OT.........The ugly face of Ike.. OT ..Not for those who are nice and good... please skip..
<<For some entertainment, you can stroll over to IKE's thread and watch him patting himself on the back again. I guess he skips all the posts where he was shorting at the recent low just like he skipped the ones where he was 100% long calls at the top before the last drop>>
'Ike was bearish? and he forgets his loss making calls..' and he is comical too when he indulges in adulations... Idea lost volume becasue of that?
My answer to my critics..
'Idea lost volume ' because non-sense will not survive here for four years, the big Kahuna has reversed in opposite direction,but 'the bears' still dance on their tail with no impact of this huge bull run. We chase them with our 'bhumbo' here, and they don't like it, as bhumbo sees them off to places where they can 'pat each other for what market could be and not what it is'. The prophets of delusions and myths .
A private message has linked me to some interesting fun targetted at me on the onset of this holiday season, the same man was last week thanking someone that based on my calls he has been doing well, now on Christmas eve and as we start year 2000, true to perfection the nicest and dirtiest of dagger is plunged in my back. Thankyou for that.
I want to take exception to this and tell this guy... You and your thread has been an anti-thesis of what happened in the market since inception of your thread and the one you buried collectively before that..
The person who had recently lost the identity of their thread from 'analysis' to 'discussions' because the host felt it was more of junk than analysis, or as rightly put as unpatronable non-sense have the audacity to once again throw out.
I would just request them to go through my entire postings and point it to me that in last three weeks where did I go wrong in 'many of my neck- out calls'.
This is not a way to hurl denunciation just prior to a holiday and to hurt me, now like last time I ask you put up or shut up, please take out your own last month posts and compare them with mine, side by side.
In last four years these same sorry characters killed TSO thread than they created a new one, they recently got its sex changed for serious difference of opinion , with final rites being written for what is a active thread and with admirable huge volume. All bears get their male-hood certified, identified and sanctified at this hugely bearish thread. You pat my theories I will pat yours, is the slogan. They royally screwed up big time as COMP closed 4000 and as I predicted a new thread is being found so that all the follies and nonsense of past may be buried like these character destroyed the best thread on SI, TSO.
On a Christmas eve, the best thing after a back breaking and nerve cracking rally when these charlatans have been on the wrong side of the market is to spew venom and make fun at 'Ike' the man they read religiously every morning and acknowledge it too.
The same bunch of man have directed attacks at me at different intervals, some have lost to posterity with their exotic stuff, some sticking to see when their ?puts of last four years come in to play? and the hard core shorts jerking with pain as my 'bhumbo' takes care of their wrong moves have come back with jealousy and venom to find an easy target and vent out their 'short' frustrations.
I accept this challenge, and request the guy to just go read what nonsense on market direction he writes, it is the direction the marketit never moves.
Last time when you spat your venom which is like a elixir to me..I posted my summmary of posts, now place your gurus or your own posts side by side with mine over any period of time.. for a start lets look at last three weeks.. read and get shocked?. this is my trading life, these are my calls.. from 8th ..Dec 1999, I thought that in a small corner and limited appearance I have over come adversity but I will in my own house that I build with my time and efforts certainly crow about what I do and I do it as no one else on SI.. produce one similar stream of posts every day from last four years before marekt opens....either put up or shut up.. if you can't say thank you and no one ever taught that to you, just pray quietly and thank God that nice people like me knowing that their enemies benefit form their calls do it religiously every day to help them/...
A recap of my entire posts for those who put daggers in my back.. either find something contradictory or produce something like this on SI or any other place 'a story of market as it moves every day'.... I start with 20th and will go back three weeks.. and build up the entries and plays as I played it...
to start with.. <<
Monday, Dec 20, 1999 8:26 AM ET
Reply # of 30196
Today for me is an important day I would like to see if the breakout above 1442 is fake or real, we had once before close above this level (old 1428 SPZ) BUT FAILED as we drifted down, I would assume that today with bond yields much higher another fake break of Friday would take a heavy toll on the market, if 1432 is taken out I will trade on short side and would look at 1402 on SPX closely, if we break that support we will sell hard, on the other hand if we keep this support at 1442 on SP00H we will rally to 1475 area in a short time.. Index to follow will be SOX NDX DOT and IIX.. BKX continued weakness will give me early warning if 1442 is a fake break.. I am watching TYX closely above 6.40% yield would also weigh heavy on the market.. Closing remark ....
