Charvo Posted July 25, 2003 Report Share Posted July 25, 2003 I don't think one should attribute that much significance to trading on a Friday especially after the 1st hour and a half of trading. Look at the previous Fridays in which there was strong move in one direction. It was reversed on Monday and more. Today reminded me of the opposite of July 3rd when there was a new high established in the morning, but the market makers jammed the indicies down to close at the lows to trigger sell stops. Look at last Friday's trading when the NDX made new lows in the morning but squeezed into the afternoon when only the market makers were left trading in the pits. The stronger the squeeze, the stronger the desire to hit those buy stops. Link to comment Share on other sites More sharing options...
strikerm3 Posted July 25, 2003 Report Share Posted July 25, 2003 What was the huge bearish bet I heard about on Crapvision this morning? Link to comment Share on other sites More sharing options...
Quicktrade Posted July 25, 2003 Report Share Posted July 25, 2003 A throw away day-impressive?- sure- but we are still in a trading range between 9075 and 9300 with the top having been put in on June 17 at 1015.33 on the Spoo's. Pls Note another all time low on the VIX today low 19.86-close 19.94. We are setting up for a massive down move here, that can come anytime. That top at 1015.33 as I've said before is the maginot line and has held for well over a month-stay SHORT-I AM-Trade Safe! Brian, I agree with you on almost all points except that 1015 being the top. Question, where is the stop on your short position? I think we get some good gap up action above the 1015 area in order to take out all the shorts stops. I know you probably aren't too concerned about a top being 1015 or 1050. Close enough for government work. Just my opinion Quicktrade Link to comment Share on other sites More sharing options...
BusKow Posted July 25, 2003 Report Share Posted July 25, 2003 S & P ... today closed above yesterday's high on increased volume. Mark, Can you show your numbers on this? I have today's close at 998.68 vs yest.'s high of 998.89. The chart you point to shows today's vol. as less(?). I won't get today's vol. until tomorrow on the service I regularly use. I will feel better if they couldn't get to the highs on higher vol. Or if it's a lower high on less vol. TIA Link to comment Share on other sites More sharing options...
bubbadropping Posted July 25, 2003 Report Share Posted July 25, 2003 As usual, I agree with Windy. Plenty of running room North as the EOM forensic play fulfils itself. A basic double bottom held on the Crack Comp 10 day 15 minute chart, my only reliable chart of reference, my true blue. When this is accompanied by a double bottoming of the Macd and a crossing of Macd lines it acts as a loud starter pistol for Greyhound traders who have been muzzled over the previous 2 days. Who cares if the dogs run over one another, leap the markers and careen across midfield, some of them stopping to take a steaming dump, others mounting one another in same sex fury??? It matters not. The bull trend of buying mania remains and the only breakdown of importance will be the one you see in your rear view mirror, weeks after the actual event. So many still calling tops in the Crack Market, so many fashioning scurvy ass toupees for the Horned Bull. The Runs of Pampaloosa or wherever come to mind. best to all Riverboaters. Anybody see those sick late night TrendTrading Ads on ProctoVision? This Bear still hibernates as long as that pitchman Waxie is able to shuck and jive. buddha Link to comment Share on other sites More sharing options...
The End Posted July 25, 2003 Report Share Posted July 25, 2003 Neely had his stop today at 999. The high was 988.71. If we go down from here, he has made yet another great call. Sold my remaining calls today. I did not expect this move. I believe it was news related and will be corrected next week. Have a great weak- end stoolies. Link to comment Share on other sites More sharing options...
The End Posted July 25, 2003 Report Share Posted July 25, 2003 We did not break yesterdays high on the spx nor the ndx. I don't care about the dow nor do I know if it was broken. Link to comment Share on other sites More sharing options...
The End Posted July 25, 2003 Report Share Posted July 25, 2003 A look at the futures Premium again. Notice even with the sad-damn body guard news the futures where dragged up by the CASH index and still did not get above zero all day. This is BEARISH. Link to comment Share on other sites More sharing options...
