da naz

[jacobnbr1]

i say it bounces at 2110-2111.. i think it takes another day to get it there though. if the bulls would just do what they do and buy like mad we can get it over with.. lets face it. its going to happen!! :D

[BOOOYAHOOO!]

It can fail at anytime now that it has taken out last week's high. But it will probaly trade to at least 2015. This is a classic "bagholder" rally. The next fall will make anyone who is buying any stock trading at or near a 52 week high wonder what happened. and it'll happen quickly. I'd just watch the VIX. The signal for the turn will be the break below 13.50 on da VIX. there will be no safe havens this time down.

[jacobnbr1]

steadily falling all am. another day might do it. the bulls will be comfortable that the trend is up, and wammmo. they will be crying :cry:

[jacobnbr1]

da vix is falling hard

[BOOOYAHOOO!]

Yepper, low of 13.72, we need 13.50 minimum. Last weekend I said da Naz would fail somewhere between 2115 and 2125. Who is that masked man?! :lol: XOI now through 985. About the only thing left with some wiggle room is the precious metal index HUI. I wonder if that means there will be a flight to "perceived" safety for some reason. I have no idea what the reason would be. Maybe because all of the other sectors are about to hit da crapper at the same time? Naaaaaaaaah. :D

[jacobnbr1]

you must have some major system to be watching the whole market here.

[BOOOYAHOOO!]

Oh yeah my man. When I upgraded my computer I implanted the hard drive from my old computer into me noggin. That was the brain surgery thangy I was tawkin bout the other day. It has its downside though. Every once in awhile I get spammed by porn sites. 8O

[Pierre]

Oh my...
That's quite the conversation you two are having...
Just so much knowledge to be shared with so many new investors, my, my, my...
Still lurking...

[jacobnbr1]

hey. didnt you read the sighn man? it said "no reading this board".. whats the matter cant ya read? :lol:

[Pierre]

Actually,
just following you two...I like the wit!

[jacobnbr1]

well if you are here than you found us and the rest is in the future. becarful around booyahoo he is aka" the grimreeper" you draw your own conclusions on that one... the only thing i can gather is hes good at making stocks kill people or likes hanging around the lower graves of stock prices aka a bottom fisher. :D

[xboilermaker]

Had a little luck with bottom dwellers today myself, though feel like I'm blind without TheChartGuru. Picked up a couple hundred DRL dirt cheap, and just getting started on my second $100. Messed up on my thousand SLS though, since no help here on the board from you ta's. Sorry to break in on you guys's ongoing conversation.

[BOOOYAHOOO!]

DRL looks like a good bottom feeder stock, when it hits bottom of course. And it's pretty close too! Wouldn't you be better off just playing a .10 stock for a run to say .12? You might be able to get that done in 10 seconds or less instead of waiting all day to get 10% on DRL. Unless you got in at 8.05 and out at 9.01 of course. If you did that you don't need TCG! Just a thought. :D

[xboilermaker]

I'm already in over my head with more common stocks. I made my first trade when I was 61, and therefore, too late for me to attempt to learn technical analysis, seeing how complicated it seems from reading here. So I'll just muddle along, looking for something I percieve as easier.

[BOOOYAHOOO!]

Easier? I think collectibles will be coming back in a big way. Why not try that? I seriously doubt you will do well in the markets over time if you choose stocks like DRL to make money on days like DRL had today. One of these times you are going to be wrong about your guess and the price will keep falling. It only takes 2 bad picks to put you into a world of hurt that will be difficult to recover from. Just be glad you didn't choose PRGX or AOI 2 days ago. Eventually you will, trust me on that. Not trying to be harsh with you. The markets are going to go into a downtrend soon that will make you wonder where the relief is. At least wait until the Naz begins another uptrend before you play the game you are trying to play. Good luck to ya!

[BOOOYAHOOO!]

Saweeet! Da Naz falling below the 2090 trend top but da VIX isn't moving too far away from 13.50. There will be one more Naz rally but hopefully it is now trapped below 2090, 2100 tops. What's say we crash n burn em good?!! Sorry about the negativity if there is anyone out there who likes to buy tops. But I did say I would be there for ya to pick up the pieces! :D

[jacobnbr1]

one more rally x. might be your chance to get out of cbi and get some of you $$$ back and exit.

[jacobnbr1]

Saweeet! Da Naz falling below the 2090 trend top but da VIX isn't moving too far away from 13.50. There will be one more Naz rally but hopefully it is now trapped below 2090, 2100 tops. What's say we crash n burn em good?!! Sorry about the negativity if there is anyone out there who likes to buy tops. But I did say I would be there for ya to pick up the pieces! :D

da vix is falling slowly as the market trades sideways.

[BOOOYAHOOO!]

Looks like that Naz rally I was tawkin bout might come this afternoon. Watch people chase stuff that is down 15% and rally it 10%, only to do an ut oh! :D

[englishman26]

The market has been a lot more volatile in the last couple of weeks, compared to most the year. - VIX bares that out.

I read an article in IBD a few weeks ago about how periods of low volatility (for which most of the year was) are followed by large downturns in the markets. They were doing this by counting the number of +/- 1% days this year - which is apparantly very low.

But then we get a pretty volatile october - lots of +/- 1% days. Apparantly this signals the opposite - a large upturn in the market is due. (Well - maybe the volatility needs to continue for a few months without the downturn for that to happen.)

[BOOOYAHOOO!]

Hmmmm. The Naz keeps dumpin and da VIX never confirmed that 13.50 low with a lower low. Maybe this is going to be the Oct selloff that leads to the Santa Claus rally. Too early to tell. The Naz only needs to take out 2042 as of right now. Maybe da VIX will finally go up to confirm the 18.50 top it never took care of from months back right here and right now. If the VIX does not move to 13.50 first it is bullish for the Naz, eventually anyway. We'll just have to figure out where the low for the Naz is. That'll be your job Jacob, OK? :D

[jacobnbr1]

me thinks low will be 1900sh with a 1st releif rally at 1950sh. just my oppinion

[spyder]

me thinks low will be 1900sh with a 1st releif rally at 1950sh. just my oppinion

there's some support at the 200day,which most analysts use, at 2073 but I use the 220 comes in at 278.66. Fibos from the last rally center around the 50% which equity people are in love with at 2062 while the commodity analysts will use .618 which looks to be at 2025. I favor the next fibo level down at 1980.
We've had 5 clear waves down in this move and could have a weak rally off the 2062 level.
Just some things to think about

[BOOOYAHOOO!]