<<FR reit strong buy, Warren Buffet names company as a stock to buy, company outlines 2000 objectives, maintain FY '00 estimates $3.31 and FY '01 estimates $3.60>>
Now on if we don't see a move up after fomc?..
<< This 1428 SPZ or 1442 SPH has become a real resistance, may be market is building a tightening bias for FOMC. As I suspected Friday plus 1442 looks like a fake break but SOX rallied hard and have stayed nicely however if bond yields are at these levels until market break 1402 on SPX we may see bonds as high as 6.50%.. BKX is down below 750 that is now an indication that if we don't see a move up after fomc WE ARE GOING MUCH LOWER... THIS IS UPTEENTH FAILURE AT 1442.. 1380 LONG PUTS ON sph AND sox 750 COVERED CALLS look attractive.. >>
Monday, Dec 20, 1999 3:35 PM ET
Reply # of 30196
What are you getting from reads on this bond tank (TYX) as I write up .56 to 6.433..???
Thanks
<<Today for me is an important day I would like to see if the breakout above 1442 is fake or real, we had once before close above this level (old 1428 SPZ) BUT FAILED as we drifted down, I would assume that today with bond yields much higher another fake break of Friday would take a heavy toll on the market, if 1432 is taken out I will trade on short side and would look at 1402 on SPX closely, if we break that support we will sell hard, on the other hand if we keep this support at 1442 on SP00H we will rally to 1475 area in a short time.. Index to follow will be SOX NDX DOT and IIX.. BKX continued weakness will give me early warning if 1442 is a fake break.. I am watching TYX closely above 6.40% yield would also weigh heavy on the market..>>
This 1428 SPZ or 1442 SPH has become a real resistance, may be market is building a tightening bias for FOMC. As I suspected Friday plus 1442 looks like a fake break but SOX rallied hard and have stayed nicely however if bond yields are at these levels until market break 1402 on SPX we may see bonds as high as 6.50%.. BKX is down below 750 that is now an indication that if we don't see a move up after fomc WE ARE GOING MUCH LOWER... THIS IS UPTEENTH FAILURE AT 1442.. 1380 LONG PUTS ON sph AND sox 750 COVERED CALLS look attractive..
Wednesday, Dec 8, 1999 5:51 AM ET <<.. It is for me very important to turn my paper profits into actual cash and I would not mind doing that until I see a fresh break out of SPZ and DOW, I think if SPZ will break DOW will follow it on the upside so far 1428 is acting as a very strong resistance,>>
Instead of throwing garbage up please look at these posts?..
Wednesday, Dec 8, 1999 5:51 AM ET
Reply # of 30196
I think it is a compliment for this thread thriving on its tradition for so long as the most bullish thread to be termed as 'BK' on just one long put position placed towards the end of the session and virtually least risky. I work unfortunately with my SPZ and NDX levels very closely the only problem since last two weeks is that 1428 the last high is kind of acting strangely, until that breaks we have a problem on hand, if 1428 remains unconquered like a rubber ban we will see NDX will be pulled back so for me I would love to see 1428 taken out on two closing basis that is what is disturbing me.. It is for me very important to turn my paper profits into actual cash and I would not mind doing that until I see a fresh break out of SPZ and DOW, I think if SPZ will break DOW will follow it on the upside so far 1428 is acting as a very strong resistance, the market tends to take path of least resistance right now if in 6th attempt we can not break not to see the obvious would be dis-service to my own style of investing would not at these levels of the markets second guess my strategy, IBM CSCO EMC makes sense to me I can relate to them but some things don't and hence my reservation... if 30 billion $ can become 90 billion in three trading session I have a small problem with it.. Have a good day with markets and enjoy your run.. I love bulls but I am tired bull now a days..
