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#1 DrStool

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Posted 17 October 2008 - 04:01 PM

Well, we had a false breakout of a nice little 2 day reverse head and shoulders pattern. They sucked in the short term traders and spit them out. Bulls are gonna become an endangered species if this continues. Even short term girliebulls.

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#2 T_Slim

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Posted 17 October 2008 - 04:07 PM

whew glad that's over, says the ppt.

#3 astral mike

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Posted 17 October 2008 - 04:25 PM

today's candle played out to a tee...

pattern says 3 days of hard down starting from monday...

1929.jpg

spx also following silver chart fractal...

silver_spx_fractal.jpg

#4 MrHanky

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Posted 17 October 2008 - 04:30 PM

today's candle played out to a tee...

pattern says 3 days of hard down starting from monday...

1929.jpg

spx also following silver chart fractal...

silver_spx_fractal.jpg

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If that is correct,it looks like we will visit around dow 7k on the next leg down...Anyone agree?or far lower :ph34r:

Gonna be ugly if we take out the recent lows.....

Nothing


#5 Bungster

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Posted 17 October 2008 - 04:34 PM

Funny article on Bloomberg....

Lahde Quits Hedge Funds, Thanks `Idiots' for Success

``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government.

``All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.''




"It's tough to make predictions, especially about the future" Yogi Berra
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#6 b1ff

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Posted 17 October 2008 - 04:35 PM

Well, we had a false breakout of a nice little 2 day reverse head and shoulders pattern. They sucked in the short term traders and spit them out. Bulls are gonna become an endangered species if this continues. Even short term girliebulls.

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Siddown!
girlebull.jpg

#7 sarcastro

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Posted 17 October 2008 - 04:46 PM

My dream come true- Warren Buffett says buy U.S. stocks!

http://www.usatoday....ks_N.htm?csp=34

It's not my dream come true for the "obvious" reasons- ie. that I think Buffett is some kind of wise sage or some such nonsense. It's my dream because I've been saying FOR YEARS that WB is overrated, and has been lucky rather than good (though lately, he's been neither). Now, we'll find out once and for all! B)

#8 Jetlag

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Posted 17 October 2008 - 04:50 PM

I guess this will tell us when things get back to "normal"

IRX.png

Weekly and linear chart for less drama:
IRXweekly.png

Back in March the market actually bottomed when IRX started to tank. Different times...

And the even more important market rates:

"The cost of borrowing dollars in London fell, capping the first weekly decline since July, after central banks around the world pumped unprecedented amounts of cash into money markets and governments backed loans.

The London interbank offered rate, or Libor, for three- month loans in dollars dropped for a fifth day, sliding 8 basis points to 4.42 percent, the British Bankers' Association said. It declined 40 basis points this week. The overnight rate for dollars slid 27 basis points to 1.67 percent, the lowest level since September 2004. Asian rates also fell. "

http://www.bloomberg...xk6Q&refer=news

#9 DrStool

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Posted 17 October 2008 - 04:58 PM

Funny article on Bloomberg....

Lahde Quits Hedge Funds, Thanks `Idiots' for Success

``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government.

``All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.''




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How bout a link to that?

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#10 agent.5

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Posted 17 October 2008 - 04:59 PM

How bout a link to that?

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http://www.bloomberg...id=aLmRPHKZLYmY

#11 byhiselo

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Posted 17 October 2008 - 04:59 PM

If that is correct,it looks like we will visit around dow 7k on the next leg down...Anyone agree?or far lower :ph34r:

Gonna be ugly if we take out the recent lows.....

View Post


IF this plays out and the charts say its a strong possiblilty,

i'll be buying DOW 7100 and equivalent DDM, SSO, UWM with both hands near the close on Wednesday...a pukefest like we haven't seen in a long time

again, i'm hoping it doesn't happen as a lot of good people will be hurt financially and are going throw in the towel at the bottom and will not be in position to buy back in

hoping for the best... :ph34r:

#12 Bungster

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Posted 17 October 2008 - 05:01 PM

http://www.bloomberg...id=aLmRPHKZLYmY

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Tanks! :rolleyes:
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#13 Speakeasy

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Posted 17 October 2008 - 05:04 PM

First woman to buy a seat on the NYSE. Yup, she's been dere and done dat, recently a bank examiner somewhere in New York.

She's advocating sending Treasury teams thru each banks books and taking pre-emptive measures against the exposive turds on the books and making law the netting out of all derivatives that can be and introducing regulation on any new ones. Protection only if there is an underlying position to protect.

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Most sensible thing I've heard out of any pundit. There are one or two other folks, I can't remember who, saying similar things.

I'm starting to put inn some lo-ball orders for a few miners and odds and ends to catch any capitulation spike-downs.

Man, I sure hope Beardrech is catching this long awaited market nervous breakdown. Perhaps he's even able to read the stool some. If so, here's a big wave to you, Brer Bear. Now quit goldbricking and get back to your post. :D

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#14 byhiselo

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Posted 17 October 2008 - 05:19 PM

Funny article on Bloomberg....

Lahde Quits Hedge Funds, Thanks `Idiots' for Success

``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government.

``All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.''




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870% last year? i'm sure he's got a job when he is ready, i can't argue with his sentiment

#15 Pretzel Logic

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Posted 17 October 2008 - 05:23 PM

If that is correct,it looks like we will visit around dow 7k on the next leg down...Anyone agree?or far lower :ph34r:

Gonna be ugly if we take out the recent lows.....

View Post


My charts have been so accurate since 10/9 that it scares me. Per my posts, I called the "bottom" on Fri., nailed the top on Tues. almost to the dollar, nailed the drop and retrace Wed. thru today (Phat will vouch for me here).

That frightens me, because my charts are still telling me we make a new SPX low in the 600s. The only thing I'm not sure of is if we go down to low-mid 700s, then back up to 1000, THEN down for the final IT bottom.

Well, I should say: I'm still not sure of any of it. :lol:

But that's my best guess.

*Disclaimer: No one should listen to me or attempt to trade based on my opinion. :blink:
In honor of the times, back to the 2008 signature:

"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday





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