wndysrf Posted November 24, 2006 Report Share Posted November 24, 2006 Looks like its official. The U.S. Bonar crumpled in a heap last night as all the 400:1 leveraged Forex Gamers hugging onto the the "words" and promises of all the Fed Govenor Bullhorning about "we support the strong dollar" got shanked. Effective immediately, all asset classes of every race, stripe, color, gender, and ethnic origin could be locked in a Full Scale Meltup Mode. Look no further than the REITs, undoubtedly treated as the safe haven asset class of choice. And the homebuilders, which have been accumulated with a vengeance by the "smart money" types lately. Wonder if we will reach the Wheelbarrow Stage where simple items such as door handles and mailboxes are stolen to be carted off to the scrap house to be exchanged for food? Who knows? Perhaps the currency breakdown is a bear trap, and the PigMen will reverse it next week in a Searing Rally? Wouldn't put it past them, as it will be the fastest money made in the shortest timeframe at the moment. Could be that stocks are shanked also, only for a brief correction. No doubt, a clothesline event will crank the put/call ratio back up to 1.40 for 4 days in a row. Bears will be yelling "4-year cycle top", Tim Wood will be rushing out to trade in his Hyundai for a Lexus, Mc"Huge" will be spamming with the usual giant plunge arrows, Prechter will be pounding out "I told you so" EWI updates. Then the PigMen will U-Turn and McQueen the tape once again for the Christmas Rally and End of Year Greenprint to assure Walled Struck of obscene bonuses and payouts. Emergency board meetings will be held to permit instantaneous stock option grants provded at the low of the day for all CEO's who are prepping their retirements by gunning the Stock Option Wealth Engine. In the meantime, repeated reports of "pandemonium" and "chaos" at the various retailers today. No doubt, Joe Sixpack is expecting $1.75/gal. gasoline, forever rising 401(k) accounts, continued wage inflation, infinite mortgage refi possiblities with the launch of the "Rent to Own" interest-only 100 year mortgage in 2007. Therefore, they are buying more goods with a vengeance, pushing the trade deficit higher and higher, while foreign central bank reserves reaching such huge levels, they have no other choice but to recycle the money back into Treasuries, mortgage-backeds, U.S. Stocks, and all the other AAA-rated instruments backstopped by the full faith and credit of the Bernanke Helicopter Squadron. Link to comment Share on other sites More sharing options...
Speakeasy Posted November 24, 2006 Report Share Posted November 24, 2006 I'm shocked. I figured the 3rd stringers would have order to keep things calm and pin the indexes. Link to comment Share on other sites More sharing options...
LeeWhee Posted November 24, 2006 Report Share Posted November 24, 2006 Today's holiday boner winner definitely PNTR, which Wndy mentioned. Pointer Telocation is an Israeli company that "provides road-side ASSistance, towing and stolen vehicle retrieval services to insurance companies and car owners in Israel, Argentina and Mexico." Sounds like a winner, at least until insurance companies stop coverage in those ultra-safe driving locales. At one point today, PNTR was up 330% from its Tuesday close. In what could be a record for volatility, PNTR ended up 89% today, yet closed 40% off its high. Traded 404x its avg trading vol today. That should get Tzu's attention. Fun and games. Oh, BTW, even after a 300% move this week, PNTR is still 99.7% below its 2000 high. Link to comment Share on other sites More sharing options...
LeeWhee Posted November 24, 2006 Report Share Posted November 24, 2006 I'm shocked. I figured the 3rd stringers would have order to keep things calm and pin the indexes. <{POST_SNAPBACK}> Minor freefall on Spooz likely due to technical breakdown from that little wedgie on the hourlies. The airpocket was caught right at the 50hourMA at 1399, similar to the selloffs on 11/10 and 11/14. Now we have a new flag pattern forming. A break below today's low at 1399 means a quick trip back to 1387-1389 or possibly back to the 200hourMA now at 1381. If we go higher, imagine we'll see a run towards 1418-1420 prior to a move lower. But we shall see. Link to comment Share on other sites More sharing options...
wndysrf Posted November 24, 2006 Author Report Share Posted November 24, 2006 Huge volume today. Link to comment Share on other sites More sharing options...
wndysrf Posted November 24, 2006 Author Report Share Posted November 24, 2006 Semis on the move.... Link to comment Share on other sites More sharing options...
wndysrf Posted November 24, 2006 Author Report Share Posted November 24, 2006 Overshorted junkers on the move Link to comment Share on other sites More sharing options...
wndysrf Posted November 24, 2006 Author Report Share Posted November 24, 2006 Chinese Auto stocks taking off. Link to comment Share on other sites More sharing options...
