Monday, June 24, 2024

Bear Funeral…

No Post For Friday Gang.  I'll have the weekend post up by late Sunday Night, and I'll do a video too.  Go Enjoy The Weekend.

How many bears got wiped out today?

The market rallied up today on NO news at all.  However, all the technicals did point for a possible breakout, but I sure didn't think it would be so large.  That means tomorrow will most likely be just a pause day, with little movement in either direction.  I'd lean more toward a small pullback, as we hit the 200ma on the spx and dow.  The market rarely pushes through on the first hit of a major trendline.

I believe the target area that the market is trying to go to, is the 1120 spx, and even possibly the 1140 spx.  Will it get there?  It's hard to say for sure.  There are lots of road blocks along the way, that could stop it dead in it's tracks.  The 1120 area is the gap fill area from May the 20th, and the 1140 area is just under the left shoulder from early January of this year.

So for tomorrow... it's anyone's guess.  Since it's a Friday, and we are going into a 3 day holiday weekend, I don't expect much volume to be traded.  That will of course favor the upside.  But, that doesn't mean the market will have enough energy to pierce through all the overhead resistance.  That's why I'm just expecting a flat or "pause" day, with not too much action on the up or downside.

This move up today was probably a "C" wave, or a "3"?  I'm not a Elliottwave expert of course, but just about any trader would probably agree with me on this call.  So tomorrow is the day to lock in your positions for next week... depending on whether you are bullish, bearish, or just plan on sitting in cash to be safe.

Red

Red
Author: Red

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bensjoyce
bensjoyce
14 years ago

http://www.stockopedia.co.uk/content/larry-pesa

The above is very interesting for the Doom and Gloomers. he has a long record of credentials and he says crazy things will start to happen about June 2nd “Beware he says”

Larry Persevento

Red Dragon Leo
14 years ago
Reply to  bensjoyce

I listen to Larry Persevento sometimes when he is on Tiger Financial Network. Haven't listened in awhile… I'll check this one out. Thanks.

ronwilker
ronwilker
14 years ago
Reply to  bensjoyce

hope he's right so the bears can experience some good times… 🙂

jimhobson
jimhobson
14 years ago
Reply to  bensjoyce

Well he sure missed yesterdy

anoopsan
14 years ago

Russell 2000 Index takes a new turn in the hourly chart

http://niftychartsandpatterns.blogspot.com/2010

Thank you

Red Dragon Leo
14 years ago
Reply to  anoopsan

What are you looking to happen tomorrow? Up, down, or flat?

anoopsan
14 years ago

Breakout stock of the day from NASDAQ – LMNR(limoneira co)

http://niftychartsandpatterns.blogspot.com/2010

Thank you

pezhead9000
14 years ago

SPY Thoughts:
– H&S is panning out – target ~114-115
– Fib retracements 111.17 (38.2) (also 13ema), 113.21 (50), 115.26 (61.8)
– 115.26 = 61.8 fib = left shoulder !!

bensjoyce
bensjoyce
14 years ago

One thing about Bollinger Bands on the monthly Chart.

We did not hit the upper BB at 1286. If we close below the Middle BB at 986 then the odds are that we hit the LOWER BB, at 739 BEFORE we hit the upper BB again.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  bensjoyce

Thanks, Ben! I cannot conceive of hitting 986 today, but I'll put the stops in anyway.

Thinking Tuesday will be down, and bottom will be 6/3 or 6/6.

Today we might be sweating.

anoopsan
14 years ago

Apple Inc Buy signal in daily chaRT

http://niftychartsandpatterns.blogspot.com/2010

Thank you

Earl of
Earl of
14 years ago

Carl’s morning call:

June S&P E-mini Futures: Today's range estimate is 1093-1110. I think the low at 1036.75 ended the drop from 1216. The market has broken above the 1089 high of its recent trading range and this means that a move to 1300 is underway.

1096.50 – 1106.75 range last night (10.25 points, 40% of normal)
1093-1110 estimate for today (17 points)
average actual range last 10 days has been 27.0 points

1103 currently, so estimate is -10 to +7 from here (neutral)

Rip Van Trader
Rip Van Trader
14 years ago

UK market is making an H&S this morning. We should join them at about 1103-5, drop to 1095, then back up to 1103-5 (or not) to end their day, from which we proceed to 114.40 (or not) to make our day.

