DrStool Posted July 24, 2007 Report Share Posted July 24, 2007 While you guys are remembering 1997, I'm remembering 1967 and 77. I was really surprised that no one recognized those Dow charts of 1972-74 over the weekend. Those patterns are indelibly etched in my brain for all time. Funny thing is that during my first 15 years of involvement with the market it swung both up and down, and the majority of stocks either did poorly, or went nowhere. It's probably why it's so difficult for me to get unqualifiedly and enthusiastically bullish. My upbringing says that it can't last. 593144[/snapback] In those days the only charts over here were Hoppenstedt charts by country or general at about 35$ for one booklet per month And I had a tape recorder I put a clock on so that at midnight I could get the closing of the US market from the American Forces broadcast out of Germany Then by hand I would continue the charts for about three months and buy a new set 593173[/snapback] How well I remember. Here, we had Trendline, Mansfield, and Chartcraft (point and figure.) I kept my own charts on paper as well. In 1982, started charting with Metastock on an Apple IIe. Also that year I had a programmer at the brokerage firm I was with write a MACD charting program on the office mainframe that we could use on our terminals. We were state of the art at that time. We were preaching all about positive and negative divergences to a handful of institutional clients. Those were the days. 593179[/snapback] Sounds like heaven compared to the caveman days when they had to draw charts using stone and a chisel. Not to mention, schlock prices were only updated once every 500 years. And there was only one schlock to trade, Amalgamated Fire. When the ice age hit, Amalgamated Fire took off like a stuck ape. And when the iWheel was invented some millennia later, the bull market began in earnest. 593180[/snapback] How well I remember. 593184[/snapback] If I recall, weren't you short FIRE and WHEEL, Doc? What a short squeeze that was. 593187[/snapback] Oy. You had to remind me. Had to remortgage the mud hut. Still paying it off. 593196[/snapback] I believe the correct name for the small investor/consumer in those days were Neanderthals. http://www.maxilofacial.info/images/neanderthal.jpg on the other hand the Pigmen were known as Cro Magnons. http://www.freakingnews.com/pictures/6000/...n-Man--6243.jpg The Cro-Magnons must have come into contact with the Neanderthals, and are often credited with causing the latter's extinction, although morphologically modern humans seem to have coexisted with Neanderthals for some 60,000 years in the Levant and for more than 10,000 years in France. 593208[/snapback] And now they are doing commercials for GEICO. Ole Warren (Which Way To The) Buffet knows how to get the most out of people. Link to comment Share on other sites More sharing options...
LeeWhee Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] ouch! had to let go. 593209[/snapback] I sold my position for a couple dollars this am , going to wait for this 2632 level Lee talks about 593211[/snapback] The biggest losers today remain the finagler complex. It's hardly news that these schlocks have been weak. The hotsy-totsys (submerging, energy and---more recently---technology) are barely red. We won't see real selling in the technos until Nard 2632ish is in the rear-view, IMO. The SPX is 21% finangler and Rusty is 22% finagler. The Dow is only 15% finagler and the Nard has practically no finaglers (by weight.) So I distrust a selloff that is "more of the same" while the hotsys stay perky. Link to comment Share on other sites More sharing options...
DrStool Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] ouch! had to let go. 593209[/snapback] I sold my position for a couple dollars this am , going to wait for this 2632 level Lee talks about 593211[/snapback] If you were following my comments in the WSE trading forum this morning I had the QQQQ hitting the 3 day cycle projection and subsequently failing to break support. A good cold blooded trader would have taken his profits there, but NOT MEEEEEEE!!!!. NO I had to give half of it BACK, HOPING FOR THE CRASH! :lol: Link to comment Share on other sites More sharing options...
Ageka Posted July 24, 2007 Report Share Posted July 24, 2007 Look what my favorite chop house is passing off as research. I love their target price of $50. Check out those 2008E earnings of $5 per share. 593192[/snapback] Oh but Credit Suisse makes those beautifull crisp and numbered gold bars welded ultrasonically in plastic Link to comment Share on other sites More sharing options...
