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Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: ChrisJP who wrote (17268)	2/24/2001 1:24:53 PM
From: Jeff	Read Replies (5) \| Respond to of 19297

well.....put it this way......yesterday was the biggest criminal act by the big boys and CNBC that you will ever witness.... the market is crashing.....we should be around 2100 right now.....and monday morning would have been a bloodbath as nasdaq tanked into the 1900's..... but the big boys through CNBC decided to make a short squeeze by floating the news the fed may cut anytime next week.....shorts panic and covered.....that was your rise yesterday....... now the big money can get out higher while more little guys get sucked in before the crash to the 1800's...... in january.....when we broke out of that channel to hell....that was a sign to go long...... now.....this past week......we fell back into that channel which heads to 1600 in march.....so now the upper channel line is resistance again.......i won't think long till we break up through that again....... plus.....now everybody knows the fed will cut again.....its just a matter of when..... but if they don't cut next week like the news said yesterday......just watch the monster selloff.......and if the market runs up monday and tuesday waiting for that "surprise cut".....which won't be a surprise now.....roll.....it will jump some...but since its already priced in......it will selloff anyway......probably right at that upper resistance line from the channel to hell...... so.....next week.....i will play the game of the big boys and jump in some longs.....but i will be ready to short at certain signs on my charts...... if nasdaq fails at stoch 50....and the VIX does a stoch 50 bounce.....thats a major sign to go short...... individual stocks......i will be watching this close on monday and tuesday...... the 10-day moving average line.....since all these are oversold......the first resistance is the 10-day here..... MCDT...can run to 30 on this fed hype.....thats the 10-day....if it stops there with a bearish candle.....short it....if it breaks 30 with a bullish candle.....next line is the 20-day at 38........so with the fed hype this week.....MCDT should at least be an easy 5 points to 30 and maybe higher...... askresearch.com EPNY.....same thing......could go to 25 then 29...... askresearch.com most stocks are oversold.....so if the fed hype holds up the market......just play any stock this week......and be ready to sell at resistance if the hype stops and the market tanks.....and be ready to short.....because most stocks made new lows......they will test them again before they run....... so the new lows on these stocks are very important..... or make it easy......the easiest money play around is the QQQ......i was short those from 60.....covered yesterday in the hype......now i will long them in the hype and watch to short them again......because they hit a new low at 48...i know they will test that again.....and you can short these at will......no uptick needed......so anybody who never shorted before.....should begin their short learning experience will these......because its easy in and outs because they are played with heavy volume everyday......so on the QQQ......the 10-day is at 54.....20 day at 57......so just watch the price and know the resistance.....the minute you see the market selloff from the fed hype......short the QQQ.....if the market tanks to 1800...these will be around 40 to 43.......and should at least go back and test 48...... ya know.....everybody is running around looking for the next hot stock......which there aren't any.....roll...but you could just play the QQQ long and short and make all the money you ever wanted......so everybody should have some money in this money machine of a stock.....roll!!! anyway...i concentrate my plays instead of chasing things from the threads....... this week i will be playing.....EPNY.....MCDT...MLNM...NEWP....QQQ...BHH.....all the money you need is right there......the fed hype will run all these up.......i will make money long till resistance area's of either the 10-day or 20 day moving averages......then if the market starts tanking again......i take a large short on the QQQ......and maybe find a few individual stocks to short like high flyers JNPR or BRCM...... the fed can cut all they want......it won't help till next year......the market had a blow off top in march last year......so it should have major bottom in march this year.......and earnings are going to be sad this quarter.....so no matter......like i said after the easy money of tax plays.....its a traders market now.....and things can turn on a dime.....like yesterday's bullshit hype of a fed cut......but things like that are the only things that can hold this market up till next fall.......so play the hype......then think short again......its the only way..... btw.....sar hits are for a market bottom in march if that happens as planned.....roll sar was a great play in january because you knew from the tax selling that a bottom was in on penny crap.....so it worked well.....sar isn't as reliable in a choppy market that has no direction.....january had a month long uptrend...so sar was the play......in other words......in a long uptrend......sar is the key to get in early for the ride......but now...in a choppy market.....with only a few up days followed by a week of down.....sar is useless.....so i hope for a bottom in march.....followed by a slow steady uptrend...which will trigger some nice sar plays till the month of may.....then a down trend till the summer rally after memorial day......followed by a choppy summer and early fall......then we see what happens after the normal october crash......if we head up in november.....we have a new bull market to ride again..... we shall see.