Wednesday, Dec 8, 1999 6:25 AM ET
Reply # of 30196
The bonds can be here as a result of 'flight to quality' so what I am looking at right now is the bounce in BRKb the best proxy for the traditional market, I would be longing them above double close of 1428 and looking at 1800 support where it is right now very closely..
finance.yahoo.com
If we break this support we can go lot lower as this will be a new low of these very important proxy of DOW or traditional economy that diversion in traditional sectors and e-commerce sector will open up huge and I ma bit concerned if this is sustainable.. so with the bond I had to see why the traditional sectors proxy is stalling coke problems have aggravated the situation ..
Post on MSFT and INTC move to destroy shorts..
<<I assume, as I stated in the Monday letter that there is enough firepower and greed to keep this craps game intact through the years' end. What I want to watch closely here is the two biggest Nasdaq 100 components: Microsoft and Intel. Having been out of the game since this summer, neither have been additive to the DJIA or Nasdaq 100. But now, Microsoft has hung together in the low 90's, to really move if traders and investors have a reason to latch onto. Ditto for Intel. So, key on those two names. If MSFT clears $97, and INTC gets above $82-84, the shorts will get destroyed at last December.>>
Wednesday, Dec 8, 1999 10:33 AM ET
Reply # of 30196
<<V
In my very humble opinion Yhoo is no CSCO or IBM, like Dan Quayle was no Kennedy.. the 40 million $ rev of Yahoo in comparison to 101 billion $ of cap as per last night close is untenable, if it I will rather be a 'bear' on this one atleast..we were just hours ahead of what the market is feeling now,.
<<<Even so, implied volatility in options on shares of Yahoo was inflated Tuesday as investors braced for a possible retreat in the stock following its addition to the Standard & Poor's 500 index after the market closes.
Investors fear the stock price could fall back once demand from index fund managers dries up after Yahoo! joins the index, said Paul Foster, investment strategist at 1010WallStreet.com.
"The company doesn't have any new products. The company doesn't have any new strategies. The appreciation in Yahoo over the past few days is strictly on index managers having to insert Yahoo into their portfolios," said Foster. >>
Let's see last Tuesday Yahoo had one down day in a row, then it rallied 16 points on Wednesday, 16 more on Thursday, up 8 Friday, Monday up 27, and Tuesday the shares tacked on an additional 67 points. I guess Wednesday it should be up $100!!!!! This is insanity in its finest hour, with Yahoo surpassing American Express' market capitalization this week. American Express, one of the world's most treasured and prestigious companies, with more marketing power, brand name recognition, and commitment to customer satisfaction than Yahoo will ever have. It is just a mind blower when you think about it. But for now the game remains tech, tech, tech. Forget, everything you know. It is only what the company does and how much it's shares goes up, that matters. Nothing else. I assume, as I stated in the Monday letter that there is enough firepower and greed to keep this craps game intact through the years' end. What I want to watch closely here is the two biggest Nasdaq 100 components: Microsoft and Intel. Having been out of the game since this summer, neither have been additive to the DJIA or Nasdaq 100. But now, Microsoft has hung together in the low 90's, to really move if traders and investors have a reason to latch onto. Ditto for Intel. So, key on those two names. If MSFT clears $97, and INTC gets above $82-84, the shorts will get destroyed a la last December. I know it seems far-fetched, but remember that Amazon climbed 100% in the first 4 days of January this year. Anything can happen when $150 a share, multi-billion dollar market cap stocks dominate the trading environment, and you can't tell a soul, what any of them "do".
