Charmin Posted May 16, 2009 Report Share Posted May 16, 2009 Tick tick tick tick.... One trader put it this way: "Market Rally Has Finished Yep, that's pretty much it for now. The bank rally faded. As has pretty much everything else. Remember, this was the "hey it's not total chaos" rally. Or the, "it's not quite as bad as we anticipated, but it's still bad" rally. I would not want to own any stocks at the moment." Neil Batho Link to comment Share on other sites More sharing options...
MrHanky Posted May 16, 2009 Report Share Posted May 16, 2009 So,What's next?....... Do we just fall apart here,or can they prop this thing till the end of june?Really hard to see us going much higher without seeing lots of sellers trying to get the heck out.. The last 2 weeks have probably seen the most issuance of secondary offerings in stock market history.The amount of capital raised is just mind blowing.I personally got offered 14 secondary deals in the last 2 weeks and probably well north of 20 in the last 30 days.There is only so much cash to go around. Link to comment Share on other sites More sharing options...
Charmin Posted May 16, 2009 Report Share Posted May 16, 2009 So,What's next?....... Do we just fall apart here,or can they prop this thing till the end of june?Really hard to see us going much higher without seeing lots of sellers trying to get the heck out.. The last 2 weeks have probably seen the most issuance of secondary offerings in stock market history.The amount of capital raised is just mind blowing.I personally got offered 14 secondary deals in the last 2 weeks and probably well north of 20 in the last 30 days.There is only so much cash to go around. If the pigmen plunger team is still waiting to build a steel I-beam under a market pullback we'll find out soon enough. Some might believe the market needs to come back to 800 on the spx. You'll know just how far the market pulls back by what the pigmen do with the banks. I kinda think they'll keep the campaign going in a trading range up to 930. The high risk area was from 930 to 1000. The bubble bulls got sucked into the market from 875 to 930. The baby bulls bought into the market from 800 to 875. Before that it was short covering. If the QQQQ is still leading, then I'd prefer to see what happens around 31.63-31.81 if it can get that far into a decline. That was the April 2 breakout. http://www.StockSharePublishing.com/ChartL..._1242441832.png Link to comment Share on other sites More sharing options...
joe3pack Posted May 16, 2009 Report Share Posted May 16, 2009 Stilll one chart looking good.....Just about every other chart looking a bit lame. Out of equities totally,just holding some gold and my last few muni's..... near-term consideration: the gold chart seems to have built a bearish wedgie. Link to comment Share on other sites More sharing options...
Charmin Posted May 16, 2009 Report Share Posted May 16, 2009 The sp futures appear to be setting up a steel I-beam at 880 with a small spring that occured late in the day. We'll have to see if that spring fails to attract bubble traders. A very good break down on Monday would break an uptrend and put us under the 875 horizontal support area. Link to comment Share on other sites More sharing options...
Jimi Posted May 16, 2009 Report Share Posted May 16, 2009 If Texas has to bailout Kali, that secessionist movement might pick up steam fast.... "Remember PG&E!!" Link to comment Share on other sites More sharing options...
joe3pack Posted May 16, 2009 Report Share Posted May 16, 2009 doc, ages ago you predictorated that houses would be bulldozed, that empty homes would welcome urban/suburban blight. now you sez there's no way out. . . youze make hello kitty scared! Link to comment Share on other sites More sharing options...
Charmin Posted May 16, 2009 Report Share Posted May 16, 2009 Just think if the pigmen plunger campaign figures it's worth the effort to bring the spx half back to 804 and create what would look like a reverse head/shoulders to form a right shoulder. If it breaks down further on Monday and has momentum I'd like to see it touch the 50dma. http://www.StockSharePublishing.com/ChartL..._1242444158.png Link to comment Share on other sites More sharing options...
Speakeasy Posted May 16, 2009 Report Share Posted May 16, 2009 In my brief scan of charts, this one sparked interest. I've been waiting for 650-750 gold for a long while. The gold weekly seems to offer measurable potential and maybe, gathering momentum. Bucky's got to show his colors soon, wave 4 or a finished abc. The gold apex deadline looks to be June 1-15. A monthly close over 950 would lend that most precious of commodities, confidence. However, the monthly is a cautionary chart me thinks, in that Basic TA would say the steep side of a triangle is most likely to be broken. Secondary indicators show a loss of momo, but there are lots of nearby resistance lines to be tested and broken if it's gonna do it. Bucky and the Yield vs the Hard & Shiney, mediated through the PD's. Doc will find the tell there. There appears to be another 40% of bank writedowns to come, ergo deleveraging and deflation. DeConfidencing is the most powerful for gold, so the relationship twixt bucky and gold should be weird and interesting. Perhaps gold is our last chance to have a free market. :lol: Without transparency (truth), nothing can be straightforward. Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 16, 2009 Report Share Posted May 16, 2009 Let's see if the trend continues..... Link to comment Share on other sites More sharing options...
