Drano Posted July 21, 2008 Report Share Posted July 21, 2008 Thanky, Hanky, check your PMs too..... Link to comment Share on other sites More sharing options...
K Wave Rider Posted July 22, 2008 Author Report Share Posted July 22, 2008 What about SUNIDX? 675118[/snapback] That's an index...I'm on the lookout for a venture capital incubator with heavy concentration in that area that trades as a public stock. Link to comment Share on other sites More sharing options...
crooked_analyst Posted July 22, 2008 Report Share Posted July 22, 2008 Something will happen at 7 AM to cause the market to recover. After hours is a sideshow 675113[/snapback] Doc, with all due respect and in all sincerity, how does this differ from me saying "They" are doing this or that? The other day, you mentioned that the Charts and TA dictated the moves and i said that I tried to remain firmly in that camp but that I thought that "they" intervened in various ways. Are you suggesting that the morning will bring a natural event or is it possible that "They" will naturally bring an event to change where we open? Link to comment Share on other sites More sharing options...
Peek Paper Posted July 22, 2008 Report Share Posted July 22, 2008 Something seems a little ominous when two storm cells fill up the entire Carribean Sea, don't you think? Link to comment Share on other sites More sharing options...
Jetlag Posted July 22, 2008 Report Share Posted July 22, 2008 Weren't plastic companies immune to defaults or something? "Profit in the company's U.S. card business dropped 96 percent to $21 million from $580 million a year earlier as provisions for losses more than doubled to $1.5 billion from $640 million. Uncollectible debt in the unit rose to 5.3 percent of loans from 2.9 percent a year earlier." "``We are seeing very affluent people who have had historically very, very strong spending history with us cutting back,'' Chenault said." No more Heloc? Put it down on the plastic. http://www.bloomberg.com/apps/news?pid=206...sJjY&refer=home Link to comment Share on other sites More sharing options...
Slappy Posted July 22, 2008 Report Share Posted July 22, 2008 Just a mention of TAN, a solar play ETF for you KW. It's at what appears to be a last chance bargain level. Other than this being my usual busy as H season, I'm endeavoring to persevere through the process of a LASIK correction on my eyeballs. Had the surgery last Friday, was in my junky old glasses for a few weeks prior, and it looks like I still have a week or so before I can actually see the computer well enough to keep up. But the change is just fabulous! Even still, with my limited faculties, it sure does seen like the lights are starting to go out on the world as we knew it. And yet, I feel fine. Link to comment Share on other sites More sharing options...
Jetlag Posted July 22, 2008 Report Share Posted July 22, 2008 I sense a lengthy post about TA vs the PPT is coming. Quick run for cover! Two conflictive forces battle it out in the stockmarket Link to comment Share on other sites More sharing options...
DrStool Posted July 22, 2008 Report Share Posted July 22, 2008 Doc, with all due respect and in all sincerity, how does this differ from me saying "They" are doing this or that? The other day, you mentioned that the Charts and TA dictated the moves and i said that I tried to remain firmly in that camp but that I thought that "they" intervened in various ways. Are you suggesting that the morning will bring a natural event or is it possible that "They" will naturally bring an event to change where we open? 675122[/snapback] My point was that the after hours are a sideshow. My daily charts do not include non market hours. Of course there's manipulation, especially when the regular markets are closed. That's why I give it little weight. If you are trading by the minute and the hour, and can play in this sandbox, the minute charts or even tick charts will work. TA doesn't dictate anything. It doesn't govern. It reveals. If you are always concerned about some evil forces manipulating against you, I dare say that that makes it more difficult to trade effectively. My observation is that the most successful traders on this board spend a lot more time discussing support, resistance, moving averages etc. than they do talking about "pigmen" and others who would manipulate the market to their detriment. The fact is that big institutions, hedge funds, and most certainly market making broker dealers and Specialists do trade in ways that attempt to influence the market to their benefit. I see nothing inherently wrong in that. I also don't think there's an organized effort to defraud the public, but rather that the system as a whole has that effect, mostly because people are greedy, willfully ignorant, and easily led. Shorts often trade in ways that are detrimental to their own interests. A lot of what appears to be manipulation is nothing more than panicky short covering. Those who work really hard at mastering the art of reading charts and managing their trading strategy can do very well at the game. Their secret, I think, is that they rarely, if ever, lose their focus on the patterns of trading that reveal themselves in the charts, and they are totally focused and prepared to strike when the time is right. These folks know that worrying about some group of people attempting to manipulate the market is a complete waste of time if your goal is to maximize trading profits. As for my statement that something is likely to happen by morning to reverse much of this loss, it is a simple matter of recognizing the predominance of that pattern. I don't much care who, or what is behind it. Like K Wave said, he already got his. He recognized the pattern, and he struck while the iron was hot. He's not waiting until the morning preparing to "assume the position" so to speak. He's not worried about what "they" or anybody else will do. If you have been following my chart picks in the WSE lately, I'm not allowing these interim short term moves to take me off my focus on the intermediate term indicators. I'll cover when a support target is reached, when a stop is hit, or when the indicators form a bullish intermediate pattern. (I deliberately missed an opportunity to cover at support on two of them, willing to risk a little while waiting for the indicators to signal a substantive turn.) What happens between or outside of those parameters is noise and I will assume the trend in the time frame of interest is still in force until I see evidence that it isn't. Link to comment Share on other sites More sharing options...
