karennma
8,057 posts
msg #62028
- Ignore karennma |
5/1/2008 7:26:37 PM
Shorts beware!
Note Time Knight's warning:
"please consider the graph below a HUGE warning sign; the risk of a breakout is very, very real, and it would be devastating for the bears."
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nikoschopen
2,824 posts
msg #62031
- Ignore nikoschopen |
5/1/2008 9:11:17 PM
I dunno, Karen. I hardly ever follow Tim's blog but when a self-professed permabear like him breaks out in sweat and implores for mercy, I guess ya gotta listen! Personally, I ain't given up on the bear market scenario just yet but I might need to reconsider if this market don't fall anytime soon.
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karennma
8,057 posts
msg #62033
- Ignore karennma |
5/1/2008 9:31:56 PM
In response to T.K. being a "permabear" ...
"I'm on the side of profits. I'm on the side of minimizing losses. No one is going to pay me to be a permabear."
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karennma
8,057 posts
msg #62035
- Ignore karennma |
5/1/2008 9:34:29 PM
Honestly, after I saw the DOW break 13,000, I knew I was finished.
I made a grave miscalculation, and my loss is irrecoverable.
I'm done.
I don't know how the Fed did it, but they did.
Good luck!
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nikoschopen
2,824 posts
msg #62044
- Ignore nikoschopen |
5/2/2008 1:59:36 AM
Honestly, Karen, there's something gawdawful suspicious about the current move. Unlike any other inverted head and shoulders pattern, this one in particular not only stares right out at you, it practically roars with its fangs bared. I mean, c'mon, ya just can't miss it. And in this day and age, who isn't familiar with H&S? So with everyone watching the same thang, just what are the odds that this inverted H&S will pan out? I'm willing to be a contrarian and bet that the big institutional A-holes with the blessing from the Fed will screw the public.
Of course, these are merely my own opinion. Moreover, I cannot emphasize enough the importance of using stops. Only those who strictly adhere to the Darwinian principle of the survival of the fittest will stick around just long enough to trade.yet another day. Being able to survive and staying fit ain't exactly my motto but being alive to see another day is.
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karennma
8,057 posts
msg #62047
- Ignore karennma |
5/2/2008 7:26:59 AM
Well, I must be blind ..
I never saw an inverted H&S on the DOW.
Still don't ...
But for me, it's water under the bridge now.
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nikoschopen
2,824 posts
msg #62049
- Ignore nikoschopen |
5/2/2008 9:22:23 AM
Well, who knew the market can be so easily persuaded on "bad, but-not-that-bad" factors. I always thought the damn market moved from one extreme to another. Go figure. One thing that's constantly flashing across my radar, however, is that the volume is quite low for a breakout, if there ever was one. What used to smell fishy now smells like outright crap!
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karennma
8,057 posts
msg #62050
- Ignore karennma |
5/2/2008 9:29:02 AM
This whole things smells worse than "fishy" .. it STINKS!
This is just a repeat of last year.
When I saw the headline this morning: "Unemployment at record 4-year high" .. I thought .. okay, another market rally on bad news.
I'm done with all this BS.
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karennma
8,057 posts
msg #62052
- Ignore karennma |
5/2/2008 9:37:21 AM
I haven't forgotten 2000-2003 either.
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nikoschopen
2,824 posts
msg #62055
- Ignore nikoschopen |
5/2/2008 10:27:28 AM
Karen, do you remember when we were furiously debating about whether CROX was a fad or not? Well, it turned out to be one, but the real point is that the general markets for the most part also act like fads and fads don't go out of fashion overnight.
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