speculator Posted May 28, 2003 Report Share Posted May 28, 2003 I closed out all shorts yesterday. It leaves me 40% long oil, gas and biocrap. It is what is going up so I'll hold. I learned my lesson. I'll wait for the breakdown and then a failed retest of the high to initiate a short position. No more frontrunning. Chief - forgot to thank you for the tip on ECA a few weeks back ( I think it was you). No its ot a screamer but I've made some nice coin on this recent move and may hold a while longer. I'm just getting into that sector so I'm on a learning curve. Do you follow the XNG? Does anyone? Link to comment Share on other sites More sharing options...
h2orush Posted May 28, 2003 Report Share Posted May 28, 2003 Indeed, much pain here in stoolieland....My bud DIREWOLF, whom you all may know, closed up shop last week. Closed all trading accounts and is now playing golf. Good deal if you can do it. Me, I still firmly bearish, but have been scalping 1999 style with PUMA and ORCH today, and something else tommorrow. You should use me as a contrairian indicator. I made the easiest money today I've made in months but buying momentum breakouts.......than I have in 1 year of trying to short stocks. Shorting, as evdicend by the popularity of this site, the generally high put/call, and all the bearish web sites and emails I get every day, has become en vouge. I hold RYTPX from 920 and will add at 1020, 1120, etc etc...I think we see 650 at some point, but no reason to be trying to pick tops...it dont work. DIREWOLF RIP..... Link to comment Share on other sites More sharing options...
rog Posted May 28, 2003 Report Share Posted May 28, 2003 Lucent plans $1.3 bln convertible debt offering So does ASK Jeeves. Down 4% AH. TECD shy of target. They're crawling out of the woodwork with shares to peddle . . . 4:37pm 05/28/03 Cypress Semi sets sale of $500 mln of convertible notes (CY) By Chris Kraeuter Cypress Semiconductor (CY) intends to sell $500 million of convertible subordinated notes, due 2008, via Rule 144A. Proceeds will be used to redeem at least $400 million of previously issued convertible subordinated notes, to repurchase common stock and for other corporate purposes. 4:24pm 05/28/03 Staples to issue 12 million new shares (SPLS) By Jennifer Waters Staples said after the bell that it would sell 12 million shares of common stock in a public offering. The company has struggled with weak sales and a rocky stock price for more than two years. Staples (SPLS) shares closed down 34 cents to $18.89. Exactly why Al's liquidity experiment will kill not help the economy. So long as the walking dead can tap the debt markets every so often for a dime bag the overcapacity will only continue to grow. Instead of letting the market clear and allowing the lowest tier to fold or be consumed by merger he continues to string them out. As such the first tier players will continue to limp along unable to innovative or increase volumes profitably. Very good Al! You just guaranteed there will be no second half recovery in profits and very well may have guaranteed 2004 will be even worse. Link to comment Share on other sites More sharing options...
PileDriver Posted May 28, 2003 Report Share Posted May 28, 2003 Here's the link to today's Roger Arnold show for anyone interested. Arnold seems to have this market nailed as far as an explanation of what is happening in the big picture. <a href="http://play.rbn.com/?url=tfnn/tfnn/demand/rogerarnoldshow052803.rm&proto=rtsp">Roger Arnold Show</a> and they're all going to get it wrong and pay dearly as their "models" are screwy and wrong. This (rally) is the "big setup" required before the next big leg down can begin. EVERYONE has to get it wrong. What a cluster f#@K Did you listen to the show? yeah! Link to comment Share on other sites More sharing options...
GregFokker Posted May 28, 2003 Report Share Posted May 28, 2003 My head is swimming. Can't keep up with all the breakouts and breakdowns. My longs get crushed, shorts get bid up. I close both trades. Next day, they reverse and go the other way. Anybody else as confused as I am? Staying on the sidelines again. At least I still have money left. Lots have lost a bunch, except for the Clearstation Riverboaters, who are now rich enough to start their own country. I'm tired. I've traded like a well-trained idiot all year, but at least I limited my exposure sizewise, so am merely discouraged, dispirited, and slightly below breakeven. Absolutely exhausted, too. Thinking of escape to other places. Link to comment Share on other sites More sharing options...
Ned38 Posted May 28, 2003 Report Share Posted May 28, 2003 Chief - forgot to thank you for the tip on ECA a few weeks back ( I think it was you). No its ot a screamer but I've made some nice coin on this recent move and may hold a while longer. I'm just getting into that sector so I'm on a learning curve. Do you follow the XNG? Does anyone? Been watching it a while http://stockcharts.com/def/servlet/SC.web?c=$xng,uu[w,a]dhclniay[d20021130,20031230][pc9!c20!c50!d20,2!f][vc60][iut!uh14,3!ub14!li14,3!lg!lc20!lah12,26,9!ll14!lm17,6,43!lm29,14,28][J12954114,Y]&pref=G Link to comment Share on other sites More sharing options...
wndysrf Posted May 28, 2003 Author Report Share Posted May 28, 2003 No wonder DELL went up today. Rumored to announce a dividend soon.... Today's WSJ reported more insider selling by DELL execs. Biggest insider sell was CEO of ADTN. He unloaded $160 million of stock on May 15. Too bad. He should have waited until today. Link to comment Share on other sites More sharing options...
