Guest Posted March 4, 2003 Report Share Posted March 4, 2003 Pigeon Drop: Thank you for your thoughtful response and insight. There should be no reason to fear reprisals her for thoughful discourse. I'm a big boy and can make decisions based on a variety of points of view. As for "skipping off to buy coins" - I'm not nearly that aloof about this decision...I am scared to death about how best to put cash to work (if at all) given the buzz saw that these markets have become. I've been playing it and learning for a few years with limited cash...but now we're talkin' live ammo. Some gold coins are definitely in my future, but the majority of the money will be spread in other ways. Plunger Link to comment Share on other sites More sharing options...
Oilman Posted March 4, 2003 Report Share Posted March 4, 2003 PD, it is true the longer and intermediate trend is still down. I think when you game the daily tape, you can be confused by da boyz. It is hard to make money against these bad ass boyz. Don't let them steal your hard earned money. Oilman Link to comment Share on other sites More sharing options...
wrecked him Posted March 4, 2003 Report Share Posted March 4, 2003 Some observations tonight. Please remember my field of expertise is sewing mangled hands back on. I am advised by Madame that this has nothing to do with TA. Reader beware!!! First let us post the 60 minute triangle on the DOW. Looks like e wave is done. Doesn't it. Key reversal. No, No. What you are looking at is a of E completed with b of E now in progress probably with a little more down to go-c (up) of E to follow. Note how the ADX on the 60 minute chart has not yet turned up. We're still in Jello. Next chart. This is the a and b of E wave of the triangle with c to go. Don't even try to count the a wave. I can do it but it hurts my brain. (basically abc-x-abc) Anyway it doesn't really matter as it is all part of the subwave. That first big move down off the high today is not motive. Looks it but it ain't. Check out a 5 minute chart. 7 different components not 5 or 9. We have completed a of E, and are now in (I think) 4 of c of b of E (confusing enough for you) with a slight move down (5) to go before c of E up.The ADX is trendless. Still Jello Next chart. See what I see. The a of E of the triangle looks mighty similar to the initial A wave of the triangle. Neat huh!! Repetition of waves in the triangle. What will be really interesting is how close to the apex of that triangle we get before it breaks. If it is less than 20% of the total distance of the triangle it is non limiting. I still think however that what happens at the October lows is going to be oh so important. And finally, remember (and I am plagarizing other stoolies far more learned than I), I know nothing. Link to comment Share on other sites More sharing options...
rayok Posted March 4, 2003 Report Share Posted March 4, 2003 By the way, I forgot to add that I think we are going higher for the pre-war rally and this giant plunge that some of you keep waiting for is like waiting for Godot. It isn't going to happen because John Q and his ilk are morons who are not going to hit the sell button no matter what. Sure we can go a lot lower, but it's going to be death by a thousand cuts. But please remember, I'm just a sleezy mortgage banker who doesn't know shit. Hahahah, John Q is never going to sell? How else did the Nasdog reach it's current levels? "People go mad in crowds and discover sanity one at a time." We only need one less buyer than sellers for prices to decline. Get ready for even more sanity in the future. Link to comment Share on other sites More sharing options...
PileDriver Posted March 4, 2003 Report Share Posted March 4, 2003 Exactly Oilman. Most leveraged hypertraders get killed. Can't see the forest for the trees and that's ashame because this bear is providing a huge money making opportunity and yet most will walk away dead even or in-the-red if they don't play it smart and patiently. I said over the weekend that this was (is) yet another "low-risk" shorting opp similar to the early Dec and mid-Jan highs and I still stand by it. Link to comment Share on other sites More sharing options...
