are almost always very sharp, and short. My guess is that a successful test of 1122 or 1115, or even 1105 will provide an excellent entry point for establishing new longs. Until then, rallies will fail.
Among many other things, I confess that I have not listened one bit to the democratic hopefuls. I can say though that previously I have found Kerry to be at least intriguing. Re: the market activity today, when I left the office around 2:15 today the Dow was up ~20 points. I'm just sitting down to check the charts and I see the day finished out a bit down, huh? In my mind, it seems we must have taken out about 5-7 days worth of lows. Thanks for the tip on the oceanfront property. And good job on the call. The important thing is that you cause a lot of members to focus on the condition of the market and it's seemingly extended state. I mean Larry Connors has been saying 1150 for months, so it's no surprise. But great job on the awareness factor James.
Thanks Inandlong. Larry Connors, whomever he is, is a smart man. It wasn't hard for me to take 1500 and subtract 800 = 700 point decline. Then I factored 50% retracement and, bingo 1150! The timing of my latest quest for market top awareness was for the express purpose of preceeding a day like tihis. It's time for volatility to pick up, and so my volatility on ET picked up as a leading indicator!
James Stock---Good job with the short. If you really have the amount you say, then it was one heck of a day for you. Congratulations.
So much for not raising rates in an election year! Anyone want to bet that this move was totally orchestrated in anticipation of the G7 meeting on Feb. 7th and the need for a stronger dollar? I think so!
Thanks Volume. I believe the 1200 calls will expire worthless, and I've always had a strong notion that this would be the case.
Those Feb 1200 calls are as worthless as all the crying on the "stop these threads" thread today! And may I say that it's no surprise who's doing much of the crying. Didn't I make a gentlemans bet with a few people here about wednesday's market direction? Shouldn't I be getting a few acknowledgments? Am I not dealing with gentlemen around here?
James, I dont think u really understand. No one cares that much. That is because noone believes your calls or even truly believes you really trade. And even if you are for real, you capitalizing on your "correct" calls in the worst possible way. I think I speak for most ppl on this forum when I say that noone really cares bout ur self proclaimed success. You've made yourself to be a joke with your arguments about the limited risk and unlimited reward of writing naked calls.