shorty Posted July 2, 2009 Report Share Posted July 2, 2009 soon there will be no taxpayers left half will have been fired, and the rest quit rather than have 75% of their paycheck stolen and given to their neighbors then we can all sit around and wait for a bailout Link to comment Share on other sites More sharing options...
Charmin Posted July 2, 2009 Report Share Posted July 2, 2009 April 2 was a bit significant for the QQQQ in that it broke some resistance and it's high was 32.27. Be nice to see the Q's dig into that shovel ready expansion area. Let it's slide begin here. http://www.StockSharePublishing.com/ChartL..._1246578388.png Link to comment Share on other sites More sharing options...
capitall Posted July 2, 2009 Report Share Posted July 2, 2009 For those who don't have time to read Martin Armstrong's whole article: http://bullioninsider.blogspot.com/2009/02...government.html Summary at end in part is this: "Unless we attack the debt structure directly, there is no point in counting upon any government to help mitigate the problem and more-likely-than-not, our very future may be recast in so many ways, the level of frustration will rise, and that leads to war because war distracts the people from hanging their own politicians. The oldest trick in the book is to blame the guy next-door down. Unless we are honestly prepared to truly 1) reorganize the structure of government, 2) reorganize the entire debt structure both private and public, 3) regulate leverage, 4) restore usury laws that will free up personal income, and 5) look at just eliminating the federal income tax in combination with 6) establishing a new national heathcare system that will restructure all pension plans public and private, there is not much hope for the future from government." Link to comment Share on other sites More sharing options...
shorty Posted July 2, 2009 Report Share Posted July 2, 2009 Latest from Richard Russell on the Lowry's data. Lowry's Buying Power Index as of yesterday was only 6 points above its level of March 9. That puts the market on very thin ice. It means that the desire to buy stocks has been steadily fading. All that's needed now is a rise in selling pressure, and this market will unravel. Every day I compute the span between Lowry's Buying Power Index and their Selling Pressure Index. The wider the span, the more bearish the situation. Yesterday the span closed at 872, the widest since March 9. This is the weakest reading of the entire rally. Extreme caution is warranted RR that coincides fairly well with Shorty's Reaming Pressure Index which aSS of turday's close aSSumed a fairly wide stance of 890 ft-lb's of torque Link to comment Share on other sites More sharing options...
MrHanky Posted July 2, 2009 Author Report Share Posted July 2, 2009 Mr. Hanky,What do you expect next week with a one-sided red shoot day like today? I would guess 880ish monday,then a trading range of 875-900 for the week..... But I doubt I will be very accurate in the future Link to comment Share on other sites More sharing options...
GregFokker Posted July 2, 2009 Report Share Posted July 2, 2009 Pinch it off Cmon, squeeeze My long, profitable FAZ position hopes you're right. But I don't like the crappy traction on this downphase, and the fact that this could be a reverse hunchback h&s off the March low. Very noivous, this bear is. Link to comment Share on other sites More sharing options...
Charmin Posted July 2, 2009 Report Share Posted July 2, 2009 let's gap it down to Spoozer 750 on the open Monday, then re-evaluate shorty wants to have a crack at it Link to comment Share on other sites More sharing options...
mdporter Posted July 2, 2009 Report Share Posted July 2, 2009 Bill Gross said today on crapvision with 35 million out of work and slow wage growth how does the consumer economy work? We're headed to Dentvillehttp://tinyurl.com/mpp7dz Bill thinks it's gunna be a "Great Recession" that could persist for a generation. http://www.pimco.com/LeftNav/Featured+Mark...oss+Appetit.htm With government employees now taking body blows, pink slips, and involuntary pay cuts, there is going to be a whole new group of consumers that can't go out and spend like crazy anymore. Then the whole part of the economy that has been feeding off government largese is going to get hit as contracts dry, get smaller, or get renegotiated. It's a malaise that will continue to spread. Municiple/county/state governments can't cheat like the Feds can. Can't cheat death. Six months to go until Christmas. Guess what's gonna happen to all that extra sales tax revenue the cities expect to get? Nothing! They won't get nearly as much as they've become accustomed to. Shock and awe round 2 approaching. Link to comment Share on other sites More sharing options...
mdporter Posted July 3, 2009 Report Share Posted July 3, 2009 California state workers got a third unpaid furlough day off shoved down their throats by the Governator this week. They are making that gagging sound because they aren't used to getting roughed up in that fashion like us private sector peeps. They are even talking about having themselves a good old fashioned STRIKE. Good for them, we'll find out what other state services we don't need. I might even go heckle the strickers for a while, unless they come after me. They've now taken a 14.5% involuntary pay cut this year and get three extra days off a month (without pay). Legislatures have taken about a 5% paycut, but not all have volunteered for a little chop chop action. Still lots and lots of carnage to go in California. Link to comment Share on other sites More sharing options...
T_Slim Posted July 3, 2009 Report Share Posted July 3, 2009 boy that 8200 area is the line in the sand for ym. Below that and 7900 could be the next line. price is trading below the 20 and 50 mas now on the daily chart. this could get interesting. Link to comment Share on other sites More sharing options...
Charmin Posted July 3, 2009 Report Share Posted July 3, 2009 Still lots and lots of carnage to go in California. If Arnold would just repent and turn Democrat you think the ganster Fed would shovel some money their way? Link to comment Share on other sites More sharing options...
capitall Posted July 3, 2009 Report Share Posted July 3, 2009 If Arnold would just repent and turn Democrat you think the ganster Fed would shovel some money their way? The Fed doesn't care about political parties. It's run by big banks. Do big banks have anything to gain by shoveling money Arnie's way? I can't think of anything. Link to comment Share on other sites More sharing options...
BusKow Posted July 3, 2009 Report Share Posted July 3, 2009 didn't realize it was such a low vol day... Link to comment Share on other sites More sharing options...
phatbubble Posted July 3, 2009 Report Share Posted July 3, 2009 My long, profitable FAZ position hopes you're right. But I don't like the crappy traction on this downphase, and the fact that this could be a reverse hunchback h&s off the March low. Very noivous, this bear is. Me too, am long a single position of FAZ, just waiting. May write some FAZ Jul 5 putz if RIFIN runs higher and stalls. In the FWIW dept...GS, BAC & C all report during this scam week, as they did in April......when the financials levitated right through Fri afternoon. From the close on Fri 17 Apr through the open on Tue 20 Apr, RIFIN fell 15% and FAZ gained 50%. Link to comment Share on other sites More sharing options...
GregFokker Posted July 3, 2009 Report Share Posted July 3, 2009 Me too, am long a single position of FAZ, just waiting. May write some Jul 5 putz if RIFIN runs higher and stalls. In the FWIW dept...GS, BAC & C all report during this scam week, as they did in April......when the financials levitated right through Fri afternoon. From the close on Fri 17 Apr through the open on Tue 20 Apr, RIFIN fell 15% and FAZ gained 50%. In addition to my double position of FAZ, I'm short a bunch of July 4 puts and some July 7 and 8 calls. My July bear call spread on GS turned marginally profitable today and I took off a small part of it- may try to weasel out of the rest Monday. I had a religious experience in 2005 with GOOG bear spreads, and promised myself never again to hold a non-index spread through yearnings Link to comment Share on other sites More sharing options...
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