The End Posted March 4, 2003 Report Share Posted March 4, 2003 WH, Nice charts. I noticed someone on ids noticed that at 3:33.33 pm est today the spx hit 833.03. I noticed that as well. Incredible. Good night! Link to comment Share on other sites More sharing options...
wrecked him Posted March 4, 2003 Report Share Posted March 4, 2003 BTW, in my totally incomprehensible chart above, the c of E of the triangle could be an overthrow or an underthrow. The triangle is getting pretty narrow now. No way to know although the market looks weak and I would be surprised with an overthrow. Either way, I think it's toast. Does anybody need their hand fixed?? Link to comment Share on other sites More sharing options...
phrith Posted March 4, 2003 Report Share Posted March 4, 2003 War is close at hand, a prominent Al Qaeda terrorist is caught in Pakistan, Turkey votes down military access to the US, North Korean jets fire at US military aircraft, and what does the BBC radio news lead off with on their afternoon broadcast? An interview with David Tice of Prudent Bear, outlining his views of where the US markets are heading, which is probably no new news to anyone on this board. (50-70% more of a decline on the DOW, with the bear dragging out another 4 years at least.) I can't imagine any prominent American media company allowing such a bearish view to be broadcast as their number one news story, especially with what is happening geopolitically right now. (Dan Rather sits down for a fireside chat tonight with Bill Fleckenstein...) Link to comment Share on other sites More sharing options...
Oilman Posted March 4, 2003 Report Share Posted March 4, 2003 Don't take these reversal lightly. As I recalled, this is the exact situation as Dec. 2. It is so funny how Da Boyz ramped the futures up before Monday's open and the ISM report on Dec. 2 and today 3/3/3(haha) only to bring it all in the negative by close and at near the low of the day at that. This is indeed a low risk situation. Oilman Link to comment Share on other sites More sharing options...
DrStool Posted March 4, 2003 Report Share Posted March 4, 2003 Turn! Or Should We Say, Turn? 3/3/03 On the surface the overall liquidity situation looks like it's not all that bearish for the time being, but always keep in mind, this. We watch the Feed, the bonds, and the dollar for contextual clues, but the stock market is the first and last judge. Price is the final arbiter, and if prices refuse to rise under ostensibly favorable circumstances, then the liquidity situation isn't so hot as it may appear. Stock market price indicators are the best and most timely indicators of general liquidity. Price is the final arbiter. Doc describes the dangers of the moment, examines the Feed and monetary data, chronicles the market cycles, and tells us where this shipwreck is heading, with hot pictures of naked stock charts, the Long Bong Hit, Uncle Buck and the Golden Stool. Will Uncle Buck ever get out of his sick bed? Will the Golden Stool ever recover, or is the move over now that Cramer is on board? Drop by your stock proctologist's office, and get the inside picture, all in the Anals tonight. Stoolies, log one in. If you're not a stoolie already, become one Now! And don't forget to join Doc during the market day in Stooltrading Beta as he plots the market's twists and turns for you, in advance yet! Link to comment Share on other sites More sharing options...
Yaryman Posted March 4, 2003 Report Share Posted March 4, 2003 This is so right on. As myopic as Al Green has ALWAYS BEEN, to blame any of the coming debacle on any one person is most simplistic. Each of us plays his own hand. And though the manipulations and interventions may flatten some folk under the big steamroller, in the end, each of us is master of his or her own fate. Observe. Learn. Act. Accept responsibility. Japan's bubble burst in 1990, and that cluckhead Alan Greenspan has gone on to make EVERY mistake the Japanese did. The Nasdaq was trading at 170 times earnings, and Easy Al explains it all with "productivity gains". Link to comment Share on other sites More sharing options...
DrStool Posted March 4, 2003 Report Share Posted March 4, 2003 Hey Wrecked Him- Maybe you can do something for dickarms. Link to comment Share on other sites More sharing options...
torah man Posted March 4, 2003 Report Share Posted March 4, 2003 Hey Guys,Short and sweet. Still long RYVYX. Trim Tabs went fully bullish today from cautiously bullish. My evening is made, thanks GTN. Link to comment Share on other sites More sharing options...
On The Beach Posted March 4, 2003 Report Share Posted March 4, 2003 he who trades not on a disciplined plan but based on news, events, tips, and "I think" gets slaughtered and will only last a few rounds in "the game". Its as simple as that. Trade your plan, don't think your plan or else you'll outwit yourself instead of the market. Fine. But, my 'disciplined plan' often has a shorter time horizon. Still simple... Link to comment Share on other sites More sharing options...
lucy Posted March 4, 2003 Report Share Posted March 4, 2003 Hey PD, if someone wanted to add to short, do you still figure the ones on your list to be the best? Gonna check it out-- is MXIM on it? I want to see that one die, DIE! ( I try not to get too emotional in my work) Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.