I think 2042 will go away. If that happens then you are correct about the 2025 area spyder. If 1985 breaks then all hell breaks loose! That's what I am hoping for. If that happens then I think you will see a rotation into some new sectors and the stocks in those sectors will generate gains similar to what we have seen the past 3 years in the energies, internuts, retails, homebuilders, and other crap that is still grossly overpriced. A nice little salamie in here of a few hunnert Naz points and I'll even start buying some semis! You know they are always gonna be there. Basically what I am trying to say is....DIE GOOG! DIIIIIIIIIIIIIIIIIIIIIIIIIIE!!!!! :lol: :lol:

[optimus25]

I think 2042 will go away. If that happens then you are correct about the 2025 area spyder. If 1985 breaks then all hell breaks loose! That's what I am hoping for. If that happens then I think you will see a rotation into some new sectors and the stocks in those sectors will generate gains similar to what we have seen the past 3 years in the energies, internuts, retails, homebuilders, and other crap that is still grossly overpriced. A nice little salamie in here of a few hunnert Naz points and I'll even start buying some semis! You know they are always gonna be there. Basically what I am trying to say is....DIE GOOG! DIIIIIIIIIIIIIIIIIIIIIIIIIIE!!!!! :lol: :lol:

What sectors do you think money will be rotating to? Medical, Biotech, Financials?

[BOOOYAHOOO!]

Yep! Healthcare, medical equipt., select tech, U.S. automakers will rule once again, and me favorite right now, homeland security!

[optimus25]

I'm banking on Healthcare (UNH), Medical Equipment (STJ & MDT), and Financials (BAC).

[BOOOYAHOOO!]

I think we are going back to the 1960's and 1970's. Kids will play with Barbie dolls and baseballs. People will think before the vote instead of re-electing the guy who made their home value increase 100% in 3 years. They'll have to think next time because their house value will fall by 30% before the next presidential election. I say we slow it down a tad. We will, you'll see. It'll be a much kinder and gentler America. Except for maybe New York city and parts of California. But I guess a$$holes should still have a place to hang out. :lol:

[BOOOYAHOOO!]

Try PFE at 14.50ish if you like the big caps. UNH won't have a chance while Cramer is around.

[jacobnbr1]

not one sector index i have on my platform is green and i have 18 on it. holy moly!

[jacobnbr1]

what a day end... i am a little confused as to what went on today :?

[Damon]

tell me about it. what a bloodbath. all 10 of my stocks finished in the red today and my watch list is 90% red. 8O

[spyder]

I'm into my second cocktail so I'm a little wordy.....October through May of the following year has been the best time to invest with a 30+% compounded annual rate of return....computers can tell u this. the other period ..may/Sept the return is zero%..nada. this over a 50 year period. Occasionally, things get screwewed up when everone jumps in in anticipation, witness Greenwich capital with all their PHDs, and Noble prize Economists a decade ago. This process started earlier and earlier a couple of years ago....this time the early boys have to throw up on their shoes before we hit bottom.
By the by...there are two dates in October that stand out...10/19/87 and 10/29/29...I don't know what day 10/29/29 falls on today but if it's a new moon .......
Just some things to think about.

[englishman26]

These are supposed big buy in days??

Oct 29th is a saturday.

[Damon]

These are supposed big buy in days??

Oct 29th is a saturday.

liquor. lots of it. i'm a tequila man, myself.

[englishman26]

Ah - so these two dates are just Spyder's big drinking dates! Have a great weekend dude!

[spyder]

I guesss I wasn't too clear.....What day was October 29.. IN 1929? Usually found under "black..."

[englishman26]

Well I don't think october will have any historically black days, but it's certainly been a very red month!!

Damn - I wish I'd just sold everything at the end of september and forgot about the markets for a month. It's been such a painful fight.

Will november be better?!?!?

[spyder]

True...but, black as in.. "NOT GOOD", LIKE funerals, lblackmonday, black tuesday etc. etc. Not what ever screen you are watching.
As opposed to the current convention of red and green.
Old timers.. black is bad

[spyder]

Just looked at how many posts I had....time to shut up and get back into the bushes and watch for a while.

[jacobnbr1]

i told that jockey on gte to build a handle before we go up??? i guess i will loose the weekly pick challenge on this pig eh?

[BOOOYAHOOO!]

If you can get er to hang near 2.15 without taking out 2.16 until late in the day you have a winner. Otherwise, DIVE DIVE DIVE! :lol:

[BOOOYAHOOO!]

We could still have our black Fri by the way things are setting up. Da VIX be falling with Da Naz which is now trading down 7 points off the high. I think that 2079 high will go and da VIX will fall to sub 13.50 as the Naz trades to next resistance at 2082. If that happens look out below this afternoon. Wishful thinking is good all you fokes who paid too much for any of Cramer's stocks, but I doubt it'll do you much good.

[jacobnbr1]

cramer really sucking a$$ last night asking people to beleive in him. did you watch? also what about that trade call? ( where in the hell did this come from)? and also trump on the show wend. night? wtf, i lost respect that guy for hanging out with cramer. but it is all about ratings right :wink:

[BOOOYAHOOO!]

I heard that Cramer's ratings are dropping like a stone off a....like GTE will fall once it takes out 2.16. :lol: Am I good or what?!! I predicted Cramer would close himself down in the end. If everything sets up like I think it will it will probably be sooner than later. If the market crashes and burns in here before it takes out the 2079 morning high then Cramer has a shot that the markets will bail his sorry butt out. I actually like Cramer for entertainment value. On Tue when the guy called in and went into a story about all the PEC trucks he saw driving down I-95 to help with the hurricane efforts and Cramer laid on the flooor and acted like he was falling asleep, now that's entertainment! :lol: He's an idiot as far as the markets go however. He has no clue and then he has to gamble to get himself out of trouble. Some fokes is lucky I guess.

[jacobnbr1]

i can barley stand watching anymore since you have opened my eyes a little. he is entertaining but is always trying to lead you to bad crap. stocks in the 52 week highs etc,etc. he made a recomendation on toyota and honda last night, i know you are a huge fan of toyota :lol: 8O :P but me thinks that is the wrong call...

[BOOOYAHOOO!]

Toyota! Get that crap outta here! When people get in line and wait to buy a butt fugly piece of overpriced crap like the Prius you know it is the top in gas prices and for the jap automakers. What's the trading symbol for Toyota anyway? I know it's skying and I know Cramer likes it so it has to be a great short.

[jacobnbr1]

oh yea... he claims gas is to high and people will be stampeeding to the prius for releif. "why focus on american three ,when they are fighting over who can make the biggest gas guzzler" all true. but crazy thesis..

[BOOOYAHOOO!]

