Westy,

My best guesses right now are BIDU, AAPL and GS.

All three have managed to stay afloat this morning.

Berkshire

Jeff,

You may get your fireworks this afternoon.

Berkshire

The new poll is a rough one. How many answers can we have??

Berkshire

Berk,

I like GS, it looks like a trainwreck. Also BIDU looks like it is in decending triangle. If it breaks out I will definitly get in.

Thanks.

Why isn't "all of the above" a choice?

I got it now Brian...That is a rough comparison in my book. Chart coming.

Berkshire

Well Kids, I'm off. I'm going to let ESRX run it's course today.

Someone help me. Is there some news on ag and commodities that I missed, or is it just one of those days?

Berk,

That's the problem - this argument (not us) what's happening in the market. Right now, I'm sitting in my trading tree stand - waiting for the right shot.

Am I trading right now, absolutely - more gambling with slush money - but I am trading. Am I invested - yes.

Berk,
You can't expect me to sit here and be called Brain now, do you? Cameron told you yesterday.

Let's move on Pele. Ooops sorry.

free2trade
You lost me on the MFC/ MS. Please enlighten.
thanks
dweeks

Fair enough, but I wouldn't mind being called BRAIN. personally.

Of course, Brian, no offense intended. Sorry if it got to you.

Chart shortly.

Berkshire

Westy, FSLR, JASO, SPWR, FWLT, WDC, CNX, GNK all look bearish with good potential to me.

Trader JH,

Thanks for the ideas.

Really like some of the solar plays to the downside.

dweeks,

the mfc & ms are propritary to Investools. I've just gotten the point at looking at the price, volume and one window with the MFC/MS tool. The main reason is to give me the largest verticle price pattern screen.

In fact, many times I just turn off everything but the price in three steps, 5 yr, 1 yr & 60/60min chart.

Next stop for SPX 1270 - 1275 ?

Here goes,

Imageshack took forever.

http://img169.imageshack.us/my.php?image=de1y1dctriue0.png

The KEY on the chart should give you suitable information to understand. As always...questions welcome.

Berkshire

OIH is in trouble as well. This is bad news for RIG and SLB.

Is it just me or does anyone else feel sort of badly for all of the people who don't know better and just buy stocks in hopes of them going up or giving all of their hard earned money to some institution to lose for them? I kinda feel bad for these people. Too bad they don't have Jeff to tell them otherwise. Thanks Jeff for helping us separate ourselves from that party.

free2trade,
So i take it TOS doesn't have those tools. I like your 5yr 1 yr and 60 min idea!
Thanks
dweeks

LDK is close to 52 week lows for those that are still in it. My auto sell order just kicked in for a portion of my contracts.

DL,

I certainly do. That is the main reason for my bearish banter. I just don't want people to get complacent.

I have warned my family memebers, and they are taking steps to prepare for the worst.

Your compassion seems genuine.

Berkshire

Berk, BIDU playing well. Touched that resistance line and fell.

BTW: I sae the money market numbers and investors are not as much in cash as you would think. From memory the bottom of 2002 39% in cash, currently 29%. As a more intermediate term trend trader I am very heavy in cash. I will wait until the typcial emotional bottom of the market is reached before I commit more capital.

For those not familiar with the cycle it goes like this:

(Up) Optimism, Excitement, Thrill (This is easy), Euphoria,.

(Down) Anxiety, Denial, Fear, Desperation, Panic, Capitulation (How could I have been so wrong), Despondency,

Cycle starts over.

So you tell me, where are we in the cycle?

AGU showing easy downside to 66ish (50-day moving avg & diagonal trendline support).

How about DBA? It probably broke trendline so no more longs until it jumps up again? I was waiting for a good entry to DBA but now I am not so sure it is a good idea to enter it long. It is way cheaper but there must be some terrible news in AG field obviously,.. Now that AG,
OIL and Materials are all fuc... is there anything else to go long on except EUR and gold :)...

