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To be accurate, absolute "support" would be 0. However, in the chat room today, I wondered aloud if the market could go below 0, and, if it did, would all longs become shorts and all shorts become longs? In such a scenario would one large loss multiplied by another large loss become a huge gain...

I just read an analyst firm's explanation of their buy recommendation on DRYS. The stock is trading at a P/E of 1. They just announced new acquisition of additional fleet as well as additional drillships. If they liquidated ONLY their drillships now, the resulting cash would equate to $30/share...

I'm an intellectual stunt double. If you're at a party talking it up and you gradually slide from astoundingly cerebral to falling down drunk, I will fill in for you.

If you're a long term investor and you're invested in fundamentally sound companies that have pulled back in a bear market, just give it a few years for recovery. We made our first stock investments in our IRAs back in 2000. We never knew what a serious drawdown there was in the accounts during...

MA makes money on credit card transactions; they don't carry consumer debt. They would stand to lose money if credit card transactions decline, which is a strong possibility with credit cards getting maxed out, people doing less shopping, buying less gas because they're riding their bikes, etc...

Perhaps Warren Buffet will buy Wall Street. I heard it's available at a bargain price. :eek:

I have always like FRO and in fact held it through thick and thin for many years in IRA accounts. Sold it at $70 this year, near the top, and am considering buying it again, once the market finds something resembling a shred of rationality. It pays a great dividend, too.

- $158 Leaving town for a few days, best of trading to all. See you again on Tuesday!

- $158 Did not trade yesterday. Went long DVA today when it bounced off a major low. Should have waited for the stochastic crossover to get best price, but still not bad @ 54.24. Set stop @ 53.94, which allegedly got hit even though the LOD was 53.95. And of course it rallied after that...

No trades today. Played a lot of guitar while watching charts though :cool:

As someone mentioned earlier in the thread, the first bottom (or first top) is usually not the lowest bottom (or highest top). A slightly higher bottom after what then becomes the low of the day is generally a strong buy signal; set your stop just below the LOD. (Opposite for shorting - a...

- $4110 Bought MOS on oversold indicator (but not my preferred failure to make a new low, which was a mistake). It ranged around a bit a few cents around my price, then tanked hard and took me out with huge slippage. I set what I thought was an impossible to hit stop on my MA call position...

- $4110 First MOS bit me with $1/share slippage! Then couldn't short ESRX (it's on the no-short list now). Then I placed an "impossible" stop on my MA call position (in case the vote turned out badly) and damn if it wasn't hit, then rebounded stronger than any of the other stocks...

MA is great for intraday longs and shorts, because it moves in such large chunks ($5-$30 moves).

As was mentioned, MA does not carry debt, but they were downgraded recently by S&P to a "Hold", which in a bear market seems to be a kiss of death :eek: Also, MA was certain to test new lows Friday once the bailout plan fell apart Thursday, because a free-flowing credit market is crucial to...

Mad, I agree that especially in current market conditions shorts seem a safer bet. Stocks almost always drop at least twice as fast as they rally, because fear is stronger than greed. However, I've noticed a lot of your short signals lately are on stocks that are hitting new highs against...

You're welcome! I'm trying to reach the point of not repeating my stupid mistakes. Three months of consistency and I'll regain a sense of high hopes :p

Did not day trade Friday. Holding another small MA call position over the weekend, figuring any bailout news next week would be to their benefit and they do move in chunks, hopefully chunking in my favor on Monday :p There's a typo on my MA chart from Thursday's trade. I closed the position...

For the record: I've asked 1Halt, er...uh, 1Reason to please buy some shares of NVAX on my behalf so trading would be halted and a major buyout announced causing the stock to quadruple in value :p 1R, you are such a consistently profitable trader, this month of trades that conspired against...

It's not something you can master, because it's used in tandem with other factors (support/resistance, market and sector trends, volume, etc.). But I've found it to be a great help with entries and exits.