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.
J. P. Morgan
Wednesday, August 27, 2008
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8 comments:
Shocking twist in the end, but I'm not convinced. Wish me luck.
I Know I get confusing/confused sometimes... I'm still short.... I would set a stop for the recent high... Or a mental stop for the recent high.... even if the futures say up, tomorrow.... I'd still look for a sell off after the open.
This did look like a continuation of the Descending triangle, I like that they tried to sell off at the end.
It was the Financials that took the market up at the end.
If I read technicals only, and Just stick to that, this trend should break down.....
If we do break beyond the recent range to the down side... I'm going to get out of my short positions.
I'm having a tough time being in sync with the market....
What I like is that, if you notice these rallies seem to be getting smaller...... that is a good sign.
Unless it shoots 200 pts tomorrow.
Every bear board and blog is full of people saying "i'm sorry but we're going up". Hmmmmm :))
Here's a diversion question: where do you see the next bubble?
I'm trying not to think about the market right now....
Big Pharmaceutical companies, some of them are still very Parabolic.
But seem to have been "Dip purchased"
I still suspect retail.... but maybe a ton of money is flowing there because they don't know what to do with it.
I guess that is good enough sentiment to go down(right? that is what your suggesting.I'm having a hard time not being direct.)... and good news... we had 2 green candle days. and they were relatively weak, We could follow it up with 2 red days?
Right? when confused stick with the technicals...
All my stocks are red after hours, told you it wasn't convincing.
Another way to short retail: RTH.
Biotech is giving "buy signal" apparently.
Since it's pretty much an 'established fact' that we'll sell off this fall, I mean EVERYONE is saying that... again - doesn't that mean we won't sell off?
But then if everyone expects a sell off, there won't be anyone willing to go long.
On the other hand, I may only be reading bears. There's plenty of people think everything's bottomed - financials, housing, casinos... Crazies.
I have no trades planned for tomorrow unless something I have is significantly in the money.
Do you trade every day?
Where do you get a "buy" on biotech?
I made 2 trades today.
I sold something I had a 3% one day run in, Then it sold off, and I purchased it again.
I'd love to not trade for several days.... I probably trade every other day... It depends.
>>Where do you get a "buy" on biotech?
FusionIQ
I'm off. Goodnight.
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