Ned38 Posted August 5, 2004 Report Share Posted August 5, 2004 awesome Link to comment Share on other sites More sharing options...
Guest Posted August 5, 2004 Report Share Posted August 5, 2004 Hedged my puts at the end of day with 2 RUT Aug 530 calls RUWHF @ 10.50. Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted August 5, 2004 Report Share Posted August 5, 2004 I wonder how many ever-hopeful believers in that seemingly unending fourth wave were disabused of their notion today? How much more down will it take for the possibility to be finally declared dead? Link to comment Share on other sites More sharing options...
The End Posted August 5, 2004 Report Share Posted August 5, 2004 Looks like everybody's call to crash after the 11th made certain nobody was on board for today. All except Brian and crew of course. Yep. No positions traded today. Riding the Sept. spx puts and the August Sox calls. Will unload the calls on any sort of bounce. (bought em at 393). Link to comment Share on other sites More sharing options...
brian4 Posted August 5, 2004 Report Share Posted August 5, 2004 Well Crew we had a good days work-the chance of a rally now is all but dead-test of 1076-78 next Huh TE! I don't think it holds! Funny TE and I talked about this yesterday afternoon and we both had that old feeling! Link to comment Share on other sites More sharing options...
Space Modulator Posted August 5, 2004 Report Share Posted August 5, 2004 Flat close y'day ... flat open turd-day ... volatility spike coming ... great call MH Link to comment Share on other sites More sharing options...
The End Posted August 5, 2004 Report Share Posted August 5, 2004 Well Crew we had a good days work-the chance of a rally now is all but dead-test of 1076-78 next Huh TE!? I don't think it holds! Funny TE and I talked about this yesterday afternoon and we both had that old feeling! I agree that a move back to +1108 is now remote. A trade below 1076ish would be devistating tomorrow and M.H.'s call as a potential crash on the 9th would be brought to the forefront of my mind. We are Dover Sole and can't get up. The signs are there as we discussed yesterday Brian. We shall see. Link to comment Share on other sites More sharing options...
machinehead Posted August 5, 2004 Report Share Posted August 5, 2004 Don't put too much weight on that Aug. 9th thing ... this is not Babe Ruth pointing at the left field bleachers or anything ... But still, that hard-to-define "relentlessness of decline" is in the air. You might remember it from Oct. 1987. The downside momentum feels like it's gathering strength. The deteriorating technicals are backed up by the funny-mental factor of soaring oil prices. Oil Shock III is the "nightmare roll" of the dice for the economy ... the worst thing that's happened in 25 years. The effects haven't even been felt yet. The VLCCs with the $44.50 crude don't arrive till Sep. 15th. The McJobs report is impossible to predict. If weak, stocks ought to crumble straight down. If strong, maybe a "news gap" to the upside, which gets closed ... and then straight down. I somewhat prefer the latter, because I had promised to pyramid my short Naz position on today's break to new lows for the year ... but forgot about it in all the excitement. Now I would like a little pop to unload another sale into a good bid. Link to comment Share on other sites More sharing options...
Jimi Posted August 5, 2004 Report Share Posted August 5, 2004 Given things, I expect the jobs report tomorrow to nail consensus on the button. Link to comment Share on other sites More sharing options...
Guest Posted August 5, 2004 Report Share Posted August 5, 2004 Germans Say "No More" to Stocks 8/5/2004 3:52:09 PM by Vadim Pokhlebkin German investors have had it with stocks. The short-lived Internet stocks boom that began in 1996 with the Deutsche Telecom IPO ended infamously in 2002 with the bust of Neuer Markt (the German equivalent of the NASDAQ.) Since then, Germans have owned fewer and fewer stocks. The latest figures, according to the Deutsche Welle, show that now only 16.4% of Germans own equities, down from the peak of 21% in early 2001. Many German market anal cysts don't see the situation improving any time soon. "Stocks have a bad image", they say. And as one of them told the Deutsche Welle, "As long as German shares continue to move sideways, investor interest will stay limited." http://www.elliottwave.com/features/defaul...id=1159&time=pm Link to comment Share on other sites More sharing options...
The End Posted August 5, 2004 Report Share Posted August 5, 2004 I was telling Brian yesterday that for weeks it has felt like Jan or March 2000. Oct 1987 was amazing in that the market actually closed up on the year. Link to comment Share on other sites More sharing options...
machinehead Posted August 5, 2004 Report Share Posted August 5, 2004 I was telling Brian yesterday that for weeks it has felt like Jan or March 2000. Oct 1987 was amazing in that the market actually closed up on the year. Well it had a 40% gain by Aug. 25, 1987 ... so a 36% drop into Oct. 19th was "no problem." The secular trend is very different, from 2000 forward. Sloping down, and the question is whether the downslope gets steeper. With 12-month ROCs still positive, there's plenty of room for a 20% or 30% slam before we start talking about 'extremes.' Link to comment Share on other sites More sharing options...
The End Posted August 5, 2004 Report Share Posted August 5, 2004 All I want for this move is 987. Link to comment Share on other sites More sharing options...
The End Posted August 5, 2004 Report Share Posted August 5, 2004 Anystoolie have an update on the Molson/coors merger? If they merge, I will have to become a Labatt man. I will never help out the Coors brewing co. Link to comment Share on other sites More sharing options...
machinehead Posted August 5, 2004 Report Share Posted August 5, 2004 All I want for this move is 987. 777 is the figure that sticks in my mind. "LOD" - Low of Decade Link to comment Share on other sites More sharing options...
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