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Unfilled Downside Gap


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For those cheap seat stoolies. This guy has been good and he is free.

 

http://www.eldinril.com

 

He called for 985 as well.

Tanks TheEnd,

 

Haven't seen too many Posts from you lately. Maybe I?m not reading M2M enough. Where are you hanging out? Nice play on the SPX.

 

I visited the Link that you provided for Eldinril Market Perspective,

Cadence Trading Strategies LLC. Didn?t get a chance to review much of

his stuff but he sure called today on the button.

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Agree with Greg- A fine, fine day it was! Still no fear QQV drops Vix belches a puny gain. Do we bounce here??? AH! the $64.- question-answer maybe (everyone expects one) maybe not! Subtle nuances are changing in the market-Bad news isn't being shrugged off anymore and good news is being ignored. News stories abound like "Iraq bill -4 Billion a month", Chinas eighth biggest trading partner in the world is Walmart" both from today plus refi's drop 21% and on and on- Joe Sixpack is starting to get uneasy. I didn't sell -still short and in the green with tight stops to ensure a profit, tomorrow will tell us, there maybe a small bounce but the trend has changed, the direction is down. I said last night look out riverboaters-when NazCrap turns it turns with a vengeance and it leads the way down-and indeed it did. The Bears are back in charge-Trade Safe!

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For those cheap seat stoolies. This guy has been good and he is free.

 

http://www.eldinril.com

 

He called for 985 as well.

Tanks TheEnd,

 

Haven't seen too many Posts from you lately. Maybe I?m not reading M2M enough. Where are you hanging out? Nice play on the SPX.

 

I visited the Link that you provided for Eldinril Market Perspective,

Cadence Trading Strategies LLC. Didn?t get a chance to review much of

his stuff but he sure called today on the button.

I post more than most. I stay away sometimes when the bulls on the board are jaggin off. It's like watch cnbs. Today was a good day fur us, so I'm lively, Plus I won't be around after Saturday night and feel the need to get my rocks off.

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Junipple jus gided nex kwartir flat. Luks liek a byeing opirtunitty! Strogn bye!! :rolleyes:

 

CMGI fan,

 

you seem to be dead-on in your trading with junipple. what else do you like, i too want to become a saavy MOMO trader? :P is it too late to ride JDSU, LU and or WCOM (oops, have then gone BK yet)? got any canadian picks? :D

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from today's Daily Reckoning:

 

-----------------

 

How do you make money in this market?

 

"Well, for the past few months," explained colleague Dan Denning, "you buy the worst stuff on the market. In our trading portfolio, for example, we've been buying tech stocks...goofy tech stocks...and we've been making a lot of money."

 

Yesterday, the Dow fell 66 points. But the tech stocks have been leading this rally; the Nasdaq ended yesterday's session in the black.

 

The smart money, and the insiders who have it, have been taking advantage of the situation; they've been getting out. Of course, for every seller there has to be a buyer. Who are these buyers? Whom should the insiders thank for taking the world's trashiest stocks off their hands?

 

The lumpeninvestoriat! The moms and pops in mutual funds...the little guys...investors without a clue or a prayer.

 

Bless their hearts...

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I remember the 982 level quite well on the way up, I think Scott C. called it. Several other Stoolies today looked at 983-5 as key resistance. Doc's recent calls have been the best - tanks.

 

I am inclined to think we'll get a run up towards 1000 before we get any more significant downside damage, although a pop into the 970's after the open tommorrow is possible. We have not had an unfilled downside gap in a while, and though we may have one now, such gaps create a sucking effect many Stoolies find unpleasant, tending to attract Asians, computer nerds and donut fanatics.

 

Also, we now have 2 wild-card variables: bin-Laden capture (no big deal, IMO) and the Sadam-on-a-stick effect, which could be worth 50 or so SPX points. As such, I remain a hit-and-run daytrader, with only small (short) overnight positions. Lots of downside 2 or 3 sigmas lurking out there, but hey, it's summer. Don't look for 8,9 or 10 sigmas for another 6 weeks.

 

I want to see the next rally, pursued with conviction, fail by violent death. My upside for deploying 100% of my trading funds short is 1060. If I'm wrong..there will always be another trade.

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CMGI fan,

 

you seem to be dead-on in your trading with junipple. what else do you like, i too want to become a saavy MOMO trader? :P is it too late to ride JDSU, LU and or WCOM (oops, have then gone BK yet)? got any canadian picks? :D

Sowry Peebrane, butt my traidin sistim iz popietery. Eye uze a cobinashun uf signalz taht incleud ichy parts uf miself (sowry, butt cant dyvulj sepifics, iffen yoo nowe wat eye meen!), win direkshun, an moon fazes.

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GANG, THE CALL buying today allows for the first serious discussion of a top to this rally!

No rally today because the put buyers

did NOT go ape-sh*t on this sell-off--look at the indexes--they bought more calls than puts for a change except for the S&P500-but even that isn't almost even---manipulations in stocks only work if there are shorts to squeeze.

 

3:00 PM DJ--20,899-calls 15,691-puts 36,590-total

 

S&P100-32,449-calls 24,688-puts 57,137

 

S&P500- 50,297-calls 58,538-puts 108,835

Since the March lows, there have been very few days like this!

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