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#46 Yaryman

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Posted 30 October 2003 - 09:51 AM

Remember just TWO DAYS AGO when the Fed told us there was possible danger ahead for the economy?

I know NOBODY cares the Fed is bald face lying to keep interest rates low.

Nice to see nobody learned nothing in the last 3 years.

#47 BartTheBear

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Posted 30 October 2003 - 09:52 AM

This might be a pump and dump, but I'm sure not bettin' that way. Too dangerous.

#48 machinehead

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Posted 30 October 2003 - 09:54 AM

Futures indicating new highs on all indicies except DJX

Gold still holding +$3.50

... which will mean new lows in implied volatility.

My instinct would be to sell the news, if I wasn't already short. But Mr. Marke hasn't been paying much attention to me lately.

Set realistic goals -- if the index fuc-u-tures close below the open, that would be a small victory. We've got Snowman (best player on our team) on deck at 10:00 a.m. Surely he will come through for us, as he always does.
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

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#49 longOnUranus

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Posted 30 October 2003 - 09:54 AM

Remember just TWO DAYS AGO when the Fed told us there was possible danger ahead for the economy?

I know NOBODY cares the Fed is bald face lying to keep interest rates low.

Nice to see nodoy learned nothing in the last 3 years.

Yary - "Two days ago"...that's a trailing indicator, dude! Get with the program. "Today's" GDP is where it's at!

Triple red by the close, or I'm back to Yahoo and RagingBull.

Will short FNM on any strength.

#50 wndysrf

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Posted 30 October 2003 - 09:57 AM

Top gainer in the PreMarket.

Mo-Mo should grab this one.

Another head and shoulders pattern that wedged out and is now starting a Bone Blast to new highs.

Up $3 or so.....

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#51 chiefywiefy

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Posted 30 October 2003 - 10:00 AM

I'll post this one last time. I really never thought the QQQ's would get here. But, if the QQQ's hit the 1.618 area, I'll sell the miners and short though Ryvnx.


QQQ's on closing basis:

A. Oct02 20.06
B. Dec02 28.00
C. Feb03 23.80
D. ????

A to B=C to D

1-1.5 fib D= 35.71
1-1.618 D= 36.64

Those are on a closing basis. Intraday, the spike would be higher.

#52 rog

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Posted 30 October 2003 - 10:02 AM

Futures indicating new highs on all indicies except DJX

Gold still holding +$3.50

... which will mean new lows in implied volatility.

My instinct would be to sell the news, if I wasn't already short. But Mr. Marke hasn't been paying much attention to me lately.

Set realistic goals -- if the index fuc-u-tures close below the open, that would be a small victory. We've got Snowman (best player on our team) on deck at 10:00 a.m. Surely he will come through for us, as he always does.

Nasty having trouble staying over the breakout line. Spoos stalled 1pt over, DJX approx 20 under

#53 Bearman

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Posted 30 October 2003 - 10:03 AM

Highs on Oct15 dec s-p was 1055.75

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Posted 30 October 2003 - 10:05 AM

AEM is indicated in the premarket to open around the previous breakout point.

That is your buy point... the first obvious target is then the top of the gap.

http://quotes.nasdaq...rs&selected=AEM

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#55 rog

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Posted 30 October 2003 - 10:05 AM

Highs on Oct15 dec s-p was 1055.75

Good point, that has not been taken out.

I was trying to extrapolate the cash opening levels based on the futures in my posts

#56 BartTheBear

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Posted 30 October 2003 - 10:05 AM

The market is threatening new highs without being overbought. A clean break through (and close above) the 1054 area on strong volume and...well lets just say I wouldn't want to be short right now and leave it at that.

#57 Madame Wrecked Him

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Posted 30 October 2003 - 10:07 AM

Among the heady GDP news the jobless claims this morning aren't getting as much attention:

First-time claims for state unemployment insurance benefits fell to 386,000 in the week ended Oct. 25 .... from a revised 391,000 the previous week

Last week they reported:

New applications filed for jobless benefits declined by a seasonally adjusted 4,000 to 386,000. Claims for the week ending Oct. 11 were revised up to 390,000 rather than the 384,000 previously reported

http://story.news.ya...o_ec_fi/economy

So, in brief:
- Last week was revised up by 5k
- The week before was revised up by 6k

I should have kept the links from the past couple of months. I could have sworn this upward revision occurs every week.

#58 Bearman

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Posted 30 October 2003 - 10:07 AM

sold more e mini against 1055.79
stop a few pts above

p/c will be in the 30's this am at this rate

vix ? Oh that is an old thing of the past :lol:

#59 machinehead

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Posted 30 October 2003 - 10:08 AM

Gotta go out today, but will leave this thought. J6P thinks "strong GDP is bullish." Not so.

Check out that last higher GDP report, 19 years ago in 1Q 1984. The DJIA had hit its peak at 1287 on 29 Nov 1983. It sold off sharply in the blowout 1st quarter of 1984, and carried on falling until 24 July 1984 when it bottomed for the year at 1086.

GDP is one of those Goldilocks statistics - "not too weak and not too strong" is potentially bullish. Extremes (weak or strong) spook Mr. Marke.
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals."
- our jickiss

#60 soup

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Posted 30 October 2003 - 10:08 AM

needless to say who is lying? gdp @7 odd % ( yeah right) or short term int rates at 1%? THe 7% number tells me we are very near the end of the game. THis is outright fraud and panic on the part of the statists, they know the end is near. I
""Pretty bubbleheads preen daily on our financial networks, playing the shill to Wall Street and Washington in order to lure unsuspecting Americans into buying insanely overvalued stocks. The great market exchanges, once prudent arenas of investment where the engine of capitalism traded value for value, have become sham casinos staggering under decades of massive Fed created debt and lurching into oblivion on the greater fool theory. Yet our high level bureaucrats, led by Alan Greenspan, exhort all Americans to consume still more of their seed corn and seek still more fools." N. Hultberg





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