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GameStop Corp. Message Board

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  • mattewaaronz mattewaaronz Jul 1, 2008 10:28 AM Flag

    Another joyfull day comming from the Market.

    QID may be a good choice as well.

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    • Matt,

      It might be a good choice. I don't see the market doing very well in the coming months. However, we are very very oversold. It is just as risky IMO to be short this market as it is to be long. If oil drops one day than the market soars.

      Basically IMO the market is no longer trading on fundementals and instead is trading on outside events like the price of oil. That is the main reason I'm in cash. Until some event causes the market to change. I'm looking for a key reversal day, capitulation, or a major pullback in oil.

      • 2 Replies to unseennc
      • That's a good point. The market is extremely oversold at the moment. I think that we go lower, but that does not mean that we won't see a bear rally in the meantime.

        Not sure what to say/think about oil. It continues to look strong. I hope it breaks, but I am not counting on it. Things will get even uglier this fall if oil continues on this path. I live in New England and have an oil furnace. Not a fun scenario. In lieu of that, I just went out and bought a pellet stove. Anything that I can do to reduce my demand for oil is a good thing!

      • Since we seem to be in a secular bear market, I agree that over the longer term the trend will be down. That doesn't mean you can't make money on the intermediate term rallies.

        I have QID, SMN, and DTO as hedges against the downturns. Sold some of QID and SMN, will be holding the balance as a hedge against further dips. I'll be buying some QLD as a trade, if it gets to my buy price.

    • Were you the guy talking about POT a while back?...wow!

 
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