One of the bigger discounts to cash on the close that we have seen in quite some time! Trading and closing below S1 at 1148.70 was certainly Bearish. TXN now the focus afterhours.
raising guidance once again after having raised guidance just 6 weeks ago. TI's DSP's going into color screen phones, etc.
Waggie just keep on chearleading the market. Give the bulls some hope. Most of your posts are either reporting positive news.. or bashing shorts. --MIKE
Trend Fader, he does it because they are so gullible. I've yet to see one of these "the sky is falling" alarmists provide any credible detailed analysis backing his position.
I am already on record saying that I am bullish as long as 1142 in the SPX is not taken out. I also indicated at the beginning of this thread that taking out the S1 today was BEARISH. Unlike you, I actually add a little bit of value to ET by sharing some of my methodology with other members. All you do is tell everyone ( after the fact ) that you shorted some IWM up at 120.00 - - - Do you ever post anything that gives ET members an idea as to what triggers you into a position? You have already gone on record saying that you don't use cute little charts . . . so most members really have no idea what you use. Yawn . . .
"I do not trade based on simple patterns or cute little charts. My trading is soley based on figuring out the tape and forming the right short term bias on the market for the next few days and weeks.." Quote from Trend Fader, 02/18/04
uh-oh, looks like we're about to get into one of those pissing contests that ET is famous for !!! lets get ready to RRRRRRRRumble!!!
Guys- I've been holding about a score and change of smh common shorts for a few months now. Also bought a few hundred of the 38 QQQ long dated puts. Last week, I bought a few hundred long dated SMH 40 puts and really pressed it on friday. Today I doubled up that position and added mostly in the Apr 40 area and some March 40 for deltas. I added it all on the open. Also added some NVLS and INTC common on the short side and spruced up a few other shorts. Also added a smidge more silver, but i'm so overloaded from last summer that I really can't hold more (even though I really want to!!!) Call it a gut feel, but the dollar has topped out on this bounce. Gold/silver have bottomed. Semis have topped and will drop 30% in the next 6 weeks from all the hot money and the sp will drop 10% during the next 2 months. I have no real rationalle on this, but 40 on the SMH and 36 on QQQ were key levels I was watching. Techs led this market up. For 3 months, they've been unable to hunt, even while the broader market made new highs. Now semis are breaking, I think that they'll lead things right back down. Comments? Good luck.