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Author: SandyMack Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 36686  
Subject: Beware Tomorrow! Date: 7/11/2001 11:32 PM
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With futures going through the roof, "good" news popping up all over the place, and an AH trading session the likes of which we haven't seen in a long, long time, one could be transfixed into long positions before thinking things out. Remember, there is a ton of bagholders out there and they're gonna want to bail somewhere along the line. Also, gaps tend to fill, so don't be surprised to see yesterday's closing prices re-visited...might even be some good short opportunities once the open peaks. Could be, too, that we'll see some hod prices during pre-trade! Personally, I plan to take some profits during pre-trade...look for some shorts sometime after 10:00 (sticking to my rule of not entering any trades between 9:30-10:00)...and look for some long entries when some gaps begin to fill.

Use your heads, folks. Lock limit up futures do not necessarily mean a whole day of nothing but uppy.

Sandy
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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7767 of 36686
Subject: Re: Beware Tomorrow! Date: 7/11/2001 11:35 PM
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Sandy

"hod prices" What is that?

You sure know how to bring someone back to earth, thanks!

Jean

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Author: SandyMack Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7769 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 12:09 AM
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"hod prices" What is that?

hod = high-of-the-day

Sandy

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Author: stevieoh Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7778 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 6:05 AM
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Awesome post Sandy!!

FWIW, something I noticed yesterday...had my support set for 1935 on the naz....about 10 minutes or so prior to it approaching that level, higher than normal buying started to come in on the few stocks I was following...nothing I could put my finger on at first but in hindsite, I will try to use the same theory to see if there are gradually more sellers as the naz approaches the 2k mark, whatever goes on, I'll try and go with the flow.

Just a thought.

Gonna see if IBEM is alive for pre market too!:-)
DT ONLY!








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Author: jmendola One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7781 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 7:39 AM
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Great post, great reminder. I have, in the past, lost more money on days like this, than on wishy washy days. OO

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Author: jnk96 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7790 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 9:03 AM
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Beware, perhaps, (I agree with SM)

BUT

Be Smart also...if you're agressive...there will be opportunities to take hold of...think both ways long and short

this could be an awesome day of ups and downs

jnk

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Author: eboller Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7792 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 9:14 AM
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Beware, perhaps, (I agree with SM)

BUT

Be Smart also...if you're agressive...there will be opportunities to take hold of...think both ways long and short

this could be an awesome day of ups and downs

jnk


I agree--look both ways. There may be folks looking to get out but we've also been very oversold as of late and people just want to buy buy buy. I think today will pan out to the upside. I could be wrong. However, I do totally agree with Sandy--don't trade the first half hour--let things settle and see which way it breaks from there.

Eric

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Author: jnk96 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7794 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 9:32 AM
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also...

if you don't feel comfortable trading or entering positions on a day like today...it is an excellent opportunitiy to Paper Trade and observe and take notes...there will be more days similar to this day in the near future...the more you can understand behavior (of the mkt and individual stocks) and the items that affect those movements

just a thought

jnk

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Author: AlfaSunshine Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7860 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 12:20 PM
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I agree with you. I've been wondering, though, with billions of dollars having been siphoned out of the market in the past year or so, have a lot of really weathy investors already left?

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Author: SandyMack Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7864 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 12:24 PM
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...have a lot of really weathy investors already left?

Naw...they're just waiting on the sidelines for a "sign".

Sandy

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Author: Calabogie Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7898 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 1:29 PM
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Excellent post Sandy!

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Author: Calabogie Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7906 of 36686
Subject: Re: Beware Tomorrow! Date: 7/12/2001 1:35 PM
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Another great post, this time by JNK! Good stuff and well worth reading!

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