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Technical Analysis with chessNwine

chessNwine
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Joined Apr 1, 2010
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chessNwine Thu Oct 16, 2014 10:10am EST 9 Comments

smith

We saw another gap down this morning, with dip-buyers giving it a try for a red-to-green reversal as we speak.

Small caps are outperforming again, albeit still in the red. And Netflix is getting just as decimated as it was last night.

I am still sitting in just about all cash, with no equity longs or shorts. If bulls lose they grip on the bounce today I may make a move with a cowboy short or two, pressing for a crash.

Otherwise, we have a sloppy bounce attempt on our hands where cash and patience are kings.

Stay cool and don’t let this market put you on tilt.

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9 comments

  1. David
    David
    October 16, 2014 at 10:13 am

    Tell me you don’t want a crash, Chess.

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  2. ajr
    ajr
    October 16, 2014 at 10:15 am

    sloppy bunco sounds dirty, chess.

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  3. UndeadBear
    UndeadBear
    October 16, 2014 at 10:20 am

    Yeehaw

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  4. iwasrobbed
    iwasrobbed
    October 16, 2014 at 10:31 am

    Thanks Chess. Any thoughts on puts around momo ERs? If we end up in a deeper correction or even crash scenario, it could be interesting.

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