Wednesday, Dec 8, 1999 10:41 AM ET
Reply # of 30196
Jim. I had this thought about rotation if we hold at 1408 SPZ or 1427 SPH area for good 1 or two hours and we may see valuation shares jumping higher from 1850 plus area ( proxy of val shares is brkb) than we can look into some stocks like KO and even brkb for a play. I feel that value stocks will now gain momentum after Yhoo huge run and set back, someone who has got in at 350 will like that 400. 313 was not his idea of a run and naturally intelligent as this thread has always been (g)we try to avoid catastrophic ends gg, they may run many others look at PSIX and VRIO they are getting into run..some play on these stocks alongwith AMGN..fwiw
Wednesday, Dec 8, 1999 5:22 PM ET
Reply # of 30196
Look at this pivotal support brkb\I highlighted 1800 today it was at 1818 than right now sititng at 1800 if it breaks this support the market will go fast to 1382 this itme on SPZ.. so I will looking at this proxy very closely,,
finance.yahoo.com
Thursday, Dec 9, 1999 4:36 PM ET
Reply # of 30196
finance.yahoo.com In my opinion the chart of this brkb looks bad below 1785 I don't know why I have this feeling that today's break below 1800 may be a false break,,, I think the valuation sector of economy cannot be disregarded completely in face of strong economic performance, I would assume that this divergence between brkb proxy and NDX has to reduce otherwise falling valuation sector will bring this whole thing down, as a trader I am more inclined to think that it will be more of a steady climb for brkb and some rotation from Techs.. today?s action is somewhat inline with my oft repeated theory, I would tend to think that Buffet approach will not be proven wrong and we are testing 1785 300 points from lows made in Oct 97, so at these levels as if last tow years have been long sleeper for this sector, I think
if we don't break this 1400 on SPX and continue to hit this support on SPZ 1408 area we will certainly see movement in new sectors otherwise it all looks that momentum is fading in some sectors and we need these broad market stocks to pick.. I repeat for my friends some of the issues that Buffet raised last month although I have my own opinions but this is worth a study..
Thursday, Dec 9, 1999 4:41 AM ET
Reply # of 30196
I would think that if 1800 is out on two closing basis we will certainly see as low as 1720.. I would assume that DOW will slip to below 11000, I think the case to buy this is only valid above 1925 on the way down we will pick the level later, if it breaks the reasons would be more than stock specific it would certainly be market specific selling, I don't think as I have explained earlier that SPZ can test lows whereas NDX keeps making new highs the two have to move in the same direction, even if DOW cannot participate SPZ has to run above 1428 to justify entry into this proxy.. fwiw
Same day.. making 1400 SPX cash as a support..
Thursday, Dec 9, 1999 9:22 AM ET
Reply # of 30196
If 1409 is taken out we move on to 1418 and will try to take out 1428 but if we fail at 1408 we will test 1400 cash on SPX... if we break it we can see selling multiplying.. for me stocks to watch is brkb and its support at 1800 I think this should hold for a move to 1428,...
Calling for buy on Qwst..
Thursday, Dec 9, 1999 9:42 AM ET
Reply # of 30196
QWST is a hell of chart. I would grade it a perfect 'bhumbo' chart look at it on Point and figures...
jagnotes.com
Wind is doing great too and is in good shape.. so is SEG owns a lot of hidden value.. amzn WILL fly so would CNXT.. but I don't like to make this thread a STOCK PICKING THREAD we will than become too focussed..
Calling for some other long shots..
Thursday, Dec 9, 1999 10:05 AM ET
Reply # of 30196
GTW- single good idea...PCLN target of 80 Cnxt ckfr stocks to watch..from things I read..Sgi will benefit from lnux fwiw..
Friday, Dec 10, 1999 8:28 AM ET
Reply # of 30196
I will slowly shift to supports and resistance in SPH. but at the moment I will continue with SPZ.. and slowly merge the two. Like today 1418 is valid on SPZ and 1408 support whereas break below 1398 may take us through the 1392 support to 1382 where we will see a rebound to 1400.. I would think that best thing to watch is bkx 775 support and 750 support if we going to hold these supports we should see rebound from 185 on brkb and BKX 775 if we are breaking through these supports we may see NDX and Comp following suite, on the up if we go through 1418 we will attempt to take out 1428 and if we break it we will see a good bounce on all these oversold positions on brkb.. I woud like ideally a sell down to 1382 area and than a bounce...