Every day is like a Chinese menu.

jimhobson
jimhobson
14 years ago

Well i still have a small posittion in TZA and typ. And di not move long as I had to leave the computer for a while.

May ick up some sso on a drop today to get ready for next week. It seems the bulls have some control and that Anna 1140 target is becoming probable.

But mostly cash

wendel
wendel
14 years ago

I think that the 1150 area will be difficult to clear and expect some type of tail off that area. In addition to the 50 EMA there is also a major gap at the $115 area.

Its possible we get rejected near there…come back down to the neckline…form some positive divergence and then move towards the 1180-90 area and hopefully continue on with a huge burst to get to new higher highs.

Red Dragon Leo
14 years ago

Probably not much movement today gang. That 3 day weekend will have many traders leaving early. It's going to be a boring Friday it seems.

anoopsan
14 years ago

Intraday hourly chart of APPLE INC shows the stock testing resistance line.

http://niftychartsandpatterns.blogspot.com/2010

Thank you

monicadern
monicadern
14 years ago

Been gone all morning. It's been a pleasant few days (not) but I am still short. My guess is they take this thing up into the close but I will stay short because one really never does know, does one?!

Red Dragon Leo
14 years ago
Reply to  monicadern

Not much going on today Monica…

I expect just a lot of sideways movement, but no real trend either way. We should go down next week. I'm staying tight too.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

Red, I wouldn't be surprised if they ramp it into the close again but I a staying put (literally). I'm not going to watch.

SC
SC
14 years ago
Reply to  monicadern

It is ok if you know the worst case scenario. The good thing about buying options is that you can't lose more than what you put in.

You can't always close your eyes and walk straight out of a minefield. 🙂 But if you are riding in a mine resistant armoured car, your chances are better. lol

monicadern
monicadern
14 years ago
Reply to  SC

yes. of course the difficulty with options is that even if you are right, if there is too much sideways movement or the action takes too long to play out, you lose all your capital. There really is no easy solution.

jimhobson
jimhobson
14 years ago
Reply to  Red Dragon Leo

Long term charts are still bearish 10 20 days below 50 and still down.

iam debating on whether to add to my short position s in this weakness??

Red Dragon Leo
14 years ago
Reply to  jimhobson

Tuesday could be another up down Jim, but the week as a whole is very bearish. I seem to buy my positions at the wrong time too, but the trend for next week is still down.

But, I can't advise you on whether you should get a short position today, or take a chance on another up day on Tuesday. It's hard to say, as some really negative news could be realized over the weekend, and trap all the bulls… which means Tuesday would fall hard, giving you no chance to get short.

jimhobson
jimhobson
14 years ago
Reply to  Red Dragon Leo

I do not take opinions as advice and i like listening to any opinions.

I have a hard time seeing a bounce up to 1140 as many have called for w/ these charts but i sue as heck did not see yesterdays other than it was an oversold by in IMO.

i have made my biggest profits in shorts buying into weakness and strength. Of course at some point that works against you.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  jimhobson

Market's acting weak either making a bull flag or starting to tank, hard to tell.

I sold a little ETF equity (less than 10%) to make room for puts purchases and to preclude any possibility of a margin call if we go higher today. I hope this wasn't a mistake!

monicadern
monicadern
14 years ago

SC, if you are out there, can you tell me where the teal line resistance is now on the 60 min? I tried to figure it out yesterday but I could only chart the 100 weighted MA with 60 minutes on the 10 day chart and I'm not sure that is the right way to do it?!

SC
SC
14 years ago
Reply to  monicadern

It's at 110.2 now, Monica.

monicadern
monicadern
14 years ago
Reply to  SC

THANK YOU!!!!!!!!!!!!!!!!!!!!!

Earl of
Earl of
14 years ago

Carl just went Long one unit at 1096.50

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Earl of

I suggest putting a stop at 1089. It will be very bearish if we go below 1090 today.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Rip Van Trader

BTW, are you Carl? The SN is pretty confusing.

Earl of
Earl of
14 years ago
Reply to  Rip Van Trader

Didn't mean to mislead you. Carl is Carl Futia. He has a blog of his own, and posts his trades and his outlook.