Fukui-san Posted May 28, 2003 Report Share Posted May 28, 2003 Exactly why Al's liquidity experiment will kill not help the economy. So long as the walking dead can tap the debt markets every so often for a dime bag the overcapacity will only continue to grow. Instead of letting the market clear and allowing the lowest tier to fold or be consumed by merger he continues to string them out. As such the first tier players will continue to limp along unable to innovative or increase volumes profitably. Very good Al! You just guaranteed there will be no second half recovery in profits and very well may have guaranteed 2004 will be even worse. Will future generations celebrate a "Greenspan Day"? Where children and their parents will make Greenspan effigies in the days before in happy anticipation. Then come the Big Day, everyone will bring out their effigies, and subject them to everyone torture imagineable. All the time chanting "Alan! Alan! Ten thousand deaths are too few for Alan!" Link to comment Share on other sites More sharing options...
5thelement Posted May 28, 2003 Report Share Posted May 28, 2003 WYNDYSRF(Mark): where's the web site that you're getting the wonder bra models from? If we all need a break, let's all go surfing for ever better avatars to inspire us. I agree about riding the current momentum, whatever it is instead of waiting for the market to go the way we "think" they're going. I'm looking for next gold upthrust to get out of miners. No point trying to chase last $30 rise in POG. Easy $$$ has been made already on the miners. If the broads want to go up for another 4 weeks, why don't we just surf our fav tech stocks for whatever it's worth. Seems like a lot of us on Capitalstool missed the easy $$ since March by not jumping on the Nasdog momentum. The miners have given us very little while many Nasdogs have given 50% profits easy. Link to comment Share on other sites More sharing options...
chiefywiefy Posted May 28, 2003 Report Share Posted May 28, 2003 Chief - forgot to thank you for the tip on ECA a few weeks back ( I think it was you). No its ot a screamer but I've made some nice coin on this recent move and may hold a while longer. I'm just getting into that sector so I'm on a learning curve. Do you follow the XNG? Does anyone? Not my tip. I think it might have been The Coin Guy. Everything is working in that sector. so that leaves me to believe it's in a bull market. I'm long TMR and GW. I'm adding to GW every day on every dip. I don't follow indexes too closely,sorry. Link to comment Share on other sites More sharing options...
Guest yobob1 Posted May 28, 2003 Report Share Posted May 28, 2003 The prelude to the biggest stock market crash of all time? Or the prelude to another 1999-2000 meltup to unimaginable heights not even envisioned by Al Green & Co.?? Will this time be different? Perhaps we haven't even had our 1929 yet. We sure as hell haven't had our 1987 redux. Given all that has occured over the last 3+ years it is a real wonder there is even a stock market left standing, let alone this apparent continuation of the mania. The mania has never died and all of the horse pucky that has gone on to "revive" the failing economy (and or stock market) has merely resulted in an extension of borrowed time at a newly elevated height of stupidity from which to fall. No major clearing of capacity or debt has occurred while simultaneously retail demand has been kept at absurd levels by "hazard free" lending. This of course prevents the pent up demand from occuring at all. The more they control and manipulate the worse they will make it in the end. Will we get a replay of 1999-2000? I doubt it. So far we haven't seen a replay of anything; no match in history. We have boldy gone where no sane person would dare tread. And yet here we are. A house of gasoline soaked cards and the damned fools are playing with matches. Link to comment Share on other sites More sharing options...
Slothrop Posted May 28, 2003 Report Share Posted May 28, 2003 High likelihood of making money trade: XAU gapped down. I've never seen a gap that didn't get filled -- eventually -- in this index. Not investment advice, of course. Look for a day when SPX is tanking and gold is racing upwards. In other words, any day now. (Great song: "Any Day Now" by Chuck Jackson, but you're too young to remember it. I think Bacharach/David wrote it...aw, I'm getting off topic. Sorry.) Link to comment Share on other sites More sharing options...
wndysrf Posted May 28, 2003 Author Report Share Posted May 28, 2003 Piledriver: I didn't have the nerve to dong HOV when you mentioned it last week. It has gone parabolic ever since. Closed at $52 today. Guess what?? They blew out earnings, raised guidance, stock us up $3.50 AH to $56. Now things are really getting out of control. HOV should be re-named House.com Due to the low P/E's on this sector, very possible that all of these could go totally parabolic. Six months from now, all homebuilders should be trading at $150 - $200/share. Link to comment Share on other sites More sharing options...
rog Posted May 28, 2003 Report Share Posted May 28, 2003 Merrill Lynch anal cyst tagged for fraudulent reports on TYC and CIT. Apparently MER CEO had his fingers in a few reports after TYC CEO complained about coverage. Sounds very similar to the AT&T situation. http://biz.yahoo.com/rb/030528/nasd_young_2.html Link to comment Share on other sites More sharing options...
speculator Posted May 28, 2003 Report Share Posted May 28, 2003 Speaking of DOW 48,000 and a wheelbarrow full of cash for a loaf of bread (see FF reply to my IDS post). WHAT RALLY???? Link to comment Share on other sites More sharing options...
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