Friday, Dec 10, 1999 10:19 AM ET
Reply # of 30196
brkb and ndx are diverging this is bad bad news, if spx breaks 1400 i would think that is not good..watch out.something fundamentally is not right... nok is dropping every when hot leaders are giving ground.. you should be darn careful..
bkx is at resistance at 800..amat csco ibm all are at
major resistance level/they should break..
Friday, Dec 10, 1999 3:43 PM ET
Reply # of 30196
brka and brkb tested the new low and looks like closing above yesterday high and that is a very positive close.. this my experience tells me sets this thing up for a rebound theoretically atleast, this brka and brkb turn around is great now trading above that critical 1795 mark that was yesterday high and we close above that I will call it a successful test of lows.. also on SP99H we tested the lows but were unable to take out the 1418 area that I highlighted.. today was hectic day and I think bond rally and PPi plus holding of 108 on IBM and other stocks is positive amongst many negatives... early in the session. brka and SP99H saved me from a whip saw today... 1418 was magic ON SP99H//
Saturday, Dec 11, 1999 5:23 AM ET
Reply # of 30196
SPX is cash... SPH is future... SPZ 1400 support translate to 1418 on SP99H.... if we had broken through 1400 on SP99H and brka and brkb with bkx would not haverallied from the lows that was a bad signal for the market. Now 1428 resistance on SPZ is now 1446 level on SP99H give and take few points, a break above that with a bounce from lows on Brka and brkb and we closed above the previous day high will lead us to new round of a break out as SPH and DOW along with NDX will be all participants of this new rally... I hope you get it.. if futures are unable to break the range and are tied up within a range we cannot expect to see a breakout on NDX to continue and if proxy of the valuation stocks sticks to new lows than market rally will finally fail.. instead of relying on NHNL phenomenon that is very fragile I depend on key indexes and try to relate on if this than what analytical approach ..Please ask more if above is not clear.
Saturday, Dec 11, 1999 6:40 AM ET
Reply # of 30196
<<Yet there has to be a math to what IKEs doing--even if it's an internal math that's not in equations. I use equations, not graphs. >>
I wish I could come up with a great theory, but I don't use maths or anything exotic my stuff is what is known as market conventional wisdom and experience. The inadequacy of its intellectual basis is oft repeated on my thread, the only thing I have seen that it works whereas the exotic stuff makes me prisoner of my calculations. I use plain charts and FA, I interpose my analysis on charts and find my levels, I watch a lot of action in the pits and look at other developments during a session. My thinking is based on fluidity of thoughts and I believe that it is freezing of mind that is most harmful. If markets could be traded by equations, IBM big blue should have been the best traders and IBM main computers the best timers of the market.
The wicked nature of human mind is what is at work in the pits, to chart it with maths is impossible (for what I know) and those who do it find it out at their peril, the futility of the exercise. I do it the KISS way, something that works. On these pages nearing four years my daily posts are available I assure you that targets expounded have all seen the day light but it has been a simple way and it comes when one follows what market is planning to do. The problem with exotic stuff is that one tends to take the market on his side and that is a wrong strategy. Market gives you signals every level taken out is a pointer to the mode of the market, I just try to track this mode, it is not easy but market so far has been nice to me. May be it is all a fluke and lets see when bear market sets in, but I just wanted you to know the banality and very basic thinking I utilize in my market profiling.
I envy those who use more bigger and grander theories, for people like me Gods have left some beauty in the ordinary thing we just try to partake a little from that little left for we commoners.. I assure you that I really know that there is not much into it and I want make this clear, many a theorists and great heroes rarely survive the time honored tests and rigors of the market trading, for me that is the only test I subject myself to every day. Once again reaffirming my models inadequacies I remain,, your most faithfully...best regards and hoping to see your posts on this thread ..