Gas is too high because XOM and VLO are greedy bastages. The gas tax here in Fla totals .60. Spot is now at 1.58. The guy that sells you gas at the pump gets about .03/gal. So based on the price in my area that leaves about .45 for the middlemen and VLO. That's per gallon! Don't worry though. greed eventually gets punished severly by the powers that are greater than the markets. Anybody who thinks they are gonna get rich going long XOM and VLO are kidding themselves, even though there will be one last run to a double top in each.

[jacobnbr1]

daz naz heading 8O 8O the vix heading 8O 8O

[BOOOYAHOOO!]

Yepper. And da Naz already at 2082, while da VIX just below 15.00. Looks like they be gonna try and drag all the suckers in with a run to 2090 minimum. Let the frenzy begin! :lol:

[jacobnbr1]

you mean to tell me there is than many fools out there that chase stocks like that? 8O

[BOOOYAHOOO!]

Check out the idiots chasing NVAX off the 3.37 low. people still want to believe there is a way to play that bird flu BS. Now at 3.75 as the guy who bought the news on that bond conversion crap, paid 5.30 on the open, and finally threw in the towel yesterday after he lost 20%. He just got back in at 3.50 and thinks he's gonna at least get even on the trade. Watch what happens next. People like that are the true idiots in the markets. :roll:

[jacobnbr1]

how you know he threw in the towel??

[englishman26]

TM (toyota for non-home gamers) has done really well for me but I sold it a while back. I think Cramer may have upped this one before but I agree this is the wrong time. Rising interest rates and the slowing of capital release from housing will send the whole car market into tail spin.

See Booyahoo - I think some things will go down too! :wink:

[jacobnbr1]

they can go ahead and crash it now. they have a good reason to do it being it is the last friday of october. perfect alibi and no explanations needed 8)

[BOOOYAHOOO!]

I don't! Maybe he's a glutton for punishment like the guy who is waiting for PRGX to finally turn. Watch me nail the bottom on that dawg! :wink:

[jacobnbr1]

i wonder why chk has been dry today? 8mil shares traded and flat on price? :?

[BOOOYAHOOO!]

Well I guess you are short and want to see it tumble but I'd personally rather see it go up and take out the 33.93 area first. That way it won't have to come back up again. You should actually want it to do that too because you will be guessing on where to cover if it falls first, and you will probably make a mistake and make nuthin. If it tops out you can just hold for a 50% move down. Like my logic? Reaper logic! :D

[englishman26]

I'm guessing people are just waiting for the earnings call next week - expecting it to take out that high at that point. Then you might start to see your fall. All the way to $4 maybe! :?

[jacobnbr1]

Well I guess you are short and want to see it tumble but I'd personally rather see it go up and take out the 33.93 area first. That way it won't have to come back up again. You should actually want it to do that too because you will be guessing on where to cover if it falls first, and you will probably make a mistake and make nuthin. If it tops out you can just hold for a 50% move down. Like my logic? Reaper logic! :D

da vix getting unstable me thinks chk may not be a follower to a certain point.

[BOOOYAHOOO!]

Looking more and more like the precious metal stocks will tank as everything else rallies. Buy sumthin shiny on the salamie and short everything else at Naz 2090+. :lol:

[jacobnbr1]

as in kry

[BOOOYAHOOO!]

Yepper. that's what I'm goin with. But it looks like HL could put in a buy signal any second now as it trades to 3.11. I like KRY because I think it will at least double from the .90 area. The HUI index should rally through 240 on the next ramp. GBN is also a goodun but it doesn't trade as much volume so not as much investor interest. It needs to go to .64 but I doubt it makes it there before it rallies prematurely. Right now at .92-.93 which is the last major support area on da chawts.

[jacobnbr1]

if this is going to happen we are getting close 8O

[BOOOYAHOOO!]

If?! Oh ye of little faith! I jist checked me pawts and they's all be woikin properly. Why should you doubt me?! :lol: VIX low of 14.40, da Naz a marchin headlong to its death. I hope they get er done today. I'd like a little entertainment going into the weekend and watchin em scramle into the close would sure fit the bill! :lol:

[englishman26]

Not going to happen.

[jacobnbr1]

me not doubting the. i stand firmly behind the. i put my email at the bottom of my signature. just incase you might feel freindly and care to explain something... :D

[BOOOYAHOOO!]

Jacob, I ain't here to make friends, I'm here to save you muuuuuneeee! :lol:

[jacobnbr1]

that was really close there. 8O

[jacobnbr1]

da vix not really moving today...

[BOOOYAHOOO!]

We don't want the VIX to move down sharply to 13.50 at this point. If that happens a new trend low will come in. The Naz put in a trend high at the 2119ish high and is about as overbought as it's gonna get. So expect a pullback here in the Naz leading to one more rally to take out the high. Hopefully the VIX will hold steady and signal buy later today. A selloff from that buy signal to below 13.50 means it's all over for the bulls. A lot more strength in the Naz than I expected. Look at it as a chance to short some crap higher than expected. Nothing more than a sucker rally here. Almost a blowoff top really since fokes are really chasing good news in grossly overpriced pigs. Looks like the top end of my 2115-2125 range on the Naz from 2 weeks ago will be hit. We shall see.

[BOOOYAHOOO!]

Naz should sell off to 2106 or possibly even 2090. It could work its way up slowly to confirm the high from the current 2115 area though. Looks like a possible nudder whipsaw day for the half-a$$ed frenzy traders. I luv it! :lol:

[jacobnbr1]

looks like me dawg artg isnt going to give me a fill today for da challenge. am i rule compliant to change entry point if it starts a running???

[BOOOYAHOOO!]

Nope, 8 AM EST on Mon is the cutoff. You'll get your strike price, don't worry! :D

[jacobnbr1]

hows come the vix works differant at differant times. example the more the maket goes up the less the vix, and today is opposite...

[BOOOYAHOOO!]

It usually goes in opposite directions, but not always. Today I bet there are lots of puts being bought, thus the upside in da VIX. Those put buyers are gonna get driven out before this thing tanks I'm sure. It should remain pretty boring for the rest of the day so if you have plans to do something important you may as well take the rest of the day off. The action won't get started until after the Fed meeting tomorrow I'm sure. AAPL is going to take out today's high, so is GOOG, so is SNDK, so is WFMI, everything making new trend highs at slightly higher levels. I don't think the volume is all that great today. They are just suckin em in.

[englishman26]

A lot more strength in the Naz than I expected.

Indeed! And i don't think this is a sucker's rally - although there will be the inevitable profit taking at stages.

I think your negativity on the market is getting skewed by your wishful thinking based on your cash-rich portfolio. There will be plenty of good buy opportunities but I can see a bit of a broad based rally until christmas. The naz is not overbought! Great superconductor news this morning - and that was after the main portion of today's gains.

