The Best Friend
502 replies to this topic
Posted 01 June 2003 - 10:54 PM
Damn, I don't post because I don't have any TA to offer.
I always look for your posts on MtM. I greatly value your opinion.
We need all the input we can get.
Don't let someone (whose posts in all probably can't influence the market one way or the other) keep you from continuing to provide the rest of us with your insight.
Please continue with the updates!!!
Posted 01 June 2003 - 10:57 PM
Looks like tomorrow I could be waving white flag.
Jokes and Spoos have bull flag on Friday and Nasty has an ascending triangle.
No more patience pills. They are to be chewed and very bitter.
Posted 01 June 2003 - 11:03 PM
Big excuse due to Bin Laden, Iraq, SARS, slowly fades,
now, no more excuse... it is time to see the reality. ...
hyptertiger already set that timer
Posted 01 June 2003 - 11:04 PM
2 months ago my 401k which was all in cash actually reported a loss of $40 -- from the MM account!
So I had to dong some FIDO Funds, just for capital preservation...had a limited number of options there...
In my IRA accounts I'm still net short, but I've scaled 1/2 out of the Bearx just to limit the bleeding. This next week I'll either put that back in or take more out, depending on which way the wind blows.
It made me feel dirty and ashamed to do that, and I'm nervous as cat in a room full of rocking chairs, with an itchy trigger finger ready to hit the sell button when the turn comes...I'm hoping for extra cathartic stimulation from selling long positions on top of buying more short funds -- maybe some RYDEX this time, for some leverage...
As much as I can I follow the Good Doktor, trying to position myself on the right side of the trend -- the other information is interesting, but I follow the Stool.
Since Mark has "retired" M2M on the weekends has been unbelievably informative -- it IS humbling to me to note that what I have found so interesting, BB has found off-putting. Sigh.
Gentle Stoolies, May June 2 forever be known hereafter as Black Monday in the Great June Swoon of '03.
Good luck to all,
Posted 01 June 2003 - 11:08 PM
from some one other than the DoK, I have in my diary a note that June 2 is the end of an intermediate Bull... don't remember who says so....
Posted 01 June 2003 - 11:09 PM
They held the SnP in 960-965 in order to blast it off through 974 on Monday and bring in the final boosters. This should be good. Stocks ramped to the moon, crap up 50% in a day. Gold hammered.
Big finger coming up. We live in interesting times indeed.
Posted 01 June 2003 - 11:13 PM
Col Dashley: I read Torahs post and realized that is the same position I'm in. We stubborn bears screwed up badly. I have to hope it turns down soon to salvage trading capital. I'm in until Sept unless it just keeps going up.
I do think its going to correct and correct hard in the next two weeks. If not, then I will have a lot of free time again.
Posted 01 June 2003 - 11:15 PM
Interesting excerpt from the free mailing of Stockmarkettimer.com:
"Commercial Hedgers were essentially flat in the S&P's last week, buying a net 52 contracts. The bullish trend that started in early March is still alive, but Commercials are no longer net long in all three major equity index futures, as the Nasdaq futures turned negative this week. Over the last three weeks, Commercial Hedgers have sold a total of 8,603 Nasdaq contracts. Since Commercial action often leads the market, their selling into a rising NDX has negative implications for the intermediate term. "
Posted 01 June 2003 - 11:22 PM
other indicators this month
Posted 01 June 2003 - 11:25 PM
You know blackbelt I'm sorry you feel the way you stated-I'm a pro and you are too- a lot people on this thread need your and my and others insight-yes it's pretty shabby when a chart of yours is copied elsewhere but hey isn't helping those who need it more important than worrying about the small minded prick who used your work to his/her advantage-think about it. I'm sore about my Buddy the End reaching the same conclusion as you! Remember Forrest Gump-"life is like a box of chocolates" Trade Safe!
Posted 01 June 2003 - 11:29 PM
Personally never cared for either of these men, because of their political views do not mesh with mine. I'm a conservative. Beyond this, I will not enter into a public discourse on politics. As far as reading a book on Buffett, no I live in Omaha, have known his family all of my life, and all the stories that go with it.
Doc, excellent post.
Posted 01 June 2003 - 11:32 PM
I well remember Rees-Mogg or JD Davison of "The Great Reckoning" capitulating and going long internets right at or near the top in Feb/March 2000. This is starting to have the same flavor.
If Hypertiger capitulates, I'm going 200% short with everything I can borrow from AG.
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