dogsie Posted June 9, 2009 Report Share Posted June 9, 2009 If the market holds here for another 10 or 12 trading days,it sure looks like we could get a cross of the 50 day above the 200 day. That could be ugly for the bears if it happens.And "chart guys" could buy the signal and give us the blowoff I am still guessing we get. I could be totally wrong so I am selling my position a little each day. That happened several times the other way in '02-07 bull market. Each time it was near a bottom. Link to comment Share on other sites More sharing options...
K Wave Rider Posted June 9, 2009 Report Share Posted June 9, 2009 Ooohfah... Commercial deal goes off at 30% Below 2004 prices.... http://www.buffalonews.com/businesstoday/b...ory/695399.html Link to comment Share on other sites More sharing options...
K Wave Rider Posted June 9, 2009 Report Share Posted June 9, 2009 Every day for weeks I have almost posted this comment. Despite all that has happened, the systematic and institutional forces which favor rising stock averages are again working seamlessly. Or something like that. I'm not saying conspiracy. It's just a process. Bless you KW for leaning to the bear side, and I'm not certain what your target is for a swing trade, but with the fate of the world as we know it hanging in the balance each day or week, depending upon the appearance of Green Shoots and Confidence that only rising stock averages can bring, it going to take some real shocks to get this market anywhere near the March low at this point. Well that's my view. Under normal conditions you might figure a nice little shake out here would be healthy for the bulls but I get this overwhelming sense that the big boys have essentially banned downside plays for fear that they just might not be able to stop them. That's all total BS I know. Just a story. Here's Naz Comp 1/10/02 hourly, with today's hourly RUT below....the Naz started a vicious 6 week, leading to 6 month, drop the next day in 2002, and the similarities of the setup are striking. Don't mean it cant turn out different..... Bears still in the hunt at this juncture.....but they need to start breaking things and rip open that fridge and start feeding on steaks pretty quickly.... Link to comment Share on other sites More sharing options...
K Wave Rider Posted June 9, 2009 Report Share Posted June 9, 2009 Here's Naz Comp 1/10/02 hourly, with today's hourly RUT below....the Naz started a vicious 6 week, leading to 6 month, drop the next day in 2002, and the similarities of the setup are striking. Don't mean it cant turn out different..... Bears still in the hunt at this juncture.....but they need to start breaking things and rip open that fridge and start feeding on steaks pretty quickly.... and here is the hourly 24 hour NQ chart as of 1/1102, and the hourly 24 hour ES futs today....again the similarities of the setup are striking...right down to the rampola near EOD..... Link to comment Share on other sites More sharing options...
K Wave Rider Posted June 9, 2009 Report Share Posted June 9, 2009 and here is the hourly 24 hour NQ chart as of 1/1102, and the hourly 24 hour ES futs today....again the similarities of the setup are striking...right down to the rampola near EOD..... If that bounce off hourly 200 fails, it could very well be ovah fur da booolz, just as it was in '02 Link to comment Share on other sites More sharing options...
cwd Posted June 9, 2009 Report Share Posted June 9, 2009 Every day for weeks I have almost posted this comment. Despite all that has happened, the systematic and institutional forces which favor rising stock averages are again working seamlessly. Or something like that. I'm not saying conspiracy. It's just a process. Bless you KW for leaning to the bear side, and I'm not certain what your target is for a swing trade, but with the fate of the world as we know it hanging in the balance each day or week, depending upon the appearance of Green Shoots and Confidence that only rising stock averages can bring, it going to take some real shocks to get this market anywhere near the March low at this point. Well that's my view. Under normal conditions you might figure a nice little shake out here would be healthy for the bulls but I get this overwhelming sense that the big boys have essentially banned downside plays for fear that they just might not be able to stop them. That's all total BS I know. Just a story. That's all total BS I know. Just a story. Why would you say that? The US government has committed more than 12 TTTTRillion FRNs to save the banks. Do it make sense for a declining stock market to mess that up when say a couple of hundred billion properly applied by key players such as GS can stop the market from declining for awhile and make them a bundle also? Link to comment Share on other sites More sharing options...
Charmin Posted June 9, 2009 Report Share Posted June 9, 2009 I drove on a section of stimulus pavement today. I wouldn't be surprised by "green shoots" in the next few years. http://mythreethings.wordpress.com/2009/04...k-tar-pavement/ Link to comment Share on other sites More sharing options...
Rationalize Posted June 9, 2009 Report Share Posted June 9, 2009 Just bumped into a friend I haven't seen for about a year. He finished up in his recruitment industry CEO job about 2 mths ago, and is now looking to buy into a management consultancy. After renting for a long time, he's just bought a property to live in, on a very low interest rate. Interesting times. I'd regard this guy as knowing what he's doing, mostly. He sees the recession as being behind us. ... There's a lot of optimism out there. But, it seems to me that there is now more moral hazard than ever before. Low interest rates are the devil. We need to go through the pain of higher interest rates. Only then will will we return to "fair value measured by cash flow", rather than the current "fair value measured by the next fool's access to leverage". Link to comment Share on other sites More sharing options...
bearmarketymark Posted June 9, 2009 Report Share Posted June 9, 2009 Matt Taibbi on Hank Paulson being a hero---classic. http://trueslant.com/matttaibbi/ Link to comment Share on other sites More sharing options...
Jimi Posted June 9, 2009 Report Share Posted June 9, 2009 We need to go through the pain of higher interest rates. Only then will will we return to "fair value measured by cash flow", rather than the current "fair value measured by the next fool's access to leverage". This is a powerful, eloquently stated, simple Truth. Link to comment Share on other sites More sharing options...
Jimi Posted June 9, 2009 Report Share Posted June 9, 2009 WTF is the next IBM Selectric offering from Martin Armstrong? Link to comment Share on other sites More sharing options...
shorty Posted June 9, 2009 Report Share Posted June 9, 2009 precious time is being lost every day that goes by with the nation in denial and strung out on false hope and BS today the gov't says it will create (or save ) 600,000 jobs they won't, they'll destroy millions more with taxjacks and parasitic live-off-your-neighbor programs but even if they did, that's 5,400,000 short because six million families got chopped in the last 17 months there is no recovery, and there will be no recovery because we are a nation of morans this is going to get far far worse than anyone in the state-run media is reporting and they won't save the stock market either corps can issue new common crapshares as fast as the gov't secretly buys 'em with funny munny they'll all be worthless when they BK we are the BK nation everyone walking away from everything meetin' other fellars with chalk in their hands comin' round the other side Link to comment Share on other sites More sharing options...
shorty Posted June 9, 2009 Report Share Posted June 9, 2009 Californica contemplates the ultimate reform - no welfare That doomsday scenario is on the table as lawmakers wrestle with a staggering $24.3 billion budget deficit. "The easy decisions are way past being in the rearview mirror for us. We face the specter of Californica not having cash on hand to pay its bills in July." SHUT IT DOWN! Link to comment Share on other sites More sharing options...
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