DrStool Posted April 2, 2003 Report Share Posted April 2, 2003 I am reducing my stop to 26.45. Link to comment Share on other sites More sharing options...
Drano Posted April 2, 2003 Report Share Posted April 2, 2003 Hmm, lookin' like a bearish one again, DF. That was a GREAT image on your rocket post. Thanks for that too! Link to comment Share on other sites More sharing options...
Direwolf Posted April 2, 2003 Report Share Posted April 2, 2003 SG in This is a 5 day fibo rally for a C wave top gang 26.04 is your best hope to enter a DONG or cover if you were caught short The next move is 28.21 I want what you're smokin'............................. throw that crap out the window...market is absolutely 100% news driven...spike hysteria crack market.....only way to play market is to fade extremes. buddha's forensic analysis dictates that when we hold gains over lunch we tend to melt higher in the last hour. get short with both hands in the last 5 minutes. hysteria gap down coming tomorrow on some psycho news in baghdump. sick market about to puke a big hairball......... dw Link to comment Share on other sites More sharing options...
blackbelt Posted April 2, 2003 Report Share Posted April 2, 2003 Yeah, I'd say this morning's move was impulsive all right.... BB, first, in view of your unassailable stature as a true master of this stock proctology stuff I am inclined to defer to your view on all matters TA related. But since you brought up BGEN as an example, I thought I'd offer this: I see a longterm trend line supporting the bullish move in the stock from $4 in 1991 to the high in the upper $120s in Feb 2000. Never got close to that trend line until violating it at $94 in March 2000. Save for a very brief stab from below $80 back to $90 also in March 2000, the stock never looked back, spending the rest of 2000 and all of 2001 consolidating between $50 and $70. March 2002 shows the last of the $50 prices save for a rally back to $50 in May. Since then it's been in another consolidation range between $30 and the mid $40s. I can see the case for $30 support, but with weekly momentum negative, monthly momentum having just turned negative, plus market and sector relative strength negative, I can't see much of a case for anyone wanting to own the stock. Then again, like the old man used to say, "that's what makes a horse race." Hope this isn't too long for IDS, Doc. Lethal Dose, Thanks for the input. Just to clarify again...I'm a trader. I buy and sell, if I buy a stock at 34 and I sell it at 38 within a week or two I have a profit. Very rarely I will hold long term and usually I'm long term in stocks that most people don't want to hear about. The reason I mentioned BGEN is to show to those who trade how I select stocks. I understand that there are those that do not trade. They like to "buy and hold" or "short and hold". What I don't understand is why do they look at the market on a minute to minute basis..... Anyway... Thanks again Link to comment Share on other sites More sharing options...
simple guy Posted April 2, 2003 Report Share Posted April 2, 2003 5 waves up... not one wave up.... The rally does not stop here, contrary to popular belief. I put out the wave structures this morning 26.55 wave 1, .618 26.04 wave2, .382 28.21 wave 3, 1.618 etc etc.... util wave 5 tops out on April 9th in the morning, or April 8th afternoon Link to comment Share on other sites More sharing options...
PileDriver Posted April 2, 2003 Report Share Posted April 2, 2003 low VIX, low p/c ratio, sky high optimism, down cycles, unanswered panic low after orgy high on Dec 2, 4% cash reserves, all bullets spent, still well within 8 month trading range from hell. Knowing that, want a good laugh? Take a look at the SPX monthly on deadcharts. I'm not saying we will stop rallying here, more upside wouldn't at all surprise me. Just trying to put it all in real context. Not what the media is trying to hype. Bwhahahahahaha! :grin: Link to comment Share on other sites More sharing options...
simple guy Posted April 2, 2003 Report Share Posted April 2, 2003 5 waves to a top is how this will finish up. 26.55 is .618 of the B wave down... that was wave 1 Wave2 corrects is, .236 or .382 of that move.... 26.04 or 26.24 Then wave 3 goes usually 161.8% of wave 1.... maybe 150%... Link to comment Share on other sites More sharing options...
machinehead Posted April 2, 2003 Report Share Posted April 2, 2003 "The U.S. House passed legislation on Wednesday that would raise the maximum government insurance to $130,000 from $100,000 for most bank accounts and charge banks fees to maintain the fund." Safety in numbers Hmmm ... do they know something we don't? Link to comment Share on other sites More sharing options...
thesun Posted April 2, 2003 Report Share Posted April 2, 2003 FFIV well off day high, makes an interesting chart. already short here. be very carefull shorting ffiv, a very MIXED UP chart. Wouls be better off looking for a better chart. Higher high, higher low took swing point of 8/22/02 out with higher volume. good luck Link to comment Share on other sites More sharing options...
PileDriver Posted April 2, 2003 Report Share Posted April 2, 2003 if you're dong stuff, better be stuff you're confident in and which will keep rising despite a down market. I am and loving every minute of the short term insanity buying panic of garbage. :grin: Link to comment Share on other sites More sharing options...
strikerm3 Posted April 2, 2003 Report Share Posted April 2, 2003 if your dong stuff, better be stuff you're confident in and which will keep rising despite a down market. I am and loving every minute of the short term insanity buying panic :grin: pile is QCOM a dung doodie? Link to comment Share on other sites More sharing options...
The End Posted April 2, 2003 Report Share Posted April 2, 2003 Sold a couple of april 850 calls at 40.5. Don't follow me. Link to comment Share on other sites More sharing options...
simple guy Posted April 2, 2003 Report Share Posted April 2, 2003 In summary A pullback this afternoon, or tomorrow morning... would be nothing more than a wave 2 corrective move.... setting up the 3rd wave up Its not about funnymentals, news, or whatever stats they put out each day... it has nothing to do with any of that schtuff... Its all swings in how the public wants to interpret news.... Gold was due for corrective wave Dollar was due for upside corrective wave Bonds were due for corrective downside Equities were finishing a B wave down... and C wave to come.... They all converged.... and they will continue to converge for a few more days, providing the FUEL for the rally that nobody thought of in terms of where the fuel would come from.... Asset shifting.... from gold, bonds, into Equities.... This will all crap out by mid next week.... Link to comment Share on other sites More sharing options...
cyclist Posted April 2, 2003 Report Share Posted April 2, 2003 SG good post to Dire, more polite, less caustic and we can disagree and hope we all make money. that's the focus, not WHO is wrong or right or whether the MARKET is wrong or right. Macd cross now, sar hit and long 72/3 holds, BOHICA! Link to comment Share on other sites More sharing options...
Injured Grizzly Posted April 2, 2003 Report Share Posted April 2, 2003 This market today makes me think of a couple of kids who ran out on the ice a little too far and then heard it crack. They don't know whether to try to make it across or turn around and go back. Its going to be disaster for one of us. Link to comment Share on other sites More sharing options...
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