Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (6387)	9/22/2011 9:56:02 PM
From: marc ultra	2 Recommendations Read Replies (1) \| Respond to of 10065

Bob has a new bulletin out which I think was influenced by today's successful retest

To: marc ultra who wrote (6387)	9/24/2011 3:34:17 AM
From: marc ultra	2 Recommendations Read Replies (3) \| Respond to of 10065

8/8 versus 9/22 internals. Got this from NBR transcripts as can't get the WSJ historic data. 8/8 0 new highs, 1345 new lows. 47 adv, 3091 dec. vol 2536, up vol 25.2, down vol 2510 9/22 9 new highs, 770 new lows. 343 adv, 2724 dec. vol 1713, up vol 82.4, down vol 1630 I think this may be some kind of mix of Dow and NYSE composite but the statistics are exactly comparable. So 9/22 was a pretty extreme down day but as a retest of the of the 8/8 benchmark low it was obviously mild compared to 8/8. I think Bob would see it as a perfect successful retest. This is just classic for what Bob has predicted in the past where once we go over a 10% correction in an ongoing bull, we then need to go through an extended process of testing and probing which in this case we had 6 weeks of numerous tests and on 9/22 intraday actually fell a little below the 8/8 closing low before strongly rallying into the close on less extreme volume and other internals. . Thanks to following Bob closely for years I was able to say elsewhere on 8/8 that we had set the area of the bottom and predicted the extended period of testing and noted 9/22 looked like a perfect retest. This again looks like the 1998 scenario and the only thing based on that and other retests it is possible we could have some final retest in the Oct-Nov time-frame. With the 9/22 retest and Bob's bulletin I took a flyer on some WY $16 calls for 75 cents expiring 10/21 which is the first time I bought an option in many years. Hope it gets taken over on Mon <g>.