You can find him — just Google Carl Futia

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Earl of

Ah, OK. I was curious about your TZA/TNA posts and wondered if that was you.

Read your profile and see you trade TZA/TNA. I've gotten some TZA equity and options, very vibrant right now! Maybe not so much later. 🙂

Earl of
Earl of
14 years ago
Reply to  Rip Van Trader

I'm all cash — the overnight swings these days are too much. Looking for an entry into TNA.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Earl of

Right now is good is you are a bull, but I am not a bull today. I think we are going to fail 1105, which is why I suggest the stop. It would be a good play.

We may rally to 1140, but I am certainly not a bull after that.

Earl of
Earl of
14 years ago
Reply to  Rip Van Trader

I'm not a bull, I'm a fan of candlesticks, and TNA has the better candlestick formation.

Earl of
Earl of
14 years ago
Reply to  Rip Van Trader

I haven't figured out Carl's plan for stops. I've seen 3 point stops, 5 point stops, and one ugly 19 point stop. But he never says what his safety plan is.

anoopsan
14 years ago

Nasdaq 100 resistance line seems to be strong. Not able to break it till now

http://niftychartsandpatterns.blogspot.com/2010

Thank you

Red Dragon Leo
14 years ago
Reply to  anoopsan

Are you bullish or bearish into next week? I looked at your post from yesterday, and you seemed bullish.

Turbo Tim
Turbo Tim
14 years ago
Reply to  Red Dragon Leo

wonder if he ever responds

wendel
wendel
14 years ago
Reply to  Red Dragon Leo

I think this week we end pretty much flat from last week.

I think next week we end lower then this week (with up and down moves during the week).

Turbo Tim
Turbo Tim
14 years ago

is the funeral over

Red Dragon Leo
14 years ago
Reply to  Turbo Tim

I think the bear was just exhausted, but regaining strength again today. LOL.

Turbo Tim
Turbo Tim
14 years ago

red, did u get email

Red Dragon Leo
14 years ago
Reply to  Turbo Tim

I got it… thanks.

Red Dragon Leo
14 years ago
Reply to  Turbo Tim

I was just trying to read it, while drinking some coffee.

Rip Van Trader
Rip Van Trader
14 years ago

Buying more inventory at 1105 but going to take it easy, just wetting the beak.

Turbo Tim
Turbo Tim
14 years ago
Reply to  Rip Van Trader

nice wording- inventory

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Turbo Tim

Stole that from other posters here. 🙂

Red Dragon Leo
14 years ago
Reply to  Rip Van Trader

LOL
🙂

wendel
wendel
14 years ago

I'm buying ALL pullbacks.

Bought more FAS and SSO.

wendel
wendel
14 years ago

I think 114 will be a critical area…. however, because we had such a strong move down and everyone will be eyeing that area….I believe we will see higher highs.

Red Dragon Leo
14 years ago

There were several large (1 million plus) orders that went through on the spy yesterday in afterhour. They were around the 107 spy level. I wouldn't be surprised if they didn't dip down close to that area today on a stop sweeping mission.

Of course if they do, I expect a rebound by the end of the day. But, that might not happen until next week? It's hard to say.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Red Dragon Leo

Saw one of those, anyway, and it was on a downtick.

Could have been scooping buys or sells, hard to say. That's a lot of shares.

Red Dragon Leo
14 years ago
Reply to  Rip Van Trader

It should would clear out all the new bulls from yesterday, if they dip down that far today. They cleaned house on the bears… why not clean house on the bulls?

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

I just thought they would squeeze it into the close to get everyone long for next week. Hmmm. Maybe they take it down and bring it back up to even keeping everyone guessing.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

They love to keep us guessing!

SC
SC
14 years ago
AS2009
AS2009
14 years ago
Reply to  SC

CPCE – means how many calls to how many puts so 1.6 calls for every put – is that right … so people overly bullish ?

AS2009
AS2009
14 years ago
Reply to  AS2009

LOL put call – so everyone is bearish …

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  SC

How are you reading this, SC? Could cut either way.

SC
SC
14 years ago
Reply to  Rip Van Trader

Yes by itself it can mean :

Door # 1 : 2008 replay.

Door #2 : Free ride on Sucka'saurus to the Titanic.

