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Post by trading4dough on Mar 17, 2010 14:01:40 GMT -5
Buy the dip when we get it
Buy every dip til the channel breaks
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Post by timber on Mar 17, 2010 14:03:10 GMT -5
yes i agree td4...exactly my plan
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Post by elkuta0380 on Mar 17, 2010 14:03:35 GMT -5
I would not be going short yet. Still not enough volume came in for this to be a top yet imo. If I missed FAZ, so be it! But still waiting patiently. Brosin, I think the selloff we are seeing now will be similar in style to that of feb 22-25. We've got another leg up, i think, before a top should be noticeable (high volume and such). Another 2-3 weeks out.
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Post by brosin on Mar 17, 2010 14:04:26 GMT -5
I would not be going short yet. Still not enough volume came in for this to be a top yet imo. If I missed FAZ, so be it! But still waiting patiently. Brosin, I think the selloff we are seeing now will be similar in style to that of feb 22-25. We've got another leg up, i think, before a top should be noticeable (high volume and such). Another 2-3 weeks out. I can definitely see that Elkuta. I am usually early as if it were my job, usually only by a few days to a week though. So if I did buy FAZ today or tomorrow, that'd put a top in sometime by next week - I call it the Bros Gameplan lol. Buy the dip when we get it Buy every dip til the channel breaks Hey bud, you sell the bear funds today from yesterday or are you adding on pops?
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Post by ml on Mar 17, 2010 14:07:04 GMT -5
still think FAS will hit 92? TIA
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Post by hammondkeys on Mar 17, 2010 14:10:41 GMT -5
Channel that set up over the last 2+ days seemed to catch that dip. I am looking to sell on a touch on the first of the two large top lines - around 98-100 seems likely today or tomorrow. Stops are in with a little slack under the 2 day support line. The lower line should be support until this leg is done. So, the chart is a very small channel inside a 2+day channel that runs to possibly the top of a much longer channel that started in the low 60's. Attachments:
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Post by brosin on Mar 17, 2010 14:21:25 GMT -5
Red close would make things quite interesting. Pushing the envelope here. Volatility has picked up as well (volatility is highest at inflection points). Still don't think the volume at the HOD signals reversal, but we will see.
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Post by drtracyb on Mar 17, 2010 14:24:18 GMT -5
I have a lot of "friends" here and wouldn't like to make implications that cloud what the shorter term trading landscape looks like since most here are traders. As mentioned, though, I always appreciate your insight Hammond. Thanks and GL I think that is the main difference. HK speaks in long term, most of the people in the board are speaking in the short term. Truthfully, as I was inputting everything I sold last year into my taxes, I was thinking that if I had held on to just one of those stupid securities that I sold in February and March last year, I'd be a lot richer and wouldn't be burning my eyes out staring at pennies now. His argument is compelling.
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Post by trading4dough on Mar 17, 2010 14:31:04 GMT -5
Long term yes Hammond is bang on.............. I agree 100% with the thought
I lightened up on lots of longs today with the expectation of a dip
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Post by brosin on Mar 17, 2010 14:33:08 GMT -5
T: Curious... Buy the dip when we get it Buy every dip til the channel breaks Hey bud, you sell the bear funds today from yesterday or are you adding on pops? I'm looking at FAZ entry points which is why I'm wondering how you're playing it.. thanks.
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Post by trading4dough on Mar 17, 2010 14:36:26 GMT -5
Bear funds are a buy in my book
I have been lightening longs and buying Bear efts all afternoon
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Post by benvestor on Mar 17, 2010 14:37:16 GMT -5
Wow 50 point loss in under an hour.. there goes my bull call!!
WATCH OUT FOR HEALTHCARE!!
OR THE RESISTANCE LINE BEING CROSSED IS FREAKING PPL OUT
lol..
either way we still have quadruple witching tomorrow!!
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Post by trading4dough on Mar 17, 2010 14:38:36 GMT -5
Die Die Die Die
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Post by benvestor on Mar 17, 2010 14:40:39 GMT -5
I mean friday...
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Post by brosin on Mar 17, 2010 14:40:43 GMT -5
Bear funds are a buy in my book I have been lightening longs and buying Bear efts all afternoon But what did you do about the bear funds you bought yesterday afternoon for FOMC? You're adding to them I'm guessing?
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Post by torrentio1 on Mar 17, 2010 14:41:32 GMT -5
I would not be going short yet. Still not enough volume came in for this to be a top yet imo. If I missed FAZ, so be it! But still waiting patiently. Brosin, I think the selloff we are seeing now will be similar in style to that of feb 22-25. We've got another leg up, i think, before a top should be noticeable (high volume and such). Another 2-3 weeks out. Still very preliminary with no impact on my bias until review of ALL the charts BUT what I see today is potential added resistance in banks as suggested by the Philadelphia Bank Index Daily LT Chart
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Post by timber on Mar 17, 2010 14:47:25 GMT -5
why take the chance find some good stocks and buy them like s
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Post by trading4dough on Mar 17, 2010 14:47:33 GMT -5
Yeah I added to them Bros
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Post by brosin on Mar 17, 2010 15:04:38 GMT -5
Gotcha bud. I will be joining you shortly - got any max pain numbers for FAZ I should be aware of? Tentatively watching for low $13s.
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Post by brosin on Mar 17, 2010 15:05:46 GMT -5
why take the chance find some good stocks and buy them like s Sorry I am not really in a buying mood for high beta stuff. We are at lofty levels for this trading cycle. Not to say we won't stay lofty for a little longer. Starting to see next week as the top, which has been a slight divergence from the FOMC gameplan. Maybe they know we're on to them
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Post by torrentio1 on Mar 17, 2010 15:56:19 GMT -5
Brosin, I think the selloff we are seeing now will be similar in style to that of feb 22-25. We've got another leg up, i think, before a top should be noticeable (high volume and such). Another 2-3 weeks out. Still very preliminary with no impact on my bias until review of ALL the charts BUT what I see today is potential added resistance in banks as suggested by the Philadelphia Bank Index Daily LT ChartAs well we see some potential added resistance in techs as suggested by the RITEC Hourly ChartIn fact, it was in RITEC I first saw the selling commence...
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