thursday DOWN day for djia

based on simple daily candlesticks, thursday 5.29.03 should be a down day for the DJIA. we will see....

best,

surfer

 

I've been in an anti-stock market advance position for over two weeks now. Had been short earlier, but got stopped out. Now I am in the black, but am understanding more and more why Livingstone said he made his money sitting on his hands. Tops, bottoms, they take an inordinately long time to form - my patience is being tried.

 

I went short towards the end of the day yesterday. The positions I held were up a bit today. Hoping to hit my profit target tomorrow.

We'll see ....

 

Does that mean you're dumping your longs, surf?

 

Commercials are still net long in the big Dow and S&P500. Will see this Friday if they've changed their mind, but they've been bullish for the past couple of months.

 

I say gap down, close higher.

 

I sold my net long option position in DNA on Monday, felt too good plus the futures expire in June. Wouldn't surprise me to see a rough couple of weeks and then rocket into July earnings.

 

no

surfer

 

nice call so far surf.

 

and of course, it gaps up and closes lower