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Post by trading4dough on Sept 3, 2010 15:24:28 GMT -5
different game next week Brosin
however kudos to everyone who banked it this week and made $$$$
im actually happy to see it play this way even though im underwater a bit
bought some real cheap putz at the close for sept opex
will add to tza at 1111 and 1115
round iwm $64.60 and $65.21
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Post by brosin on Sept 3, 2010 15:32:03 GMT -5
You have the people who were skeptical going into Tuesday (65% of the market) - low 1040, close 1049. You have the people who were skeptical going into Wedneday (maybe 70% of mkt) - low 1049, close 1080... You have the people who were skeptical going into Thursday (80% of the market? everyone thought the whiplash pullback was coming) - low 1080, close 1090... You have the people who were skeptical going into today (85-90% of the market, myself included) - low 1093, close 1104... How much of the market do you think is skeptical going into next week? 95%? Doesn't mean they won't headfake it lower Monday or Tues, but with approx 95% by my estimate expecting pullback, what are the chances it happens? 5%? ;D I'm not trying to time this - the market feels even more explosive than I anticipated.
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Post by jack on Sept 3, 2010 15:32:41 GMT -5
different game next week Brosin however kudos to everyone who banked it this week and made $$$$ im actually happy to see it play this way even though im underwater a bit bought some real cheap putz at the close for sept opex will add to tza at 1111 and 1115 round iwm $64.60 and $65.21 I'd be worried being short when Obama rolls out his new tax break programs next week Mr Dough.... btw CNL jumped another 9% today to 6.29 on 359K decent volume www.stockwatch.com/Quote/Detail.aspx?symbol=CNL®ion=CWha-hooooooooooooo!
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Post by trading4dough on Sept 3, 2010 15:48:37 GMT -5
yeah my cbx is waking up as well jack
lets see what happens next week ..................... i think we see heavier volume and lots of sellers early in the week
If you look at the real runners of this market they are all at their 6-18 month channel tops
So its not sustaining right here and right now
1040 was a great buy and 1106-1115 is a great short on this cycle
but i could be wrong ............... i was wrong today
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