Charmin Posted October 30, 2009 Report Share Posted October 30, 2009 YM 15 min shows the possible trend flip setup..... this looks like very pivotal area.... Looks like a moving average bounce trade sell Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 30, 2009 Report Share Posted October 30, 2009 Downtrend still intact. Anything agove 1070 and it's time to get the heck out. Link to comment Share on other sites More sharing options...
ChicagoBear Posted October 30, 2009 Report Share Posted October 30, 2009 Holy Crap !!! That CNBC "Lost MOney" vs "Rosie" interview lit off a sh*tstorm -------> Here What jagoffs. Ask the guy to speak on their show and then do everything possible to argue with him! Rosenberg spoke intelligently - made those 2 slimeballs show themselves to be the idiots they really are. Slimeball #1: "Auto Inventories; Auto Inventories!" Pubic Head #2: "I'll betcha a dinner over the markets?!" Shut that crap down! It made me mad enough I blew a little time looking at the GDP and Durable Good numbers, because they are way off. Here's what they said in the GDP report: The improvement in real GDP in the third quarter primarily reflected upturns in personal consumption, inventory investment, exports, and residential fixed investment and a smaller decrease in nonresidential fixed investment that were partly offset by rise in imports, a downturn in state and local government spending, and a deceleration in federal government spending. Indeed, some of the component numbers were encouraging. PCEs rose an annualized 3.4 percent, led by durables with a 22.3 percent jump. ... Cash for clunkers did add substantially to third quarter growth as motor vehicle output added 1.66 percentage points to the third-quarter change in real GDP after adding 0.19 percentage point to the second-quarter change. So, as of yesterday, cash for clunkers was so successful it add 1.66% to the GDP. Ok, let's see the numbers in Durable Goods leading up to yesterday. 10/28/09 Durable Goods According to the latest durable goods report for September, manufacturing is still on track for a moderate recovery. Durable goods orders in rebounded 1.0 percent, after a 2.6 percent drop in August and a 4.8 percent surge in July. ... The rebound in new orders was led by machinery which surged a monthly 7.9 percent, followed by a 1.1 percent rebound in transportation equipment. Transportation was boosted by a rebound in defense aircraft, up 12.5 percent, as motor vehicles and nondefense aircraft slipped 0.1 percent and 2.1 percent, respectively. Nope, no cash for clunkers stimulus in September. Motor Vehicles acutally fell. How about August? 9/25/09 Durable Goods Durable goods orders in August dropped 2.4, after a revised 4.8 percent surge in July. The August number came in far below the consensus forecast for a 1.0 percent gain. Excluding the transportation component, new durables orders were unchanged, following an upwardly revised 0.9 percent boost in July. ... The drop in new orders was led by transportation, which fell 9.3 percent. Within transportation, nondefense aircraft fell 42.2 percent, defense aircraft declined 10.6 percent, and motor vehicles rose 0.4 percent. Otherwise, new orders were mixed. So, there was only a .4% increase in motor vehicles = noted. How about July? 8/26/09 Durable Goods Aircraft orders and auto orders made for a surge in the manufacturing sector during July, another key factor suggesting that the recession has already come to an end. New orders for durable goods shot up 4.9 percent. Excluding an 18.4 percent surge in transportation, orders still rose a strong 0.8 percent. Civilian aircraft orders rose more than six fold while motor vehicle orders, likely boosted by cash for clunkers, rose 0.9 percent. So, in the last quarter, motor vehicles were down .1%, up .4% and up .9%. How does that add up to 1.7% of the GDP? It's just not there. If anything, aircraft and machinery had a larger impact. Still, these numbers don't even come close to justifying the "22.3%" jump in durables reported in the GDP. This is all a bunch of garbage. Cash for clunkers, by the durable goods orders, was only a moderate success at best. GDP, by the durable goods orders, is a blatant manipulation. Slimeballs #1&2 are complete morons with no clue about what they are talking about. I'd really love to take that smirk off of SB#1's face the old fashioned way! For reference, here's your recovery, compliments of Durable Goods and Cash for Clunkers: Link to comment Share on other sites More sharing options...
ChicagoBear Posted October 30, 2009 Report Share Posted October 30, 2009 You know what the really funny part is? Autos had their best month in July (+.9%). Cash for Clunkers didn't even start until July 27th! Link to comment Share on other sites More sharing options...
DrStool Posted October 30, 2009 Report Share Posted October 30, 2009 Good Morning! Welcome to Intraday Stool! Thanks to aussiebear for her daily opening! You can join the discussion by registering (PG rated user names only, please) and posting here as well. Registration is easy. Just click the Register link above, enter your email address (which you have the option to keep confidential), and enter a user name. Due to a deluge of spam registrations, I review all registrations so it may take a day or so for your registration to be approved. If you have questions about how to register and post, use the Help link in the menu bar at the top of the page. If you know others who might be interested in joining us, use the email to a friend link above the thread. Many tanks for joining us! Doc Try the Professional Edition risk free for thirty days. If, within that time you don't find the information helpful, I'll give you a full refund. It's that simple!Click here for more information. Subscribe to the Wall Street Examiner Professional Edition Precious Metals Daily, just $49 quarterly. Try it risk free for 30 days! Get this indispensable daily analysis and support the Stool! Link to comment Share on other sites More sharing options...
DrStool Posted October 30, 2009 Report Share Posted October 30, 2009 Dear Lurkers- If this forum helps you be a better trader, or just make a winning trade or two, please DONATE! And remember to designate your the Stoolie who helped you so that we can send your thank$ to them! Many tanks, Doc Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 30, 2009 Report Share Posted October 30, 2009 Downtrend still intact.Anything agove 1070 and it's time to get the heck out. But on a lot longer look, uptrend still doubly in tact..... We are inches away from getting it all in sync....in the mean time, bully has to be respected..... Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 30, 2009 Report Share Posted October 30, 2009 But on a lot longer look, uptrend still doubly in tact..... We are inches away from getting it all in sync....in the mean time, bully has to be respected..... Gonna be real interesting to to see if if the recent trend line divergence between the tick charts and the time based charts turns out to be an early warning indicator or not.... Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 30, 2009 Report Share Posted October 30, 2009 This power stick in IBM still bothering me a bit for bear case....subsequent bull flag and breakout not helping matters.... But..if bears can stop it right here, and get price back below the bull flag and the 15 min 900, da bullz should finished.... I don't think the Dow gonna make too much headway downside without the behemoth on board. Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 30, 2009 Report Share Posted October 30, 2009 IBM 5 min look.... Bears need to get the heavy bombers over the target real soon.... Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 30, 2009 Report Share Posted October 30, 2009 Been watching GS the last few days. Came back to the scene of the crime. Anything above yesterday's high and things get real dicey for the bears. Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 30, 2009 Report Share Posted October 30, 2009 GS just bounced at KEY area....if this bounce off the trendicator sticks as the trendicator comes thru the 900, and GS continues on to new highs........... Time is up...bears either have what it takes here or they don't...we should find out real soon....need da big finga over the 900 day or else..... Link to comment Share on other sites More sharing options...
swordfish Posted October 30, 2009 Report Share Posted October 30, 2009 waiting for data. three more minutes Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 30, 2009 Report Share Posted October 30, 2009 waiting for data.three more minutes a 1.75 point pop on ES as of now. Looks like a non-news event. Link to comment Share on other sites More sharing options...
swordfish Posted October 30, 2009 Report Share Posted October 30, 2009 copper is having problems lately... Link to comment Share on other sites More sharing options...
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