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Hi DIMITRIS,
Friday, November 12, 2004, 4:26:38 PM, you wrote:
DT> Yuki, The last two candles give an obvious picture. To cross
DT> 10,900 and go lower, you need V=68,000. [Nov11] To cross 10,900
DT> and go higher, you need V=81,000. [Nov12] The interpretation is
DT> [for me] unique : 10,900 is a resistance, not a support. If, 2-3
DT> bars later, the same Friday´s money will push the prices to go
DT> lower, it will be quite easy, much easier than Nov11 attempt. The
DT> end of the next week will give the confirmation of this scenario.
DT> Dimitris [BTW, who is Eliot Spitzer ??]
Well, we quite agree, I think. Certainly the end of next week should
give us a clear picture. And as I say, I did nothing. I suspect the
long side, but I'm not ready to challenge with a short. (I just
don't do much shorting these days anyway, although at one time I did
a lot.)
My system these days is very short term. If there is a continuation
on Monday, it will almost certainly carry through to the open on
Tuesday. Devil take the hind-most. ^^_^^
So, my friend . . . what is your plan with CSCO? :)
BTW, I'm surprised (sort of, at least) that you don't know who Eliot
Spitzer is. He is the attorney general of New York state (the
government's top lawyer for New York state). He has been a real pain
in the butt for American mutual funds recently, as he has exposed a
lot of fraudulent practices. We need a Japanese clone, I think.
I am a true cynic, by the way. I do not believe the markets are
honest, and I believe manipulation is rampant, surely more so in
Japan than in the US. I believe yesterday's action was related to the
SQ (Special Quotation) settlement of options and futures for
November, which was based on this morning's opening prices. Someone
was caught short. Someone big. Someone who could fight back. I
think they did. But then, cynics think like that. ^^_^^ I never
mind losing a few coins. Never. It goes with the territory. But I
resent having my pocket picked. I feel it was picked yesterday, even
though all it was was a profit limitation. Still, I resent it.
Fortunately, they dare not be so blatant very often, or they would
attract unwanted attention. Most of the time, I can ignore them.
They can cheat and get away with it, as long as they keep it to the
occasional.
I really hope you are right. Being flat, I'm rooting for the short
side right now.
Yuki
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