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The "X" line looks like the neckline of the head n shoulders formation to me - if so, then that pattern already fulfilled its target with the low print at the lower line labelled "Gann". "X" should still be resistance on a re-test, though. Myself, I hope this whole pile of turn just smacks straight south from the open. Bonds just opened seeing light selling, FVX +1.7 bps, TNX +.8 bps, TYX +.7.

 

Maybe if we all do the collective "ohmmmmmm" think we can will this thing down.

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08:33 ET Income, spending a bit weaker than expected

Personal spending fell 0.1% in January vs the expectation of a 0.1% increase; weakness in autos led the decline. Income continued its modest growth path, rising 0.3% vs the 0.4% consensus. Nothing in this report changes the economic view or will have much market impact.

 

 

 

 

08:31 ET Spending falls 0.1% vs +0.1% consensus; income up 0.3% vs 0.4% consensus

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Striker, when a chart exists on a publicly available site, simply link to it instead of attaching it to your message. Also, do not forget to specify the source - after all, we should give proper credit to the author of the chart. As for resizing - you can't do it with IMG tags, but you can do it with HTML:

 

 

Regards,

Vesselin

Vess, I thank you, my monitor thanks you.

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I've taken the week off from the Rock Quarry so I'm playing the home version of the game today. I may get stopped out today depending on how bad things get. Right now if the futures and Pre-Market is any indication, I may have to eject. Bummer. I want to keep a certain amount of profit on this expedition and I'm getting close to that point.

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Looks like SG (on his thread), Oyster, Bont see short term up to "X" line of H/S. It will be a test of intestinal fortitude to ride this POS back north. I'll need some serious distractions whilst I man my battle toilet.

not necessarily...I can give reasons for highs already in on ESH.....and on opening on SP00 here

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Oyster:

 

I think I recall from some time back you pay attention to the bean market, and if this isn't the appropriate space for discussion of such matters feel free to PM me, but it seems the 520 - 530 area on the nov contract is a pretty crucial area. What's your feeling and your bias at current prices?

 

Thanks

LD

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Anybody out there tired of this sh*t?

Contrarians talk about a real "bottom" occuring when nobody cares about stocks anymore. I think that includes both Bulls and Bears. In other words, Mr. Market has to exhaust both - at the very least psychologically, if not financially. Although, I tend to think Bears will have more working capital at "The Bottom." Whether they are paying attention or even care that "It" has arrived is another question.

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Anybody out there tired of this sh*t?

Contrarians talk about a real "bottom" occuring when nobody cares about stocks anymore. I think that includes both Bulls and Bears. In other words, Mr. Market has to exhaust both - at the very least psychologically, if not financially. Although, I tend to think Bears will have more working capital at "The Bottom." Whether they are paying attention or even care that "It" has arrived is another question.

I recall reading that during the Crash of '29, the Dumb Money got wacked in '29. The Smart Money in '30, the Really Smart Money in '31, and the Incredibly Wise Money in '32.

 

We'll be at The Bottom when Stocks are less popular then Toxic Waste and the Blood Running in the Streets is Real.

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