Volatility to continue though so the VIX will be happy!

[BOOOYAHOOO!]

Oh it'll boin englishman. The SMH which is a semi index will need to provide some leadership. Instead they sold the semis into strength as evidenced by the fall in OBV on the .40 rise earlier today. Signaling sell right now. I'm sure they will rally it from the current 33.80 area because for every astute investor that sells into strength there is somebody else who doesn't want to miss the next rally. :D All the warning signs are there. It will have to become painfully obvious for most people to see it though. And trust me, it will! :wink: The SOX, another semi index, is now making a daily high as the RSI is making a lower high. Will it even make it to 440? The semis are going to need to join the party here purty soon or else.

[BOOOYAHOOO!]

BTW englishman, there may not be any safe havens in the next selloff. But the energy plays and the golds will turn first. That should be good news to your ears. Even though it appears that there may be some short term pain ahead. :cry:

[englishman26]

I think there's a lot of nervousness around about the fed call tomorrow. Tech relies massively on investment. A hike may burst a few bubbles!

[BOOOYAHOOO!]

The Fed will keep hiking until the 10 year finally starts acknowledging that they are serious. That means the 10 year note trades through 5% minimum. Nothing has really changed as far as the markets go. The fundies keep gambling that eventually the Fed is going to stop. All that has done is kept things in grossly overvalued range so basically they are defeating their own purpose. If the naz dropped about 300+ points I think we will be able to say that they finally get it. They will eventually, the markets always take care of the excesses and it is unavoidable at this point.

[jacobnbr1]

anybody hear any news on the fed call yet??

[BOOOYAHOOO!]

Yeah, the announcement of the .25 hike comes at 2:15. The market knows it and it is already priced in. It isn't going to be rate hikes that make the selling come. It'll be a simple case of no more buyers and the fundies who will not be able to get a bid will be forced to sell to the lowest bidder. Just like Gordon Gecko couldn't get a bid on Bluestar Airlines in the movie Wall St. Did you ever see that movie? Charlie Sheen should have gotten an academy award for that one. One of my all time favorite movies. :D Speaking of airlines. AMR is gonna be one heck of a short if it can take out the 52 week high of 14.95. I think it'll be fun to watch what happens to the automakers today when they announce sales that are probably gonna be down 30% across the board. F might end up being a buy sooner than I thunk!

[jacobnbr1]

i never seen dat movie... i will have to rent it. i tried looking you up on clearstation on the siri board and all is deleted.. i wonder why?

[BOOOYAHOOO!]

I haven't posted there for almost a year. Just click on any post and then type my screen name into the Messages By Member window at the lower left hand side of the screen.

[jacobnbr1]

i am kinda intimidated by the naz just hanging here..

[BOOOYAHOOO!]

Why, it's probably trapped by 2120 even if it rallies. It is signaling sell already so the move after the Fed announcement will seal its fate. Up and they crash and burn em as soon as 2120 gets hit. Down and they crash and burn em until 2042 goes away. You can't lose unless you are long! :wink:

[englishman26]

You guys keep changing your minds and pushing this mythical fall further and further out into the future. It's funny to watch. Can I get a short on your portfolio?? :wink:

[BOOOYAHOOO!]

Actually, I've been pretty consistant in my calls on da Naz. I was proven wrong about how high some of the individual stocks would go for sure. Like GOOG for instance. It still needs to trade through 382.50 one more time. But the end game will be the same. I'll hold to my outlook on that. The big money in AAPL, SNDK, WFMI, YHOO, GOOG, etc. etc. etc. will be made to the downside.

[englishman26]

Yes. The naz crashed today - just like you said. Followed Dell all the way down. Oh wait . . . :?

[BOOOYAHOOO!]

I said da Naz was gonna crash today? I don't rmember that one, but you can point out the post where I said it was going to. Lemme clarify things fo ya one mo time since you appear to be one of my slower students. :D Da Naz won't crash unless da VIX first takes out 13.50. As of right now the chances are just as good that the Naz will continue to rally as they are that it will head lower. But the big tumble won't come unless 13.50 VIX is taken out. Jot that down so ya doesn't forget it. :wink: I did say that the gains to the upside in the stocks I listed are much less than what you will make if you short them. And I also said that the energy stocks and the gold stocks will be the next area to look for upside trades. But trades only because both sectors are nearly as overvalued as the tech sector. So maybe you should start praying that the Naz does crash because it will probably be because of rising energy prices. And right now it appears you need that if you are gonna get your butt saved from CHK crashing! :lol: Relax and go with the flow my man. Why are you in such a hurry to see the Naz crash anyway? Do you actually enjoy gettin yer butt whooped?! Prodigy, take care of my light work for me! :D

[Code Butcher]

DELL is at a 18 month low. Can it go any lower? I'm gonna set a GTC limit buy at $25, with hopes it might get to $40 by the time Vista comes out.

I also have a GTC limit buy on MXO at $3.00, if it makes $4, i'm out.

Everyone was be sleeping off a suger high from all the Halloween candy.

CB

[BOOOYAHOOO!]

Can DELL go lower? Hmmmm. Does a fat lady sweat?! suuuuure! How much lower can DELL go? Howza bout 20-21 for starters? I'm startin to take a shine to that MXO thingy though. Right now me entry target be at 2.30 but I'm hopin I gets ta lower it agin. 8O

[englishman26]

:lol: You've got to love the negativity!

I've been thinking Apple was going to go down for a year. Still hasn't. I think there's still some breath left in this beast. You've got jacob in a put option for january but I don't think it'll be done before march.

[jacobnbr1]

i think it weakens up sooner or later. i will have my eye on the value of these puts and make sure i take somthing back with me. i may at some time exchange options for further out?? who knows the fate of the market, and appl does appear to be strong. i would say the next wave down will be revealing as to this being the tip top for appl. thanks for looking out :D

[englishman26]

As Booyahoo would say, I'm just trying to save you money! :wink:

[BOOOYAHOOO!]

There will be at least a decent fall in AAPL before Jan. The bets are small cause the payoff will be HUGE! If all else fails the options can simply be rolled over to a forward month. Worry free investing. Learn it! Live by it! :wink:

[jacobnbr1]

da vix may bottom today??? getting close.

[BOOOYAHOOO!]

Yepper! 13.50 be da numba! :wink:

[BOOOYAHOOO!]

Looks like da Naz be putting in a new trend high here with this move to 2136ish. I say looks like because it is really too close to call. If it does I would expect a pullback in here shortly and then a move tomorrow to take out this high. Which sets us up for yet another Fri-Mon scenario. If da Naz moves through to 2140 without a retracement it will most definitely be a trend top. Let's see.

