The End Posted August 16, 2004 Report Share Posted August 16, 2004 Naz futs GF, just about everything looks like that. I'm trying not to overthink it but, I have to ask "can it really be that easy"? If these things don't work out (patterns and retracement levels) Why look at charts at all. Things are not that easy. This takes quite a bit of discipline. Chart Patterns are not 100% reliable. Triangles don't always break in the direction of the trend. Bear and bull flags don't always do what they're suppose to. When I see everyone looking at the same 'very clear' patterns and saying "oh it's time for a bounce", It makes me step back for a minute and wonder if I'm missing something. Of course the probabilities say bounce, especially with both SPX and NDX sitting right on their 02 channel lines and the Dover Sole conditions. But I'll be on the lookout for failures. JMHO Always Bear hugs. Gotta keep yer I on da ball. Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2004 Report Share Posted August 16, 2004 Yields and stocks all holding opening gaps to the upside. Link to comment Share on other sites More sharing options...
The End Posted August 16, 2004 Report Share Posted August 16, 2004 If we close below 1060 I am back in my put thinggies. For now, I will wait on the sidelines. Cash is a position. Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2004 Report Share Posted August 16, 2004 And I will see some of you in Stooltrading! Bye for now. Link to comment Share on other sites More sharing options...
Guest Posted August 16, 2004 Report Share Posted August 16, 2004 U.S. Empire State index plunges He said PLUNGES Link to comment Share on other sites More sharing options...
Guest Posted August 16, 2004 Report Share Posted August 16, 2004 KMRT same store sales down 14.9% - but profits are up as they SELL THEIR STORES Â Stock up 5% in premarket. Â Looks like the Going Out Of Business business is bullish! Link to comment Share on other sites More sharing options...
BearHugs Posted August 16, 2004 Report Share Posted August 16, 2004 I wonder if oil is pricing in a crash of the dollar. Link to comment Share on other sites More sharing options...
Guest Posted August 16, 2004 Report Share Posted August 16, 2004 Anybody have any info on CALVF ? Â Are they just going away? Link to comment Share on other sites More sharing options...
Guest bullseatshitndie Posted August 16, 2004 Report Share Posted August 16, 2004 here's another weekly of spx. notice the same shape the way the tops are taking place. during the earlier top, there was a 1 week rally back up to weekly ma's that took place during option exp. week. this is also option exp week. but, how often will things be exactly the same? also, the bounce during the earlier top came from 1049. maybe we get that move to 1050 area before any bounce comes Link to comment Share on other sites More sharing options...
purdymouth Posted August 16, 2004 Report Share Posted August 16, 2004 chart is dated, but you get the gyst... Â did gold just break out to the upside? Link to comment Share on other sites More sharing options...
Bearbones Posted August 16, 2004 Report Share Posted August 16, 2004 From John Hussman: Â "In contrast, I am concerned for unhedged buy-and-hold investors, who risk having their hat handed to them. That's not a forecast, but a recognition that every major market crash, and the majority of minor ones, have emerged from the sort of conditions we see at present ? unfavorable valuations and unfavorable market action. Â My opinion is that the risk of a market crash shouldn't be ruled out." Â http://www.hussmanfunds.com/wmc/wmc040816.htm Link to comment Share on other sites More sharing options...
Bastiat Posted August 16, 2004 Report Share Posted August 16, 2004 Platinum caught a small bid today. Let's hope the ugly cousins catch one soon. Â Link to comment Share on other sites More sharing options...
rog Posted August 16, 2004 Report Share Posted August 16, 2004 Reuters: Shiiite miltia have set an oil well on fire in Southern Iraq Link to comment Share on other sites More sharing options...
brian4 Posted August 16, 2004 Report Share Posted August 16, 2004 Morning Crew- Window open now till the top of the hour, Helmets on, Buckle up! Link to comment Share on other sites More sharing options...
Lock Limit Down Posted August 16, 2004 Report Share Posted August 16, 2004 I have once again covered for small losses. I am with End here. And it is Scam week The tick is nuts again Link to comment Share on other sites More sharing options...
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