Late rallies rouse suspicions CBS.MarketWatch.com

BTW also did you read this "Company attorney admits involvement of central banks in manipulating price of gold. "
http://www.elitetrader.com/vb/showthread.php?s=&threadid=23780
This is legal event you know...

Quote from harrytrader:

Oh yeah ? there is no right to talk about the PPT :D. Then there are two other guys who did so on Friday of they are bastard conspirators then according to you. And CBS shouldn't even write an article about that, you should write to them to complain about that, why don't you :D

And calmos Alabamos also - as would say a friend of mine - since I said that I agree with short covering, why do you seem so nervous :).

P.S.: you know what, the more you get on nerve about that, the more you should listen about that, that's the only way to get rid of your fear and/or nervosity. So I will continue on PPT. Isn't that an interesting subject no - at least for fun :D ?
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Quote from harrytrader:

Oh yeah ? there is no right to talk about the PPT :D. Then there are two other guys who did so on Friday of they are bastard conspirators then according to you. And CBS shouldn't even write an article about that, you should write to them to complain about that, why don't you :D

And calmos Alabamos also - as would say a friend of mine - since I said that I agree with short covering, why do you seem so nervous :).

P.S.: you know what, the more you get on nerve about that, the more you should listen about that, that's the only way to get rid of your fear and/or nervosity. So I will continue on PPT. Isn't that an interesting subject no - at least for fun :D ?
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You seem considerably more nervous than I do.

And there is no such word as "nervosity".
 
Quote from white17:

harrytrader;

I believe "literacy" has only one "T"
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:D You have to wonder: if Harry is as great a trader as he likes to believe he is, why can't he afford a dictionary?
 
Quote from Ken_DTU:

technically, what's curious to me is that almost every market open this past week started with a gap..

usually there's a mix of intrarange opens and maybe 1-2 gap opens per week, this past week has had almost all minor gap opens..

http://bigcharts.marketwatch.com/qu...symb=nasdaq&sid=0&o_symb=nasdaq&freq=7&time=3

there's not really any explanation, just, it's a curious technical event..


ken
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It's that time of year. What with events in Japan, earnings warnings, caution in guidance from such as MSFT, the fact that so many reports and releases are now made pre- and post-market, and that valuations are so high, this week should not have come as a surprise. Our meeting resistance may have had something to do with it, but an anti-chartist could find explanations in the news if he so desired.
 
I would have to agree that fridays rally was no more than a short covering spike. I was short, and man did i get covered, in all kinds of bids against me, lol. I got out on the first leg, i couldnt begin to think what my P&L would have looked like if i shorted the second spike up or held on to my shorts.

IMHO, we failed to break the 1015 mark. we attempt a few moves but could only get to 1016.25 as a low.

Also, the Sox was acting up, and it could not break 448.72.

Msft looked like it would flush midday, but it couldnt break lower near bond closing.

It appeared, in hindsight that we made a W bottom around 14:00 and once we got back up above 1021....around that area...shorts got nervous.

A classic shortcovering move. QCOM took off like a bat out of hell, that was my only long in that rally.

But, i dont think it was anything more more shortcovering.
 
It also helps to keep the Japanese notion of "3" in the back of your mind. It's not a lock, but keep it somewhere that it can be retrieved: 3 days down, 3 gaps down, and a Friday afternoon. What are the odds?

This "3" business, by the way, is the same dynamic as "waves" and the H&S pattern.
 
Quote from dbphoenix:

It also helps to keep the Japanese notion of "3" in the back of your mind. It's not a lock, but keep it somewhere that it can be retrieved: 3 days down, 3 gaps down, and a Friday afternoon. What are the odds?
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Fading 3 gap/directional days was a favorite Rich Dennis play. Doesn't occur as many times in futures as it does in individual stocks. I'd love to see some backtested data.
 
So harrytrader was that THE bottom?

MSFT was beat up pretty badly on friday. microsoft can drag whole sector down, technology goes down it will drag Nasdaq down, without Nasdaq there is no rally.
just my opinion do not trade base on my opinion but I am wondering if it was the bottom or jut bounce.
 
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