Jump to content

Archived

This topic is now archived and is closed to further replies.

Guest

Lost And Found Department

Recommended Posts

Guest

Good morning, everyone.

 

Late last night I ran across a most interesting article in the November 10 New York Times Week in Review section about how modern technology is now able to locate things on the bottom of the sea that were previously unfindable.

 

After talking about the discovery of the Titanic, The Bismark and Gus Grissoms Liberty Bell space capsule, the article ends by saying that:

 

All too often, finds of human artifacts are anything but uplifting. Explorers report sightings af tires, coke cans, tennis shoes, plastic trash bags and all manner of detritus. The junk is spurring efforts to clean up shipboard life. Karen L. Von Damm, a marine geochemist at the University of New Hampshire, was exploring the deep Atlantic more than a mile down when she came upon an abandoned toilet.

 

"It was this white thing in the distance." she recalled. "The seat was still attached and up."

 

Now wouldn't it be interesting if on some future expedition a stock ticker tape machine of 1929 vintage was discovered on the bottom?

Share this post


Link to post
Share on other sites

SG chimes in

 

Well, last Wed morning I covered my QQQ 200% shorts at the 1045 print, citing room for a major move up left yet. Better safe than sorry.

 

On Friday I posted some targets

QQQ- 30

SPY 955-970

Dow 9200-9300

NAS 1520-1530

 

 

Now, I have also posted that I am open minded enough and smart enough to read a chart and not FIGHT THE TAPE.

 

The NDX could see 1200 plus easily... Q's could get to 31-32 range as well before topping.

 

One thing is for sure, the rally is finishing up its final legs upward. The main scary index is NAS... if she is retracing from January highs then we may be looking at 1620 plus.

 

Im out for now... and watching. Holding 3 small cap long positions, all profitable and holding

Share this post


Link to post
Share on other sites

A very good reminder of the problems ahead from our boy Bill Fleckenstein

 

Fleck's take on the Bear rally

 

One of the few brilliant anal cysts out there IMHO. In addition to the Comstock Partner boys, who write a comment nightly, and have beat the SP 500 the last 1, 3, 5 years...

Minter and Weiner of Comstock Partners Funds

Share this post


Link to post
Share on other sites

A few simple ideas to keep you out of trouble

 

The QQQ's topped out in January around 42. They fell to 20. A 50% retracement places them at $31. A 62% retracement at 33 ish...

 

They are at 28.39. Just a thought lest you be salivating to jump in... they passed the 38% retracement level already... so you need to assume $31 or close, IMHO

 

There is June congestion at 28-30, but you can see the 31-33 range as possible...

post-3-1038836266_thumb.jpg

Share this post


Link to post
Share on other sites

Looks like Machinehead had it exactly right. The question is how this will impact gold- it's down in USD, of course, but should rocket in other currencies.

 

From Bumberg.com: The yen was set for its biggest drop against the dollar in 2 1/2 years after the Mainichi newspaper's Web site quoted Japanese Finance Minister Masajuro Shiokawa as saying the currency should weaken as much as 23 percent.

 

NDX Future

nd_futures.png

Credit: http://money.cnn.com

 

S&P 500 Future

sp_futures.png

Credit: http://money.cnn.com

Share this post


Link to post
Share on other sites

All we need now is an announcement that UAL avoids bankruptcy and it will shift into hyper drive. On the other hand, if it goes the other.

Share this post


Link to post
Share on other sites

When a sound file is embedded on a page, it plays when the page is opened. The first page of the thread tends to stick around longer because there are fewer posts early. You can shorten the page length from the default of 20 posts per page down to as few as ten, in the Borad settings section of "My Controls".

 

I will use fewer sound effects. They get on my nerves too. (I turn the speakers off.) :lol:

Share this post


Link to post
Share on other sites

Final post of the morning

 

Q's about to break out of a 6 day base on likely above average volume... reminds me of the days when I used to read Bill O'neil. Everyone should know I was a RAGING BULL in the 90s... and still remember how to read a chart and not fight the tape.

 

Ignore at your peril, bearish or not...

post-3-1038837109_thumb.jpg

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Al E. Greenspeuman designer line at Stoolmart. Get yours today! Click here now!

    Support your local Stool Board.

×
×
  • Create New...