nikoschopen
2,824 posts
msg #53661
- Ignore nikoschopen |
7/30/2007 12:06:07 PM
Alright, I reversed my position to long. Hope it will stick this time.
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nikoschopen
2,824 posts
msg #53662
- Ignore nikoschopen |
7/30/2007 12:48:27 PM
Although nothing can be claimed as definitive, the Dow looks quite bullish. My price target stands somewhere between 13,320 and 13,340.
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msummer2007
129 posts
msg #53664
- Ignore msummer2007 |
7/30/2007 1:00:12 PM
Sooner or later the Dow will seek a level. Then it will find support. I still believe any rally will be short lived. Usually low volume in August, will help the bears. Good luck on your long positions.
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nikoschopen
2,824 posts
msg #53666
- Ignore nikoschopen |
7/30/2007 1:32:57 PM
There's no doubt that this market is heading lower in the long term, namely for another month or so. But there are ample opportunities, as a daytrader, to capture reversals on a snapback, which is my forté. I wish you the same luck. By the way, the Dow should be making another trip south.
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msummer2007
129 posts
msg #53672
- Ignore msummer2007 |
7/30/2007 2:14:19 PM
The second down leg will be swift and furious. Maybe in another week or two. The current longs are just looking for a quick ride. I don't see them holding their positions very long.
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nikoschopen
2,824 posts
msg #53673
- Ignore nikoschopen |
7/30/2007 2:47:18 PM
Well, I hope it comes sooner than later since I'm holding a short position. LOL
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msummer2007
129 posts
msg #53676
- Ignore msummer2007 |
7/30/2007 3:05:51 PM
This market might carry on for another day or two, then reality will set in. Down she comes.
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nikoschopen
2,824 posts
msg #53677
- Ignore nikoschopen |
7/30/2007 3:56:02 PM
You have some important economic numbers coming out tomorrow like personal income/spending, consumer confidence, Chicago PMI, just to name a few. Any one of these numbers could tip the scale in either direction. But the downside risk obviously outweighs the positive potential. Hence the reason for the selloff leading into the close. But then again, there are still too many eternal optimists loitering around, so who knows where we might end up?!
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msummer2007
129 posts
msg #53680
- Ignore msummer2007 |
7/30/2007 4:34:30 PM
I predict a follow through day tomorrow. Those reports are another fudged number that the economists create. Stick your wet finger in the air, which ever way the Fed wind blows is the way the numbers come out.
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nikoschopen
2,824 posts
msg #53696
- Ignore nikoschopen |
7/31/2007 11:18:12 AM
Just like you said, every notable news item was more or less predictable. So why isn't the market screaming higher? Aahhh, such are Human beings.
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