1325 was the area identified just yesterday, however once again it is just one point, the party of 'bears' did not last long it will not as I am hearing some good news on the corporate front earnings. That will be my 'bhumbo unleashed'. I am breeding it and will soon bring it out. My targets are that perpetual guru who has been shorting INTC from 25 and the other who shorted TXN at 49 when I longed it and the other who thought the world will come to an end on 8th of Oct, these shameless characters will soon suffer. As if SOX 450 plus is not painful enough for them or TXN 131 is just a fairy tale, if this not a Bull Run what else is? If 1319 is a bear run these guys must be out of their mind!
Waiting for that 'long kahuna', half of these guys are now confirmed 'mental jerks', they have become 'old toothless' junkies smooching each other damaged bruised egos on permanently bearish sites, market is about opportunity and not about 'when it is going to come down', the day most can time it well like I do(gg) they will not waste their time on SI..
We are here to make money every day irrespective of the direction or phase. Best and most virtuous to make it without front-running or making cartels or getting involved in other impropriety activity. Getting involved in this debate of what would be or what could be epitomizes losers' mentality, one should break these shackles of single minded pursuit of destabilizing ego and trade the market on both sides.
Now look at this...from yesterday's post..
<<My next
Objective would be to be lean try to trade short from 1325 if iti goes up. 1325 for me is
the top until circumstances change, NDX in wake of nets cannot stay at these levels, so
Either DOT has to improve above 535 or NDX will test 1980 the chances of later are
Higher. I would think that 1292 will hold on break of 1292 we can go and test 1260
support on Sept contract, a significant selling in financials below 818 on BKX will herald
such a move, now keep looking at IIX, we need this index to start recovering if nets
speculators have chance to recover from ashes. I think softness will continue for few
more sessions even towards end of the month but those who will have capacity to enter
will make big, the earnings next month will be much ahead of last year same period
Comparisons, market is taking steep route and that is perfectly all right. >>
I would think that if IIX 260 holds today and we close above 264 I would recommend a long trade on IIX DOT with a stop loss at 252 or 489.... rather I would look at a long at lows of the day if 252 holds for 45 minutes or 489 holds, I would be looking at NDX and Comp supports at 2380-90 if these supports are holding we reverse if the supports and importantly... for me this chart is very clear..
quote.yahoo.com^IIX&d=3mm
If we hold this 260 area today and close above 264 it is a reversal in short term and I would like to take advantage, I will also take advantage of SOX strength and reaffirm my taking profits call.. for me it is always good to get out here and replace the existing long positions with out of money calls, the bear market will only set in if 1292 on SPU is out that is a very important support.. like NDX 1980 or 2360 on comp… or 818 on BKX.. let these things give up short the darn thing below it.. for a good move down.. |
