wndysrf Posted May 26, 2006 Author Report Share Posted May 26, 2006 Check out how low the Russell 2000 got. Hard to believe..... Link to comment Share on other sites More sharing options...
Tzu Posted May 26, 2006 Report Share Posted May 26, 2006 Wyndy, GLG filled the gap. Seems to me a possible retrace may happen from here. I have also noticed that the comp and a few other indexes have gotten back near their 200dma's and no macd crossovers. I find it interesting that the 13dmas have been tagged like magnets.Perhaps next week we will have a retrace. I'm guessing that if we dont take off big tuesday it may be a good possibility that this will happen. TE and KW mentioned wave A ending and the possibility of a pullback ahead. I like the idea. It has these other features that align with this notion. If we do have a retrace tuesday, I'll be looking to see how many people decide this rally has failed and dive in short. Maybe this will be seen in the put/call ratios. etc. People may throw in the towel as the market goes down, load the boat way short, then we get a tradeable bottom after that. Just pondering ideas. Ive taken profits and waiting to see what happens. Ill go long on strength but looking for weakness. Ill also be looking for a quick dead cat bounce that quickly fails. If I do go long I will have to keep increasing stops in this environment. Link to comment Share on other sites More sharing options...
Tzu Posted May 26, 2006 Report Share Posted May 26, 2006 Wyndy, you mentioned the steel stocks being the best shorts if we collapse. I think I may have identified a good short idea if the market turns back down. Link to comment Share on other sites More sharing options...
wndysrf Posted May 26, 2006 Author Report Share Posted May 26, 2006 Steels and Borkers......... Biggest coin made in a bear market Don't like the breakaway gap up on Goldman today. Funny how the PigMen can even push their own stock. Link to comment Share on other sites More sharing options...
mmoy Posted May 26, 2006 Report Share Posted May 26, 2006 Wyndy, you mentioned the steel stocks being the best shorts if we collapse. I think I may have identified a good short idea if the market turns back down. <{POST_SNAPBACK}> I think that AK Steel is a buyout target so that they may not trade strictly with the price of steel. I don't recall who the suitor was though. Link to comment Share on other sites More sharing options...
Big Doo Doo Posted May 26, 2006 Report Share Posted May 26, 2006 Here's the planned PigPlay : Now that the PigMen have sold all those put options to the bears ... watch them boner stocks into OpEx (3rd week of June) ... starting with the onset of an EOM boner jam. Link to comment Share on other sites More sharing options...
BusKow Posted May 26, 2006 Report Share Posted May 26, 2006 Best sectors for the day... Link to comment Share on other sites More sharing options...
mmoy Posted May 26, 2006 Report Share Posted May 26, 2006 Just a reminder that the coal plays like FDG and CNX generally go along with steel plays. I've liked SID and OS in the past. Always had a hard time with AKS. Just looked at SID: really nice move off the lows three sessions ago. Link to comment Share on other sites More sharing options...
BusKow Posted May 26, 2006 Report Share Posted May 26, 2006 and for this week. Link to comment Share on other sites More sharing options...
Tzu Posted May 27, 2006 Report Share Posted May 27, 2006 Wyndy, you mentioned the steel stocks being the best shorts if we collapse. I think I may have identified a good short idea if the market turns back down. <{POST_SNAPBACK}> I think that AK Steel is a buyout target so that they may not trade strictly with the price of steel. I don't recall who the suitor was though. <{POST_SNAPBACK}> Thanks for the info. That's one big bounce. Link to comment Share on other sites More sharing options...
summoner Posted May 27, 2006 Report Share Posted May 27, 2006 Kachingo baby.....score one for Dabears....record month .....expected a boner run this week for the pre holiday EOM jam...the boys are so predictable....Initially was looking for this rally to fail around June OPEX after put buyers get shanked, but could end with the release of the Fed minutes on wed....careful out there....having said that: one of my high priced gurus, TE can confirm(nice to see him posting again) has an interesting chart of the Apr 1955- May 1956 SPX chart compared to the Apr 2005-May 2006 SPX....correlation to date 90%...eerily similar....back then SPX declined 6.6% during may, bottomed near the eom and then rallied 3.9% in June and 5.2% in July before getting shanked almost 8.5% into the fall....if that plays out look for a parabolic move next 6-8 weeks....it would clear out all the bears and reset all the put to call ratios....sorry I cant post the chart....John over at trending is also foaming at the mouth bullish given the extended PCRs and the highest nasty short interest ever....FWIW....TRADE SAFE Link to comment Share on other sites More sharing options...