[jacobnbr1]

8O 8O 8O finally going to bottom...

[Pierre]

2141 Boo...
Goin higher or toppin out?

[BOOOYAHOOO!]

Da VIX just about to signal buy, da Naz taking out 2040 yet the ADX ltrend line is actually falling, plus the RSI is making a lower high, Definitely signs of a top here but I want to wait and see how da chawt sets up when it shows the 2043ish high. It could get ugly veeeeery soon.

[BOOOYAHOOO!]

Nope! The 2143ish Naz high will have to go but hang in there sports fans! :lol:

[jacobnbr1]

13.51 and dropping and 2143 topped

[englishman26]

Wow - it get's interesting here! Rally or crash!??!!????? The next 2 months hinge on where it goes here.

[BOOOYAHOOO!]

Jacob, at the other site you axed me what a blowoff top looks like. Just look around the markets and you will see plenty. HANS, SNDK, WFMI, just to name a few. Naz now trading back to 2140 off the 2144ish high even as da Vix heads lower (now 13.68 off the 13.51 low). I meant a sell signal on da VIX not buy signal in my previous post. It is actually still in the buy mode even though it has fallen all the way from 15.30. I hope you are getting a good lesson in how things work because the same basic principles apply to individual stock charts that apply to index charts. That's assuming you are even following along on da chawts of course. :lol:

[jacobnbr1]

of course isa following along wit da chawts. the only thing that has me flustered is the buy and sell signals.. i keep looking for them and dont see anything. like the vix i dont see nothing that would resemble a buy sell signal. are these done with the dma crossings???? :D

[BOOOYAHOOO!]

Yazzum! Da buy/sell signals come via the DMI indicator. See if you can figure it out on your own. If ya can't i am always willing to help, for a phenominal service charge of course. :D Looks like I might not be getting entry in the race with KRY huh? 8O

[BOOOYAHOOO!]

Naz just needs to take out today's high and it will probably do it into the close. VIX 13.50 low was already breached. Still some crap that needs to move a tad higher like THE, BOOM, NTRI. The ones that are trading at 52 week highs and are up the most today on a % basis will also fall the hardest.

[jacobnbr1]

well it looks like all the moons are lined up :lol: ok now what goes on when this happens? this is like the warning bell on wall street? vix bottomed out and naz at the peak...we tail spin crash and burn right?

[BOOOYAHOOO!]

Well Jacob, all we know for sure is that our target on da VIX was fianlly breached. We still don't know by how much it will be breached. And we know that da Naz needs to trade through 2144.56, but we don't know by how much. We can get some clues by looking at the individual stock charts. And then we have to make a decision about how to play it based on the odds according to the next support/resistance areas. For da Vix the next support area is at 12.15. Will it make it though there? If it does it will surely mean that the VIX is in a new downtrend and the Naz is on its way to a new 52 week high. But I doubt it! :lol:

[jacobnbr1]

Well Jacob, all we know for sure is that our target on da VIX was fianlly breached. We still don't know by how much it will be breached. And we know that da Naz needs to trade through 2144.56, but we don't know by how much. We can get some clues by looking at the individual stock charts. And then we have to make a decision about how to play it based on the odds according to the next support/resistance areas. For da Vix the next support area is at 12.15. Will it make it though there? If it does it will surely mean that the VIX is in a new downtrend and the Naz is on its way to a new 52 week high. But I doubt it! :lol:

well mr gekko: :wink: i thought it was rule of thumb to go short when da vix makes lower lows? further. if da naz is- could be going higher or is in a trend reversal, i should say. is the answer right? for we are using da vix as an indication of trend direction.... so we need to wait and see what gives.

[BOOOYAHOOO!]

Well I am neither a bull nor a bear, I'm a chameleon so I guess Mr. Gecko is appropriate. :D The basic lowdown on da hoedown is that my theory says that all trend highs will be breached with higher highs and all trend lows will be breached with lower lows to finish off the trends. That process of topping/bottoming can occur quickly as in 1 day, or it can take 3 years to complete. The last time da VIX was down near 10.00 it leaft signals stating that eventually that low will go and da VIX will move below 8.00 at sometime in the future. However, from that nonconfirmed low it went to a high of 18.50 and left a signal that 18.50 will be taken out. So basically it is stuck in the middle right now. Since then there were 2 new consecutive lower trend lows (support/resistance areas) establihed at 15.00 and 13.50 off the high. Basically at this point a move of da VIX through next support at 12.10 probably means that a new downtrend is in place. The carryover to da Naz since it moves opposite of da VIX is that if da VIX tanks da Naz rallies. The conundrum is the fact that at the 2200+ Naz high this past year there was no signal that said that high would need to be eclipsed. In fact, the only remaining price or trend high that needs to be eclipsed is yesterday's high. So right now we are at a very important juncture. The bears have to at least acknowledge that the Naz can move on to retest the high. On the other hand, da bulls have to acknowledge that there is no reason why da Naz has to move on to a highr high so perhaps their efforts will prove futile. We will know much more after the opening rally today. There is plenty of good news out off which the markets should rally. The strength of the opening rally will more than likely tell us a bit more about whether or not the Naz will continue this strength at the same rate we have seen the past 2 weeks. The odds definitely do not favor that it will hapen based on the way the charts of many individual stocks are set up. So the answer to your question is that the VIX and the Naz generate valid signals which work in opposition to each other but are directly related to each other. In other words, you can tell alot about how far the Naz will rally based on what da VIX is doing, and vice versa. Confused? good! :D

[BOOOYAHOOO!]

The opening Naz high of 2163.23 was a new price high that will probably be breached today. It is not a new trend high however. Nonetheless I will assume that it will be taken out. As of right now the VIX move to 12.60 does not show up on my delayed chart but I assume it will be a price low and not a trend low also. That means it will more than likely be covered today. Bottom line is that the markets will probably become more choppy if this is setting up as a top. I'm still in da bear camp but da bulls are putting up one hell of an assault! 8O I think this is either a setup day for tomorrow or the bull run ends late today. I will be very busy today so I won't have much time to post. I'll be watching SGU, PRGX, TAGS, IMNR as a new buy. I would begin taking profits in DHB if i was long and sold some today at 2.75, on paper :D But it can still move to 5.00. They report earnings today and not next week as I at first thought. That alone would make me take some off since I have a 30%+ gain from my last 2 buy points. Hold 40% of the position long and do not buy any bad news selloff unless it makes it to the low. Sell down to 20% long at 5.00, if it gets there. Stay safe people cause it could get tricky!

