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The TRINQ is a little disconcerting. It's been between .20 and .18 for hours- very very low. Could be signalling that this is the beginning of a large move.

Greg,

 

Oct 10 started like this....but the entire configuration was very different. SPX775 was hit and broken like a twig....then the reversal was mighty, indeed. Very bearish sentiment, blew thru lower channels, summation turning up from significant low levels, etc.

 

The key is whether we are looking into a 13 week cycle low....which should be known quite soon. Not sure how far this can run, given the pressure of the 6 month down cycle.

 

Right shoulder formation is my WAG.

SPX is probably nearing another GIFT shorting opp.

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Closed HD long ,thought about selling covered calls but sentiment to bullish on HD ,afraid of the downside risk made a buck ...also closed BSX short for 2 bucks and change... only open positions in the trading port are C short and JPM mar puts. will be looking to reshort MXIM , BSX and SPX into the bounce..trades safe

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Well stoolies, it's coming up on zero hour for the 1 day cycle high, with the 5 hour and 1 day cycle due to be in gear to the downside for 90 minutes.

 

Should Doc go for the scalp? That is the querstion? I'll let you know.

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The TRINQ is a little disconcerting.  It's been between .20 and .18 for hours-  very very low.  Could be signalling that this is the beginning of a large move.

Greg,

 

Oct 10 started like this....but the entire configuration was very different. SPX775 was hit and broken like a twig....then the reversal was mighty, indeed. Very bearish sentiment, blew thru lower channels, summation turning up from significant low levels, etc.

 

The key is whether we are looking into a 13 week cycle low....which should be known quite soon. Not sure how far this can run, given the pressure of the 6 month down cycle.

 

Right shoulder formation is my WAG.

SPX is probably nearing another GIFT shorting opp.

agreed. This is just a little "punk rally". Similar to mid April 02 or mid May 02 rallies, nothing more.

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Metamucil- thanks. My thought was of Oct 10th as I typed it- the TRINQ just got buried endlessly at levels right here.

 

MJ- Fokker is an audio buff and already owns a substantial position in Sennheiser's hardware, with 5 different pairs of their higher end phones. Strong buy. You never know what your ears are capable of until you try a pair of these.

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Monster rally on uncle Buckaroo.

 

Any thoughts as to if this is [A] ESF action; Japan action; [C] Both?

gbp was only a bit away from its 22 year downtrend, chf did go down thru whole december, euro rallied up last weeks like a mad man............. well, sometimes people need just an excuse (today it was ism data) to take profits. It a rule which is so old like the market itself: Dont let profits turn into losses.

 

:mellow:

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This is just a little "punk rally". ?Similar to mid April 02 or mid May 02 rallies, nothing more.

With the move on Uncle Buck today, I'd be cautious getting in front of this too soon.

I agree. That's why I did the ESRX dong. Not aggresively shorting until indicators say so and they're not even close yet.

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