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I thought babys sleep something like this: Wake up every hour and cry for food
and attention...
:-)
Never mind...
Gwenn
James Taylor wrote:
> This short for one, has not seen any equity loss even during the last three
> week run-up in the Nasdaq.
> The broader market has fallen/ remained flat during this Nasdaq bear market
> rally.
>
> The Chicago Mercantile Exchange today said that the open interest on the
> Nasdaq 100 mini-contract rose to a ninth consecutive record. This means the
> boat is getting more and more lopsided, with small speculators long the
> Nasdaq 100. Obviously, this doesn't mean that it will end instantaneously,
> but it is a sign of emotion and enthusiasm. When the market does decide to
> flip over, it could do so rather violently.
>
> I am sleeping like a baby, short to the gills this market.
> It is long overdue for its next leg down.
>
> JT
>
> ----- Original Message -----
> From: "Phil Lane" <patterntrader@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, June 16, 2000 6:17 AM
> Subject: [RT] Re: S&P Bullish view
>
> > well, I'm predicting the shorts will get hammered!
> >
> > the key is the volume and breadth - the market has been consolidating in a
> > narrow range for nearly two weeks following the huge surge off the
> bottom -
> > if it was gonna crap out it would have by now - instead the "tone" has
> > remained firm throughout. Also note that the the bearish sentiment has
> > refused to decline during this period (at least for last week, don't know
> > about this one). It seems like a perfect situation - if stocks had
> continued
> > to shoot up the rally would have been unsustainable. This little pause is
> > allowing stocks to finish forming their individual basing patterns. Some
> are
> > outperforming - ones that were making new highs (and there weren't too
> many)
> > back on 5/24 when the reversal happened are doing exceptionally well. I
> > believe I made a posting to this effect at the time. Might have been the
> > O-list, I don't remember. My favorite pick was ADCT - it was barely
> affected
> > by the correction while most stocks were destroyed. I remember someone
> > thought it was "overvalued". (Warning: This kind of thinking will lead you
>
> > to buy stocks in downtrends!!!). Also went long the futures on 5/24.
> > Increased 3 days later when the market followed through. And again on
> 6/13.
> > Waiting for the next leg - meanwhile the boredom has been alleviated by
> all
> > the daytrader chatter on the RT list....
> >
> > rgds phil
> > http://www.patterntrader.com
> > disclaimer: Sometimes I'm dead wrong!!!!!
> >
> >
> > ----- Original Message -----
> > From: Michael Ferguson <wl7bdn@xxxxxxxxxxxxx>
> > To: <patterntrader@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, June 16, 2000 5:45 AM
> > Subject: Re: [RT] Re: S&P Bullish view
> >
> >
> > > Or, a narrow sideways channel, butting up against resistance. The
> question
> > > is, are the longs or the shorts facing higher risk?
> > >
> > >
> > > Michael
> >
> >
> >
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