cwd Posted July 22, 2008 Report Share Posted July 22, 2008 My broker was tellin me to buy it yesterday.......He's so easy to fade but I still have not taken the other side of any of his stupid calls. By the way......Is there anyone here Who is a broker who is looking for a new account?Or someone here That will trade or manage my account for me?I am looking to make some major changes with my accounts but I don't want to trade it by myself.I always end up being even on a trade or with a slight loss. I need more help and more patience (Which I lack) which is tough thing to have in these markets.Anyone that can help in any way please let me know asap! 675087[/snapback] I think you will do a lot better doing it yourself, especially if you pay attention to the great traders on this board.. As you said you don't loose much. Link to comment Share on other sites More sharing options...
K Wave Rider Posted July 22, 2008 Author Report Share Posted July 22, 2008 Just a mention of TAN, a solar play ETF for you KW.? It's at what appears to be a last chance bargain level. 675125[/snapback] They have an ETF for damn near everything, don't they? That break at $26 looks a bit nasty...and not enough history yet for good feel on it. Here's the list of companies.... Link to comment Share on other sites More sharing options...
crooked_analyst Posted July 22, 2008 Report Share Posted July 22, 2008 I sense a lengthy post about TA vs the PPT is coming. Quick run for cover! Two conflictive forces battle it out in the stockmarket 675126[/snapback] To be VERY CLEAR - I AM NOT LOOKING TO START ANYTHING. It is an honest question. I'd rather be ignored on it than start any crap. The Treasonry Secretary or Bernanke can always give lip service to anyone that will listen and has the ability to grab the microphone, say something provoking and achieve an immediate panic response. It can be as simple as that. AGAIN, I am not trying to draw fire here. Link to comment Share on other sites More sharing options...
mdporter Posted July 22, 2008 Report Share Posted July 22, 2008 Wachovia Corp. confirms it is getting out of the wholesale mortgage lending business, exiting a market cross-town rival Bank of America Corp. left several months ago. That means Wachovia will no longer offer mortgages through brokers. The change takes effect Friday. In a prepared statement late Monday afternoon, a Wachovia spokesman said: ?Wachovia Mortgage has evaluated our business model in the context of the current market and recognized some opportunities to reposition our business. We believe it is important to focus on serving the needs of customers who have relationships with the bank, and who are located in geographies where Wachovia franchises are located. news link Link to comment Share on other sites More sharing options...
Drano Posted July 22, 2008 Report Share Posted July 22, 2008 I don't know about organized efforts to defraud the public, but I do know about disorganized attempts to cheat individual traders. Anyone who's see a bid or ask consistently be moved away from their attempt to buy or sell an option, and then, when they cancel the attempted trade, see the bid/ask move back to previous levels (with no significant change in the price of the underlying) can attest to this. Link to comment Share on other sites More sharing options...
Jetlag Posted July 22, 2008 Report Share Posted July 22, 2008 Anudder decoupler bites the dust, is there any left? "Japan?s department store sales down 7.6% in June" "Despite strong gains in department store sales in Shinjuku immediately following the opening of the new Fukutoshin subway line on June 14, department store sales fell 7.4% in Tokyo and 7.6% nationwide in June." "Food was the only category showing a rise in sales, and food sales as a percentage of overall sales increased from 22.7% in May to 28.4% in June. It seems hard to imagine, but could we be on a path to seeing food sales overtake clothing sales as a revenue source for Japan?s department stores?" http://www.japaneconomynews.com/2008/07/18...own-76-in-june/ And it's not gubermint data. Poor Japan doesn't have enough inflation to hide the downdraft in sales across the board like in the US where inflation is rampant but reported inflation is only single digit. Food seems to be going up globally though, maybe that Rodgers dude is right. "Japan?s June bankruptcies soar 11.7% - liabilities up 56.2%" "First, according to Tokyo Shoko Research, 1,324 firms went bust in Japan in June, which was an 11.7% rise against June 2007. The total liability left behind from these bankruptcies stood at 492 billion yen, which was a whopping 56.2% higher than a year ago." http://www.japaneconomynews.com/2008/07/11...ilities-up-562/ Link to comment Share on other sites More sharing options...
K Wave Rider Posted July 22, 2008 Author Report Share Posted July 22, 2008 Looks like the TAN pretty closely tracks that SUNIDX (duh) which has a bit more history. Potentially in a precarious position on the daily chart, after a large run to the upside.... Link to comment Share on other sites More sharing options...
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