brian4 Posted April 30, 2004 Report Share Posted April 30, 2004 GTN- I wouldn't be long here on a bet-that is wishin and hopin-sometimes you have to just take the loss. There is a lot of momentum behind this move against a backdrop of "No Fear" and nothing but good news on the Economy the perfect recipe for a massacre. Link to comment Share on other sites More sharing options...
Guest libertas Posted May 1, 2004 Report Share Posted May 1, 2004 Stain a good political summation! On the markets-I think when 1087 falls is when panic ensues. A lot of the Sheep took equity loans on their homes to get back in the market one more time once they realize they are going to lose twice they will all try and get thru the door at the same time. I think that factors in about 1087. Sounds right to me. I've been planning to use 1087 as a place to add to my shorts, but I'm a bit concerned that I may not get a chance if it goes by too fast. Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted May 1, 2004 Report Share Posted May 1, 2004 a rally back to the 50 day to unload the rest of my longs I'm afraid I don't see the sense in having remained long since dropping through the 50dma. Although we very well might rally back up to it, it seems to me that there's more risk in hoping for this to happen, than to unload the first time we sliced through it. Having said that, my volume indicators are showing a heavily dover sole situation and a bounce can be expected soon, if not by Monday, then very soon thereafter. Link to comment Share on other sites More sharing options...
GTNWORSE Posted May 1, 2004 Report Share Posted May 1, 2004 Brian, does that include oil related issues like OMNI??? Link to comment Share on other sites More sharing options...
flockofsheeples Posted May 1, 2004 Report Share Posted May 1, 2004 got an email from a guy I haven't heard from in a year last weekend (the perfect contrary indicator, he is) asking (telling?) me about a few stocks. I have his email if you guys would like it to thank him for getting ms market to tank. Link to comment Share on other sites More sharing options...
brian4 Posted May 1, 2004 Report Share Posted May 1, 2004 Gtn- I think Oil is ok-but you gotta remember that in a panic-should we get one everything gets sold. I am assuming you are not down on omni so if that is the case hang a real tight stop on it that will get you out in one piece. I constantly preach the value of "stops" but very few listen my maximum risk (unless I am playing with the house's money) is 3 points which means I get a paper cut instead of my head handed to me on a plate. Link to comment Share on other sites More sharing options...
GTNWORSE Posted May 1, 2004 Report Share Posted May 1, 2004 Thanks Brian. It's been one of my best stocks, and I would hate to part with it, but I'll put in the stop on it. Link to comment Share on other sites More sharing options...
DrStool Posted May 1, 2004 Report Share Posted May 1, 2004 I like Kerry. He is cautious and indecisive. Just what we need. Much better than an aggressive, impulsive, vindictive, abusive alcoholic. Link to comment Share on other sites More sharing options...
HiHat Posted May 1, 2004 Report Share Posted May 1, 2004 END..........i listened to the Mayan interview. it's good stuff. Fits in with what i have long felt concerning that what took Rome 700 years to rip through........We are transversing it a lot quicker. Also like the Mental-Being........paradigm............ . Peace of Mind.......... ......................... Centeredness....................... ............................Certainty........................................... ............................Pattern Recognition............................................ Hey ........it could work for TRADING Link to comment Share on other sites More sharing options...
DrStool Posted May 1, 2004 Report Share Posted May 1, 2004 The possibility of a runaway breakaway gap below the major support level the market closed at cannot be dismissed. I told folks in Stooltrading late in the day, that while a crash is an extremely low probability event, that these are exactly the conditions under which they can occur. Under the circumstances, I felt that it would be a good bet to be positioned for such an event before the close today, with the appropriate protection in place. This is just one of those moments. I would not worry about short term downside targets, which I am updating in the Anals right now. They may hold for a short up phase, or the market might blow right through them. I will be posting details and pictures in the Anals in about 45 minutes. Take a subscribatory, and get in NOW! Click the link below to get yours! Link to comment Share on other sites More sharing options...
The End Posted May 1, 2004 Author Report Share Posted May 1, 2004 Hi Hat, I am glad you enjoyed it. Have a good weak-end all. See ya later. Link to comment Share on other sites More sharing options...
stained jeans Posted May 1, 2004 Report Share Posted May 1, 2004 while a crash is an extremely low probability event, that these are exactly the conditions under which they can occur. Probably true, Doc. 20-day MA is always above 200-day MA in my research (which we have). I suspect that 1087 needs to fall first, though. Link to comment Share on other sites More sharing options...
brian4 Posted May 1, 2004 Report Share Posted May 1, 2004 TE-I found it fascinating as well-but then you knew i would! Doc I have to agree on Kerry-he has some gravitas here North of the Border-he is an Internationalist, he knows Canada eh! and he speaks fluent french and like Canadians he is cautious. Having said that I am a Conservative in Canada that is slightly to the right and the Liberals (read Dems) are slightly to the left. On the Pub side in the States I like Sen. Hagel and McCain and on the Dem side I think you have a rising star in Sen. Landreaux in between you have a mind numbing number of idiots like Charles Grassley -but then so do we! The trick in both Countries is to keep the idiots from power. Link to comment Share on other sites More sharing options...
stained jeans Posted May 1, 2004 Report Share Posted May 1, 2004 Was wondering if the concensus here would agree with Stained and expect a rally back to the 50 day to unload the rest of my longs, including High Yield bond funds, and get fully short? I agreee with MWH and B4 that crossing the 50-day makes your longs a greater risk. If we were also below the 200-day I would sell and move short ASAP. Since we're above the 200-day, it may be less painful to hedge your longs with shorts if possible rather than take a loss now. Some kind of bounce will come sometime. For example, if I were long 200 shares of SPY, i might short 400 QQQ. Sometimes we gotta protect our delicate trading psyches... Link to comment Share on other sites More sharing options...
DrStool Posted May 1, 2004 Report Share Posted May 1, 2004 We failed that test. Link to comment Share on other sites More sharing options...
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