Bears had their chance

newbunch · Aug 30, 2005

Quote from Arnie:

Save one, I bet there is isn't one poster on this thread that is profitable this year. Am I right?

I'm up 14.9% this year. But you probably won't believe me.... In that case, I'm up 1,000%.

newbunch · Aug 30, 2005

Quote from Chagi:

I'm not sure that I agree, specifically where the Nasdaq (QQQQs) are concerned. If you take a look at a 6 month chart, I see two 50% retraces since the current mid-term uptrend began late April 2005.

My call would be to see QQQQs trading around $42 by early October.

I trade the SPX and not the Qs. However, the QQQQ looks weak to me as well. Check out that major bearish MACD divergence! I hadn't noticed that until now (I don't watch it). Thanks for pointing it out. Now I'm even more bearish.

stock777 · Aug 30, 2005

Quote from newbunch:

1776? What data do you have prior to 1792?

Franklins personal trading records, mostly sheep and watch fobs.

drukes1234 · Aug 30, 2005

Ok.. well today's action made me exit my Long position in the russell with very little profit. My setup didn't complete, therefore, I was wrong. I transferred out of the Russell and am now heavily long Apple from this morning.

My question for you bears--which stocks do you feel are good candidates for shorts right now? I would like to be market neutral.

Thanks

protrader-2K5 · Aug 30, 2005

construction

raw material

alternative energy

wild card: refiners.

But I don't trade stocks so really my 2 cents is worth maybe 1.

newbunch · Aug 30, 2005

Quote from drukes1234:

Ok.. well today's action made me exit my Long position in the russell with very little profit. My setup didn't complete, therefore, I was wrong. I transferred out of the Russell and am now heavily long Apple from this morning.

My question for you bears--which stocks do you feel are good candidates for shorts right now? I would like to be market neutral.

Thanks

Only trade the S&P 500. Why take chances if you are bearish? Just short everything!

drukes1234 · Aug 30, 2005

I never said I was bearish--I took a big long position in Apple at the beginning of the day. Having said that, I'd like at this point to be market neutral.

newbunch · Aug 30, 2005

Quote from drukes1234:

I never said I was bearish--I took a big long position in Apple at the beginning of the day. Having said that, I'd like at this point to be market neutral.

So you think Apple will outperform the market? So buy Apple and short the market.

If you want to develop a market-neutral trading system, do it. Don't look for stock tips on ET.

With regard to stock tips:
"It is not so much greed made blind by eagerness as it is hope bandaged by the unwillingness to do any thinking." Reminiscences of a Stock Operator

AAAintheBeltway · Aug 30, 2005

Today has to be somewhat disappointing to the bears. They managed to reverse yesterday but couldn't close the deal, and took a pounding the last hour.

MacroEvent · Aug 30, 2005

Quote from AAAintheBeltway:

Today has to be somewhat disappointing to the bears. They managed to reverse yesterday but couldn't close the deal, and took a pounding the last hour.

actually they are cycling positions in and out now {last two weeks} with the ability to get better pricing after the liquidity pumper pushes from the institutions. yesterday I could see they just stayed out of the way all the way up --- the institutions had unencumbered ability to push price --- no resistance from the hedgies until we hit the end of day {then they started to get in for the overnight session --- and that worked perfect}. end of day today was just about the same ---- and some size has come in again grinding down the start of the overnight session.

hedgies are putting their oil trade profits to work more selectively {thus more efficient} as they pick their timing for shorting the s&p contracts. there are some definite patterns at work here in my opinion.