K Wave Rider Posted January 16, 2007 Report Share Posted January 16, 2007 Bully not givin up much... Link to comment Share on other sites More sharing options...
wndysrf Posted January 16, 2007 Report Share Posted January 16, 2007 Dow breakout parade continues. Link to comment Share on other sites More sharing options...
wndysrf Posted January 16, 2007 Report Share Posted January 16, 2007 I'm watching NEW. Unable to make new lows despite the bad lender news today. Ripe for a squeeze play. Link to comment Share on other sites More sharing options...
robin hoodlum Posted January 16, 2007 Report Share Posted January 16, 2007 oh no , cnbs has a short term bear stooge.... calling for 7-8% correction.. whats that? Link to comment Share on other sites More sharing options...
wndysrf Posted January 16, 2007 Report Share Posted January 16, 2007 Good riddance to this company. John Thompson was constantly pumping his company on Kudlow's show last year. Link to comment Share on other sites More sharing options...
wndysrf Posted January 16, 2007 Report Share Posted January 16, 2007 IBD Mo-Mo Link to comment Share on other sites More sharing options...
K Wave Rider Posted January 16, 2007 Report Share Posted January 16, 2007 After hovering for a good portion of the day, FTSE went out on it's nose.... Link to comment Share on other sites More sharing options...
K Wave Rider Posted January 16, 2007 Report Share Posted January 16, 2007 Amex Comp with potentially key spike high... Link to comment Share on other sites More sharing options...
K Wave Rider Posted January 16, 2007 Report Share Posted January 16, 2007 Bully just flinch? Link to comment Share on other sites More sharing options...
LeeWhee Posted January 16, 2007 Report Share Posted January 16, 2007 Alan Farley is Realmonkey.com's house T/A eggspurt (sic). He's been bearish on retail for technical reasons. Now all of a sudden, he's switched gears from bearish to bullish. A technical call from a technical guy? Not really. He's become a funnymentalist. Says that lower earl prices must be driving the retailers higher: "Here's my apology for being too bearish on the group and calling for a breakdown by the end of 2006. Now the danger has passed (sic) and speculators are placing fresh bets that plunging energy prices will encourage shoppers to reopen their wallets in the first quarter." "It's obvious (sic) that pump prices will correlate directly to retail performance in 2007. Simply stated, consumer spending should (sic) continue to perk up as long as crude oil prices stay weak or get weaker." Leaving aside the humorous notion of a chart guy becoming an eggspurt on the relationship between earl and retail, take a look at the chart of DJUSRT (broadest measure of retail) and WTIC (earl). See any correlation between the price of earl and the price of retail stocks? "Simply stated", as Farley would say, there ain't none. If anything, you could make a stronger case that, over the past eight years, retail and earl have moved more or less in tandem. The higher the price of earl, the better retail stocks have done. And vice versa. There have been a couple of times when a high in earl correlated to a low in retail stocks (March 2003, July 2006). But those were broad stock selloffs, not just retail selloffs. Methinks Farley should best stick to da charts. Link to comment Share on other sites More sharing options...
K Wave Rider Posted January 16, 2007 Report Share Posted January 16, 2007 Rut not lookin' so hot either Link to comment Share on other sites More sharing options...
wndysrf Posted January 16, 2007 Report Share Posted January 16, 2007 Put/call last 3 half hour sessions: 1.05 1.11 1.08 Watch 'em drive it up over 1.20 if the Dow goes down more than 50 points. OpEx shenanigans. Link to comment Share on other sites More sharing options...
wndysrf Posted January 16, 2007 Report Share Posted January 16, 2007 That last downdraft was accompanied by another searing, intraday surge in the REIT stocks. Link to comment Share on other sites More sharing options...
LeeWhee Posted January 16, 2007 Report Share Posted January 16, 2007 Trannies are unreal today..... <{POST_SNAPBACK}> Technical b'out on the XAL works about 5-6% higher. Should take a siesta at that point. But who knows. <{POST_SNAPBACK}> Another 125 points on the trannys to a new ATH and a confirming bull market signal for the Dow Theorists <{POST_SNAPBACK}> Probably as good a sell signal as any. Link to comment Share on other sites More sharing options...
K Wave Rider Posted January 16, 2007 Report Share Posted January 16, 2007 QID tryin' to put in J-Lo... Link to comment Share on other sites More sharing options...
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