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#1

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Posted 02 December 2002 - 08:45 AM

Good morning, everyone.

Late last night I ran across a most interesting article in the November 10 New York Times Week in Review section about how modern technology is now able to locate things on the bottom of the sea that were previously unfindable.

After talking about the discovery of the Titanic, The Bismark and Gus Grissoms Liberty Bell space capsule, the article ends by saying that:

All too often, finds of human artifacts are anything but uplifting. Explorers report sightings af tires, coke cans, tennis shoes, plastic trash bags and all manner of detritus. The junk is spurring efforts to clean up shipboard life. Karen L. Von Damm, a marine geochemist at the University of New Hampshire, was exploring the deep Atlantic more than a mile down when she came upon an abandoned toilet.

"It was this white thing in the distance." she recalled. "The seat was still attached and up."


Now wouldn't it be interesting if on some future expedition a stock ticker tape machine of 1929 vintage was discovered on the bottom?

#2 DrStool

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Posted 02 December 2002 - 09:17 AM

Uncle Buck and the Golden Stool

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#3 simple guy

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Posted 02 December 2002 - 09:19 AM

SG chimes in

Well, last Wed morning I covered my QQQ 200% shorts at the 1045 print, citing room for a major move up left yet. Better safe than sorry.

On Friday I posted some targets
QQQ- 30
SPY 955-970
Dow 9200-9300
NAS 1520-1530


Now, I have also posted that I am open minded enough and smart enough to read a chart and not FIGHT THE TAPE.

The NDX could see 1200 plus easily... Q's could get to 31-32 range as well before topping.

One thing is for sure, the rally is finishing up its final legs upward. The main scary index is NAS... if she is retracing from January highs then we may be looking at 1620 plus.

Im out for now... and watching. Holding 3 small cap long positions, all profitable and holding

#4 simple guy

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Posted 02 December 2002 - 09:20 AM

The .wav files are cute, but becoming very annoying... just mho

#5 DrStool

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Posted 02 December 2002 - 09:27 AM

My life is passing before my eyes.

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#6 simple guy

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Posted 02 December 2002 - 09:29 AM

A very good reminder of the problems ahead from our boy Bill Fleckenstein

Fleck's take on the Bear rally

One of the few brilliant anal cysts out there IMHO. In addition to the Comstock Partner boys, who write a comment nightly, and have beat the SP 500 the last 1, 3, 5 years...
Minter and Weiner of Comstock Partners Funds

#7 simple guy

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Posted 02 December 2002 - 09:37 AM

A few simple ideas to keep you out of trouble

The QQQ's topped out in January around 42. They fell to 20. A 50% retracement places them at $31. A 62% retracement at 33 ish...

They are at 28.39. Just a thought lest you be salivating to jump in... they passed the 38% retracement level already... so you need to assume $31 or close, IMHO

There is June congestion at 28-30, but you can see the 31-33 range as possible...

Attached Images

  • qqq3.gif


#8 GregFokker

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Posted 02 December 2002 - 09:37 AM

Looks like Machinehead had it exactly right. The question is how this will impact gold- it's down in USD, of course, but should rocket in other currencies.

From Bumberg.com: The yen was set for its biggest drop against the dollar in 2 1/2 years after the Mainichi newspaper's Web site quoted Japanese Finance Minister Masajuro Shiokawa as saying the currency should weaken as much as 23 percent.

NDX Future
Posted Image
Credit: http://money.cnn.com

S&P 500 Future
Posted Image
Credit: http://money.cnn.com

...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech

Naturally we believe the govt numbers... and Boobus Americanus sleepwalks off the edge of the energy-crisis cliff clutching his shares of "Crisco", Yoohoo and GooGah munching on his Yum Yums and Ho Hos. Future historians will have a hell of a time figuring out what the hell Americanus neanderthalus was thinking and exactly what brought on his sudden demise... - Henny Penny

Well, good night everyone. I gotta go lube up for tomorrow's regular end-of-week Gold Slapdown and Stock Index Bear Punishment Rally Weekend Greenprint. ...Probably another Shock-and-Awe Gap-Up-Open and Wire-to-Wire Meltup Runaway Bull Charge Mo-Mo Spike to Fresh New All-Time Lifetime Highs, culminating in a 4:15 yelping scalded dog runoff with panic short-covering and legal not-held bad double fills due to fast market conditions, plus quote system freeze-ups and trading platform lock-outs along the way. *yawn* typical gov't Friday. - Shorty


#9 simple guy

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Posted 02 December 2002 - 09:39 AM

Correction:

38% retracement is 28.36.... we are at 28.39...

Guess that bears watching this morning eh?

#10 Takachi

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Posted 02 December 2002 - 09:42 AM

All we need now is an announcement that UAL avoids bankruptcy and it will shift into hyper drive. On the other hand, if it goes the other.

#11 GregFokker

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Posted 02 December 2002 - 09:42 AM

Uncle Buck, of course, has strapped on boosters.

...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech

Naturally we believe the govt numbers... and Boobus Americanus sleepwalks off the edge of the energy-crisis cliff clutching his shares of "Crisco", Yoohoo and GooGah munching on his Yum Yums and Ho Hos. Future historians will have a hell of a time figuring out what the hell Americanus neanderthalus was thinking and exactly what brought on his sudden demise... - Henny Penny

Well, good night everyone. I gotta go lube up for tomorrow's regular end-of-week Gold Slapdown and Stock Index Bear Punishment Rally Weekend Greenprint. ...Probably another Shock-and-Awe Gap-Up-Open and Wire-to-Wire Meltup Runaway Bull Charge Mo-Mo Spike to Fresh New All-Time Lifetime Highs, culminating in a 4:15 yelping scalded dog runoff with panic short-covering and legal not-held bad double fills due to fast market conditions, plus quote system freeze-ups and trading platform lock-outs along the way. *yawn* typical gov't Friday. - Shorty


#12 simple guy

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Posted 02 December 2002 - 09:42 AM

This guy has 9400 DOW target before a move to 6700 by March...

Decision Point DOW opinion

#13 DrStool

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Posted 02 December 2002 - 09:44 AM

When a sound file is embedded on a page, it plays when the page is opened. The first page of the thread tends to stick around longer because there are fewer posts early. You can shorten the page length from the default of 20 posts per page down to as few as ten, in the Borad settings section of "My Controls".

I will use fewer sound effects. They get on my nerves too. (I turn the speakers off.) :lol:

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#14 simple guy

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Posted 02 December 2002 - 09:47 AM

Thanks DOC

I can only listen to the same song 23 times before my brain goes numb..., ok, 22 times...

#15 simple guy

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Posted 02 December 2002 - 09:51 AM

Final post of the morning

Q's about to break out of a 6 day base on likely above average volume... reminds me of the days when I used to read Bill O'neil. Everyone should know I was a RAGING BULL in the 90s... and still remember how to read a chart and not fight the tape.

Ignore at your peril, bearish or not...

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  • qqq3.gif






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