On the other hand we should see some rally to the upside becouse we will soon enter oversold conditions, which usualy do not last very long with at least some upside rally,. Those dead cat bounces should be nice oportunity to go long some of this names,..

My take - this blog is infectious. The adrenalin to trade is like a junkie needing a fix. I find myself wanting to click on a trade.

So, I get away, not because, I don't enjoy the mental stimulus but to not get caught up in the moment.

I traded baseball cards as a kid - now that I am grown up...

I am an investor

I am an investor

I am a damn good investor!

Now, I must go to my AT meeting (Traders Annomous). At least at this meeting I can "drink" -- AA next!

FWLT I have to pound the table on this short... Breaking 200-day and coming off short-term overbought trend. Fairly low volume so far, no sign of panic or people throwing in the towel which means more downside ahead.

CF is dropping like a rock today. Glad I got out earlier.

Gecko,

To me it seems we are somewhere between Anxiety and Denial, certainly not to Fear yet. To me that says we are a long way from a bottom.

I like that cycle work, BTW.

BIDU, look out below.

Berkshire

F2T,

Hilarious and I'm with you!

X breaking down now too. Frankly the whole market is becoming a short here.

F2T,
Agree with you 100%. When I'm sitting at the computer watching the market, its the same feeling as sitting at the blackjack table which I also love to do. My trouble so far is that I follow my rules better at Blackjack!!! But I'm getting better.

F2T,

Certainly are a damn good investor. Like you said...this is a trader's market.

I am young.

I am nimble. (i can touch my toes somedays)

I am a trader, and if I have to be, I will be a day-trader.

No wonder we get different sides sometimes.

Berkshire

Where do I find the survey?

George,

Are you more profitable at blackjack than trading...if so, I see a simple solution.

Besides Gambler's Anonymous.

Berkshire

MON kicked my butt and now MOS.
I hate ag!!!

Dandle,

Left side of the blog...

Poundcake,

Sorry...I was warning of this earlier this week.

Berkshire

This afternoon (after 1:15 Eastern) should be interesting. It makes me a bit nervous everyone this thinking of being short this afternoon. I wonder if it gives the other side of the trade the opportunity to crank it up a bit, shake out the weak hands and then drop much lower right before the close?

Ags getting trounced. Got stopped out of my beloved COIN but at least it was a great run. Might get back in next week.

POT - was looking to buy at 150. Might get there today but now I'm not so sure and since I have to be gone now, it too will have to wait til Monday

Now I'm outta here....play nice, kids...

Romeo,

We have been heading down all day, so I would fully expect some sort of rally. Breadth is merely 2:1 negative, so we would like to see some more selling before we get too bearish (especially if entering at these levels).

I think we will close down pretty hard with a sell-off towards the close.

IMO.

Berkshire

Berk:

I hear you. That is what makes watching the market interesting. I have been in ESRX the past week and just got in Apple toward the high earlier today.

rb

Anyone notice the candle on FXE...Bearish engulfing at the top of an uptrend on an exhaustion gap.

Again, I have been speaking of this for almost a month now, but I really feel we are getting close.

Anywho, that could certainly be affecting our commodity plays.

Berkshire

Berkshire,
Nope, tradings more profitable and blackjack can get tiresome after an hour or two IMO

Good call on AAPL, shorting the strength.

I love it. Keep it up Romeo.

George, agreed.

Berkshire

I bet the dow closes at or above the MLK day lows.

Jeff, as to your poll, all the above. I have a decent grip on options, though I can't seem to make money. I'd love to learn about futures and currency trading though. Especially if you want to talk about grains.

Currency trading isn't something I want to do, but I wouldn't mind knowing more about what makes them tick.

Nate,

Since we are below those levels right now, I would see that as a fairly safe bet.

Berkshire

Berk,
Thanks for taking time on the DE chart. Lotsa stuff. I'll post it to discussion board where my question will be.

Berk, we could always go lower. It is Friday.

Brain,

I will be waiting there.

Berkshire