Comments on: Wednesday’s Trading

By: junglegirl

junglegirl — Thu, 08 Jan 2009 02:18:55 +0000

My sweatshirt. Over and out.

By: newbie

newbie — Thu, 08 Jan 2009 01:29:51 +0000

JG, Did you take anything off today?

By: junglegirl

junglegirl — Thu, 08 Jan 2009 01:22:03 +0000

newbie… yes, and sleeping very well.

By: newbie

newbie — Thu, 08 Jan 2009 01:14:43 +0000

JG, I presume you are still holding shorts? I still have 1/3 of my SKF and SPY positions.

By: K

Wed, 07 Jan 2009 23:55:13 +0000

hey guys i just made a bet with a friend TBV below $2 on EOD January 30, 2009.

what do you think.

bet is for $1 but he said he’s gonna buy some tomorrow and on my indicators this is SUPER EXTREMELY OVERBOUGHT

By: Danny

Danny — Wed, 07 Jan 2009 22:57:28 +0000

Same here Matt, I shorted at 900 and pyramided up hard, incidentally, something I usually don’t do.

I really am digging the 4:42 comment. That sentiment makes complete sense.

By: David

David — Wed, 07 Jan 2009 22:41:59 +0000

Oh yeah I have a target of 625

By: David

David — Wed, 07 Jan 2009 22:41:30 +0000

Most likely Elliott Wave Count is that we have completed the first wave of wave (5) down and the wave (4) rally is over.

By: junglegirl

junglegirl — Wed, 07 Jan 2009 22:17:17 +0000

Matt,

You took profits at a perfect chart point. I’m not trying to confuse anyone on that. I can’t routinely trade a.m. market action, which necessarily affects how I trade.

That said, I do believe the market is cracking here. I didn’t anticipate the time dilation that occurred in December, but the price projections are still for us to go down hard.

By: admin

admin — Wed, 07 Jan 2009 21:42:47 +0000

junglegirl,

I see what you mean. On December 1st, the market plunged all day. The shorts didn’t even think of taking profits. They, at least “I”, were way overconfident at the time.

That day can be said to have kicked off this rally since it was the bears’ Waterloo because the market snapped right back.

Now we have the opposite situation: Bears too timid to press into the close, which may show that they have room for ego expansion.

Matt