Taking the panic selling + double spike reversal, the evidence point to Door #2.

Take a look at this.

http://smartmoneytracker.blogspot.com/2010/05/d

Red Dragon Leo
14 years ago
Reply to  SC

That guy is obviously a bull, and he doesn't trade options either. Not my trading style. I'll stick to short term moves and try to play both sides. Right now I'm still a bear until I see a lower low.

SC
SC
14 years ago
Reply to  Red Dragon Leo

His label and opinions mean nothing. It's the data on that chart. I didn't want to just grab his chart. So I linked to his article to give him the credit.

Red Dragon Leo
14 years ago
Reply to  SC

That's cool…

You could have posted both a link to his site, and his chart if you wanted too. I like to promote other people too. After all, it's the least I can do since I borrow their charts all the time.

🙂

SC
SC
14 years ago
Reply to  Red Dragon Leo

I could recreate the damn chart too. But I am lazy. LOL

Red Dragon Leo
14 years ago
Reply to  SC

I could too SC, but I'm like you… lazy. Why bother, when there are so many good chartists out there that don't seem to mind if you borrow their charts.

I always put them on the blogroll and promote them when I can. The Chart Pattern Trader and Cobra are my two favorites. Both very good at what they do.

Lot's of others too, and I have them on my blogroll as well. It's great to look at all the different charts, so you don't miss a trendline or something. It helps you see the big picture.

AS2009
AS2009
14 years ago

We may have just tested the neckline of the inv H&S measuring to spy 114 … depending on if we turn from here …

AS2009
AS2009
14 years ago
Reply to  AS2009

10 min uup looks like a bear flag with the fall from yest – what do others think ?

Red Dragon Leo
14 years ago
Reply to  AS2009

We are trying to hold on to the neckline. But, the 60 minute chart is losing steam and about to turn back down. Hard too know if this will hold of if people will sell into the close?

wendel
wendel
14 years ago

I try to buy when the 15min and the 30min crossover together.

Red Dragon Leo
14 years ago
Reply to  wendel

Makes good sense wendel… I sell when the 60 and 15 cross.

wendel
wendel
14 years ago

For a larger picture, the daily has moved off the bottom.

Red Dragon Leo
14 years ago
Reply to  wendel

Yes Wendel…

But we need the daily to move up and the market to move down, so a positive divergence will show up. Then the bottom will be in.

wendel
wendel
14 years ago
Reply to  Red Dragon Leo

I am expecting that to happen in the next several weeks.

A back and forth to set it up.

AS2009
AS2009
14 years ago

Fake print to 110.72 when mkt was at 109.8 …

Red Dragon Leo
14 years ago
Reply to  AS2009

I see that intraday fake print too. I'm sure they will take it there shortly.

AS2009
AS2009
14 years ago

Looks like the uup bear flag is trying to break down …

anoopsan
14 years ago

Dow Jones 5 Minutes down ward channel that may break on the upside.

http://niftychartsandpatterns.blogspot.com/2010

Thank you

Earl of
Earl of
14 years ago

Carl just sold one unit at 1091.75

Rip Van Trader
Rip Van Trader
14 years ago

What do you guys think? Is the wolf pretending to be limping or is it a real breakdown?

Rip Van Trader
Rip Van Trader
14 years ago

Conveniently stopping on lower TL of rising wedge.

The crowd oohs and aahs.

Like a tightrope walker dropping his pole.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Rip Van Trader

A miraculous recovery: the tightrope walker is now reading a book and brewing a cup of tea while balanced on a chair.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Rip Van Trader

VIX is touching up her lipstick and checking her cleavage.

monicadern
monicadern
14 years ago
Reply to  Rip Van Trader

Like your comments today 🙂 LOL!

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

LOL. I'm feeling sarcastic today.

The man behind the curtain is bellowing and banging pie pans but I'm on the right side this time. I THINK. You can never be sure until everything's over and you're sitting in cash again.

jimhobson
jimhobson
14 years ago

Not what i expected. Cap vision is showing a hard break down next week.

Yes i am perplexed

wendel
wendel
14 years ago

That was a pullback from the resistance (a pullback from the first attempt which can usually be expected) and a buy signal.

