SKF I figured it would test $140 today and sure enough it hit. This will more than likely gap and test $150 range if the market opens lower as it has for the past ten or more days. There may be a reversal tomorrow mid-morning in which case I’ll look for the short on SKF but more than likely the first dip that doesn’t create a higher high, or at least hold the previous low will continue to force sellers into the market place and bring more and more panic to the markets.
ARTW coming down on low volume watch for a dip out of the open and reversal
CBL has lost 50% in the past 3 days, keep an eye for a reversal towards $10
YGE another near 50% loser in the past 3 days watch for support near $5 if it breaks it I’ll probably buy on the dip or stop losses that market sell at $5
MHGC a previous winner for us is yet another 50% loser over the past three days. Keep an eye for support around $5 and watch for market sells if it hits, wait for a reversal and it should re test $7
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October 8th, 2008 at 9:43 am
IL – Great call on the gap up to 150 and retrace back down on SKF. Do you agree that this is a fake rally due to the cut in interest rates and if so what is a good entry price into SKF again.
October 8th, 2008 at 12:09 pm
I think it will begin to bottom in the short term after a few spikes back and forth but will settle below 10,000, and we’ll probably have another slide once the retail numbers come out in the 1st quarter of 2009
October 8th, 2008 at 12:25 pm
ZYXI finally broke down, what a crash!
October 8th, 2008 at 12:38 pm
Makret beginning a reversal keep an eye on SKF – good short if under 150 holds
October 8th, 2008 at 1:04 pm
Here we go, SKF 144 now
Market 150 points better too!
October 8th, 2008 at 1:11 pm
SKF 141 almost a $10/share short
October 8th, 2008 at 1:19 pm
Market now green if SKF loses 140 the market will probably head +100 or more on the day
October 8th, 2008 at 1:44 pm
Market +40… SKF under $139, nice short from $150 !
October 8th, 2008 at 1:56 pm
SKF $136 and market almost +100 as expected if SKF loses 140!
October 8th, 2008 at 2:06 pm
SKF $135 + 15/share short think about taking some profit here only 1/2-1/3 if you believe themarket is going to retest 10,000, I will take all because its not every day you can get a $15 dollar swing and I’m a daytrader – if you think the market is heading back to 10,000 theres a good chance SKF will be $115 around that time, good luck
October 8th, 2008 at 2:27 pm
We retest 10,000 but I think it will be the next wave down with even more force. I just want to pick up SKF at 115.
October 8th, 2008 at 2:34 pm
Hubert I agree I think 10,000 will re test because its a phychological point in a lot of people minds and before you know it CNBC will gear everything towards “when we rebreak 10,000″ etc but I think the biggest part of the move is over before a bit of consolidation … then followed by lower highs before getting ready to crater again in the first quarter, hopefully however in 6 months there will be some deep discounts, everything will be fixed and people are looking for an opportunity again
October 8th, 2008 at 2:38 pm
CBL nice 20% move
October 8th, 2008 at 2:39 pm
YGE testing a bit higher up 10%
October 8th, 2008 at 2:39 pm
MHGC up about 8% back towards the highs
October 8th, 2008 at 3:01 pm
PPC from scan here where I was looking for 15-20% bounce
http://www.investorslive.com/2008/10/01/hot-stock-scan-for-thursday-the-2nd-of-october/
October 10th, 2008 at 5:57 am
Good presentation..It will be useful….