Big Doo Doo Posted May 27, 2006 Report Share Posted May 27, 2006 Wowzers !!! Silver flyin' out the door. Another 2.35 million ozs. trucked out today. http://www.nymex.com/sil_fut_wareho.aspx Link to comment Share on other sites More sharing options...
jickiss Posted May 27, 2006 Report Share Posted May 27, 2006 jickiss is back! and Dear M2Mers, well, it is Memorial Day Weekend, no? and, for sure, there are them that are dead, having fought for, well, ewe all know. what we all know is that everything is easy, until it is time to do it. in vain, and the many vanities described here, over the years, are not in any wise the same thing. really, they are opposites. negative and more negative. Mr. Drake, that is, his followers vs. Mr. Fox, and his buds... anybody that thought that a test was not coming, after how many long years, well, ewe were operating under the illusion that tomorrow will always be the same as yesterday. it shall not so be, and your jickiss has advised that by the Ides of September.... moving past such Serious elements, there are now two annoying jickiss charts to post. one on TRE, of course. ewe are to buy TRE. your jickiss realizes that few want to Hold Fast, but, versus da Metal, ewe want to buy TRE. when da markets re-open, that can be added to ewere list of things to buy. TRE. then, for "fun" if that is ok to say, your jickiss was chit-chatting with da General, when a flash of insight sprung into what is left of the mind of your jickiss. Earl. It will now begin to move up, bigger and faster than ewe thought. so, a jickiss Prediction: Earl will Cross the Highest Octane Number, 93. your jickiss met Pickens, face to face, via a friend a First Boston, back in the 80s out west, and saw Pickens a few times after that. Pickens is also the real thing, and the Pickens views on Earl and Gasoline should be reviewed, as they are correct. sure, Pickens was wrong on Natural Gas for a while, that Take or Pay stuff, who cares now? nice to see that Pickens Never Gave Up, and has made nice coin. there is a lesson there for one and all, ewe know, never give in and all that, very smart thing to do, at least don't give up on yourselves.... of course, in another direction, them here that said that TRE would drop to the 7 zone were, of course, correct, as so far, there is no real demand for TRE shares....yet. Kudos to you all, but, will there come a day when, believe it or not, them that have short-ed the gold shares will have to cover, and there will not be the expected HS kind of pullback that many have traded to their advantage, so far? your jickiss still says that $11.00 is the next target for TRE finally, despite whatever happens next, despite the approach of "Something Happened" (Buddha) finally, your jickiss says Tanks to one and to all, Doc, Marky Mark, and to every poster, for all that has been said so far this year. all are to Hold Fast there are acres of diamonds ahead, but, not everyone can believe these words of your jickiss, no matter. ewe may think of it as an exercise in mere imagination, but, "how often is imagination the mother of truth?" these markets have been difficult enough, especially since the first big top in March of 2000, sometimes, it feels like it will go on forever. as Holmes thought in "The Hound of the Baskervilles" (at the burrow where the stranger lurked), "Always there was this feeling of an unseen force, a fine net drawn round us with infinite skill and delicacy, holding us so lightly that it was only at some supreme moment that one realized that one was indeed entangled in its meshes." the two charts, both about to be powered (higher) by unseen forces..... jickiss!!!!!!! Link to comment Share on other sites More sharing options...
Peek Paper Posted May 27, 2006 Report Share Posted May 27, 2006 Silver stocks are still trading like dead dogs. Must mean that another hard shank to $11 is in the works on the silver contract before the uptrend resumes. Still waiting for single digits to go hand-over-fist ... NYMEX is really going to want some inventory back .. there hasn't been a capitulation shakeout yet ... But at 11, I'll start nibbling, at least ... Amazing how quickly this board gets bullish again; most of us spotted the turn if you read WSE. And the charts were pretty obvious. EOM will disappoint. IMHO. $ on a -5 SPX fute at the open Tuesday. Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 27, 2006 Report Share Posted May 27, 2006 Kachingo baby.....score one for Dabears....record month .....expected a boner run this week for the pre holiday EOM jam...the boys are so predictable....Initially was looking for this rally to fail around June OPEX after put buyers get shanked, but could end with the release of the Fed minutes on wed....careful out there....having said that: one of my high priced gurus, TE can confirm(nice to see him posting again) has an interesting chart of the Apr 1955- May 1956 SPX chart compared to the Apr 2005-May 2006 SPX....correlation to date 90%...eerily similar....back then SPX declined 6.6% during may, bottomed near the eom and then rallied 3.9% in June and 5.2% in July before getting shanked almost 8.5% into the fall....if that plays out look for a parabolic move next 6-8 weeks....it would clear out all the bears and reset all the put to call ratios....sorry I cant post the chart....John over at trending is also foaming at the mouth bullish given the extended PCRs and the highest nasty short interest ever....FWIW....TRADE SAFE <{POST_SNAPBACK}> Interesting thoughts... I'll be watching the Trannies over the next week or so.... KWave likes to see big spikes at important turning points, and the Trannie Monthly, barring a super ramp next Tuesday/Wednesday, is certainly sportin' a huge spike top at this juncture....if they can blow that spike out upside, your described scenario has a shot a playin' out.. That said, the emerging market indexes/ETFS look very topppy to me, and Australia looks to have a potential crash setup workin'....next few weeks should tell mucho.... Link to comment Share on other sites More sharing options...
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