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The Note


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well, like SG said, here we sit in no man's land. Too dangerous to long per outrageous sentiment #s and lousy technical picture, too soon to short per short term pic and year-end nonsense. Just sitting here pulling my pud. ;)

 

IT Technicals: VERY BEARISH

IT Sentiment: VERY BEARISH

ST Technicals: Neutral

ST Sentiment: BEARISH

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Stutz,

 

I too noticed an increase in billboards advertising billboards. I noticed

these not just in off the beaten path billboards. The ones I noticed

were on major highways and also a couple near interstate highway

interchanges.

 

I guess because the internet is so successful, people don't need to

advertise anywhere else... :grin:

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To my Amazon short: Yes, yessss...come to me my precious. Smeagal likes, smeagal likes!!

 

Down down down...Amazon going down...down, down down...(repeat).

 

Oooh I love it I love it.

 

Now, what I've never been good at is riding out my winners.......when to cover....hmm. Long-term short and hold is good on AMZN, but instant gratification and $ in the bank is nice too...hrm.

 

Nah, I think I hold my shorts. =)

 

AgentSmith

Just yesterday i saw that amazon was the nasdaq100 stock which made the most gain in 2002, it was 100%+x.

 

The market loves this stock, unbeleivable, but it is like it is.

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I do not know about jam.... this is the game that is played every year between xmas & new year. Any profits I just take'em.

 

As for the AMZN Short I posted last week... I have been scaling out on 30 Min. chart. fib breaks.... It should be gone soon.... Will it go lower? Maybe, but the cookie plate has been passed......

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As a rule, I don't like the idea of shorting cult stocks, and I really despise the idea of shorting anything in an uptrend. Best time to short is the first rally after upside cmaps are met and next longer cycle that your trading cycle is heading down.

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Stutz: I liquidated all my businesses and commercial real estate about three years ago (not much value after all was said and done except for the buildings). One of the businesses was a retail store for which we had a billboard. That billboard is still up today. Lots of other open ones around, but how many have ads up that are not paying rent? Quite a few me thinks.

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Put buyers active in IBM again today

I wanted them to pump it to 82.50 before year end so I could short it again. They may not make it and I may have to settle for something closer to 81 even.

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