Good Morning Judy
I am in complete agreement with your assesment..I too have been pounding the tables on the semis sector..It WILL lead the techs higher for sure..And certasinly into next year with a vengence.. I was completely caught off guard by the power of the sector rally at this point in time.. But quite frankly the market IS always early.....
When a guy like Kurlack says he thinks things will slow down next year, he's full of crap!!! I know better...I can safely say that if and when a slow down DOES occur i'll be able to post it here even before him!!!<ggg> And Judy my dearest I'm NOT kidding!!!
As for the near term, i am not buying any stocks here.. I feel there is a big move coming in the markets in the next 2-3 weeks.. We both agree along with others here that the market wants to go up..
I'm playing the OEX..I have a position already and on MON will add to it in a big way..Here's why!!!
From 8300 we sold off to 7600 in a fast and furious way..The KEY element to this entire market was we did NOT have a follow thru selloff on MON morning after a 250 point incredible decline....Despite my apprehension of such an event, i was very happy to clear out ALL Sept option positions, and raise cash for what I'm about to do..
So we go from 8300 down to 7600.. We have a technical rebound of 300 points or so a 50% retracement of the selloff. Then we selloff again on Thurs and Fri, but it was VERY meaningful to me..!!!
Hey we bounced AGAIN off 7600.. If you think about it we actually sold off in these 2 days intraday almost 340 points.. . Now even though we came back and tested the lows of ONLY a few days ago, it doesn't matter.. This market held the NUMBER like a rock..
It is my contention as I've posted here before, i thought we would see 8500-9000 before 7500-7000.. I think that will hold true here..
I am going to buy on MON the OEX adding to my Sept 980 strike to reach 100 contracts and then purchase the 930-940 strike as well.. Looking for a quick trip north to hopefully 8500 before I head to Europe..
I don't want to play stocks, with downgrades and upgrades, I don't need the Kurlacks of the world knocking quality co's with his hidden agendas.. Hey just give me the PURE little ole OEX.. If I'm right, up I go, if i'm wrong, down I go.. I like the odds, they are 50-50.. Even money!!!
In fact, the ODDS are now in MY favor, based on tremendous Money Flows, seasonal trends, and some powerful buying bias ready and willing to "dip their beaks into the abyss" of trading for fun and excitement..And ah yes, they don't want to MISS this fabulous boat!!<<ggg>>>
So that's my game plan pure and simple.. We have on this thread better people that can provide solid indicators and trends, than any other SI group..With all the imput here it shouldn't be hard to play the "MARKET"" rather than stocks..
I like this a lot, and will persue it even more heavily upon my return and rejuvination..There are many very reliable indicators that can help in portending the markets directions.. I'm very confident we can & will be able to trade this market with style and grace..That my dear is exactly what this group has, style and grace<<gggg>>
Talk to you later, My Best to you as always, Jer |
