Comments on: Wild Days

By: jakester

jakester — Wed, 26 Nov 2008 01:36:55 +0000

DOW put in its first consecutive 3-day gain since August 25. New bears should tread very carefully as many of the 2x inverse funds including SRS/SKF put in very nasty reversal sticks on Monday.

By: DL

DL — Tue, 25 Nov 2008 17:23:47 +0000

Prieur du Plessis @ 9:30

“For what it’s worth, the major US indices need to rise by the following percentages to get to the 50-day moving averages…”

That’s misleading. It may be true that, e.g., the SPX is 16% below its 50 DMA. But that doesn’t mean that the SPX has to rise that much to get to its MA; the MA will continue to fall even if SPX remains at the 850 level.

By: CPJ13

CPJ13 — Tue, 25 Nov 2008 15:31:34 +0000

I will probably reload my long SKF/SRS/SDS play sometime on Friday; and it’s with Options. Yeah, I’m a sick bastard…

By: Mannwich

Mannwich — Tue, 25 Nov 2008 15:25:36 +0000

Sorry, freudian slip (or just typo) – meant to type, a lot of “FUN”.

By: Mannwich

Mannwich — Tue, 25 Nov 2008 15:24:59 +0000

Speaking of “a lot of fund”, am looking for another opportunity to pick up SRS and maybe SKF again. Just biding my time.

By: catman

catman — Tue, 25 Nov 2008 14:46:55 +0000

The 9 to 1 up and down volume thing has been getting trampled in the stampede as well I believe.

By: Prieur du Plessis

Prieur du Plessis — Tue, 25 Nov 2008 14:30:05 +0000

For what it’s worth, the major US indices need to rise by the following percentages to get to the 50-day moving averages:

Dow: +11.1% (9,377)
S&P 500: +16.3% (991)
Nasdaq: +20.0% (1,766)
Russell: +26.3% (552)

And to get to the November 4 highs:

Dow: +14.0% (9,625)
S&P 500: +18.1% (1,006)
Nasdaq: +20.9% (1,780)
Russell: +24.9% (546)

It is guesswork, but should the bullish seasonal tendencies hold true on this occasion, these could be initial rally targets.

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