Charliss Posted February 20, 2003 Report Share Posted February 20, 2003 Glad, Your opening story was the basis of the film Magnolia, which opened with this very thing happening. It established the theme for all the variations that then became the plot. Sort of like the market. Everyone have a great day... Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2003 Report Share Posted February 20, 2003 GF Just looked at your gold chart on page one. Is that uptick for real? What happened? Went up $4 in a few minutes. Link to comment Share on other sites More sharing options...
crooked_analyst Posted February 20, 2003 Report Share Posted February 20, 2003 Okay Doc & SG (anyone else for that matter) Assuming the E-waves and TA to be correct. Could the abberations in the numbers that are considered hysteria actually be a "Short" that has "gamed" the number in hopes of a better postion or profit. example: If 25.30 is the target number and I'm looking to short at 25.35 because I'm either not quite convinced, i'm greedy or I simply don't follow EW or T/A, could this explain the overage? Likewise, if someone asks 80 for Ibm and I short 1000 of them at 80, didn't that go off as a buy - I met his ask and while my trade was a short, it would appear that I jumped up and met his ask...true? Lastly, could the adv/dec ratio be skewed because of the high level of shorting that is currently in play...could also explain the proposed rule changes on shorting....thoughts? Link to comment Share on other sites More sharing options...
Ned38 Posted February 20, 2003 Report Share Posted February 20, 2003 Uncle Buck in the crapper Link to comment Share on other sites More sharing options...
MrHanky Posted February 20, 2003 Report Share Posted February 20, 2003 stocks pulling back pretty fast before the bell Link to comment Share on other sites More sharing options...
cyclist Posted February 20, 2003 Report Share Posted February 20, 2003 Those #s are horrible...and as a bond person I can only cringe. But, here is Briefing.com's take: 08:34 ET Data worse than expected, but not that important : All three 8:30 reports were worse than expected, though they are not likely to change the market's perspective. Claims rose to 402K, but the moving average remains below 400K and there's no reason to believe that this one week's swing is indicative of any change in trend. PPI was much higher than expected, but no one will believe that inflation is suddenly a problem given the sluggish economy; more likely this is a statistical aberration. Finally, the trade gap widened significantly to $44.2 bln. Though the market doesn't tend to key off of the trade data, this might be the most notable report, as it might point to continued downward pressure on the dollar. Overall, though, these reports are unlikely to have much impact. As a bond guy also I can only think we are looking more and more like an emerging market!!!!! Link to comment Share on other sites More sharing options...
ShamPoo Posted February 20, 2003 Report Share Posted February 20, 2003 Merrill's upgrade of several semiconductor names, which follows on the heels of Morgan Stanley's sector upgrade yesterday, continues to offset the disappointing economic data released at 8:30 Link to comment Share on other sites More sharing options...
GregFokker Posted February 20, 2003 Report Share Posted February 20, 2003 Gold spiked on PPI data, balance of trades data and Initial claims. ALL bearish for buck, bullish for gold. Link to comment Share on other sites More sharing options...
simple guy Posted February 20, 2003 Report Share Posted February 20, 2003 Rule changes on shorting are more for less liquid small caps that can be attacked by those who are manipulating the stocks themselves with naked shorts... doesnt effect liquid caps... 25.35 is a slight spillover, but I always allow a few pennies anyways. Before the week started, I predicted 25.30 ish as a 78.6% hysterical retrace of the 1039 to 938 NDX downleg we saw.... it formed a bullish wedge, which I should have caught. I figured we were going to 909 or so... so I was off a scosh and DID NOT cover into the wedge... normally I would have. That said.... 1020 is a nice 78% retrace, we may bump our heads on her again today likely.... I am adding another 35,000 to my 200% short at 4pm tonight via the Rydex Tempest fund (Already have too much in Venture). Tomorrow the reversal should occur in line with Saturn going direct, Fibo turn window at +2 days by then already (from the 19th), and the public mood is ready for a downshift... I could be wrong... Link to comment Share on other sites More sharing options...
rog Posted February 20, 2003 Report Share Posted February 20, 2003 This news is not noise. Although it may take some time to sink in. Anyone listening to earnings calls heard many tales of woe re: inflation. Such companies as Kraft, Philip Morris, Interstate Bakeries, Goodyear, GM, Ford, Albertson(grocery store) and General Electric have been crying for several quarters now. This a driect result of balls to the wall money printing and will be reflected, negatively, in bond prices and equity prices. By the way the fed model will soon be flashing a neon sell signal. Link to comment Share on other sites More sharing options...
Oyster Posted February 20, 2003 Report Share Posted February 20, 2003 Good day folks in Stooland, Theory and planning of it for today as follows......high morning 1010-1105 EST low afternoon 1500-1530......we will know whether correct after 1st hour....I am into this day with daysshorts built up.....we could see a nasty crack down just when some mayb looking for a small 5 up...HeeHee...Good Trading...and Rock and Roll Link to comment Share on other sites More sharing options...
simple guy Posted February 20, 2003 Report Share Posted February 20, 2003 One other rant KGC was in uptrend all day yesterday til last half hour.... GG is breaking out this morning... Im smiling on my gold position, natural resource stock position, cash positions, and short positions.... Are you? Link to comment Share on other sites More sharing options...
Takachi Posted February 20, 2003 Report Share Posted February 20, 2003 Energy costs are sucking up fiat all throughout the system. That scenario we've discussed for years: inflation at the necessity level and deflation on debt required items is showing up. The irony is that the increased dollar denominated energy production shows up as an increase in overall production - even though it adds nothing to the system. To the extent that it is news, it doesn't matter. To the extent it stops economic activity it will inexorably show up in the charts. Al is going to have to pump even harder to less and less effect. I hate that we are right! Link to comment Share on other sites More sharing options...
GregFokker Posted February 20, 2003 Report Share Posted February 20, 2003 Total Money Value of Operation (In $Bil.) 5 That does the 28 day rps. 17.5B to go. Link to comment Share on other sites More sharing options...
Goldmember Posted February 20, 2003 Report Share Posted February 20, 2003 This is now the stage that things become just a wee bit foggy for a prognostication. Freshly launched cycles on the 14th were initially very easy to predict. But now, with a few conflicting cycles, like the 5 day heading down and the 8 day topping, it makes me wonder if they cut off the fresh 3 day. Any down action by the 5 and 8 would also be mitigated by the still fresh 13 day and 4-7 week up swings. Now that everyone is THOROUGHLY confused, myself especially, still on a dong from yesterday pm. But she is a psychotic schizo so who the hell knows. These are all paper trades for me so don't follow my action. I am merely testing my scam week proficiency. Having much fun so far. Still a lot to learn, as ever! Link to comment Share on other sites More sharing options...
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