Saturday, Dec 11, 1999 6:17 AM ET
Reply # of 30196
<<>I would argue that new technology can only survive if old technology
> remains vibrant
... not really. Just look at the recent deal between SUNW, INKT and ISLD. SUNW and INKT converted their cash to revenue + asset in a single deal. As long as the barter system is well and alive we will see a continued growth in revenue and assets --- vibrant economy....>>
Suresh.. What I was trying to imply was that internet companies are not secondary companies as far a product cycle is concerned, the huge infra-structure and inter-connectivity is aimed at selling finished goods, communications or knowledge. Now if we continue to see a decline in assets of airlines where their survival becomes and issue or if entire retail sector disappears or if all financial transactions become on line only, we would certainly see ourselves in grip of new recession as major sectors of economy would require readjustment and downsizing. PCLN can get you a discounted ticket only if airlines selling these tickets survive and are healthy and viable, until they have ability to transport us in cyber space through routers this dependency would remain intact.
Similarly newspapers and magazines are all available on internet, if the present pace continues we may also see huge decline in commodities as paper and other commodities demand shrink,(IP is one such company) online newspapers may lead to death of industry, it is here I see a problem in my opinion you can be on internet but these time tested avenues will continue to survive, we will not give up our habit of reading news papers or bedside reading inspite of what is available on the net.
I this age to expect that our living areas would be littered with computer images of our kin?s instead of photographs is stretching limits too far, transition as you highlighted is necessary but in this transition we will see the best to survive. We will still need cars we get more affluent, still need CAT to provide construction equipment and we will still drink fuzzy Coke. After all with these advances if we are left with more time on hand therefore it will be services, holidays and other cement and mortar businesses that will flourish too. Internet is a medium and its capacity to grow is limited by the sales it can capture from the retailers or ad revenue it can steal plus many other innovations and applications in the huge communication sector.
On the retail sales side the jury is still out we still like to go outdoors although we shop on internet regularly so I would assume in 10 years 20 % of all the sales will be on line, however that will certainly increase a lot of business for airline cargo carriers firms like UPS FEDEX DHL. On ad rev even if it steals the entire rev, the moment certain threshold is taken out we will see declining ad rev momentum as increasing cyber ad rev would reduce corporate profitability of many sectors like magazines, newspapers and books. Reduce profitability would result in reduced outlays and that would translate to declining returns. Internets will survive on growth, take the growth out of the total 200 billion $ US ad outlay, if internets takes all ad revenue 100%, without growth in the ad outlay if the major sectors of economy stall, the total market cap of these companies at 8% cap rate would not exceed 2.5 trillion $. The reason I use 8% is that without growth these companies would act like utilities.(G)
At every step I find fortunes of virtual economy tied up with important elements of cement and mortar economy, health, education and living the future of two sectors are interlined, the innovations in one would not be at the expense of others. It is not a zero sum game rather win win for all. Non-inflationary growth associated with best model of free trade will work out wonders for traditional sectors of economy and virtual economy, therefore sometime Buffet assets will do well. That is the pick and reason for initiating the dialogue.
NOK money making ability is dependent on global affluence, it is not the internet that makes money for most of the people on the earth, it is their occupation and actual tangible manufacturing skills. Internet is a facilitator not an alternate, it cannot produce Versace designs. I would agree with you that companies that fail will not be able to make to the next tier of existence for any corporation to survive it is important for them to be futuristic. The impact of inter-connectivity on the GDP and macro-economics are area that needs a lot more input from big company this is a Grey area and they need to understand it well. For me my interest is to identify areas where we I should be concentrating and I hope these dialogues would help me as much futile they may sound to the daily chores of market trading.
Saturday, Dec 11, 1999 4:59 PM ET
Reply # of 30196
AT&T Corporation (NYSE: T)
investor links write on T...
