Berney:" InnaGaddaDaVida, Baby "
>I do not believe the market will top until the drugs have made a charge at their April highs. Since, I'm already on record as believing that this will occur in the next two weeks, the drugs had better get on their horses. :-)
Yeah, I feel the same way, TB - that's why I got my eyeball on DRG.X
lessee... PFE reports tomorrow; MRK & SGP on 21-JULY.
The pattern has been to run-up towards earnings, then sell-off... regardless of the announcement.
MSFT... 19-JULY; do you think it will go down next week ?
( FYI, C 19-JULY; CMB 21-JULY )
>I know what you mean about GE. In the "old" days, I wouldn't have hesitated. That Sto crossing at 20 only happens 1 or 2 times a year and the three times I played it, when I was doing options, the smallest return was 80%. However, I developed trigeritis, an affliction caused by having 4 in a row break support in my personal account. It was a nice run though !
You and I are position traders; it's tough for either one of us to jump on moving trains. It's a bitch when the sto doesn't turn over, and rolls around in the dirt or, stays up there in the sky; or when the candlestick reversal suddenly fails, etc. because that's the way we read the tea leaves. Trends suck when you're riding waves, because: either (1) your reversal didn't; or, (2) your exit was way too early.
I've never been a good mo trader; I added a mo indicator to my charts around DEC-98 and nailed the no mo' mo in January... BUT, the mo indicator has been useless all through the ensuing roller-coaster ride of the last 6 months: it's flat, man. When I re-tune the mo, it just shadows the sto.
We're good position traders, Berney. I wish we could both become more comfortable with going with the mo flow, though.
WTH Dude, I'm tempted to jump on MRK or, MSFT... like a million other lemmings, ride up the mo and bail out earnings-1.
-Steve |
