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B4 The Bell Tuezelday August 3


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What bearman is trying to say is that- Bob Froolich with the Beagle Ears is the guest in the morning on Schlock Box- name any disaster since 87 and old Bob the hoo-Doo has been the guest- i luv the karma-Piggy dies at dawn! ;)

Him or Big dick hoey.

 

Wndy, That is a bad print.

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Howdy stoolies whoever is awake. 50% in this market with RYAIX and SJT (San Juan Basin trust). Small residual position in PSAFX. Want to move into RYVNX but everytime I do, I seem to mistime the market. 1/inverse will do thank you. Think I'll hold it as it is until I see what is going.

 

Outside trading currently having lots of family related drama. I never knew what dysfunctional was until I came to America. Outline of the all this is a 4 day blur involving

- a teenage step daughter + her friends :mellow:

- 2 x crashed cars on different occasions. Nobody hurt in both occasions. Her friend's cars is totaled (liability only) Mine is repairable but I'll repair it outside the insurance. :o

- 2 freaked out mothers and the yapping that went with that (The Worst part :P ).

- 3 trips to car pound that do not accept credit cards :angry:

- 2 trips to car body repair shops :angry:

- 1 dopey teenage friend of step-daughter who doesn't want to go home but who has no social manners ("Thank you" is unknown). In addition, her Asian mother wants to kill her since it was her car she wrecked.

- 2 days Mediating between 1 estranged mother - daughter relationship (above).

 

- 4 hours ago : 1 car bought from work friend as a surprise 18th birthday present for step daughter. He cut me a good deal as a favor since she is family (~$1,000 less than Kellly's) :D

 

- 1 hour ago : teenage step daughter informed me she intends to finish final year in school not in Houston but in California with her lifetime schoolfriend friend (currently visiting) and her family. (she spent lot of time there until 2 years ago) :o .

 

Told her that if she really wants to go, we can't stop her since she will soon be 18.

Whilst I'll miss her (She's not told her mom yet !), this was UFB with regards to timing. 3.5 hours earlier and I'd not have bought that car but reserved the money for her stay should she go.

 

I'm the first father figure she's known and thought she needed a break so I wanted to get her a runabout car as an 18th present. I'll now feel bad as my collegue cut me a special deal oof market rate. :blink:

 

Lordy. I'm gonna have a beer and read rest of Stoolville.

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Wow.  :shocked

 

I closed most of my long hedges today

with tight stops and added to shorts.

 

Am very short right now.

 

TE - any thought about this going below 1090?

Anything can happen. I do not expect 1090 to be closed below until we get a higher high (1115?)

Yer scarin' me, End. Percisely my thoughts...

post-20-1091595242.gif

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Every friggin mania in history has bottomed BELOW where the mania began. The dow will go below 4,000 (based on it begining in 1995). Unless what we had was NOT a mania. Any stoolie believe that?

It's just a mental exercise anyway but I think the move we've had over 1000+ plus resistance in the Dow 30 was a multi-generational move and will take many years to correct. The next important support I think is 6600-6800 in the Dow. The pre-crash top around 2750 will support a monster rally and then we will have rallies off the 1000 area. This might take many years.

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From Option Investor.

 

With that said, it's worth noting that the daily cycle upphase, even on the Nasdaq, is not yet over and should, all other things being equal, continue for at least another week. It's possible that the Fed's substantial repo drain, announced at 10AM amidst the furor over the possibility that the Sunday terror alert might be a dud, could have been a miscalculation by the Fed's open market desk in an attempt to mitigate a possibly large relief rally. That's pure speculation on my part, but if the Fed makes a large repo announcement tomorrow, it will appear more likely. In any event, the Nasdaq is at a level where it needs to bounce to avoid kicking off a new daily cycle downphase from a much lower price and oscillator high. A bounce will preserve the bullish daily cycle outlook, and we'll watch for confirmation in the form of today's high being exceeded. No bounce, and the bulls will have fumbled the ball very close to their endzone.

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