The End Posted May 3, 2003 Report Share Posted May 3, 2003 My main dispair is what the hell can I buy if it does go up. I think I shall stick with the index plays. It is a big IF though. I won't give up the fight that easy. Not during trading hours anyway. :wink2: ha, you're funny. NOTHING! Read what I just said! :wink2: I hope you is correct Pile. The fact that I could feel not bullish but, fear a big rise in equities from here, to me, feels strange to say the least. Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted May 3, 2003 Report Share Posted May 3, 2003 Here's a brainteaser: Should this 7 month daily chart be donged, shorted or left alone? Why? The moving averages are: blue: 9 ema red: 20 dma green: 50dma magenta: 200dma MWH Link to comment Share on other sites More sharing options...
The End Posted May 3, 2003 Report Share Posted May 3, 2003 All of the ma's are rising yet the price is far from longer term lines. I might go long at or near a long term MA. Link to comment Share on other sites More sharing options...
crooked_analyst Posted May 3, 2003 Report Share Posted May 3, 2003 I don't think I have ever seen such bearish despair on this board. Hope I'm not the greater fool. MWH PS I don't think so. Madame, I have been short for two weeks now. I'm a bit in shock and quite incredulous at the action during this period. The 4 charts you posted earlier in the evening (thanks for doing that) reflect why. It's tough. Buddah touched on it earlier. When is this big drop coming. It didn't happen in March will it happen in May? Doesn't look good. July? Will it come? Are we in a cyclical bull? As most know, I am using XLNX as a proxy. I'm short at cumulatively at 26.49. It has a P/E of 75 or so and yet it keeps rising. The S&P has a P/E over 30 and it keeps rising. In the Anals tonight Doc says, "The question on everyone's mind of course, is how high is up." It is the question. The economy in scores of ways is pointing to a collapse not seen since at least the early 1930's and yet the market still rises. It's a bit despairing yes. Rant out. Yo, Mousey...how's the health? Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted May 3, 2003 Report Share Posted May 3, 2003 Here's the rest of the TA on the same chart. It just didn't fit all on one page: Link to comment Share on other sites More sharing options...
crooked_analyst Posted May 3, 2003 Report Share Posted May 3, 2003 Is there a Doctor in the House... I'll need to have my a$$ sutured up after Greenspan's FOMC meeting. I sold my Calls mid-day and am sitting on only Puts (except I'm strong Long on PM's) expiring in May. Hell, I'm so smart I sold SUNW yesterday ? ? Welcome to MENSA! I sold too! However, I bought NEM June 30 calls at .25 and sold them at .50 for as much coin as I would have made in SUNW. And held WMB and DYN which were up nicely. This is not to say I have not made my share of bad trades...just that some are not so bad. Miners are holding up fairly well too. A mixed bag. I'm the turd genious who sold Uh....I sold DYN ay 3.69...need I say anything more? Link to comment Share on other sites More sharing options...
Injured Grizzly Posted May 3, 2003 Report Share Posted May 3, 2003 Mousey: Did you get my PM? IG Just read the new Safe Money Report. Looks like his line in the sand is SPX 961 close basis. Link to comment Share on other sites More sharing options...
The End Posted May 3, 2003 Report Share Posted May 3, 2003 I'll keep my answer unchanged. What the hell is it? That is the spx chart ending in march of 02' ? If it is I'll change my answer to SELL MORTIMER, SELL. Link to comment Share on other sites More sharing options...
PileDriver Posted May 3, 2003 Report Share Posted May 3, 2003 Do yourselves a big favor this weekend... Relax, and DO NOT, I repeat, DO NOT read the business section of newspaper or watch any business/finance/money shows :wink2: Isolate yourselves from the idiots. Jesse Livermore did at critical times like these. This is critical juncture, don't blow it. Good night! Link to comment Share on other sites More sharing options...
Injured Grizzly Posted May 3, 2003 Report Share Posted May 3, 2003 This interesting, http://money.cnn.com/2003/05/02/commentary...idask/index.htm Link to comment Share on other sites More sharing options...