Schonthaler Posted July 24, 2007 Report Share Posted July 24, 2007 Say goodbye to our old friend SPX 1532, shanker-style. If/when the more important Nard 2632ish gives way, time for bully to close up shop for a while. Crooks still have downside 30+ pts to play with on the Saq. 593171[/snapback] ******************* LeeWhee: you have our undivided attention on 1532 and 2632. Funny how the last two numbers are the same. I think, not sure, you may a great observation that the crooks may take one or both down below these key numbers and possibly reverse to the upside? Maybe end of month window dressing, just in time for statements? It would make sense to give a big head fake to all da bears, like me, only to try to hit the previous highs? If I could just become an agnostic chicken as apposed to a bull or bear. Oh well. I feel like a little kid. It is like a mystery, "who done-it", story. Anticipation. I think they had a ketchup commercial gingle around the word, anticipation. Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted July 24, 2007 Report Share Posted July 24, 2007 Has it been a month already since the Apple phone release? Every fanatic that had to have his new toy has one now. The rest of the buyers who want value and spend their money efficiently will shop elsewhere. I think'in sideways then they start lowering the price and that will be all she wrote as competition catches up. Link to comment Share on other sites More sharing options...
potatohead Posted July 24, 2007 Report Share Posted July 24, 2007 This was not schedueled. He was supposed to be in Washington to give remarks to Business Taxation and Global Competitiveness conference in Washington. I guess he is trying to plug the widening holes in the dam before it breaks WASHINGTON (Dow Jones)--Treasury Secretary Henry Paulson will travel to China at the end of this week, where he plans to discuss trade and currency issues, among other economic topics. "This trip is part of an ongoing process to strengthen our strategic economic relationship - to address long-term issues such as working with China to rebalance its growth and increase the flexibility of its currency," Pauslon said in a statement. He is also expected to talk about "issues of concern to the U.S. Congress" while in Beijing. U.S. lawmakers have threatened to impose penalties on China if Beijing doesn't allow its currency to appreciate. U.S. lawmakers say China unfairly manipulates the value of its currency in order to cheapen the cost of China's export goods. (MORE TO FOLLOW) Dow Jones Newswires Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted July 24, 2007 Report Share Posted July 24, 2007 US$ is not even trying to recover. Link to comment Share on other sites More sharing options...
elh Posted July 24, 2007 Report Share Posted July 24, 2007 Looks like anybody shorting any company in the financial sector was a winner today. Link to comment Share on other sites More sharing options...
sandy beach Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] we are in a bear market ?? i am being serious. wHY? 593203[/snapback] They say, "There's always a bull market somewhere." I guess there's always a bear market somewhere too. Here are a few of the grinding, multi-year bear markets right now... 593210[/snapback] Exactly, let's not forget our good friends the materials. Materials are right up there as well. Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted July 24, 2007 Report Share Posted July 24, 2007 Holiday projections for holiday orders should be taking place about now. Not counting China-Mart it shouldn't be so merry. Link to comment Share on other sites More sharing options...
Bungster Posted July 24, 2007 Report Share Posted July 24, 2007 I'm using LSI as my canary in the NDX coal mine... As long as this holds I keep my NDX longs... Link to comment Share on other sites More sharing options...
mmoy Posted July 24, 2007 Report Share Posted July 24, 2007 Q's still seen as flight to quality. I just don't get it. I guess it will work until it doesn't. 593205[/snapback] Looks like we are picking up a few more projects at work. This is on top of the two new ones that we picked up a few weeks ago which I've been buried with. Always better to have too much work than too little work in tech. It's pretty hard to turn real estate brokers, mortgage originators and construction folks into engineers. But I wouldn't be surprised to see someone try. We have lots of tech workers on this board and I don't really recall any that don't have work or enough work at the moment. If there are, feel free to correct me. There's been some stuff that I've been reading about WiMax about some Greek company investing $500 million in an implementation. From what I've gathered, WiMax is a potential end run around the cable and telephone companies which provide most of the broadband services to consumers. Intel has done a lot of work in this area and is planning on supporting it in their Centrino mobile platform in 2008. The promise is broadband anywhere, at I assume, reasonable costs. Someone posted a link to a 267 page report talking about WiMax as a disruptive technology. I don't have time to read it but I'll give it to my son to read and then give me the two paragraph synopsis. The financials look awful today (C, GS, MER, BAC). But what's up with LEN? Link to comment Share on other sites More sharing options...
Bungster Posted July 24, 2007 Report Share Posted July 24, 2007 Nice positive divergence in the NDX 10 minute charts....waiting to see how this plays out.... Link to comment Share on other sites More sharing options...
Jetlag Posted July 24, 2007 Report Share Posted July 24, 2007 These bear market rallies can be pretty scary when you're short. I am holding my qid with a death grip. Got a little sore there earlier. 593198[/snapback] we are in a bear market ?? i am being serious. wHY? 593203[/snapback] They say, "There's always a bull market somewhere." I guess there's always a bear market somewhere too. Here are a few of the grinding, multi-year bear markets right now... 593210[/snapback] Are you charting SPX vs Randgold for any particular reason (ZAR?) or did you mean to chart $SPX vs $GOLD? Link to comment Share on other sites More sharing options...
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