mdporter Posted May 16, 2009 Report Share Posted May 16, 2009 This will warm up Shorty's heart a little bit: Mayor Gavin Newsom said Friday that 1,000 city workers would lose their jobs in the coming months to help close a growing budget deficit, a swift response after the city's biggest union this week rejected $38 million in wage concessions. The layoffs will hurt all city departments, according to the mayor's office, but will have the most drastic effect on the Department of Public Health, the city's largest agency. In addition to health care workers, recreation directors, security guards and others will lose their jobs. more chop chops Maybe next week the state government will layoff 10,000 if the tax measures fail. Link to comment Share on other sites More sharing options...
mdporter Posted May 16, 2009 Report Share Posted May 16, 2009 LA teachers getting frisky 'cause more chop chops for them are on the way. Only 68% of their students graduate from high school. Hundreds of teachers call in sick and hundreds of high school students walk out of classrooms. The teachers union president is among 39 arrested at a sit-in outside L.A. Unified headquarters. The head of the Los Angeles teachers union was among 39 people arrested Friday during a sit-in outside the school district headquarters, one among dozens of peaceful protests around the city by teachers and students outraged by plans for deep cuts in education spending. "Don't raise class size!" the protesters chanted before Los Angeles Police Department officers moved in to break up the demonstration. United Teachers Los Angeles President A.J. Duffy was among those who had raised his fist in response to police requests to disperse, and who was bound with plastic handcuffs and taken away in an LAPD bus for booking on a charge of blocking a public street. All of those arrested were later released. The protesters' ire was stoked by plans for layoffs of as many as 2,500 Los Angeles Unified School District teachers, the consequence of billions of dollars in statewide cuts to education. Not enough $$ to pay for them all. Link to comment Share on other sites More sharing options...
shorty Posted May 16, 2009 Report Share Posted May 16, 2009 LA teachers getting frisky 'cause more chop chops for them are on the way. Only 68% of their students graduate from high school. Hundreds of teachers call in sick and hundreds of high school students walk out of classrooms. The teachers union president is among 39 arrested at a sit-in outside L.A. Unified headquarters. The head of the Los Angeles teachers union was among 39 people arrested Friday during a sit-in outside the school district headquarters, one among dozens of peaceful protests around the city by teachers and students outraged by plans for deep cuts in education spending. "Don't raise class size!" the protesters chanted before Los Angeles Police Department officers moved in to break up the demonstration. United Teachers Los Angeles President A.J. Duffy was among those who had raised his fist in response to police requests to disperse, and who was bound with plastic handcuffs and taken away in an LAPD bus for booking on a charge of blocking a public street. All of those arrested were later released. The protesters' ire was stoked by plans for layoffs of as many as 2,500 Los Angeles Unified School District teachers, the consequence of billions of dollars in statewide cuts to education. Not enough $$ to pay for them all. screw 'em they're not needed they simply cannot compete with the private sector they certainly cannot compete with the best of the best world-class teachers from around the world CA is full of useless people who think they are owed a living -- mrotgouge borkers, CONstruction workers, state/city/county office squatters who "work" two hours per day doing nothing, and failed public screwel leachers who can't even teach kids to read and write fire 'em all cancel and clawback all their pensions plus interest and penalties let 'em eat dirt if they protest then send them all to aSS-pounding prison average 12-year-olds in China and India now score higher in ENGLISH, math and science than the average dumbed-down U.S. high school senior, who has zero chance of competing in the world job market Link to comment Share on other sites More sharing options...
shorty Posted May 16, 2009 Report Share Posted May 16, 2009 GM, Ford and Chrysler have been whipped by Honda and Toyota. GAME OVER. Shut 'em down. Shut 'em all down. They're not needed. Link to comment Share on other sites More sharing options...
shorty Posted May 16, 2009 Report Share Posted May 16, 2009 Starbucks has been whipped by McDonalds. Shut it down. Link to comment Share on other sites More sharing options...
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