Guest AssMaster Posted May 3, 2003 Report Share Posted May 3, 2003 Here's a brainteaser: Should this 7 month daily chart be donged, shorted or left alone? Why? The moving averages are: blue: 9 ema red: 20 dma green: 50dma magenta: 200dma MWH Chart looks rather bullishly biased, but I do not like entry at this time. I like to buy when the monthly and weekly stochastics are bottomed and turning up, as is the stock's price. So, based on this chart alone, I would do nothing at this time. If it pulled back to support, the stochs bottomed on the daily and then turned up - I'd dong it. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted May 3, 2003 Report Share Posted May 3, 2003 Is there a Doctor in the House... I'll need to have my a$$ sutured up after Greenspan's FOMC meeting. I sold my Calls mid-day and am sitting on only Puts (except I'm strong Long on PM's) expiring in May. Hell, I'm so smart I sold SUNW yesterday ? ? Welcome to MENSA! I sold too! However, I bought NEM June 30 calls at .25 and sold them at .50 for as much coin as I would have made in SUNW. And held WMB and DYN which were up nicely. This is not to say I have not made my share of bad trades...just that some are not so bad. Miners are holding up fairly well too. A mixed bag. I'm the turd genious who sold Uh....I sold DYN ay 3.69...need I say anything more? Well I sold CPN at 4.05! Hah! Oh wait, even better - I had a BUTTLOAD of Harmony and Drooy on Sept. 2000. I mean like 50% of my portfolio. It dropped 20% so I got stopped out...at THE ALLTIME LOW! Gack! Edit: I mean, the EXACT low! Can you imagine the gains from there? I can...no I'm not bitter...well, not much...hell yes I'm bitter! Link to comment Share on other sites More sharing options...
BigWave Posted May 3, 2003 Report Share Posted May 3, 2003 Abundant credit creates bubbles and the restrictive credit deflates them. As long as the goobermit can sell paper here and abroad (especially abroad) and then FEED it into the markets, they can go up. Reappointing AG keeps the put in place. The carrier landing sends a big message that the administration will pull out all the stops to insure reelection. I'm generally not a subscriber to direct PPT intervention concerning the markets, I mean we all know that Da 'Boyz rule, but that Globex takedown was more eye opening then usual. I can't believe this can go much higher, but I also didn't think we would get here either without more downside first. If foreign investment begins to seriously repatriate, maybe that will squeeze the Fed's money machine and the cards could tumble. That would also increase interest rates and that would really cook this. Just the mutterings of a madman... Link to comment Share on other sites More sharing options...
BigWave Posted May 3, 2003 Report Share Posted May 3, 2003 Is there a Doctor in the House... I'll need to have my a$$ sutured up after Greenspan's FOMC meeting. I sold my Calls mid-day and am sitting on only Puts (except I'm strong Long on PM's) expiring in May. Hell, I'm so smart I sold SUNW yesterday ? ? Welcome to MENSA! I sold too! However, I bought NEM June 30 calls at .25 and sold them at .50 for as much coin as I would have made in SUNW. And held WMB and DYN which were up nicely. This is not to say I have not made my share of bad trades...just that some are not so bad. Miners are holding up fairly well too. A mixed bag. I'm the turd genious who sold Uh....I sold DYN ay 3.69...need I say anything more? EDIT- Sold DYN at 51 in 2002 from a 1995 buy. :grin: Even an idiot get's it right sometimes Link to comment Share on other sites More sharing options...
Guest Posted May 3, 2003 Report Share Posted May 3, 2003 Thanks IG. I did. Sorry it took so long to reply I left the computer for a few minutes to catch the end of the Yankees game! Crooked, Good news since you've become an Angels fan. The Yanks beat the A's 5 to 3. I'm doing fine. I think I sounded worse than I am about all of this. I was just responding to Madame's post regarding the despair. Piles is right. Before you can have a good crap you've got to fool as many as possible. Thanks to Madame and so many others who post these great charts, the facts are still the facts and our time will come soon. With appologies to Keynes, I just hope this market doesn't stay irrational longer than I can stay solvent.! Link to comment Share on other sites More sharing options...
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