[spyder]

On the intraday we came down in 5 waves, and it looks like we have done a measured A,B,C correction where the length of the C wave equals the length of the A wave.......intraday hi on Oct 3 @2162.79 and on Oct 4 at 2167 provides a level of resistance. At the very least it should consolidate against these levels.

[jacobnbr1]

The opening Naz high of 2163.23 was a new price high that will probably be breached today. It is not a new trend high however. Nonetheless I will assume that it will be taken out. As of right now the VIX move to 12.60 does not show up on my delayed chart but I assume it will be a price low and not a trend low also. That means it will more than likely be covered today. Bottom line is that the markets will probably become more choppy if this is setting up as a top. I'm still in da bear camp but da bulls are putting up one hell of an assault! 8O I think this is either a setup day for tomorrow or the bull run ends late today. I will be very busy today so I won't have much time to post. I'll be watching SGU, PRGX, TAGS, IMNR as a new buy. I would begin taking profits in DHB if i was long and sold some today at 2.75, on paper :D But it can still move to 5.00. They report earnings today and not next week as I at first thought. That alone would make me take some off since I have a 30%+ gain from my last 2 buy points. Hold 40% of the position long and do not buy any bad news selloff unless it makes it to the low. Sell down to 20% long at 5.00, if it gets there. Stay safe people cause it could get tricky!

no pun intended but, each time we get a new high it has to be breached :? if we have to keep breaching highs than wouldnt the trend be up? i mean where in the world is the cap to these breaches?

[englishman26]

Yes - we could see breaching of highs here for quie some time!

Let the bulls roar!

(wait - only bears roar, what do bulls do?? Charge? Breathe heavily?)

[BOOOYAHOOO!]

That's the hard part Jacob, figuring out exactly where. I always said that the last part of a meltup is just as bad as the last part of a meltdown. It is tough watching the action happen right before your very eyes if you happen to be short the stock runnin or long the stock divin! :lol: The good news is that the highs that need to keep getting taken out are contracting. Da Naz moved to 2165ish and put in a new high. The last one was just below at 2163. Now we are through 2165 and we'll have to see if yet another new high that needs to go will be setup. Da Vix will have to trade below 12.50 now as a new trend low was also put in. This is the third consecutive lower low. Let's hope this move in da Naz stops right in here below 2175 at the most. If that happens I believe we can setup for a transition into a downtrend. It's a case of the higher it goes the higher it's gonna go in all likelihood. But we do have the fact that da Naz be extremely overbought on our side if you are in the bear camp and think AAPL, GOOG, SNDK, WFMI, NVDA, etc. should fall. Let's see.

[Pierre]

You just may be right Englishman...
Market sentiment seems to be in your favor...
The bad news seems to be less and at least we seem to be stabilizing...
One good word from Greenspan ( other than his retirement ) and we are off to the races...
Energy seem's to be making a move...
Seems to me, we could go either way...

[BOOOYAHOOO!]

Good news for da bears Jacob. It appears that I may have spoken too soon about da VIX in my previous post. I must have caught da chawt just as da VIX was making the 12.50 low. Once it settled out the actual signal is that a lower low than 12.50 is in fact NOT necessary. And da Naz need not trade higher than the 2169ish high! So it does appear that the moon and stars are now in alighnment. Let's see what kind of chit transpires! :D

[spyder]

NASDAQ/composit is moving slowly down....theory says we should not close over the top of wave 4 (2167) if it does the move up continues. With the gap up this AM a disappointing employment # tmrw at 8:30 EST, a gap down would leave an island top. Improbable......but not entirely impossible.
Just something to consider.

[englishman26]

Should close at the support level around 2162 - 2164, I would think.

[spyder]

Should close at the support level around 2162 - 2164, I would think.

U could be right about 2162....my stuff looks like 2158.5/2159.50

[jacobnbr1]

Good news for da bears Jacob. It appears that I may have spoken too soon about da VIX in my previous post. I must have caught da chawt just as da VIX was making the 12.50 low. Once it settled out the actual signal is that a lower low than 12.50 is in fact NOT necessary. And da Naz need not trade higher than the 2169ish high! So it does appear that the moon and stars are now in alighnment. Let's see what kind of chit transpires! :D

let there be a total destruction. i have plenty of worthless puts :lol: .

[BOOOYAHOOO!]

Ahhhh, Jacob wants to crush em like a grape with "total" destruction. I'd be happy with rampant destruction meself. I'm not sure if I want to see total destruction though.....wellllllll, maybe :D BTW, my total destruction play would be SWKS, based on how it is set up right now if everything were to for whatever reason sell off BIG into today's close I'd buy SWKS at 3.50, if it got there. Then I would take me 20% on the first rally and look to reenter on the return to 3.50, if it even had to go back. :D

[spyder]

25%into the opening gap 2154.03, 50% 2150.80

[englishman26]

2160! We should have taken an average Spyder!

[spyder]

Hahahaha!....maybe u and I should talk more often, we might be able to get it right the next time!

[jacobnbr1]

da naz keeps poking its head out to see if it safe :lol:

[jacobnbr1]

this isnt showing any waekness at all. in fact it has been in + mode most of da day. go down buddie....

[englishman26]

Nope! Nice little pop to end a great week!

[jacobnbr1]

you bulls get the week up and us bears will take a couple days down at some point to ruin all the increases. sorry for my oppinion 8)

[setterp]

Bulls on parade, nice little naz rally this week! :lol: :lol:

[BOOOYAHOOO!]

One might look at my perdickshun from last week and say, "boy, were you off!" :lol: In actuality I was only 1/2 off. And maybe a little left of center. :D I did say that da VIX needed to get below 13.50, so I won that one. I knew da Naz would rally. It did. I was waaaaay off about the strength o da rally though. Off enough that if I was a short term options player using in the money puts as my weapon I would have been wiped out if I bet like an idiot. Luckily fo me, homey don't play dat! :lol: As of right now da VIX can easily make a stand to rally. Of course that means da Naz would fall if da VIX were to rally. Yet it could still go either way. I think da Naz tries to break above 2175 but fails sometime early this week. If I am wrong again I would simply reshort at the top of the range for the coming rally, which would obviously be the Naz 52 week high. It doesn't mean your Jan puts will be deemed worthless either BTW. This is a looong race and da bulls be actin like jack rabbits right now. :D

[englishman26]

Just like I was saying - you'd like to able to claim credit for saying that things will go up then go down! I'm sure if this rally lasted 2 years you'd be here saying "I told you so" in 2 years time. Of course I'm sure it won't. But is their any chance of you discovering a little modesty/humility between now and when it comes down??

[BOOOYAHOOO!]

