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.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (15336)	12/7/1997 10:37:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

'Bhumbo' appeared in April 1997 at break of 770 one of my closest friend and greatest trader decided to bet on the wrong side of 'bhumbo' he ended up closing his positions with a huge six figure loss- I have recently christened 'bhumbo' and have decided to use this on major trend breaks like I saw it in case of Nekkei reversal , for someone like me who is predicting move of the markets unwaveringly I imagine 'bhumbo' as a painful phenomenon what we in technical terms call 'blood on the street' possibly when towels are thrown in. Ofcourse I am not married to bull trend and like any other trader look at a point where to start building cover at the moment I have targets clearly indicated on short side if these targets are violated on closing basis couple of times I have problems on the up side albeit the possiblity is remote but an astute investor need to keep open eyes. Although bit confusing but path thru new highs is always covered with lot of if and buts- Russel you remeber your post of 'specialists interest and member's interest' I clearly pointed you that instead of being a contarary signal for me it was a confirmatory signal of market going higher this bull leg has taken every one by surprise- gurus were long the bonds short the markets here comes double whammy -got whacked on the bonds and market goes higher, this market is too complicated an affiar- I instead of just writing go long or short have made my views on Why? available on this thread- I wrote why bonds will sell until when their selling will not affect the market and how one shopuld play the market long on markerts short on bonds. This is bhumbo phenomenon the 'reverse diversion' . I don't thin bhumbo will appear more often now but considering past experience my strategy is long until my techs become laggards and fauil to move and start breaking for me then atleast until next 15 sessions market is limping and I will trade on short side.