Financial history doesn't repeat itself, but it often rhymes.
You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
Thursday, February 28, 2008
nasdaq seems like it's leading..... I just went all in.... see if we can loose some real money today.
You mentioned SMH looking better yesterday. I'm looking at TSM and it looks like the end of a A-B-C pullback. I realize there is a lot of risk in long positions, but I'm thinking of getting in long at 10.00 to 10.05.
Also, your pro-con on Gentle Ben was great! Barry Ritholtz has a fictionalized acct of Senate testimony if Ben told the truth:
we should get a mid day (positive) correction right now... or maybe some range bound action..... but putting more money to work short in the last 2 hours of the day... this is tough...
I suspect a move on the spy to the 137.25 ish range... Probably in a 5 wave move... which will have ABC look to it....
Another possiblility is maybe range bound till the 2:30 EST... in the 137-136.50 for a while....
I just think that we will probably move higher for a bit here today.
The Semiconductors have lead us down for 6 months now... I wouldn't touch them....
My comment about their stregnth was as an indicator about underlaying stregnth in the market.
TSM looks good as a stock though.... but maybe buy it when we get to the bottom of the trading range down at 12200 on the dow....... if we get there.
You mentioned SMH looking better yesterday. I'm looking at TSM and it looks like the end of a A-B-C pullback. I realize there is a lot of risk in long positions, but I'm thinking of getting in long at 10.00 to 10.05.
ReplyDeleteAlso, your pro-con on Gentle Ben was great! Barry Ritholtz has a fictionalized acct of Senate testimony if Ben told the truth:
http://tinyurl.com/28fas8
we should get a mid day (positive) correction right now... or maybe some range bound action..... but putting more money to work short in the last 2 hours of the day... this is tough...
ReplyDeleteI suspect a move on the spy to the 137.25 ish range... Probably in a 5 wave move... which will have ABC look to it....
Another possiblility is maybe range bound till the 2:30 EST... in the 137-136.50 for a while....
I just think that we will probably move higher for a bit here today.
The Semiconductors have lead us down for 6 months now... I wouldn't touch them....
My comment about their stregnth was as an indicator about underlaying stregnth in the market.
TSM looks good as a stock though.... but maybe buy it when we get to the bottom of the trading range down at 12200 on the dow....... if we get there.