Modest humility? Me?!! Are you kidding me? I've been tusslin wit GOOG since $240! I'd still short da pig right now! I'll fight GOOG right up until my grave. And right now if I was short GOOG I'm sure I'd be halfway into da grave. :lol: In the end I'll win, GOOG should just give it up! You don't think GOOG is bigger than me....do ya?!! How's that for humility? :D

[Thierry Martin]

I've been tusslin wit GOOG since $240! I'd still short da pig right now! I'll fight GOOG right up until my grave. :D

Just curious - why would you short Google at this point in time, or any point since $240? What is your method? I don't understand exactly what you are using as a basis for these wild statements. Is it a macho gut thing? Do you always short the fastest growing, highest earnings companies as a matter of principle? Is Google the biggest scam in history, another Enron, and you are the only one with this information?

I don't know, maybe it's just me, but I would wait until the market share starts shrinking, the stock starts dropping, earnings start going down, and forecasts get gloomy before shorting a stock like Google.

[BOOOYAHOOO!]

Thierry, nice to hear from you with a market question instead of looking for a reason why you should can myass from this site? :D To answer your questions. My theory of investing is based solely on investor sentiment. I don't care about earnings. I say GOOG is trading at 390 simply because there are people willing to pay 390 right now. Just that simple. My targets up and down are based solely on support/resistance areas established using TA. And in the case of a stock that is running above last highest support like GOOG, I can even give you a target of where I believe the run will end. You can check the AAPL board for such an estimate since I really don't care to worry about GOOG too much. I like YHOO better as a short anyway and I mentioned that in several posts already, mainly because I have been following it much longer and I know where it needs to go based on TA. So that's it, that's my answer. As soon as fokes stop believin GOOG is worth what they are payin it will fall. Just as surely as you personally would not give somebody a $30 pair of blue jeans, ax them to beat the crap outta them, and then pay them $100 for em. :D Along with that I doubt GOOG will survive a market selloff which is a distinct possibility at this time.

[Thierry Martin]

My theory of investing is based solely on investor sentiment. I don't care about earnings. I say GOOG is trading at 390 simply because there are people willing to pay 390 right now. Just that simple. My targets up and down are based solely on support/resistance areas established using TA. And in the case of a stock that is running above last highest support like GOOG, I can even give you a target of where I believe the run will end. You can check the AAPL board for such an estimate since I really don't care to worry about GOOG too much. I like YHOO better as a short anyway and I mentioned that in several posts already, mainly because I have been following it much longer and I know where it needs to go based on TA. So that's it, that's my answer. As soon as fokes stop believin GOOG is worth what they are payin it will fall. Just as surely as you personally would not give somebody a $30 pair of blue jeans, ax them to beat the crap outta them, and then pay them $100 for em. :D Along with that I doubt GOOG will survive a market selloff which is a distinct possibility at this time.

If a market selloff occurs, always a possibility, the stocks don't change positions, or go into reverse, it's just the whole market that gets reavaluated. I don't understand why you think a market selloff would damage Google more than other stocks.

Could you explain to me what you mean by Google is only worth what people will pay for it? Is this something unique about Google? Do you mean that other stocks are priced differently?

You do understand that the high price per share for Google is a function of the amount of shares issued, not the "value" of a share. Right?

[deepinwonder]

I can understand that if you think a stock is being over hyped, eventually people will figure it out and sell off, regardless of what other stocks are doing. No charts or references needed for that, I use Google and try to shop on there. It's good for what it is, but I know it's not all it's cracked up to be on tv... :arrow:

[englishman26]

Boo - you're an entertaining guy! :lol:

[BOOOYAHOOO!]

Thierry, as of right now GOOG has a date with $265 minimum at some time in the future. I don't know what you mean about stocks changing positions. I consider some stocks cheap, some fairly priced, some slightly overbought, some very overbought, some grossly overvalued. Right now GOOG fits in the very overbought category simply because I know it can go to sub $265 at any time, either on its own because of news, or because the Naz decides to drop 100 points.

When I said GOOG is worth what somebody will pay for it I meant exactly what I said. Eventually, whether it hits $450, $500, $550, $700 or more in the next 2 months there will most certainly come a time when even the fokes who paid $250 a couple of months ago will say "I'm taking profits!" The art form is to figure out when that happens. I say you can only do that with TA. I have already challenged everyone at this site to pick an entry point on GOOG based on funnymental criteria. Which brings me to your last question.

The price per share is based on the belief that GOOG should have a 50 multiple because YHOO has/had a 50 multiple. And according to Jim Cramer and others GOOG is a much better company than YHOO. Earnings are projected to be $9 for next year and I'm sure it will be raised to $10 if any more good news comes out between now and year end. So as long as the earnings grow and nothing happens to the sector in general GOOG should be fine. But it is a very shaky sector because it is one of the most overvalued sectors. If the multiple or the earnings projection starts falling GOOG will get hit very hard. It could actually come from the $450 area. I wouldn't be surprised to see GOOG hit $450 simply because it is the most hyped stock out there right now, and as it climbs higher people just can't believe it keeps going higher. That breeds a mentality that you must get in or miss the ride. But the only thing that will be driving it higher is hype. You can already see that on the 25 day chart using 3 technical indicators, relatively high OBV means people want in and have been willing to pay up, the RSI peak it is making now is actually lower than the peak made when GOOG was at $340, all highs have been confirmed with higher highs and no signal that even higher highs are necessary. When GOOG turns it will hit $340 for sure. Not a great risk/reward stock to the long side IMO. Especially in a downtrending market where everything is selling off.

[jacobnbr1]

i would say this is a turning point right here. do we double top or break out into a new trend? or do we fade back down and go trendless?

[BOOOYAHOOO!]

I already told everyone what I think. :D

[jacobnbr1]

i know... i just wanted to hear your voice. was just trying to make conversation today to find out if anyone cares :roll: ... although we did 2182 so i may be looking for more shortings or adding to positions.

[jacobnbr1]

wow! that was a powerful day today... i wonder how booyahoo feels about his predichuns? looks to me we broke out...

[englishman26]

Yeah - that was some move. I expected today to be a bit of a down day. It started like that. To move up and out so hard like that shows some genuine excitement in the tech market and we could see a good run for weeks now! Boooyah!

[BOOOYAHOOO!]