AT&T Being Viewed As Internet-Technology Play, More Upside
AT&T Corporation (NYSE: T) has outgrown its reputation of being an interest-sensitive utility company. Despite the recent uptick in interest rates, the stock has climbed over 35% to $57 from a low of $42-43 in early October as fund managers have begun to build positions in the stock. AT&T is proving it is executing effectively in the integration of cable with its wired and wireless phones, as well as its long-distance operations. In addition, it is increasingly regarded as a technology-based company that is poised to exploit the growing Internet space. As more of the 'smart money' treats AT&T as a technology play, it will trade as a technology play. The party has just begun. If you were to map out recent developments within the last six months, it seems like more and more the largest telephone company in the US, AT&T Corporation (NYSE: T), is becoming more of a technology play rather than a straight utilities play.
The first thrust involves AT & T strategically positioning itself in the cable industry to take advantage of this exploding
Tuesday, Dec 14, 1999 5:56 AM ET
Reply # of 30196
<<I will watch 2365 on NDX and 775 on BKX those levels will give me initial >>
Please read it as 3165... on NDX and 775 on BKX... these are levels as supports..
Tuesday, Dec 14, 1999 6:19 AM ET
Reply # of 30196
1442 and 11250 are for me the important areas and if we cross and penetrate these points the long term patterns as 50 days MA crossing the 200 days are positive..
finance.yahoo.com^DJI&d=3mm
Similarly if we break 775 on BKX and 2165 on NDX we may see SP00H to test as low as 1398 during a course of this week, we sit at a very important point here, we have had several attempts to take out 1442 area on SP00H the old 1428 on SP00Z, the market is so far range bound and in my opinion we may see a good movement on the side that it takes out..
Tuesday, Dec 14, 1999 8:08 AM ET
Reply # of 30196
Micro cap index are making new high, if we have rally from here one index to watch and participate would be RUT 2000..looks promising and may out perform SPH above 1442..
If one compares the two charts over a duration of five years we find that RUT looks unable to break the top range... finance.yahoo.com^RUT&d=5ym this 480 area if we take this out we will move on to 550 very quick within a quarter but if we fail here we can go back to 430 support....
for comparison look at this SPC chart extended over 5 years.
finance.yahoo.com^SPC&d=5ym
COMS decision that its Palm unit filed for an IPO will help this stock to overcome this 45$ resistance above that the move looks good to 50 with a slight resistance at that point and target of 60...
Tuesday, Dec 14, 1999 10:09 AM ET
Reply # of 30196
Hiigher bond yields as a result of higher retail sales .9 above consensus of .4, although the core was in line the SP futures did not like this higher retail sales if we see further weaknesses in bonds I would bot be surprised that 1432 support may be taken out and we see more pressure, but keep an eye on the NDX that is the key index I am watching this 2200 support now...as important inter day indicator rising bond yields and falling below 2200 we may see some reversal... if we hold on we may retest that 1442 resistance, more than likely chances of piercing it are receding in view of bonds.
Wednesday, Dec 15, 1999 4:37 PM ET
Reply # of 30196
In markets we have calls and super calls look at this and appreciate the precision and accuracy of the call...
we closed at 3621 and tested 3503. the point I was mentioning was not taken out on Comp the 3500.. and we did rebound much above 1408 on SPC.. so in all a great test of supports and a bounce which saw that 1432 taken out that was the resistance...
finance.yahoo.com^IXIC&d=1d
from the 2503 to the close on Comp we had a 118 point move on comp and from 2271 where I kept my long we closed on NDX
at 3239..from lows of 3121 to 3239 it was a move of 118 points on ndx we captured it between 3272 onwards,,,
<<Look at this chart on comp we take out 3500 and we have only air in between 3500 and 3440.. we will certainly see lot lower and that is what 1400 breaks clearly indicates..
quote.lycos.com.
<<If this 1398 is going to hold on SPX we will see a rebound but I will not initiate buying on very speculative basis UNTIL 1408 ON spx IS TAKEN OUT OR 2272 ON ndx.. BETTER LATE than early in this rebound.. I will keep a st |
