Lock Limit Down Posted May 3, 2004 Report Share Posted May 3, 2004 we are seeing short covering order flow. Probably position squaring in front fomc. We are also seeing some intereting flow in the consumer staples (mo, kft, CL) which have had a strong bid for the last few days. MO was up +2% after being up the last few days despite the broad sell-off. This is a classic recession trade. Sell or short financial, retail and cylical stocks and long consumer staples. We saw this same trade put on in front of the 2000 crash, 9-11 slide, and the 02 waterfall. One caveat: it appears early in this trade. This trade usually ends with the momos driving these high div plays up 5% in an exhaustion day. Then a broad market waterfall usually starts in earnest, usually taking the cons staple stocks with it. Rog Excellent... exactly It is early and is adding confusion on this end. Your insightful comments are well received! Appreciate it Link to comment Share on other sites More sharing options...
zensmoke Posted May 3, 2004 Report Share Posted May 3, 2004 QQV 23.50 VXN 25.41 VIX 16.79 VXO 16.98 Link to comment Share on other sites More sharing options...
brian4 Posted May 3, 2004 Report Share Posted May 3, 2004 It has to be a slow news day-this just came across my dow news feed-"man trying to cross Ocean with single oar-sends distress signal" I guess he got tired of going in circles-Huh! Link to comment Share on other sites More sharing options...
rog Posted May 3, 2004 Report Share Posted May 3, 2004 Wave good bye tothe S.S. IBM, now under good support @$88 Link to comment Share on other sites More sharing options...
brian4 Posted May 3, 2004 Report Share Posted May 3, 2004 They pushed it up to maximum resistance and couldn't get over it-say G'nite Dick! Link to comment Share on other sites More sharing options...
Lock Limit Down Posted May 3, 2004 Report Share Posted May 3, 2004 Anyone know why IBM is being ignored? Or just the same old pattern of sell the open and boner the close..... And what has gotten into COF. The dippers love that one More insiders unloading no doubt GM being bought on more uncertainty Move along folks... Link to comment Share on other sites More sharing options...
rog Posted May 3, 2004 Report Share Posted May 3, 2004 Anyone know why IBM is being ignored? Or just the same old pattern of sell the open and boner the close..... And what has gotten into COF. The dippers love that one More insiders unloading no doubt GM being bought on more uncertainty Move along folks... COF down $13 in 2 weeks. Still a pos but tempting the dippers IBM text book H&S Link to comment Share on other sites More sharing options...
Lock Limit Down Posted May 3, 2004 Report Share Posted May 3, 2004 Wave good bye tothe S.S. IBM, now under good support @$88 I do have IBM stos across all time frames on sell Is this finally it for my most despised devilstock. Not holding my breath as they have a habit of uturning that one when they most need it.. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted May 3, 2004 Report Share Posted May 3, 2004 Volume is extreamly light Take that as you may.... Link to comment Share on other sites More sharing options...
brian4 Posted May 3, 2004 Report Share Posted May 3, 2004 the pivot is just slightly under 1114- break 1114 it gives it all back! Link to comment Share on other sites More sharing options...
yellowfish Posted May 3, 2004 Report Share Posted May 3, 2004 shorted RIMM on the bounce this AM. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted May 3, 2004 Report Share Posted May 3, 2004 Reloaded partial position Stops high of day little risk... Link to comment Share on other sites More sharing options...
zensmoke Posted May 3, 2004 Report Share Posted May 3, 2004 Ford April U.S. Passenger Car Sales Dn 8%, Trucks Dn 2% Dow Jones Newswires Link to comment Share on other sites More sharing options...
Lock Limit Down Posted May 3, 2004 Report Share Posted May 3, 2004 Back to full position now Link to comment Share on other sites More sharing options...
brian4 Posted May 3, 2004 Report Share Posted May 3, 2004 Break the pivot 1113.86 we better all head for high ground! Link to comment Share on other sites More sharing options...
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