Transfer 7/26/ for 7/27/04

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I think today was more of an oversold bounce than a new leg up. Volume was light. The internals have been horrible lately (up vs down volume, new highs vs new lows) etc... I think this will be a good shortable bounce
I wouldn't say the volume wasn't light. There have only been 3 heavier days since early May on the NYSE.You may be right about it being a shortable bounce but that remains to be seen.

We'll see if we any follow thru during the rest of the week
Exactly. Follow through on high volume will be the tell.
 
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Pete1 wrote:
Tom, don't sweat it. You still have a couple of days in the F fund and the way that rallies have been gobbled up lately, you may still end up ahead by Friday. :)
Thanks Pete.It's tough to be out of the market and root for a rebound but that's where I am.I don't want to see new lows but I sure don't want the market to take off without me.:*
 
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I'm fairly new but have read the post daily for a couple of months. I've developed a highly scientific new strategy based on recent observations. I'm going to follow Tom's moves by waiting one day. Just kidding. Keep up the good work. Great site. Learning a lot.
 
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Here is an AP article that might be of interest to those with their eyes on interest rates / yields:

Rates on short-term T-bills rise
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WASHINGTON — Interest rates on short-term Treasury bills rose in Monday's auction to the highest level since 2002.

The Treasury Department auctioned $18 billion in three-month bills at a discount rate of 1.425 percent. Another $16 billion in six-month bills was auctioned at a discount rate of 1.735 percent.

The three-month rate was up from 1.330 percent last week and was the highest since three-month bills averaged 1.550 percent on Oct. 28, 2002. The six-month rate was up from 1.650 percent last week and was the highest since 1.765 percent on June 24, 2002.

The new discount rates understate the actual return to investors — 1.449 percent for three-month bills with a $10,000 bill selling for $9,964.00 and 1.774 percent for a six-month bill selling for $9,912.30.

In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, rose to 2.12 percent last week from 2.07 percent the previous week.
 
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If choosing to use market timing, I believe you and your readers wouldgreatly benefit fromthe FREE "mechanical"market timing tools for the U.S. Stock and Bond market (Applicable to Funds C, S,...and F) available at http://www.fundadvice.com.

The FREE Market Timing tools are explained in detail andwill surely be of more service thanguessing:shock:. Not to mention the website provides a lotmore FREE information and advice on retirement, allocations, etc. Definitely worth reading!
 
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$hunter wrote:
I've developed a highly scientific new strategy based on recent observations. I'm going to follow Tom's moves by waiting one day. Just kidding.
heheyaha! That's funny, because there is truth to it. I know I have prevented myself from bungling trades by "sleeping on it" and after which, decided that my idea was hare-brained.

At least you didn't suggest an "Inverse Tom Fund". :D

(hehehe...hey! If you can't laugh at yourself....then laugh at other people!)



In other boneheaded news...

Tip Of The Day: Do not forget about your open sell limit orders.

I have been expecting my WBSN to start another run-up for a month now. My target price was $40 with the possibility of raising it to $42. I got a little pessimistic during this dip and changed my target price to $36. I forgot all about it as I read WBSN's stellar earnings report last night and expected today to be quite awesometastic.

It opened at $35.81 (just two days ago it was $30.01) with a high of $38.28. I was enjoying my 16% gain today untilI noticed "SOLD WBSN $36.00" under "Today's executions". D'OH! oh....oh.... (birds fly away)

I really wanted to hold WBSN for a few months to $42-$44. Now what do I do? :? Will it digest and correct or will it run away without me? I hate these prickly snafus.
 

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