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To: MythMan who wrote (51565)8/28/2002 3:04:59 PM
From: AllansAlias  Respond to of 209892
 
I can make the case for JPM Myth. I am leery of BAC and would not try that one.

You know I have been on about JPM and I can still make the case for one more high. Still, I don't think it's worth it in any case, as after the next marginal high, if they even do it, they should point down rather hard.

To keep it simple on JPM, it has pulled back to the break of the downtrend line it busted over on a gap just yesterday. A gap down tomorrow and it's dead. I don't see that, but in case you really are thinking about going long, I so would not touch it if it gaps down tomorrow.



To: MythMan who wrote (51565)8/28/2002 3:09:11 PM
From: NOW  Read Replies (1) | Respond to of 209892
 
ahhaha is undoubtably the same guy who suggestd WCOM as a solid candidate for a long based on his proprietary methods:
Message 17438443
not saying he couldnt be right with JPM.



To: MythMan who wrote (51565)8/28/2002 3:14:48 PM
From: yard_man  Respond to of 209892
 
short BAC -- that guy doesn't know Jack ... or Sam ... or Fred <vbg> I sold it this morning <ng>

Sell LEH, too



To: MythMan who wrote (51565)8/29/2002 9:58:32 AM
From: AllansAlias  Read Replies (1) | Respond to of 209892
 
Myth, JPM did the business with a gap down. It is now sporting a small breakout failure and that is a sell signal.

(Breakout failure: Pushes over a downtrend line, in this case it did it 3 days ago on a gap up. It then gives up the breakout, preferrably on a gap down as it has done this morning.)



To: MythMan who wrote (51565)8/29/2002 10:01:44 AM
From: AllansAlias  Respond to of 209892
 
BTW, I still do not have the sell signal I want on the banks, so I am staying away for a while yet.

It is interesting to look at the options in banks. Two days ago, they were selling at a terrific discount to historical volatility. In other words, puts were very cheap.