This is your tone and call LG and Lee on 11th of Aug 1999.. the first of fifty I plan to post and this going to be a long day, as you post I will,,, one after the other.. read it and enjoy your posts as DOT started its most memorable bhumbo move to 1154 move up.. look at your tone and how you ridiculed the longs. for you it was the demise of DOT for me it was move up to 577, for Lee it was an over bearish tone of the market that was disturbing him.... now lest keep it nice and polite as we commence.. my post got form GZ a great remark although now he may denounce me.. This is pure education, this is backtesting at its best, and this is the real world of trading with the sharks... don't tell me this is insult, this is your own post and this is something that is part of our SI heritage, we own it and we are proud of it after all we collectively made it such a nice place. Lets keep it nice and clean and talk about TA what did you miss I will not include others as lot of others on MMDD were bearish but as they come in the discussion will grow,, why did I made that call.. and why you guys totally missed it or messed it but lets keep it missed it.. but look at your polite tone to OJ.. Bite your tongues as more of these nice calls await your response, I remain as always you and yours most true admirer.. I am mostly a single poster on my thread and as such would welcome this unique opportunity to welcome you as my co-host of Idea, since you are looking for a great loving companion. I assure you of my greatest respect for you. Idea is a great warm thread which will look forward to yuor acceptance and nice discussion. Ike latif
I will like you to kindly look at my posts and point out to on hourly charts where I made a strategic error, and where i was offensive, your effort to crown yourself championship of nicety and roll people who disagree with you as crap is totally unfair, now you have given me a chance lets look at it cool headedly nice and clean..
A day in life of Idea on 11th Aug 1999..
This is my life on Idea?. and theirs on MDA or MDD? and I will post fifty of these comparisons.. one after the other, as we progress through..
On Aug 11th I posted as Internet DOT was about to break? 503 and predicted that it will hit 575, the same day the guys who initiated this present argument made a stinging attack on internet rally, and described that rally which would not stop to take us through 1150?
quote.yahoo.com^DOT&d=1ym
My post on 11th Aug 1999?..
CSCO earnings will give a 'bhumboo' not too big as the 'bear who was antithesis of Goliath and has just turned into hush puppy bull' does not like sharp upticks I have arranged for softer version to that barking dog and his cohorts.
CSCO earnings is going to give one for beginning my bhmboree has not done her work so far but the combo of the two is dedicated for that ' bear changed to diaper bull', these bunch of fly by nighters who will disappear soon as market after testing supports rallies would please to learn. that. The catastrophe in Paris never really came, Nastrodamus hopefully will be buried for posterity and so will be the forecasts of his dime a dozen followers on this SI..
We are still alive and kicking so would the markets hopefully. If these guys think that anytime market takes a breather is a sequel to death of the market, it is clear indication that they have no experience or idea of markets, they say that we are trying to protect the investors one of them in last five years have been forecasting the 'death of this market umpteenth thousand time', they should be read as a 'joke nothing more nothing less'. Learning Ike style of inter- relational indexes and shamelessly copying my levels would not lead one to predict forecasts, with levels you also needs an open mind and a free mind, a mind not encapsulated in dogma and end of world scenario, a mind that does not carry stigma of self-righteousness and puritanical approach, a born again market prophet can only think within a tunnel and market needs a visionary a broad spectrum mind a wider horizon that is what makes a good trader.
These bears and bulls and clan of 50 will get this one on the chin.. the market will test its supports and progress on.. in my opinion this destructive state and rumor mongering is state of mind. I hope they get a happy pill 'Prozac' to appreciate beauty of life and markets.
These kids on the block and their old MU INTC MOT fame gurus, can keep lamenting why these stocks don't come to earth? The stocks will belong to where they belong that is up, the put on MU INTC HWP will become a worthless junk like their thousands of other puts so far have.
They don't understand one small thing markets don't fall on back of strong economies and in new economy these leading companies are not industrial giants they are agents of 'price deflation'. In rising oil prices lies the nirvana as we need lot of 'oil money petro $'s' and a little bit of inflation to be spent and recycled to pay our debts back by emerging markets and sell our software?s and networking gear to the new riches of the world. With chances of falling US debt we need new clusters of economic growth where exports potential exists, sometime US economy anchors the world this time global growth with slower growth of US economy will help the next move for the markets from 2000 onwards.
Remember what Ford use to say if we don't have enough income for our workers who is going to buy my cars? Little rising prices and strong economy little bit of inflation like 3.5% will do magic, of course in the meantime we will hit 1130 as news trickle in but the time these guys were short they wanted the market at 5000 now atleast they are looking at 9500, so all of them are converts to my '8000 is steal of the century' slogan, someone who had used my post as a 'joke' has now removed that clarion call from his profile.. he had added after my quotation '8000 steal of the century' -if you are short, now that is gone but these guys are now looking for a 15% correction that will only take me to 9600.. However none of them have the decency to explain why did their charts missed the move of market from 550 on SPU to 1400? On that they are all quiet.. this CSCO earnings will not help them either..
Internets above 503 is a buy and I expect them to hit 575 again... I think we made a higher bottom yesterday as we tested the lows on DOT... my stop loss would be 545//
Wednesday, Aug 11, 1999 12:10 AM ET
Reply # of 36034
Challo, Thanks for the kind comments. I am glad some of my lines are holding but I do feel I have been a bit negligent in my charts lately due to limited time.
As for the market. I see a lot of talk tonight about this is the bottom. While the recovery in the indexes and internets was impressive, looking at the stocks I track, I saw a lack of any real volume and I am reading a lot about buying this dip already. Looking over my individual stock charts and most of the sector indexes, I see nothing really bullish. Transports did not bounce and most stocks didn't recover that much.
I see only a few bullish signs. The TYX MIGHT have formed a small hanging man today and is ina good spot onmy forks to pull back short term. Also I show the XAU gold and silver index hinting at a reversal soon with the same being said for the Oil sector indexes.
Bearishsigns are plentiful with most already being mentioned here such as the high new lows on the NYSE, bearish TICK, TRIN, broken support lines and high number of stocks that have now fallen below their 200 DMAs.
I am however starting to think about dipping myself later this week or else next week when I hope to be able to watch the markets all day and trade the option unwindings.
Just got interupted and lost my train of thoght so will leave it at this.
Good Luck,
Lee
To: Options Jerry who wrote (22678)
From: LG
Wednesday, Aug 11, 1999 9:10 AM ET
Reply # of 36034
Options Jerry: Two or three months ago, you were coming on this thread and chanting the "internet" mantra...buy buy buy!
This question is not intended to offend, but since you represented many with that view, I am curious to know if you have changed your mind considering many of the big name high flyers have corrected approximately 50% to 70% off the highs.
Regards,
LG
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