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#136 fxfox

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Posted 02 December 2002 - 05:14 PM

tiiiiiiii-iiiiiii-mmmmmmmm-e iiiiiiis on my siiiide, yessss it iiiiissssssssssss, tiiiiii-iiiiii-me...............................

:lol:

we are just days away form seeing bulls getting their trousers ripped off in which they pissed in just seconds before. Could be tomorrow :lol:

Just re-watching todays action:
We had a monster style downmove after "not so good" ism data was published, means they start to sell the "bad" news, good for the bears. Then we had after all a very weak sideways upphase which never made a serious effort to test the highs again.

This is the first day since weeks i can remember we had such action like today (up-gap, monster downmove, meandering at low levels).

Risk/reward is now more than definitely on the bears side.

:)
'patriot' is formed with 'patria' and 'idiot'

#137 mjkst27

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Posted 02 December 2002 - 05:18 PM

TE - not a key reversal on Dow. Todays close is 15 points above Friday's low print.

S&P by my calcs, however, is a key reversal down day today. Didn't check OEX or NDX

What that all means I have no real clue :blink: :(

#138 sweefraapp

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Posted 02 December 2002 - 05:18 PM

I moved into some more puts after 4PM for tomorrow. They were going at the bid - I don't really like that. I am tired and suspicious of the up moves, but this looks pretty good for the down side. Only will risk what I can comfortably lose under these conditions.

#139 PileDriver

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Posted 02 December 2002 - 05:20 PM

Absolutely amazing. More power to any of you who can trade this pos.

I agree. I've been side-lined since Oct 23rd watching this madness. Just a couple of bear fund trades since then that sucked wind for me. Oh well.

Everything is in place for a major top, just need solid price breakdowns to confirm.

This is/was one hell of a levitation act. Gotta hand it to 'em.

#140 Slothrop

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Posted 02 December 2002 - 05:24 PM

Discussion of "key reversal" and what it means over on Dr. Bontchev's TA forum.

Basically, legendary trader Larry Williams thinks "key reversals" might actually be continuation patterns. It's in the current issue of Active Trader.

I think it depends on where the key reversal shows up -- which ewave, what the MACD looks like, etc.

#141 sweefraapp

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Posted 02 December 2002 - 05:25 PM

There's a bit of pressure on MSFT AH.
$57.56.

#142 mjkst27

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Posted 02 December 2002 - 05:26 PM

what we need now is a frightening gap down one of these mornings

#143 sweefraapp

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Posted 02 December 2002 - 05:26 PM

OEX puts up a bit at 4:15 close.

#144 simple guy

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Posted 02 December 2002 - 05:28 PM

Fwiw

Prechter's group updates tonight, I will post the summary...

However, on Fri night, his group basically called for final top at 1508-1535 on the NAS to complete Wave v of C of the ABC Corrective rally... and ending Wave 2...

Wave 3 should start. In his defense, he added to look for 1444 or so to CONFIRM the leg down has begun.

I didnt wait, as Im greedy... and the turn dates are within 24-48 hours. Also, 8 weeks up?? Please...

Should be down next 2 weeks starting tomorrow... we shall see...

#145 fxfox

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Posted 02 December 2002 - 05:29 PM

what we need now is a frightening gap down one of these mornings

totally agree. That should be the last thing we need for confirmation.
'patriot' is formed with 'patria' and 'idiot'

#146 PileDriver

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Posted 02 December 2002 - 05:32 PM

SG, I "have no sack" and will wait for trendline break (1441) to confirm ewave peak. Even though I know damn well I should do it now.

Good luck!

#147 Fartpolio Manager

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Posted 02 December 2002 - 05:40 PM

16:37 UAL HALTED NEWS PENDING

#148 fxfox

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Posted 02 December 2002 - 05:47 PM

no data tomorrow, was in the past often used to hold the market more or less stable. Wednesday could be the real turner (procuctivity, factory orders and ism for service sector).

Good night.
'patriot' is formed with 'patria' and 'idiot'

#149 torah man

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Posted 02 December 2002 - 09:10 PM

firstly fxfox, the news might come not from an official report but from a company with something to get off of its chest. like ual mentioned in the post before you.


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