Pigeon Drop Posted April 23, 2003 Report Share Posted April 23, 2003 Moneypenney and BB, thanks very much. I have trouble reading much of the shorthand. Each person has their own unique shorthand, linked to their Gann or wave or whatever methods. So I get easily confused, they are all different. Link to comment Share on other sites More sharing options...
GregFokker Posted April 23, 2003 Report Share Posted April 23, 2003 Greg, Found the thread. Might be good to study these charts. Do Bottoms Come in Threes - Comparison charts with NDX '03, Japan '93 and Dow '33 Thanks, Miss MP. Going now. Link to comment Share on other sites More sharing options...
rog Posted April 23, 2003 Report Share Posted April 23, 2003 To expand a bit: yes there is intervention, but ultimately all they have to do is spook the hedge hogs and they do most of the work. Most of the panic buying (I have no figures to back this, it's only my opinnion) are them covering. Hedge hogs are shooting themselves in the foot by Gamma trading. Shorting stocks or buying puts then hedging with common stocks. By definition unless there is a huge gap down they are required to buy common against the short. When they do so they put a bid in the market. The momo boys see the bid and jump in. Then the hedgies have to delta hedge some more to keep the Deltas in check. And the infinite circle jerk of dynamic hedging continues. Link to comment Share on other sites More sharing options...
rog Posted April 23, 2003 Report Share Posted April 23, 2003 Soup, Quick wake up!!! Negative ticks, Soup!! Negative ticks. No your not dreaming. Link to comment Share on other sites More sharing options...
DrStool Posted April 23, 2003 Report Share Posted April 23, 2003 1 day cycle cmap adjusts down to 920, and a couple of intrday indicators just flashed sells. Click link below to view charts. Link to comment Share on other sites More sharing options...
BAREister Posted April 23, 2003 Report Share Posted April 23, 2003 Potential emerging "dangling serpent" FURmation, FURshadowing lower prices... Link to comment Share on other sites More sharing options...
2 floaters and a sinker Posted April 23, 2003 Report Share Posted April 23, 2003 revised targets for this decline to hold... 913-14 (talking spoos) Link to comment Share on other sites More sharing options...
Mr. Beal Posted April 23, 2003 Report Share Posted April 23, 2003 Any significance to no new low on the VIX today? Link to comment Share on other sites More sharing options...
Miss Moneypenny Posted April 23, 2003 Report Share Posted April 23, 2003 Greg, Found the thread. Might be good to study these charts. Do Bottoms Come in Threes - Comparison charts with NDX '03, Japan '93 and Dow '33 While I heed this warning, I also am shorting here (with stops) 'cause it looks overdone short-term. Of course, I'm a proven idiot trader, so don't listen to me! Link to comment Share on other sites More sharing options...
wndysrf Posted April 23, 2003 Report Share Posted April 23, 2003 Rog: You nailed it. This whole thing smells of one giant derivative meltup. No different than the last day of the MTV Spring Break, when any guys who hadn't gotten laid start grabbing anything and everything in order to avoid going home empty handed. Just look at the spectacular squeezes out there today. Oyster: Does this still qualify as a throwover top? Link to comment Share on other sites More sharing options...
PyurAureo Posted April 23, 2003 Report Share Posted April 23, 2003 Realist (from AM Posts, I couldn't figure out how to bridge the Forums with a Quote ... ) I think Oyster's DOW vs. SPX chart has great correlation as it perfectly shows how the herd mentality works during topping stages. I plan to deploy the extra 30% short when the triangle finally break down. Still 70% in TPX/VNX from lower levels but not quite ready to bail just yet. {Maybe that'll work}. Anyway ... I'm continuing to Leg in to Positions using the TPX and VNX. For the $$ I've allocated to this Line of Play, I'm about 55% of the allocated $$. The Plan is to continue to gradually increase from the 55% to about 90% of the allocated $$ to the levels of S&P 950-60 and NDX 1170-80 or so. Of course I do not know whether these levels will be achieved or not but that is the current plan. When I'd started down this path a couple weeks ago, I originally had targeted topping levels of S&P 925-30 and NDX 1130-40 or so and had thought I'd be at the 90% of allocated $$ there. Recent Market Action has caused the revision to the Plan. As the indices go towards these levels, I will continue to add to these Positions. If these indices exceed the current targets, I'll have to think about that last 10% or exit the Positions. I continue to believe that at some point in time (first weeks of May?) these indices will collapse and head much lower. Link to comment Share on other sites More sharing options...
2 floaters and a sinker Posted April 23, 2003 Report Share Posted April 23, 2003 To expand a bit: yes there is intervention, but ultimately all they have to do is spook the hedge hogs and they do most of the work. Most of the panic buying (I have no figures to back this, it's only my opinnion) are them covering. Hedge hogs are shooting themselves in the foot by Gamma trading. Shorting stocks or buying puts then hedging with common stocks. By definition unless there is a huge gap down they are required to buy common against the short. When they do so they put a bid in the market. The momo boys see the bid and jump in. Then the hedgies have to delta hedge some more to keep the Deltas in check. And the infinite circle jerk of dynamic hedging continues. What he said That's what I meant, just didn't know how to articulate it. Thanks, Rog Link to comment Share on other sites More sharing options...
richmtn Posted April 23, 2003 Report Share Posted April 23, 2003 informal non scientific poll. Is it now unanimous that we go higher from here? Not from me. As far as I'm concerned this thing is still hanging in the balance. Who knows what the criminal mind has planned, Eh? Keep your powder dry. Relax, nap, listen to music. Breath. Here's that chart Feed. Link to comment Share on other sites More sharing options...
DrStool Posted April 23, 2003 Report Share Posted April 23, 2003 Seeing possible turn in the Qs as well. Arrows point to key corssover levels on the indicators. When indicator corossed down, it means down. When it corsses up, it means up. All is relative to the next larger cycle. A cross down on the 1 day cycle when the 3-5- and 8 day cycles are up usually means a swdp, except at the tippy tippy top. :wink2: Click link below to see charts. Link to comment Share on other sites More sharing options...
Bearman Posted April 23, 2003 Report Share Posted April 23, 2003 Who's in jail from enron? now more investagations Frank the ipo deal maker the settlement due from brokers this week clients will pay fine just when does the shit hit the fan? never ending lawsuites by j6P & state pension funds Link to comment Share on other sites More sharing options...
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