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Danville

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In reply to: Danville on Thursday 17/07/08 11:42pm

it had many faulse start Dan, i've been caught up few times, didn't sell all the stake then next day it turn back. don't blame yourself, you did very good job to pick it and grab at least half of the profit.

 

i did usual thing, sold big chunk but still leave some on the table to see the "river card".

not upset anymore, just accept my decission.

 

also the day still early, you never know where this nutty market will end it with. it's close to the first resistance 11400, so as you said "there always another trade".

 

nighty nigh

 

 

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In reply to: early birds on Thursday 17/07/08 10:56pm

Thanks EB. Who knows how tonight will end up. I'm just short dow now from about 11,300 after an earlier failed attempt. I've put a stop on it, and just see what I wake up to. Small loss if I'm wrong, and maybe nice gain if this was just a pump and dump.

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Hi Dan,

 

Bit the bullet and held today. I'm looking at fundamentals and can't see any financial reason to sell. Yield, PE x. Div condition of economy...

 

It's a tough market pushed by USA direction and ignoring intrinsic value. Just my radical thoughts............?

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In reply to: Mark M on Thursday 17/07/08 11:54pm

Looks like you and EB did the right thing. I honestly didn't think it would hold another day, but I guess Paulson's bazooka did the trick. The Bazooka Bounce LOL http://www.sharescene.com/html/emoticons/lmaosmiley.gif

 

I wudda thought anyone in their right mind would have covered already on these short restricted stocks. But whichever way the market is going, it always seems to go faster and longer then you think. It does love to overshoot. You can bet that come Monday, the gloves will be off, and all the other vehicles to short these stocks will be in full play.

 

This was certainly the week for financials, but we all know it was a false rally - they are still dodgy to say the least. So is it about time to switch back to resources?? Hmmm..

 

Multi-week rally or fake n bake?? Not sure yet.

 

 

Merrill results:

 

http://www.marketwatch.com/news/story/merr...D7B52460607E%7D

 

 

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QUOTE (Danville @ Friday 18/07/08 09:39am)

Hi Dan, I reckon you are spot on ........

 

U.S. Futures Fall on Google, Merrill, Microsoft Earnings Misses

 

By Lynn Thomasson and Elizabeth Stanton

 

July 18 (Bloomberg) -- U.S. stock-index futures retreated after Google Inc., Merrill Lynch & Co. and Microsoft Corp. missed analysts' profit estimates, indicating the market's two-day rally may be short-lived.

 

http://www.bloomberg.com/apps/news?pid=206...IOhs&refer=home

 

 

cheers

aus

 

 

ps I might go short now

 

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Here comes the BHP/RIO bounce as profits are taken on financials.

 

Tough to play the indices when this sort of sector rotation goes on, cuz then just tend to cancel each other out. That's why I'm playing more stocks this week.

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there always be another trade!!!!

 

look through all our banks, that seems to be the case.

not sure it will repeat last few faulse start again this time though.

 

our banks will release their earning soon enough, if some one know the date, please share it here!!!

 

aus, http://www.sharescene.com/html/emoticons/tongue.gif

 

 

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