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Below is Tom Hougaards Thoughts for the market for today
rgds
zarif

Good morning,



The Intel news caused a big gap down which was immediately bought. The low set around 1107 in the SP500 will act as the Make or Break for the time being. If the market trades below 1107 the market should head down for the count until the end of the month. Stocks are bleeding and the bounce was a pure day trader phenomenon. Later the market retested the area and held. The good news amid this bearishness is that we saw some buying in the final hour of the day.



I am basically of the opinion that as long as we are below 1116 the market is in a water fall decline pattern. I got no expectations for Thursday, but Friday looks higher to me.



Several stocks look interesting. One index that holds the key to the market is the SOX. It may be a perfect buying opportunity right here with a tight stop. If the bulls cant support the SOX here then we should much lower going into the end of the month.



It seems every morning I come in the SP500 is trading around 1112. Sooner rather than later we will break and I will go with the flow. 1108 or 1116!!! In between is day traders paradise.



Tom

MM: Just recieved an email -assuming it was from you (muralee menon) the subject header said WELL DONE but there was no other message.
Thanks
zarif

hi everyone -on a short at the moment and is going the right way -will follow it till about 3.30pm as i reckon then will see it turn possibly.

rgds
zarif

Just closed the short in profit by 30pts and have taken out a long lets eee what happens.

The longs in credit already but am going to see if can hold it till 5.15pm as i reckon it has more upside till then. If it fails than time for parachute and jump ship (or is it plane?)
rgds
zarif

closed the long 20pts in credit
Now am going to watch till 6pm when the traders come back from lunch and full of spirits - ithink they will be full of "shorts" but all will be revealed soon....

Braggert zarif.........good luck to you I'm just enviouse ;o\

Douggie - as they say "when you laugh the whole world laughs with you -but when you cry you cry alone"
Thanks anyway all i am doing is weaving in and out and acting as a scavenger among sharks and see what scraps i can collect but rest assured they take bites and can takes chunks out of us.
At the moment have opened another short and see if any good comes of it but i think around 8-8.15pm it will move higher and most probabnly friday will be higher prices so will have to plan accordingly.

rgds
zarif

would love to do what you'r doing but got gobbled up too scared and skint now to try again...again good luck ..keep in front :o)

thanks douggie -it has happened to me a few times aswell and have scars to prove it.


douggie closed the other short just for 41pts.

Now waiting for around 8.22 -8.30 to see what ops come up if any.

just opened a long from 10181 lets see what happens.

it was 10181 on the aug dow.

have left the last long open and is -45 atm. Letrs hope it bounces up tomorrrow.

zarif

Any more confident of a bounce after IBM results.

orky

orky1963
I think we shall have a rebound today (hopefully) as i have got friday as going higher and reckon around late afternoon but at close will be selling off again. so lets see what happens. Not too worried about the long as the cable long has already got it covered and in good credit.

orky1963 -watch 1100 on the snp last time it touched that it bounced 10 points.that would equate to about 100pts dow.I am not saying it will do that (it would be nice)but just the line in the sand.
I sent you an email by mam did you get it a few days ago?

rgds
zarif

Zarif

Thanks for your insight. I'm afariad I did not get your email. My address is andy.hopla@btconnect.com

rgds

orky

you could get problems with junk mail if you post your email for everyone to see!!!better to use the internal mail system only a bit of advice :-)

Mega...

Thank you Megabucks. Sound advice.

Orky