Perdicshuns in tact! I mentioned in my other post today that the internals of da mawket were much less bullish than the rise in da Naz would lead you to believe. The Naz needs to trade up on the open (and probably strongly too) or it is in trouble big time. It can actually gapdown at this point but I wouldn't bet on that. I'd give that scenario about 25% odds, so the payoff on a bet like that will be huge if somebody wants to throw a few scheckles at it with an after hours short on say GOOG. :D The Naz finished firmly in da buy mode. Da VIX finished firmly in da sell mode. If a gapdown happens on the open we'll have a flip flop and the opposite scenarios will take place, Naz in sell mode, VIX in buy mode. That will be the worst case scenario for da bulls. What I think will happen is that both will work their way down slowly to buy/sell signals as da Naz rallies slowly on the open, and we'll have a turn later in the day. A strong upmove on the open is the other 25% possibility. You can bet on that in AH trading too, if yawnto. :D

[jacobnbr1]

i thinks you are very wrong on this. looks to me the market will do a leg up from here. i am not sure if appl will go with it or not, but it is acting like it is going to climb higher. if it does go higher i think it plays out until the end of year and will render the options worthless. i am by far not the best market person out here but the ma's down lie.

[englishman26]

I agree with that Jacob.

[jacobnbr1]

well english, i think da bears got one more shot and that is to double top da naz. as many puts as i have i am hoping for da double top, but i feel the long term trend is down in da naz until it surpasses that point in da naz and she is getting awfully close. word on the trading floor is " she goes higher" but these are futures traders talking and they be all long and bashing da shorts. they had claimed that today would have been a down day had all the bears not taken this holiday off. further. i thik a correction is due in da markets anyday now, so we may have to put the long term trend out to pasture for a while or at least til she breaks a vital point.
i am just curious that all the stocks seem to be extended, the peaks seem extended, a pull back should be near, but a top is near. the only thing i see is ma's not breaking down and the markets are strong. booyahoo could be very right after some carful review.

[BOOOYAHOOO!]

Jacob, you think I was wro...wrrro....wrrron..? I can't say it! :D I don't think I was what you said I was. In fact, I think I am going to be proven even righter than I thought I was gonna be! And now that they have driven even da gold stocks up I'll even stick wit me outlook that there will be no safe havens. Sho glad to see da mawkets seperating nicely from the energy pigs. You'll have to admit, I was right when I said that wazza gonna happen. :D

[jacobnbr1]

well i did revise my statment... :wink: it has come down to a double top or we break out and go higher. all do respect sir: market sentiment is to go higher, i wish it was over and i knew where we were going so i can sleep at night :lol:, the fact that we are so close to christmas and the year end rally normally occours places some strong funniementals into traders to the market climbing higher or breaking out. i think it is hard to predict what will happen therefore i have hedged to the upside as well.

[BOOOYAHOOO!]

Well Jacob, I don't pay too much attention to what the historical trends tell us anymore. There have been a bunch of historical "should happen" setups that went exactly opposite of what should happen. I do know sentiment is increasingly positive and I do know that even the most bearish of prognosticators are not calling for any type of serious pullback until next year. Even I personally don't think that we will get that real big fall down to Naz 1800's just yet, whereas 3 weeks ago I was at least willing to acknowledge the possibility. All I know is what da chawts tell me. And right now I am just glad that I am a verrrry patient investor. The easy money is still going to be made to the downside even though alot of the crap I like short is 10%+ above levels it was at the last time I said that. :D I just hope that any Naz fall is not a direct result of rising energy prices and energy stock prices. I am getting reeeal close to da payoff on me WMB puts. I want that pig to break below 17.50 as badly as the guy who bought SWN when Cramer told him to wants to see it rally! :lol:

[englishman26]

Ahh - I didn't know you were saying that the Naz drop would not come until new year! I think you've changed your tune. I think you've decided you were slightly wro . . wron . . . wrong! I actually agree that january will see a bit of a fall. I think some stocks will be immune to it, but the rest I'd like to sell before it happens. Maybe I'll adopt the Booyahoo trading technique next year! :wink:

[BOOOYAHOOO!]

Englishman, which drop were you speaking of? The one to naz 2040 or the much bigger one that will eventually happen? I would say the chances are still good for a drop below naz 2040 before this year is out.

[Frankie2006]

Honest Q. what do you think of IVAN at $1.43 heard its going to move very soon. :mrgreen:

[BOOOYAHOOO!]

Could be the start of the fall i've been hoping for. Da Naz did slip into sell mode today. A break below 2175 will probably mean that the retracement of at least 150 points has begun. Da VIX also confirming as today's 12.69 high should be taken out tomorrow and keep it firmly in the buy mode. We should see some serious drops in the most grossly overpriced crap out there right now. There really hasn't been a serious round of selling in just about anything that has made a 52 week high just recently. Most big names like GOOG, YHOO, crap like that needs to lose at least 50% of its current value. The good news for us buyers is that although the crap that everyone is trying to catch without cutting off a finger like IES, PRGX, UGHO, will more than likely get down to levels that will make one wonder what they were thinkin when they bought at say .45. :D I guess that's good news. It is if you had the patience to wait for the right time to buy anyway. :?

[jacobnbr1]

you gotta be kidding me. close at da top. i never imagined it would close at da top. do we bounce and retrace or do we go higher, i think da market is well extended and due for a pull back. if it doesnt pull back here, the shorts will be shitting their pants....( this includes me 8O )

[BOOOYAHOOO!]

It's tough to be patient when you are trying to catch a change of trend, but I still think the shorts who hung in there to the bitter end will be justified. I think the people who thought the Naz would surely tumble after it got to the 2100 resistance area from the previous low have more than likely thrown in the towel by now. So what we have left are the ones who will pay any price to buy a stock like HANS, ISRG, and YHOO against the ones that are saying "no way this pig goes any higher" and continue to short into strength. Basically the tough guys are left now. Somebody is gonna win da battle. When the victory comes it will be a big event for the winner. And those who were wrong will be very sorry. My suggestion is to look around the markets and see where yer favorite pig has come from in just the past 30 days or so. Then think about whether you would still buy it based on where it just came from. I don't mean you long term investors who are buying SIRI at 7.50 either. Those fokes are just plain braindead! :D The lowdown on da hoedown is that today's high in the Naz needs to be taken out in da future at some time. The smart thing for the bulls to do would be to come back later and try again. :wink:

[jacobnbr1]

as da naz keeps rocketing up past the point where a double top would have been great for me, i just have to wonder if after we broke the resistance area, the market gains aggresive strength overpassing a suspected pull back area? i think there was alot of guys like me betting a double top was being set, and now the market is above the suspect double top area we are catching a short covering panic? i am seing put option volume on all my short positions. i know a pull back has got to come but i dont see when, and i dont think it will be that bad. just a normal pull back. maybe jan will have the bigger downturn? who knows really, i am just going to try to stick with the plan of action and forget about forcasting where or when a big turn may be. the only thing that matters is the current trend of wave we are in ,and how far away from support-resistance we are. and for sure what sectors are warming up-cooling off... :D