Thursday, August 28, 2008

I''m getting that

We are going to the moon, my shorts go to the cleaners, I'm going to miss the epic rally of the century feeling....

how is that for an indicator
at

15 comments:

  1. tradewellAugust 28, 2008 at 3:21 PM

    I'm itching to buy SSO for the same reason.

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  2. EricAugust 28, 2008 at 3:26 PM

    have fath that your "Feelings are wrong young skywalker"... I don't know what to say... but hedging is smarter than bailing.

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  3. tradewellAugust 28, 2008 at 3:44 PM

    I'm not bailing, staying put. I'm not in dire straights in any way.

    It's tough for 2 reasons: first, today I hadn't had a single trade, and i'm addicted.

    Second, I want to cover some MOS just to show a profit for today, but it's way off my target still.

    Long weekend is going to be tough.

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  4. tradewellAugust 28, 2008 at 3:46 PM

    I thought RTH was good, but no:

    "When it comes to ETFs, the Retail HLDRS (RTH) can be a poor proxy for retail in general (too concentrated on Wal-Mart (WMT), Home Depot (HD) and Lowe’s (LOW). "

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  5. EricAugust 28, 2008 at 3:48 PM

    the volume in those are are paltry...

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  6. tradewellAugust 28, 2008 at 3:55 PM

    Are you long SPY yet?

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  7. EricAugust 28, 2008 at 3:56 PM

    I own financials, it's offsetting the loss....by far.

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  8. EricAugust 28, 2008 at 4:08 PM

    with those dell earnings I bet I could get out of the qid in the postmarket.....

    or it will scare the shit out of everyone tomorrow?

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  9. tradewellAugust 28, 2008 at 4:10 PM

    Kaboom

    I'll wait to see what happens tomorrow :)

    QID NAV is way above it's closing price, by the way.

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  10. EricAugust 28, 2008 at 4:19 PM

    LOL.... I'm tempted to fade you, just like you should have been fading me for the past week

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  11. EricAugust 28, 2008 at 4:20 PM

    So, If I'm Costanza..... Shit!!!!

    Cant figure this out.....

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  12. EricAugust 28, 2008 at 4:23 PM

    You know I'm laughing at me right?

    I can never figure out what I want to do emotionally, and rationally

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  13. tradewellAugust 28, 2008 at 4:29 PM

    So what didja do to your QID?
    (lol kid)

    It's both DELL and QCOM.

    At this point, what can anyone, the Fed, whoever, whatever - what can they do to make things look good before the long weekend?

    Is there any chance we have another rally tomorrow?

    I have to do some work now, but I'll be around, looking at charts and stuff.

    Having a glass of cognac, to make things better. Cheers.

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  14. EricAugust 28, 2008 at 4:40 PM

    SO, you wanted to get long the spy.

    I almost had Blood flowing out my eyeballs....(that is an ok indicator).

    I almost want to get out of that short position Now... So it's too early to exit.

    If tony Panicked today... We have a Trifecta for a small Reversal....

    But, We all will want to chase the Short Naz tomorrow.

    so... I say we stick to that the pattern is reversing, and should use this to exit, Cause that sounds like what my rational mind is saying.

    Hope for a heavy run against banks(maybe even some Scary news tomorrow), and Load into them...

    Or should we be loading into Tech?

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  15. tradewellAugust 28, 2008 at 4:50 PM

    Tomorrow I will exit QID, short JCP (my fav. trade), cover PSUN and that's it. Will keep my other shorts.

    Until I get a better idea of what's happening with the direction I'm staying on the sidelines - index-wise.

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