BusKow Posted February 21, 2009 Report Share Posted February 21, 2009 Now we have Dow weekly close below 50 fibo Link to comment Share on other sites More sharing options...
K Wave Rider Posted February 21, 2009 Report Share Posted February 21, 2009 Santelli going ape sh^t on Krudlow's show..... Just tossed his print out of the Homeowner bailout act into the air... [flash=425,344]http://www.youtube.com/watch?v=CSuNUbSJbtE.swf Link to comment Share on other sites More sharing options...
Pretzel Logic Posted February 21, 2009 Report Share Posted February 21, 2009 Just a chart of some various trendlines. I'm expecting a bounce into the yellow area, although the time frame may be up to a week or so. The purple trendline, roughly in the middle of the channel, should be good for about 24 points of upside if they can punch through it early next week. 'Course, they couldn't even reclaim the bottom red line today... Market looks shaky, and we could be sub-dividing yet again into another bearish 1-2, which would make the next leg down a fast and furious deeply nested third. Next week should bring more clarity. Link to comment Share on other sites More sharing options...
roxy Posted February 21, 2009 Report Share Posted February 21, 2009 ticket: PFF Very interesting. Kept the finger on the button. If S & P500 had a higher signs of capitulation, than I would bought it because pff is loosing steam recently. The market has recognized after 2pm, that even if there will be nationalization, it will save preferred. This will be interesting Monday, becasue is pff fly higher than there should be more peace and love and we could get higher, but I'm not convinced at this time and stayed a little bit short. Maybe missed opportunity? will see The weekend has landed! Cheers! Oh, I've posted about PFF before reading your post. Anyway, I've posted a chart. Link to comment Share on other sites More sharing options...
roxy Posted February 21, 2009 Report Share Posted February 21, 2009 I agree. 800-815 is my rally target... with a very slim outside chance at 825ish. Interesting. I do see that the run to 800 will not break any trendline. However 825 will be above many many linis and close the gap as well. Is that possible? Link to comment Share on other sites More sharing options...
roxy Posted February 21, 2009 Report Share Posted February 21, 2009 anyone have opinions on HTE? I've been buying all the way down, and have continued to do so- can't resist that dividend return! I have HTE but I always write covered calls with high time value on dividend-paying stocks. So I've made money on HTE even though it is down from my purchase price. Link to comment Share on other sites More sharing options...
Pretzel Logic Posted February 21, 2009 Report Share Posted February 21, 2009 Interesting. I do see that the run to 800 will not break any trendline. However 825 will be above many many linis and close the gap as well. Is that possible? Sure it is. Commonly called a "whipsaw." As I said, though, I think that's unlikely. Link to comment Share on other sites More sharing options...
Trader Joe Posted February 21, 2009 Report Share Posted February 21, 2009 Geebuzz, Is there anything that isn't on YouTube within 10 minutes after it happens....amazin' Link to comment Share on other sites More sharing options...
lineup32 Posted February 21, 2009 Report Share Posted February 21, 2009 Is it Friday Yet? Volcker: "Mother of all financial crisis" another youtube from Volcker discussing the current crisis. What I found interesting was Volcker saying how surprised he was how quickly it spread from the U.S. to the rest of the world and how unprepared the financial regulators and top gov't officals were. Seems to be saying everybody was drinking cool aid. Its over on the CR site a link: [flash=425,344]http://www.youtube.com/watch?v=WW1003o7ZzQ&.swf http://www.calculatedriskblog.com/ Link to comment Share on other sites More sharing options...
K Wave Rider Posted February 21, 2009 Report Share Posted February 21, 2009 The NDX to 1938 fractal continues to eerily track..... Link to comment Share on other sites More sharing options...
roxy Posted February 21, 2009 Report Share Posted February 21, 2009 Geebuzz, Is there anything that isn't on YouTube within 10 minutes after it happens....amazin' Sure, there are plenty of good things that are not allowed to be posted on youtube... Link to comment Share on other sites More sharing options...
lineup32 Posted February 21, 2009 Report Share Posted February 21, 2009 FWIW: John Stumpf, the chief executive officer of Wells Fargo & Co., delivered a surprisingly upbeat assessment of business prospects in public remarks on Friday, arguing the economy will improve once consumers and entrepreneurs overcome a collective "confidence crisis." "When people are scared, they don't spend money," said the leader of the San Francisco bank, the city's largest private employer, during a speech at the San Francisco Chamber of Commerce's annual member luncheon. "But once we instill confidence, I think we'll start to see the economy improve." Lost amid the gloomy headlines are once-in-a-lifetime chances for consumers, including interest rates that are at a 50-year low and California homes priced below what it would cost to build them, Stumpf said. Then there are business opportunities "disguised as problems" in the nation's reliance on foreign oil, crises in education and health care, and the need for better roads and bridges. http://www.sfgate.com/cgi-bin/article.cgi?...p;type=business Link to comment Share on other sites More sharing options...
Charmin Posted February 21, 2009 Report Share Posted February 21, 2009 Geebuzz, Is there anything that isn't on YouTube within 10 minutes after it happens....amazin' If Rick Santelli is a conservative thinker, then it's obvious the questionable actions being done by the administration in finance is going to be "dragging conservatives kicking and screaming across the finish line" as was stated in similar fashion for reforming health care. http://wonkroom.thinkprogress.org/2009/02/17/14000-coverage/ Next up, individuals who have been holding onto the nonsense that "it's coming back" are most likely getting calls from their brokers, who are suppose to be managing risk for their clients at a time when the Dow is making fresh new lows. I have to wonder if they are still telling them to hold on or sell now. Link to comment Share on other sites More sharing options...
Charmin Posted February 21, 2009 Report Share Posted February 21, 2009 Are the big name guys all convinced now? "Renowned investor George Soros said on Friday the world financial system has effectively disintegrated" Soros sees no bottom for world financial "collapse" http://www.reuters.com/article/newsOne/idUSTRE51K0A920090221 All aboard! Link to comment Share on other sites More sharing options...
Pretzel Logic Posted February 21, 2009 Report Share Posted February 21, 2009 They're HAAAAPY in DipperLand tonight: "Gap up on Monday, island reversal, etc. etc." Quite amazing really. My expectation is that we head DOWN at the open to suck in the greedy bears who already closed positions but are afraid of missing the next crash, then UP THE WAZOO with the bullz rocket. The NDX to 1938 fractal continues to eerily track..... That fractal is absolutely uncanny. Great find. Link to comment Share on other sites More sharing options...
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