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Entered the QQQs trade well, did not exit with profit. Really thought the market had 2-3 days bounce in it. This suggests to me stockholders are in a race to unload the boat and may produce a climax selling soon. WCOM news may help to this end. Gonna take a point or so hit on it. SMH trade...

Long JNJ @ 54.83

Sold SMH @ 31.32 + .98

But the Nasdaq 100 was 7/3 ratio in favor of advancers,very good if you are long, vol ratio was 8.5/5 up/down. And the Semis were just as well, except for certain segments, like memory. SP500 was about 1/1.

any broker should be able to execute an options trade. Usually, you have to have sign an options permission form.

Unimpressive internals today, actually bad. Decliners far outpaced advancers across the board, unless my data is off. Still holding all positions, but the selloff this afternoon is making me uneasy.

Yeah Lundy it is cool and I am way green for it and had said in my thread that there was a good likelihood for a bounce today. With the exception of my SMH call trade- which I entered as the market declined this morning because the Semis were showing good RS - I let price be my trigger...

Long SMH @30.34

Long QQQs 25.74.

Lundy, If you are calculating Fibonacci dates, the Sept 11 week should not throw you off so much, as you should be using other time periods as well. These fib dates are zones, not precise to the day, and only have a better than 50-50 probability when there are different time frames converging on...

long SMH July 32.5 calls @ 1.05

The Nasdaq Composite is now back at the monthly uptrend line established in 1992-1995. In October 2001 price returned to this trendline, and price coincided with the lows of 1998. A steeper monthly trendline on the Comp established 1996-1998 was breached in early 2001 with no bounce at all...

You can make all the predictions that you want, based on anything. There are a number of reasons to expect the Naz to take a bounce now, or even make an intermediate trend reversal. There are a number of reasons to expect further downside as well. The risk/reward for making a...

Lundy, we all make trades that are contrary, and we all watch for expected pivots. What most of us do not do is point to the chart and announce this will be THE pivot day and then load up the boat willy nilly. I don't mind missing the first part of the move in order to have greater confidence...

Covered QQQs 26.13 -. 06

How can you be 100% sure, next week and thereafter has not occurred yet?

Well, I was thinking that it may take out the days lows and hit 25.50- 25.60, and that the Naz Comp would breach 1450 and not recover but so far the Comp has been hugging 1450 today. I am not planning on taking the position home, win or lose. Naz seems stretched to the downside, and some...

Can't explain EXPE now. Don't know. Short 500 QQQs @26.07, not too certain on this, will give it 26.30 stop.

Posting While Intoxicated.

Cover SMH short 31.60 + 1.74