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Careful Sju, if today stays real flat like it is now, FAZ could stay real close to the open, and, tomorow being Friday we could see another GREEN Friday...6 in a row now. Could be good for you next week, but could be a gamble. Just my thoughts, take it for what it is.
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back to 100% cash here on the retirement account. Almost doubled it from last year. If we do manage to go green tomorrow I'll just have to wait for the pull back. Almost certainly will be one.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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quote:Originally posted by BooDog: back to 100% cash here on the retirement account. Almost doubled it from last year. If we do manage to go green tomorrow I'll just have to wait for the pull back. Almost certainly will be one.
should have stuck to my analysis. only gave it a 50/50 chance of starting a new rally.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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Thanks for your input TJ. I was at a Microsoft seminar all day yesterday with no computer, so I didn't check in at all. I was checking the market from my phone.
You were right about today being green again. I'm still holding FAZ here. It's just trading kinda sideways at the moment. I will hold into next week and see what happens. DOW at 11000. It really looks like it's time for pullback. Of course, if it busts through resistance and 11 becomes support than who knows. But I feel we will see the pullback.
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I think Morph is on vacation Raj. I don't think he's holding much of anything right now. I'll bet he is wishing he was still in SIRI though.
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Not in anything for me right at the moment. thinking about F....getting real close to breaking through their high. I think they will break through it and go higher. Could be 5% or more there for sure.
SJU- it looks like your just about breaking even right now on FAZ. like you said, not bad considering.
i'm absouletely bent that I didn't get in on SIRI this time around. I believe their earnings are coming about nov. 5 or so. Should be a good dip in between now and then.
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out at the track yesterday..there were 9 races...there were 9 winners...I'm twisted that I was not there to bet on any of them??? and today..guaranteed 9 winners...hmmmm
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my take is this...don't hold your breath..."they" are are conjuring some "bad news" right now...its been a long while since I heard anything negative on on CN-BS...or any other "puppet" news outlets..it seems everything has just been too rosey.. it will be something fo sho ...Im short the market via FAZ long...also to consider...it has been green for way too many fridays in a row now...we are due for a change...IMHO
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I hear ya morph. I'm usually betting on the market falling and actually seeing the Green Friday go red.....but, that hasn't worked for me in a while so, I guess you can call this my Costanza trade.
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hmmmmm....let me try to figure out what Morph is thinking.....told ya so?? I'm not feeling so good, I think I've got a case of the "coulda shoulda's" Shoulda sold FAS at the open, coulda changed it up and bought FAZ. I did do all of those things but was just a little slow at doing so. I've been in FAZ for a while now. Ugly news for BAC and banks in general.
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aaaahhhh....did "they" come out with bad news? pooooor BAC and the rest of the crooks...lets see now...DOW up 70 one day and dow 210+ the next...just the tip of the iceberg??? ..thats my bet...long DRV and FAZ at this point
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BAC headed for the next 52 week low. I hope your right Morph. It's pretty hard to follow the fake news, the bad news and the good news.....feel like I'm on a roller coaster here.
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This market is crazy. I remain long in FAZ at the moment. Why? Well, I guess because I am to scared to get into anything else with the market at this peak level. I know the second I pick something up long, the market will pull back. So, my thinking is that there will be a pull back. The big question is when. Hopefully my patience will pay off.
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sju-just about my thoughts exactly. big ditto. AND, with the green Friday trend finally broken last week going red, AND the way the market is headed now, and for the past hour or so, I think we could see another red Friday......gotta be a pullback.
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Raj-I'm basing a lot of this on BAC, which is one of the leading indicators for FAZ. Take a look at their chart and tell me what you think. as far as what I'm seeing they are headed for ANOTHER low. When they had the chance to break-up, they haven't. They have broken down. That's what I'm seeing anyway. On top of that I just haven't heard any great for BAC or the market. Although still gotta factor in the fake news.
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I am not really looking at any financial stocks directly as an indicator as I have seen FAZ and FAS not follow BAC and or C for example exactly. However, financials as a whole seem to headed for a pull back as well as the DOW in my opinion, but who knows for sure.
As far as 11000 being the new 10000 for the DOW. I won't buy that until I see a serious break through resistance at 11000. If that happens I guess I will be selling for a loss. Otherwise, I am sticking with my current view that there will be a pull back here around 11000 sometime soon.
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I actually don't really have an opinion on PBR though. I did look at it. Financials, balance sheet, etc. look good. However, I have never really traded any oil stocks so I have no experience with them. I didn't want to give any bad advice.
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I'm kind of wondering what this election year is going to do to the market..??? It seems like the market just wants to stay high till it's over this coming tuesday. I'm wondering if that's when were going to see a drop and correction in it.
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