4shzl Posted July 24, 2007 Report Share Posted July 24, 2007 Bear trap set. Check. Bears take bait. Check. Green close. Check. How much easier can it get? 593186[/snapback] Yenamoto-san says maybe not so easy this time. Link to comment Share on other sites More sharing options...
DrStool Posted July 24, 2007 Report Share Posted July 24, 2007 While you guys are remembering 1997, I'm remembering 1967 and 77. I was really surprised that no one recognized those Dow charts of 1972-74 over the weekend. Those patterns are indelibly etched in my brain for all time. Funny thing is that during my first 15 years of involvement with the market it swung both up and down, and the majority of stocks either did poorly, or went nowhere. It's probably why it's so difficult for me to get unqualifiedly and enthusiastically bullish. My upbringing says that it can't last. 593144[/snapback] In those days the only charts over here were Hoppenstedt charts by country or general at about 35$ for one booklet per month And I had a tape recorder I put a clock on so that at midnight I could get the closing of the US market from the American Forces broadcast out of Germany Then by hand I would continue the charts for about three months and buy a new set 593173[/snapback] How well I remember. Here, we had Trendline, Mansfield, and Chartcraft (point and figure.) I kept my own charts on paper as well. In 1982, started charting with Metastock on an Apple IIe. Also that year I had a programmer at the brokerage firm I was with write a MACD charting program on the office mainframe that we could use on our terminals. We were state of the art at that time. We were preaching all about positive and negative divergences to a handful of institutional clients. Those were the days. 593179[/snapback] Sounds like heaven compared to the caveman days when they had to draw charts using stone and a chisel. Not to mention, schlock prices were only updated once every 500 years. And there was only one schlock to trade, Amalgamated Fire. When the ice age hit, Amalgamated Fire took off like a stuck ape. And when the iWheel was invented some millennia later, the bull market began in earnest. 593180[/snapback] How well I remember. 593184[/snapback] If I recall, weren't you short FIRE and WHEEL, Doc? What a short squeeze that was. 593187[/snapback] Oy. You had to remind me. Had to remortgage the mud hut. Still paying it off. Link to comment Share on other sites More sharing options...
DrStool Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. Link to comment Share on other sites More sharing options...
Private Skidmark Posted July 24, 2007 Report Share Posted July 24, 2007 Nice move on Lockheed. Keep the bombs coming. Link to comment Share on other sites More sharing options...
Private Skidmark Posted July 24, 2007 Report Share Posted July 24, 2007 CCJ + URPTF. Uranium is on sale. At least UEX is still holding up. Link to comment Share on other sites More sharing options...
cwd Posted July 24, 2007 Report Share Posted July 24, 2007 Deflation and major correction around the corner? Pump and Dump It all seems too obvious. 593175[/snapback] Didn't GS make a 100 dollar/barrell call about a year ago just prior to the last top? 593185[/snapback] Goldman's Sac predicterated $105 earl back on March 30, 2005. Their timeframe was "by 2007." Earl was trading at $58 at the time. The 3/30/05 report marked a s/t peak in the price of earl. It declined for two months and made a bottom at $48 by the end of May. http://www.businessweek.com/bwdaily/dnflas...050427_2905.htm 593189[/snapback] Thanks for the accurate info. Link to comment Share on other sites More sharing options...
cwd Posted July 24, 2007 Report Share Posted July 24, 2007 CCJ + URPTF. Uranium is on sale. At least UEX is still holding up. 593200[/snapback] CCj approaching 200ma. Chart does not include today's 1.45d drop Link to comment Share on other sites More sharing options...
try2win Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] we are in a bear market ?? i am being serious. wHY? Link to comment Share on other sites More sharing options...
LeeWhee Posted July 24, 2007 Report Share Posted July 24, 2007 Crooks having a field day. They bonered up KLIC-KLAC (by far the largest weight in the sexy SOX) to multi-year resistance last week. Then painted an eye-catching bull-flag. Today they gap it down and erase last week's boner. Buy-and-holders show 0% gains for the week. Crank/shank artistes are up 10%. Casino Royale. Link to comment Share on other sites More sharing options...
dogsie Posted July 24, 2007 Report Share Posted July 24, 2007 Q's still seen as flight to quality. I just don't get it. I guess it will work until it doesn't. Link to comment Share on other sites More sharing options...
Bungster Posted July 24, 2007 Report Share Posted July 24, 2007 Financials aint lookin purdy either.... Link to comment Share on other sites More sharing options...
potatohead Posted July 24, 2007 Report Share Posted July 24, 2007 While you guys are remembering 1997, I'm remembering 1967 and 77. I was really surprised that no one recognized those Dow charts of 1972-74 over the weekend. Those patterns are indelibly etched in my brain for all time. Funny thing is that during my first 15 years of involvement with the market it swung both up and down, and the majority of stocks either did poorly, or went nowhere. It's probably why it's so difficult for me to get unqualifiedly and enthusiastically bullish. My upbringing says that it can't last. 593144[/snapback] In those days the only charts over here were Hoppenstedt charts by country or general at about 35$ for one booklet per month And I had a tape recorder I put a clock on so that at midnight I could get the closing of the US market from the American Forces broadcast out of Germany Then by hand I would continue the charts for about three months and buy a new set 593173[/snapback] How well I remember. Here, we had Trendline, Mansfield, and Chartcraft (point and figure.) I kept my own charts on paper as well. In 1982, started charting with Metastock on an Apple IIe. Also that year I had a programmer at the brokerage firm I was with write a MACD charting program on the office mainframe that we could use on our terminals. We were state of the art at that time. We were preaching all about positive and negative divergences to a handful of institutional clients. Those were the days. 593179[/snapback] Sounds like heaven compared to the caveman days when they had to draw charts using stone and a chisel. Not to mention, schlock prices were only updated once every 500 years. And there was only one schlock to trade, Amalgamated Fire. When the ice age hit, Amalgamated Fire took off like a stuck ape. And when the iWheel was invented some millennia later, the bull market began in earnest. 593180[/snapback] How well I remember. 593184[/snapback] If I recall, weren't you short FIRE and WHEEL, Doc? What a short squeeze that was. 593187[/snapback] Oy. You had to remind me. Had to remortgage the mud hut. Still paying it off. 593196[/snapback] I believe the correct name for the small investor/consumer in those days were Neanderthals. http://www.maxilofacial.info/images/neanderthal.jpg on the other hand the Pigmen were known as Cro Magnons. http://www.space1999.net/catacombs/main/im...fc/sptfc063.jpg The Cro-Magnons must have come into contact with the Neanderthals, and are often credited with causing the latter's extinction, although morphologically modern humans seem to have coexisted with Neanderthals for some 60,000 years in the Levant and for more than 10,000 years in France. Link to comment Share on other sites More sharing options...
DrStool Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] ouch! had to let go. Link to comment Share on other sites More sharing options...
LeeWhee Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] we are in a bear market ?? i am being serious. wHY? 593203[/snapback] They say, "There's always a bull market somewhere." I guess there's always a bear market somewhere too. Here are a few of the grinding, multi-year bear markets right now... Link to comment Share on other sites More sharing options...
lineup32 Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] ouch! had to let go. 593209[/snapback] I sold my position for a couple dollars this am , going to wait for this 2632 level Lee talks about Link to comment Share on other sites More sharing options...
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