stained jeans Posted May 10, 2004 Report Share Posted May 10, 2004 We don't have to bounce here Agree, Brian. To clarify, I began the day 85% short -- my heaviest commitment in over a year. Lightened up to 75% at the close and put a few coins in my pocket. I see three down days with volume increasing each session and a new closing low posted today on greater volume than the March 24 low. That's bearish in my book and tells me more downside coming. As for the p/c ratio -- I don't consider a 7-day MA of .99 a benign number. It's the same level that preceded the 6 percent rally in late March. At some point over the next week I fully expect to see a similar rally -- just expect a waterfall in between. As for a possible 1987-style bull trap tomorrow -- wouldn't surprise me in the least. I don't think the market was Dover Sole back then either and bears seem ripe for another thrill ride. Link to comment Share on other sites More sharing options...
stained jeans Posted May 10, 2004 Report Share Posted May 10, 2004 my dad sent it to me Wow, can't imagine what that would be like. My pop is a died-in-the-wool right wing Republican. His only saving grace in spite of this flaw is that he does understand that the government is corrupt -- just blames it mostly on the liberals. Link to comment Share on other sites More sharing options...
twignberries Posted May 10, 2004 Report Share Posted May 10, 2004 the public will never, EVER sell Five weeks ago now, a co-worker of mine sent me the ticker of a REIT fund that she had put all of her money into about a year ago. She asked my opinion of it. I told her that the fund had had a good run, but that all the ammo was spent, there was nothing left to make it go higher, and that she should sell it. Flash forward 3 weeks. I asked her how her fund was doing (50% of her gains gone). She said it was "a little more volatile", but that everything was good. Again, I recommended that she sell it, and she became a little annoyed with me and changed the subject. Flash forward 2 more weeks. Again I asked how her fund was (60% of her gains now gone). She said that it was down, but that it was "just part of the normal chart pattern" for the fund. "Uh, ya, it's called the Round Trip pattern", I said. Of course this provoked anger. You're right Doc, she will never sell. It's all so sad. Stupid, stupid sheep. Edit: The fund is AIGYX Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 Elliot Wave International points out that, on the New York Stock Exchange, a whopping 3,135 shares fell on Friday while only a meager 255 rose -- the third-worst ratio of advances to declines since October 16, 1987, the Friday before Black Monday. Link to comment Share on other sites More sharing options...
DrStool Posted May 10, 2004 Report Share Posted May 10, 2004 Putnam will be putznumb. Link to comment Share on other sites More sharing options...
brian4 Posted May 10, 2004 Report Share Posted May 10, 2004 fair value numbers are out spoo-1085.62-NazQuack-1398.47-both are well below f/value about 3.5 points each Link to comment Share on other sites More sharing options...
DrStool Posted May 10, 2004 Report Share Posted May 10, 2004 Some very intelligent people I know rode several stocks all the way to zero in the last go round. They are still in the market, and still own the same old crappy stocks. Except of course the ones that disappeared. People who can afford it hold on with a death grip. Buy you are correct, some people have to sell because they will need the money. But that is always there. Will more people will need the money in the months ahead due to financial distress? Probably, but again, you were correct in pointing out that fewer people will be using refi cash out to buy stocks. In fact almost no one will. And that was one of the props driving stock prices higher, a clear example of how one bubble drives another. All phony funny Ponzi money. You wonder how many of those were planning on their stock profits to make the mortgage payment. Yes leverage does work in reverse. Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 DJ US To Impose Sanctions On Syria For Supporting Terrorism ? WASHINGTON (AP)--President George W. Bush this week will levy economic sanctions against Syria for supporting terrorism and not doing enough to prevent militant fighters from entering neighboring Iraq, congressional and administration sources said Monday. ? The sanctions, which the White House will impose as early as Tuesday, are being ordered because the administration believes Syria has aggravated tensions in the Middle East by supporting militant groups. Dow Jones Newswires With Saddam gone and OBL in the freezer, you got to blame someone. Smoke and mirrors-----deflect, deflect, deflect.... Who are the real