SC
SC
14 years ago
Reply to  wendel

Permabears will be fighting the market, once again.

Red Dragon Leo
14 years ago

The 60 minute chart is rolling over now. I doubt that too many traders will hold their long positions into the 3 day weekend. Gap window is at 108.88 on the spy, and seems like a likely target to be hit today.

Red Dragon Leo
14 years ago

Look at this 60 minute chart. Looks like it's going to roll hard into the close today.

http://stockcharts.com/def/servlet/Favorites.CS

anoopsan
14 years ago

Dow Jones 5 Minutes Chart price back into the channel after some noise

http://niftychartsandpatterns.blogspot.com/2010

Thank you

Red Dragon Leo
14 years ago
Reply to  anoopsan

I believe it will stay in that channel for the rest of the day, and continue lower into the close.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Red Dragon Leo

It will be out of the channel in a hurry if it doesn't close over 1100 by 2:30.

Not that it won't; it's all drama.

Going to set my cell phone for alerts and go cut the grass. 🙂

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

can we say 107.2095 here we come?! Maybe of course 🙂

Red Dragon Leo
14 years ago
Reply to  monicadern

In afterhours last night, two large orders went through of over a million shares each. One was about 106.88, and the other was 107.17 spy. Gap fill is at 106.88…

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

I saw that it said the low was 106.80 but I couldn't find that print (although I did see the 106.88 one). I saw multiple prints at 107.2095.

anoopsan
14 years ago
Reply to  Red Dragon Leo

although dow went up till 10210 levels, it is coming down as you said let's see were it ends

pezhead9000
14 years ago

Went long – may God protect those with monkey brains

Red Dragon Leo
14 years ago
Reply to  pezhead9000

Pez,

If 108.88 gap window breaks, the markets' next stop is gap fill at 106.88 spy. Put in a tight stop my friend, and good luck.

pezhead9000
14 years ago
Reply to  Red Dragon Leo

Bought chinese 2nite from the Red Dragon rest. 🙂

anoopsan
14 years ago

Dow jones one hour chart with ichimoku cloud

http://niftychartsandpatterns.blogspot.com/2010

Thank you

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  anoopsan

That's very interesting, San. Thanks for posting.

Rip Van Trader
Rip Van Trader
14 years ago

The acrobat falls, but impossibly reaches out with a slender hand to grasp the wire.

C'mon bears, somebody smack that ***** down!

Turbo Tim
Turbo Tim
14 years ago

where is anoopsan's new chart. He has been given a job, and he is slacking. Hurry buddy, we are waiting.

anoopsan's chart, cant live without it

anoopsan
14 years ago
Reply to  Turbo Tim

thanks for the interest turbo

monicadern
monicadern
14 years ago
Reply to  anoopsan

yes it was a good call san, even though I am a perma bear 🙂

Turbo Tim
Turbo Tim
14 years ago
Reply to  anoopsan

anoopsan

What is the status after close. Esp. daily chart

Thanks

anoopsan
14 years ago

There was negative divergence in DOW HOUR CHART

http://niftychartsandpatterns.blogspot.com/2010

Thank you

jimhobson
jimhobson
14 years ago
Reply to  anoopsan

Interesting that it is still there and check out the volume for yesterday relative to the drops. on the daily Dow it poked above the 10 day but has dropped back and all averages are still down. in fact the 10 day has not even turned

anoopsan
14 years ago
Reply to  jimhobson

yes jim as long as the price does not cross the recent high or 10250 levels it is negative

Red Dragon Leo
14 years ago

This is the perfect setup for the bears next week gang. Very bearish now. Next week should fool a lot of people.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

agreed but i would think it best for bears if they run it up until the close.

Red Dragon Leo
14 years ago
Reply to  monicadern

Yes Monica,

I would like to see a flat or positive close today. That would be ideal for the Bears I believe.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

funny, when the market is up my account looks much worse than in looks good when it was down. That shows the complacency in the VIX.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Red Dragon Leo

I am glad that first and last 15 minutes of each day will be immune to the new trading regulations. Plunging is best left to professionals.

God bless heroes like Ben Bernanke and Tim Geithner, who put it all on the line for us every day.

