Just some Charts to look at.

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08-31-2009, 09:36 AM
Siriusowner

Quote:

Originally Posted by Big Ben

Is anyone watching these markets? It getting pretty crazy out there. Apple, FCX, NYX, RIMM, XTO, BP, BAC....all down 1-3% premarket....I not a rocket scientist but I think profit takers are heading for the exits. ? For anyone who watches Asian markets....lead story on yahoo is 6% hit for Chinas main index...my graph is not showing that..2% hit. FYI my watch list has 32 stocks and all 5 leaders on nice volume are shorts of China, Banks, DOW and S&P. I need to check SIRI level II, whats going on there?

This open should get interesing I would keep my hands off until 9:45, MMs can really mess with stocks on the open. GLA

I do not see how at this point the market will retrace 50%. However, I will begin to worry if the market retraces 25% without a blink. I am hedged but I am bullish skewed.
08-31-2009, 10:04 AM
relmor2003

Quote:

Originally Posted by Siriusowner

That's a pennant with a pole (or a flag with a pole). Let's see who is really a trader as some claim here to be... is it bullish or bearish?... why ?

I know the answer. Your a fag with NO pole.
08-31-2009, 03:05 PM
Siriusowner

Quote:

Originally Posted by relmor2003

I know the answer. Your a fag with NO pole.

Evidently you do not know the answer.

BTW, if I am a fag, most likely you are one too.
09-01-2009, 02:22 AM
relmor2003

Quote:

Originally Posted by Siriusowner

Evidently you do not know the answer.

BTW, if I am a fag, most likely you are one too.

O dude Im sorry. I thought you were just being an obnoxious twit, did you have a question for me? Sorry about that.
09-01-2009, 07:50 AM
Dr. Dave

Quote:

Originally Posted by Big Ben

Markets are about to get cranked. The bears are going to make the buy and hold crowd test their fortitude. I hope the general investor remembers that March 6th was the low and we have done nothing but climb ever since. Markets don't work that way, up and down they go. This market is so over cooked its scary. I was calling for down 6300 before dow 9000, I was very wrong on that one....does not really matter when your holding all cash. I started a position in BAC, XLF, C on Friday only to hedge my short positions, FXP, DOG, FAZ. I fully understand I am chasing the tape on those plays, the first three. Five years out BAC, C, F will be fine but in the short run I have a hunch I will be dollar cost averaging on those plays. I also sold my last 5k of siri on Friday for .7c. I am waiting on the pull back or a market crash...call it what ever you want. We will see the .5 handle again, don't get it twisted there is still an enormous short interest out there, but I do agree with Obone, Relmor, this stock is trading different and the shorts are not in control anymore. I believe the big short squeeze has not happened yet, that will be the payday with this pig, not .55-.77 in a week....that is free cash to any takers. GLA. Shave all positions with a gain or be the ahole left holding the bag. I have a hunch wall street is going to make main street remember this game is for the pros and you can and will lose principal.

Big Ben the Bear!

Instead of going long FAZ when you think the market is heading down, short FAS, and vice versa - you'll generally fare better, same for the rest of the leverged funds.
09-01-2009, 08:19 AM
relmor2003

Quote:

Originally Posted by Dr. Dave

Instead of going long FAZ when you think the market is heading down, short FAS, and vice versa - you'll generally fare better, same for the rest of the leverged funds.

Que?

Que?
09-01-2009, 09:07 AM
Big Ben

Are you out there Relmor, in Relmor land? I have not looked at anything but CNBC and FBC, while I was brushing, does not look good in the futures any thoughts on SIRI...I sold out last week .77 and .7..I am looking to enter but I feel the whole shebang is slipping.

Big Ben
09-01-2009, 09:20 AM
toxdoc

Quote:

Originally Posted by Siriusowner

That's a pennant with a pole (or a flag with a pole). Let's see who is really a trader as some claim here to be... is it bullish or bearish?... why ?

Well, I never claimed to be a trader so I don't have a lot of knowledge regarding chart patterns and things like that. However, from what I've read, this looks like a bullish pennant to me. The pole was formed on good volume followed by some consolidation on some weaker volume. This should indicate another move up in the short term. I'd appreciate any constructive comments from those more knowledgeable on this stuff that I. Always looking to learn more
09-01-2009, 06:06 PM
Dr. Dave

Quote:

Originally Posted by toxdoc

Well, I never claimed to be a trader so I don't have a lot of knowledge regarding chart patterns and things like that. However, from what I've read, this looks like a bullish pennant to me. The pole was formed on good volume followed by some consolidation on some weaker volume. This should indicate another move up in the short term. I'd appreciate any constructive comments from those more knowledgeable on this stuff that I. Always looking to learn more

You got it as far as I'm concerned, pretty much all I do is pattern/TA trade - I do little to no DD other than that. I got a tip on SIRI when it was $4. I didn't take any trades, until I was alerted by an email to take a more recent look in april, played the same pattern and sold at 0.62, then saw a bunch of other bullish patterns, so I got back in right after that... but I take support and resistance more important than patterns, and patterns more important than indicators... so even though the pattern is bullish today, it sits on multiple forms of resistance... so if I did not have a position, there is no way I would start a new one *today*, based on that pattern.
09-01-2009, 06:11 PM
Dr. Dave

Quote:

Originally Posted by relmor2003

Que?

Que?

LOL, my car battery is dead, gotta go take care of it, the explanations are a little lengthy. There are two reasons not to mess with these funds, and one holds water on why to go short, and the other may too. I discussed the second point with a pro trader on his blog, though he didn't respond to my comments, just the others, so if I find the link before my ride comes, I'll post it.

Also - for a day trade or 1-3 day position, long or short doesn't really matter, its when your horizon is a few weeks plus, then I'd rather go short. I pretty much quit playing these a while back before I looked into shorting these, but I may take another look. Actually, there is a third reason too on some of these ETFs (not necessarily double leveraged) and that's dilution - or the effect they have on the underlying - like those tracking commodities like UNG.

I'll be back later, and of course, it's just my opinion.

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