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Registered User
Joined: 12/8/2004
Posts: 1,301
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that I would have never guessed in a million years the market would be up today.
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Registered User
Joined: 10/7/2004
Posts: 166
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QUOTE (HaveNoCents) that I would have never guessed in a million years the market would be up today.
Havenocenta;
I'm thanking Cramer on MadMoney. He pumped "Main Street" companies last night like BA, IR and others. I suspect that is why GE ramped into the close. It was an excuse to put your money somewhere that has been quiet. GE was lagging all day while BA took off early and flew at reasonable altitude.
Just my thoughts, but what do I know about the market?
Happy Charting
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Registered User
Joined: 12/8/2004
Posts: 1,301
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I don't care which way the market goes right now, but I wish it would make up it's mind and go in one direction or the other for the next few months.
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Registered User
Joined: 1/15/2005
Posts: 13
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seem here, I placed all my stops last night, but
none of them hit today
too bad amex oil was down today =)
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Registered User
Joined: 11/5/2005
Posts: 180
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HaveNoCents: you mentioned in a post (GNBT post I beleive it was or maybe NVAX post) anyway, you mentioned that you thought the market was going to move sideways for awhile and maybe a great opportunity for traders, do you still feel this way.
You mentioned the concerns you had about the markets then the dow went down -213, you got my attention.
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Registered User
Joined: 12/13/2004
Posts: 76
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I would comment on this "rally", but I think DW's report for today says it all very well.
On a more personal note, if one makes a habit of wishing for the market to "make up it's mind" (note that the market does not have a "mind"), one can look forward to a wish-filled and fustrating trading career. Meditate upon this at 2nd level.
And check out the Dalai Lama article in this month's Wired mag, p.96. Great read.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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QUOTE (r1cowan7) HaveNoCents: you mentioned in a post (GNBT post I beleive it was or maybe NVAX post) anyway, you mentioned that you thought the market was going to move sideways for awhile and maybe a great opportunity for traders, do you still feel this way.
You mentioned the concerns you had about the markets then the dow went down -213, you got my attention.
I still believe it is a great opportunity for traders. Especially for traders who are truly out of the market at the end of each day. I don't have the time to do that right now, so I'm stuck with keeping my stops close.
I continue to have no stops on my shorts on JCP and BBY because there is not even a negative trend channel to work from yet. If they gap to new highs, I will still have to wait a couple of days to see if they are continuation gaps or exhaustion gaps.
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