All right, the votes are in!
I appreciate so many people voting - well over 600 took part in the first "Technical Analysis with Tim Knight" poll, and the results are illuminating.
The first question was to address whether or not anonymous posters should be allowed to comment on this blog. I've flip-flopped on this decision (alone) many times. Sometimes I open it up to anonymous posters, since it increases the activity of the comments section and makes it easy for everyone to post. But then, once a few bad apples spoil things for everyone else with abuse and pointless put-downs, I decide to shut them off again.
So I decided to take this issue to the voting public. Watching the results was like watching a horse race. It was neck and neck for a long time, then "Ban Anonymous" starting to take hold. In the end, the majority voted to eliminate anonymous posters. I guess the verbal fistfights got to be just too much. So.......you have to be a registered user to post here. That definitely means the comments section will be a lot less active, but it will by the same token be a lot more civil.
The next question I asked was how to improve the blog - - unfortunately, I only gave three choices: more index analysis, more stock analysis, or a reduction in the comedy. I didn't include a forth choice, "Everything is Fine", which apparently a lot of people would have checked had they been given the chance.
Those that clicked Other entered nearly one hundred specific suggestions, most of which were along the lines of "Leave it just the way it is." So - - will do!
Finally, out of curiosity, I wanted to see if the readers of this blog tended to be bulls, bears, or simply rational non-animals. It seems that most people claim to be agnostic, neither bullish nor bearish. I guess this is similar to asking whether a person is liberal or conservative, and they answer "economically conservative and socially liberal." It's a nice, safe middle ground. So be it.
In spite of the Dow's strong run today (and its continued attempts to crack 13,000 - - come on, can't you get it over with?!?!?) the Russell is still looking good on the short side.
And the Gold and Silver index continues to behave nicely within its descending channel.
I entered a new short today, CRR.
I don't have a position in CRS right now, but it looks like a potential short, since an otherwise beautiful bullish pattern isn't seeming to catch fire - - added to which, the volume has been slowly dying down for over a year.
I like the looks of MicroStrategy (MSTR) for a short position too.
...same story with MWP. As you can see, I'm using a trip of moving averages to help drive home the waning momentum.
As for ONT, the stock I keep mentioning as a long - - it continues to look good, and on sensational volume. Remember my cautionary tale from yesterday, though.
Lastly, my X puts finally started pushing up in price. It's about time.
Everyone is obsessed with 13,000. As I said, I (strangely) want to cross it. "13k and out of the way", so to speak. I imagine once this barrier is crossed, people will check that off their list and start selling into it.
Tuesday, April 24, 2007
All right, the votes are in!