Posted:
#26
With respect to the Market ..Expect it to hold up until MID OCT
Mikey's Corner Part Duo
Posted:
#30
Do you think the commodities (except for oil/natgas) will be along for the ride up? Or do you look for more of a financial/retail/housing centered rally with commodities falling based on a continued stronger dollar?
Today gave me a fvcking headache, thank god there is football on tonight.
Today gave me a fvcking headache, thank god there is football on tonight.
Posted:
#33
I think commodities and oil will kick in at the end of the cycle. If you look at the charts off the low in Jan we have the same kind thing going on there. A Financial near collapse, and then a bounce a retest and a top in May. The commodities and oil bottomed after the fianancials in Jan and topped after . I think this is what we do again and at the end they say see the commodities are saying that the economy is strong. That has been the SOP in this decline. A stair step hit then consoladation for 12 weeks then a hit etc. By later this year and next year they will have nothing to crow about. That is when thing really get hairy on the downside. I am thinking from Feb to Jul of next years is a disaster and the truth is told.
Posted:
#39
It just looks to me that they want the financials higher now to paint a rosey picture short term. This picture will of course be false but in the near term they need to get the shorts off their backs. The relative strength is reestablishing itself and even though I am bearish on this group I don't want to stand in front of it now just because they are sick puppies. The chart looks higher now am I am buying a very small amount for a quicky.
Posted:
#40
The dilemma we are faced with is that the short term market moves are typically contrary to our long term beliefs. I have a high degree of confidence that the problems in the financials will resurface down the road. The problem with that is that everyone agrees with me. That means that the insiders have stock that they must move higher before the decline resumes.
In this trade that is my approach. I'll play the short term up and look to short when thing look better for the group. I think that is happening for alot of groups now.
Trades differ from positions. In a position I will accumulate somehthing..like the QID and DXD because I think in the long run the market is going alot lower. I expect to be in a losing position on those trades for up to 6 months but I have a high degree of confidence that in the long run I will be right.
I invest 90% of my capital position trading. These short term trades like LEH and DAL are quickies with minimum capital invested. They are just trades and in guessing the short term market my degree of confidence is substancially lower.
The biggest weapon that the insiders have against the trader is time. I takes a long time for things to work out. On this site I think people want short term trade and probably do not have the patience to wait for the position trade.
My short term trades I can pull the plug on in a hurry if I think I have misjudged the short term market. I have never pulled the plug on a position
Posted:
#47
In a position short I expect to lose in the short term and win big in the long term I expoect that the trade will go against me and I will be able to add on at a higher price.
A short term trade is just that I expect the trade to win immediately and will have a stop in because it is just a trade.
My confidence on a trade is substancilly lower than a positioin.
A position trade can last for 1 to 2 years. A short term trade 1 to 2 weeks. I allocation only 10% of my funds for short term trades
At this point I am mainly in cash and looking to position short on rallies
Posted:
#48
They are trying to run the shorts on COF with 200 day at 46.66. I think they take this out on a fake breakout. Will be waiting for them above this price at 50 area to short. 200 week is 49.22
The same applies to JCP 200 day is at 40.44 now at 41.82 200 week is at 44 will short there
OK Short COF 50 and JCP at 44
AGAIN these are position shorts
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