terrorists? Thank you, Madame, for offering that perspective. Americans seem incapable of seeing things from the other's view. I am thinking Canada would be a better place to be, if only because its citizens seem more rational. I found this article that tells where things are headed: "Army running out of ammo, seeks bullets from foreigners" BLOOMBERG NEWS The U.S. Army said it will seek bullets from commercial and foreign producers because its biggest ammunition supplier, Alliant Techsystems Inc., can't keep up with demand. "The hope is to get it from the U.S., but worldwide suppliers are out there that provide this and it might not be totally available in the U.S.," said Lieutenant Colonel Matthew Butler, Army product manager for small- and medium-caliber ammunition. Edina, Minnesota-based Alliant Friday said demand is rising to its highest level since the Vietnam War. To make up for the shortage, the Army recently awarded contracts to state-owned Israel Military Industries Ltd. and Olin Corp.'s Winchester unit, each for 70 million rounds, Butler said in a telephone interview. He said he couldn't disclose the value of the contracts. The Army wants to buy about 1.4 billion bullets this year and have the capacity for 2 billion rounds a year, Butler said. That is more than Alliant can make, and there are few other companies that can make military ammunition on such a large scale. The Army plans to seek a company able to coordinate production of as much as 500 million rounds by a number of smaller producers, Butler said. http://www.dailystar.com/dailystar/news/21194.php During WWII, my Grandfather worked in a munitions plant in Illinois to make the amunition for the war. He had no prior training, so I ask why is it that we have to go overseas to get our bullets made? Why cant American workers do it? During the same war, we didnt have enuf tanks, so the govt quickly built a tank production plant in Warren, MI to meet the need. That's why the Command I worked at was known as the place that makes tanks, when actually we were on the R&D, Design and Procurement side of things. The Tank Plant has been closed for many years. The last remaining plant, the LIMA Army Tank Plant was kept open only due to a Foreign Military Sales contract to provide Saudi Arabia w/M1A1 tanks with Arabic computer screens. All part of the larger contract to "build a Saudi Army and Air Force" from scratch. Oh, well, is it time to invest in companies that make bullets? Sherlock Link to comment Share on other sites More sharing options...
DrStool Posted May 10, 2004 Report Share Posted May 10, 2004 To Bounce Or Not To Bounce That's Not The Question Your Anals are loaded. Take a subscribatory and download RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted May 10, 2004 Report Share Posted May 10, 2004 His only saving grace in spite of this flaw is that he does understand that the government is corrupt -- just blames it mostly on the liberals. :P Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 NEW YORK, May 10 (Reuters) - Electronic Data Systems Corp. (NYSE:EDS - News), the No. 2 computer services company globally, is looking at slashing its dividend or selling over $1 billion of equity as it fights to maintain an investment-grade credit rating, it said on Monday. http://biz.yahoo.com/rc/040510/tech_eds_3.html Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 UPDATE - Chiquita earnings down, facing DOJ probe Monday May 10, 6:11 pm ET NEW YORK, May 10 (Reuters) - The U.S. government is investigating Chiquita Brands International Inc. (NYSE:CQB - News) for making "protection" payments to certain Colombian groups which the U.S. says are terrorist organizations, the company said on Monday. http://biz.yahoo.com/rc/040510/food_chiquita_earns_2.html Link to comment Share on other sites More sharing options...
depends Posted May 11, 2004 Report Share Posted May 11, 2004 This little chart stays on our side of the line. Until I see a preliminary buy signal I am adding to shorts on rallies. That has been working for a while. The hard part for me has been getting shaken out on too tight stops. I figure if the trend is down then stops need to be looser on shorts. Anybody have a good solution the the problem of how stops should be set in this kind of downtrend? It's been so long I've forgotten what works. Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 11, 2004 Report Share Posted May 11, 2004 Posted some Dow and Tran charts you fellas might want to take a gander at over here Link to comment Share on other sites More sharing options...
Guest Posted May 11, 2004 Report Share Posted May 11, 2004 Nikkei 225 10,790.13 - 94.57 9:06 Link to comment Share on other sites More sharing options...
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