newborn

[ninner]

I DONT know of any bat or diamond pattern...but we are going down to the 64 swing point and with this volume probably blow through that into the 50s imo.....these stocks are in trouble LOL

[riverbabe]

river,
Maybe I came up with "the bat" but I still think it's not a good sign. Doesn't Bulkowski actually give percentages of success for different patterns or am I confusing him with somebody else?

------------billyjoe

No confusion. That's him. It does sort of look like a bat though, you're right! If that is a diamond top pattern, 59% show a pullback, with 79% meeting predicted price target, and the average decline is 21%, with most likely decline being 20% (am rationalizing that the decline is taken from the right hand corner of the diamond). NBB can you help out here?

[billyjoe]

river,
Maybe I came up with "the bat" but I still think it's not a good sign. Doesn't Bulkowski actually give percentages of success for different patterns or am I confusing him with somebody else?

------------billyjoe

[riverbabe]

Looking again at Bulkowski, does MER qualify as a "diamond top?"

[riverbabe]

The gods are all demons: read 1 Cor. 10:19-20. Forget about them.

May the Lord favor your short. That's more like it.

Glad you are in the shorting business. That's the place to be right now.

Somehow I think the Lord has more important things to be concerned about. Thanks for your MER analysis and thanks to ninner too for bringing it to our attention! River

[riverbabe]

river,
Holy cow ! It's the elusive flying bat formation again. I'm no technical analyst, but I believe Bulkowski has said the "bat" is always a bad sign for longs and therefore good for you,river.

----------billyjoe

billyjoe, no where in Bulkowski can I find a "bat"! Is there another name for it? Anyway, here's the daily for a year.

[ninner]

spx puts

hey newborn...what do u think of waiting and then buying some SPX puts maybe the september 1500....personally i think we are setting up for a ABC down and test the 1363 low...... and for MER i pulled the daily chart back to Aug 2006 and im fairly confident we are going to test the lows there and i think we will test them with wayyyy too much volume which will push the stock even lower.

cheers

[ninner]

MER is pushing the lows with volume.....its going alot lower!!!

cheers

[billyjoe]

river,
Holy cow ! It's the elusive flying bat formation again. I'm no technical analyst, but I believe Bulkowski has said the "bat" is always a bad sign for longs and therefore good for you,river.

----------billyjoe

[New-born baby]

Shorted MER today at 74.10. My second short ever. May the gods favor me please. River

The gods are all demons: read 1 Cor. 10:19-20. Forget about them.

May the Lord favor your short. That's more like it.

Glad you are in the shorting business. That's the place to be right now.

[riverbabe]

MER is a pretty ugly chart these days. Descending triangle breakdown . . . $57- target. I really think she'll see $40 sooner or later. Just mud fence ugly chart. I think I would have bought the in the money puts, though. You're giving up $5+ by buying an out of the money put. Next real support is $65.
"Short any strenth." Today's retest of the $78 resistance was the place to short it down.

Shorted MER today at 74.10. My second short ever. May the gods favor me please. River

[ninner]

thanks

yes newborn,...55 will give me a nice trade....i should have did the 75 i was debating...i didnt get in at a good price this morning...i was up last night studying charts and didnt get up early enough...thats the bad thing about living on the west coast.....need to be up by 630 am.....oh well we will see how this unfolds but with this volume it could go lower than 55 ..should be alot of trading ops.

cheers

[New-born baby]

hey i bought the MER Oct 70 puts..i figure these will be down alot more by october than now....i read somewhere that the last minute buying surge was done by programmed trading ...what are they talking about???


thanks bud

MER is a pretty ugly chart these days. Descending triangle breakdown . . . $57- target. I really think she'll see $40 sooner or later. Just mud fence ugly chart. I think I would have bought the in the money puts, though. You're giving up $5+ by buying an out of the money put. Next real support is $65.
"Short any strenth." Today's retest of the $78 resistance was the place to short it down.

Here's the weekly chart:

Shot at 2007-08-01

[ninner]

thanks newborn

hey i bought the MER Oct 70 puts..i figure these will be down alot more by october than now....i read somewhere that the last minute buying surge was done by programmed trading ...what are they talking about???


thanks bud

[New-born baby]

hey newborn...any good option put plays for the brokers..im looking at Oct 75 dollar puts...what do u think????

the brokers and banks are kaput. Post your symbols, and I'll chart 'em.

See these wild swings in the market? Up 150 today; down 150 points tomorrow. That is indicative of a market top. The bull is dying, and he's thrashing around quite a bit as he dies.
Thanks!