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Registered User
Joined: 2/18/2005
Posts: 8
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Looking at a daily candlestick chart of the Qs: Bearish engulfing pattern on 10/11, dark cloud cover on 10/15, and a hanging man today (10/17). Negative divergence between price and moneystream. Qs at a 6-year high.
Look out below?
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Registered User
Joined: 2/18/2005
Posts: 8
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Qs made a steep plunge in the AM: Nice profit on Nov 56 puts. Recovered in the PM and closed up 0.4 % on the day. Still looks like they're due for a significant correction. Nasdaq futures down 0.4% at 2345 EST, Tomorrow is the 20th anniversary of the '87 crash.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I dunno .. good volume seems to be picking up a bit.. I'd wait a bit before opening a bunch of shorts here. Yesterdays long tail could just be to fill the gap. The tail didn't realy penetrate out of the current trend. I think we are likely to see it move sidewayse for a bit. Possibly like may and june.
That said you may enjoy my other post on pulling out the parachute and preparing for a big decline. I'm not saying there will be one, or that it's eminent... but if there is I think it wont be NOW anyway... maybee next year.
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