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<< I suspect you may have missed my welcome in your thread, but not to worry. >>
Didn't miss it, Spike; thanks for your welcome.
Didn't miss it, Spike; thanks for your welcome.
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Last edited by Guest; 01-04-2006, 02:39 PM. -
I smell a bear . . .
Yep. Everybody had a week off from the pits. Went home and enjoyed the family and the time off from the battle. Examined a few charts, and came back quite enthused yesterday. Some of the euphoria even held over until today. But I'll tell you I smell a bear. I don't know exactly where that thing is at, but I sure do smell a bear . . . .Originally posted by spikefaderComment
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lol yup, didn't they! Some say it was merely short covering. I dunno about that. That long term green INDU line has been pierced 6 times now, today being the latest. Price has closed OVER the line 7 days out of the 16 it's been up here. Yesterday's very very bulllish candle closed just short of it, and today it has a good chance to close over it again. Distinct bull flag look about the DOW, and a break above that flag would make bears gulp and sweat and poop 'emselves I think. The first hour candle of today closed above it. I see 5 waves up over the last 2 days, with a little abc there, the 'c' long for INDU being that 10841.20 10 minute candle low. If INDU trades over 10867 that will be 'c' long being bought with a breakout over that long term 5 year trend line. That my friend should be the last straw. Rally from there. If 10840 fails today, expect the bear to bite. We be at crunch time people!Originally posted by New-born baby
I'm holding my swing long, stop to even.Comment
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Ccj
Spike, er, I mean, Mr Market
CCJ has been crazy bullish. My thinking is that CCJ needs to pullback, and I am thinking of selling the $12.00 Jan 2007 $70 calls, letting the stock pullback some, and then buying the stock to cover. Stupid? What sayest thou?Comment
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You might be gambling.Originally posted by New-born babySpike, er, I mean, Mr Market
CCJ has been crazy bullish. My thinking is that CCJ needs to pullback, and I am thinking of selling the $12.00 Jan 2007 $70 calls, letting the stock pullback some, and then buying the stock to cover. Stupid? What sayest thou?THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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lol ya.Originally posted by New-born babySpike, er, I mean, Mr Market
CCJ has been crazy bullish. My thinking is that CCJ needs to pullback, and I am thinking of selling the $12.00 Jan 2007 $70 calls, letting the stock pullback some, and then buying the stock to cover. Stupid? What sayest thou?
I looked at the weekly and said 'wow'. lol There are better plays in my opinion, BUT it's possible to do OK if you time it right....but timing has to be perfect. You're the expert with selling calls and I'd look with interest at the play. It's booming on the weekly and the daily, and booming nicely. BUT you could go for a 5th impulse completion on the daily (I think it has one little impulse up left, and currently in a 3). But take a booming stock for what it is; ignoring channels.... and I'm still very bullish on the market right now so I say caution when you do it. You want a good entry. I see those gaps down there on light volume which is supportive of a decent correction in the next few weeks.... Good luck with it!Comment
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Any update to MCX chart?
Hey Spike,
Great call yesterday on those futures long...
Tell me, I am trying to follow this MCX (as I hold some) closesly. It seems like it is still on the "1" of the new pattern, as there has not been any kind of a pullback. When there is a pullback, where do you think (based on todays close) will the "2" takes us down to before "3" should resume up?
Still learning.... all ears...Comment
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