Tzu Posted November 24, 2006 Report Share Posted November 24, 2006 Huge volume today. <{POST_SNAPBACK}> and yet SLV has less than half the volume and twice the gain. Red headed "supermodel" step child Link to comment Share on other sites More sharing options...
FeedFool Posted November 24, 2006 Report Share Posted November 24, 2006 Multi year new low on CRB index on Foolberg, down nearly 40% in one day Early in the day it was down 92 and closed 126 points down Link to comment Share on other sites More sharing options...
Charmin Posted November 24, 2006 Report Share Posted November 24, 2006 The feargreed dude thinks it's time. "ALERT! Short the General Market (OEX) on a close today (11/24) under 652.43. A bearish Weekly Squat will have been created. Use 660.31 for a protective stop. We are anticipating negative momentum, and a quadruple bearish momentum divergence next week. Lower prices should follow." http://www.feargreed.com Link to comment Share on other sites More sharing options...
wndysrf Posted November 24, 2006 Author Report Share Posted November 24, 2006 No doubt, the "resilient consumer" has totally lost his mind. Absolute madness out there. Link "Most stores at the Woodbury outlet center, which is about an hour's ride from Manhattan and home to more than 200 designer and name-brand stores, open in the wee hours on Black Friday, the day on which the retail business has traditionally been viewed as becoming profitable for the year, with their famous "Midnight Madness" super sales, offering early-arriving shoppers additional savings off outlet-store prices. Dragging a full-size, empty suitcase, Fernando Szterling, a New York lawyer, said that his budget for the trip was about $1,000 and that he was looking to buy Armani suits, shirts from Brooks Brothers and some fondue sets. "They have these midnight sales, and I want to be there as soon as possible. My friends told me that at 7 a.m. it's crazy there," he said. Near midnight, about 500 shoppers had boarded buses, according to Phil Weiner, New York City operations manager for Coach USA. Each bus, he said, has 55 seats. "So far, I'm loading my 10th bus, and it's 11:30 p.m. It seems busier than last year," Weiner said. "Right now, we're already at 10 buses an hour. I think [Friday] is going to be the busiest day in our history. It's hard to say what's going to happen." Link to comment Share on other sites More sharing options...
Tzu Posted November 24, 2006 Report Share Posted November 24, 2006 ..... Pictured below with FRE. Link to comment Share on other sites More sharing options...
wndysrf Posted November 24, 2006 Author Report Share Posted November 24, 2006 Put/call closed at 1.01 today. Here's the shocker. SPX and OEX just a tad off its highs, yet the put/call moving averages have not backed off at all. Simply amazing!!! Unheard of to see consistent readings over .90 over so many timeframes, while we are sitting at the highs!!! How long is it going to take to work this stuff off? 6 more months? A year? Check out the Rydex bears. Short covering with a vengeance. Link to comment Share on other sites More sharing options...
LeeWhee Posted November 24, 2006 Report Share Posted November 24, 2006 No doubt, the "resilient consumer" has totally lost his mind. Absolute madness out there. Link "Most stores at the Woodbury outlet center, which is about an hour's ride from Manhattan and home to more than 200 designer and name-brand stores, open in the wee hours on Black Friday, the day on which the retail business has traditionally been viewed as becoming profitable for the year, with their famous "Midnight Madness" super sales, offering early-arriving shoppers additional savings off outlet-store prices. Dragging a full-size, empty suitcase, Fernando Szterling, a New York lawyer, said that his budget for the trip was about $1,000 and that he was looking to buy Armani suits, shirts from Brooks Brothers and some fondue sets. "They have these midnight sales, and I want to be there as soon as possible. My friends told me that at 7 a.m. it's crazy there," he said. Near midnight, about 500 shoppers had boarded buses, according to Phil Weiner, New York City operations manager for Coach USA. Each bus, he said, has 55 seats. "So far, I'm loading my 10th bus, and it's 11:30 p.m. It seems busier than last year," Weiner said. "Right now, we're already at 10 buses an hour. I think [Friday] is going to be the busiest day in our history. It's hard to say what's going to happen." <{POST_SNAPBACK}> Guess folks like "bargains." Though I personally feel that there is no such thing as a bargain fondue set. With so much emphasis on Black Friday "midnite madness", "doorbusters", "guerrila shopping", etc, what happens next week...and the week after that? Link to comment Share on other sites More sharing options...
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