BusKow Posted July 25, 2003 Report Share Posted July 25, 2003 Art Cashin on CrapperTV saying he can't figure today's action, but if he had to describe it, some small short(s) waiting for good prices was finally forced/decided to cover. Says big data week next week, particularly employment numbers. Link to comment Share on other sites More sharing options...
The End Posted July 25, 2003 Report Share Posted July 25, 2003 Foaming at the mouth To drunk to walk up the stairs Bearish till I die Are you serious? Bearish till you die? Regardless of circumstances? Would you not go long if PEs were around 4 and a 6% dividend? Assmaster from the wee hours of this morning on M2M. Last night I was trying my hand at Haiku. I typed the last line becuase it had five syllables. It was NOT ment to be taken as wrote. I have no idea how long I will be bearish. I think it will be till 2007-2010 but it could be longer or shorter. Price will tell me. By the way. The middle line was not true either. :grin: Link to comment Share on other sites More sharing options...
Guest AssMaster Posted July 25, 2003 Report Share Posted July 25, 2003 Foaming at the mouth To drunk to walk up the stairs Bearish till I die Are you serious? Bearish till you die? Regardless of circumstances? Would you not go long if PEs were around 4 and a 6% dividend? Assmaster from the wee hours of this morning on M2M. Last night I was trying my hand at Haiku. I typed the last line becuase it had five syllables. It was NOT ment to be taken as wrote. I have no idea how long I will be bearish. I think it will be till 2007-2010 but it could be longer or shorter. Price will tell me. Thanks, I was wondering about that. Link to comment Share on other sites More sharing options...
BAREister Posted July 25, 2003 Report Share Posted July 25, 2003 well, HRFF hopes that Kim doesn't nuke Seattle over the weekend today convinced him we're back in wilful, wanton, irrational mode. They are going to do ANYTHING to stymie any meaningful downside action. We may get that 200 point rally MERLIN is predicting. The BARE is now fully hedged and dramatically reduced his URPIX exposure. He will sit on his paws and await FURther developments. A HUGE gap up on Monday would SNOT surprise him, one iota. This is like 1998-1999 when HRFF abandoned the field altogether cuz he didn't UNDERSTAND the MENTALITY. The market is taking the bit in its teeth once again, to invoke a country, or equestrian saying. Only a Sigma 10 could knock it off it's perch near-term. Will we GET one? Well, MAYBE if that ASStro guy is right. He sez to watch out FUR TOOOOOOZZZZDEEE. You bearz don't wanna c what MERLIN is projectin FUR MONDAY, however. No ya DON'T. Ms Mkt obliged him AGAIN, TODAY... He who trades and runs away, lives to trade anUDDER day! Link to comment Share on other sites More sharing options...
BusKow Posted July 25, 2003 Report Share Posted July 25, 2003 Looking around that StockChart link...noticed the SPX weekly for this week will feature a Hanging Man...virtually no upper shadow. Partial StockChart def. - If this candlestick forms after an advance, then it is called a hanging man. Even though the bulls won out by the close, this candlestick should serve as an alert to potential weakness. Link to comment Share on other sites More sharing options...
The End Posted July 25, 2003 Report Share Posted July 25, 2003 Up down markets go Capitalstool all day long Keeps your sanity :grin: Link to comment Share on other sites More sharing options...
BAREister Posted July 25, 2003 Report Share Posted July 25, 2003 yes, butt the issue is how 'long' the weakness will take to manifest itself in earnest, especially when The Matrix wants all downside action nipped in the bud. Inger noted the arrest using language to the effect of just as it looked like (the mkt was) about to go over the edge of the cliff on his hotline today. Monday and Thursday are the tattle tale signs of that weakness, buttuvit one can say, now: "It doesn't matter until it matters; then nothing ELSE will matter." They're doing their DAMNEDEST to make itSNOT matter, FUR now. Link to comment Share on other sites More sharing options...
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