It’s a swan dive.
Which post do you want me to bring you back to?
….Last Thursday’s miracle rally was a short term bull trap, and I’m disappointed that many people failed to realize that. It’s difficult to determine how much lower the market will go, but being under 8,000 is not fun. I myself don’t like it.
If you want an illustration for what our market is like, then read up on my post about “Sisyphus Rallies.” How many times have the bulls rolled the boulder up, only to get smashed by it when their energy runs out? Case in point… today.
Last night, I was discussing with Mac @ chartswingtrader.com that even IBD refused to notch yesterday’s rally as a follow-through day. Thank goodness. Then Danny’s LoBV charts as of yesterday’s close clearly showed that it still wasn’t ready to go long. Bottom line, bulls are Sisyphean, and the slope is slippery. I will wait for a better entry point around Vix 80 to get long, but more importantly I will wait for quadruple-witching day near mid-December (that’s where volume should pick up). I suspect volume will slow down as we head into next week.
Anyway, for those of you who followed me on Twitter, I made this day trade while posting the “300” video over and over once the Dow hit -300. Long EEV @ 106 and 103 near the close…
And Aloha to my new Twitterificaliciously new pals…
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jworthy | |
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plasmahidef / Anish 
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stepantstring | |
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SSTURN | |
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redstarvip / Ruben Harris | |
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chuckb74 | |
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stephen_henault / stephen henault | |
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TopProsTopPicks / Money Show Investing | |
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dealsaddict | |
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fortune8
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jewdpac
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You are now following jworthy 
I posted this earlier, thought you’d like.
Sisyphean boulder?
http://www.youtube.com/watch?v=FYhDu1UzLSs
Oh snap! LOL. Good one. If that video were words, then that described our market so eloquently.
http://www.liveleak.com/view?i=2f0_1181243765
Scum… off roading is popular among the locals here. my friends do that stuff every weekend + ATV.
my friend from Maui flipped his 4runner sideways. oops.
Hi Gio,
TGT helping drag down JPM too, or just coincidence?
Thanks for the twitteriffic shout-out.
hey GIO, I bought MSFT calls at MSFT 18.85, then it shot up to 19.24 and I noticed on my day trading chart, I’d make some money by buying puts on it intraday—well, thank goodness I went both ways on that —cause now I get the profits on the puts, and when the calls rally, I get my money back on the calls.
Is this twitter any good? __ Is it like Disqus?
When you going to get Disqus? I have it installed on my WP site. just used the Disqus WP plugin and unzipped it at the webhost site—
Scum bucket I ain’t touching JPM, till I see $24= 100% fib extension
zee, nothing i write should be construed as investment advice and i certainly never implied anyone should go long any of the financials. imo they are all bk, $2 stocks, or socialist tittie babies. we’ve been talking about TGT, they recently sold half their (crappy) credit card portfolio to JPM after receiving decent advice from a hedge hog investor. It is the end of times, B careful.
Hey GIO–I signed up for twitter
just go to “zstock” or whatever–DAE42 is already following me, so just go to his twitter page, and ping over to my site–
http://www.nytimes.com/2008/11/19/business/economy/19ports.html?_r=2&ref=business
hi Z… yay for joining twitter. its better than disqus, in that i can update from my blackberry. wait, i don’t know if that’s a good thing.