third of its value as Sir John Templeton expects, that 631 figure would equal only 421 in today's pre-crisis dollars. Now that sounds pretty reasonable, though I know some hardball, curmudgeonly Stoolies are holding out for 300. <_< Link to comment Share on other sites More sharing options...
Farmer Posted October 24, 2003 Report Share Posted October 24, 2003 Thanks for the Fishwrap Doc. Suppertime in Sas catch a wand <_< Link to comment Share on other sites More sharing options...
summoner Posted October 24, 2003 Report Share Posted October 24, 2003 Should of placed a bet on the Marlins last week in the Bahamas....line was 25:1 on them taking the series when they were down to the Cubbies 3 games to 2. If I had it would of assured all Yankee fans including myself that we would win the series...now Im not so sure...Go Yanks and TRADE SAFE Link to comment Share on other sites More sharing options...
Howl Posted October 24, 2003 Report Share Posted October 24, 2003 Brown one: The Nikkei was also signalling this. It closed about even. About the AEX looking like the pre-crash charts, here is the current AEX chart and a chart of DJI 1929 below. Link to comment Share on other sites More sharing options...
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