Red Dragon Leo
14 years ago
Reply to  Rip Van Trader

LOL Rip… Let's give them an award. How about a long rope to tie around their necks, and a chair to stand on with a broken leg.

monicadern
monicadern
14 years ago
Reply to  Rip Van Trader

when will they be enforced and what are they?

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

June 15th, I believe. Can't waste any time protecting the retail investor!

Red Dragon Leo
14 years ago
Reply to  Rip Van Trader

Well there you go then. The correction will be over by June 15th, and they would put in the safety measure then, while they rally the market back up for a month or two. LOL

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

but correction will be over june 25th no? And, if they ban short sales, what happens to options? Aren't the underlying contracts based on shorting?

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

Writing naked options is supposed to be illegal. It is similar to shorting in that you must borrow the stock if you don't own it.

Haven't studied in detail, figure I'll just take it as it comes.

monicadern
monicadern
14 years ago
Reply to  Rip Van Trader

My options aren't naked, only I am! Just kidding!
Anyway, I know they'll find a way to screw me somehow when/if I am in the money 🙂

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

LOL.

Got to trade while velocity is terminal. The triggers ought to work pretty well, though if you get a chance, manual is better.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

Big thing will be to suspend trading when it gets violent, except for beginning and end of day.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Rip Van Trader

Possibly banning short sales unless you own the stock. How cool that works out for the professionals, and protects us, of course.

jimhobson
jimhobson
14 years ago
Reply to  Red Dragon Leo

Are you looking at something specific??

Red Dragon Leo
14 years ago
Reply to  jimhobson

No Jim….

Just a feeling I get by looking at all the charts.

jimhobson
jimhobson
14 years ago
Reply to  Red Dragon Leo

Sometimes i get mesmerized by the short term charts and forget to look at the longer term charts that really have not changed much. All yesterdays bounce did was peak above the 10 day average w/. Barely peaked above down trend line and closed lower than it .

wendel
wendel
14 years ago

I used that ichimoku cloud on the SPY daily. Resistance at 112.50.

wendel
wendel
14 years ago

Looks like we're locked in the 1050-1100 area for the near term.

anoopsan
14 years ago

Dow hour chart with ichimoki cloud gave a good trade

http://niftychartsandpatterns.blogspot.com/2010

Thank you

pezhead9000
14 years ago

someone just flushed the …

monicadern
monicadern
14 years ago
Reply to  pezhead9000

monkey brain teasers out the window!

Red Dragon Leo
14 years ago
Reply to  pezhead9000

LOL

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  pezhead9000

Our financial patriots at work. 😀

Hope you got that stop, Pez.

You can check into after-hours trade if you are stuck.

pezhead9000
14 years ago
Reply to  Rip Van Trader

If we gap down tuesday, there is no god

monicadern
monicadern
14 years ago
Reply to  pezhead9000

then there is no g-d.

monicadern
monicadern
14 years ago
Reply to  monicadern

Actually I take that bad g-d. I didn't mean it!

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  pezhead9000

I believe in God, but I also believe there are dirty human hands all over the stock market. It will go up or down, depending on how the house is stacked.

Historical pattern is it will plunge bad. Look at late 2007 for examples.

We could also rally dramatically, won't know until Tuesday. That's why I'm sweating out my position, because I don't want to miss the drop.

If there is one. 😀

monicadern
monicadern
14 years ago
Reply to  Rip Van Trader

You and I will be fine Rip. Have a good weekend and don't worry about it. Now, I remember that someone said last time they banned short selling, there was a big plunge in the market (since there was no one to run and cover shorts). Maybe that is there intention as the bottom of the market should be June 25th.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

There may be a rally Tuesday, or it could dump. If we rally Tuesday, we dump Wednesday.

I will have stops set pretty high, so that only a real rally can take them out. The 'teal line' does get violated by 25 points sometimes.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

Yes, the short selling ban worked out badly, except for the foxes. 🙂

have a nice weekend!

Red Dragon Leo
14 years ago

Closing price on the russell index… 661.61 LOL

anoopsan
14 years ago

Weekly bullish engulfing in NETAPP INC

http://niftychartsandpatterns.blogspot.com/2010

Thank you

Red Dragon Leo
14 years ago

No Post For Friday Gang. I'll have the weekend post up by late Sunday Night, and I'll do a video too. Go Enjoy The Weekend.

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