Guest Posted August 23, 2003 Report Share Posted August 23, 2003 I agree so far this is a temporary correction of an overbought condition, but I expect some external news to soon overwhelm technicals and fundamentals and cause the selling to get out of hand. I think it was Prechter who said markets cause events not other way around. I realize I am in the minority but I expect Greenspan to let stocks fall. Another minority opinion: I think bonds will bounce nicely from here. And I expect gold stocks to decline rest of year, looking for a great buying opportunity January 1st. The gold rally is fizzling and I will short any rallies from here. Although I still expect 550, I now think it will be next summer, not this Christmas. I think EBAY and YHOO are overpriced but have real businesses that can make real money. On the other hand, AMZN has no way to make money, so of the three AMZN is the best short. I also want to short SNDK, INTU, LXK. I want to dong OVTI, NFLX, XMSR but only at 50% off current prices. Good luck everyone. Be careful buying calls to play bounces if the premiums get high due to volatility increasing. Link to comment Share on other sites More sharing options...
Guest Posted August 23, 2003 Report Share Posted August 23, 2003 Connecting the POC (Point of Control) for each day. You can see graphically how different today was compared to recent days, I like the way the POC finally was down from the previous day and how we closed below the POC for today. New breaking news I see Edit: Oh, do you mean my thought bubble? In that case, click on the WWW button below. Wow, thats awesome! And charts as well! Current thoughts, hahaha!!! That is the best picture Ive seen in my entire life, seriously. It makes me want to break out the jogging shoes and chariots of fire tape to get in shape! Link to comment Share on other sites More sharing options...
MyGoldenStool Posted August 23, 2003 Report Share Posted August 23, 2003 I was very partial to the old thought bubble............ Link to comment Share on other sites More sharing options...
mjkst27 Posted August 23, 2003 Report Share Posted August 23, 2003 Did I mention I heard a radio spot the other day for Fannie Mae? Basically it talked about mom, apple pie, fireworks, and Fannie Mae. We're here for you. No specific message other than FNM can be trusted like Moses. Reminded me of Enron "Why....Why.....Why" Link to comment Share on other sites More sharing options...
No Einstein Posted August 23, 2003 Report Share Posted August 23, 2003 Mars Closest Approach - August 27 marks the closest that Mars and Earth have been since nearly 60,000 years ago, when the Neanderthals lived! Mars won't be this close again until 2287. Personally I don't agree or disagree with Astrology, although many great individuals in history have lived and died by it. However, I do believe in Cycles. I hope this isn't part of of the HT Supercyle, we may go the way of the Neanderthal. If we crash in the next week I may develop an interest in Astrology :-) Link to comment Share on other sites More sharing options...
BAREister Posted August 23, 2003 Report Share Posted August 23, 2003 FRE resignation cannot be a good sign for the Derivitives.....this may eventually lead to the "shot heard round the world... HRFF just said the FRE scandal in July was highly redolent of Sarejevo, in 1914. There are FURces in motion no one can stop, now, is his GUESS. And much is being hidden is hiz W.A.G. (wild a**ed GUESS). The truth, whatever it is will out - at least PARTIALLY*. Then we'll c, as a nation, SNOT to mention as markets, if we can HANDLE it. *remember that 'lone gunman at Dallas' theory? Took a few decades to call that into serious question. Link to comment Share on other sites More sharing options...
BAREister Posted August 23, 2003 Report Share Posted August 23, 2003 I realize I am in the minority but I expect Greenspan to let stocks fall. You've got company HERE. The Fed's TOP priority is to protect the $ as the world's reserve currency. AnUDDER high priority is to punish speculation. The BARE suspects The Fed, painted as the bond bad boy FUR the debacle of July-Aug, was more than willing to let those who got burned feel a good deal of heat FUR having tried to second-guess 'em. It probably engineered this rally to spank the shorts, hard. Keeping everyone off balance, long or short, stox or bondz, probably increases its clout. Anyway, it's got a CURRENCY to protect. The stock mkt is probably a tertiary consideration, once it's satisfied it won't implode, thatiz. Link to comment Share on other sites More sharing options...
Guest Posted August 23, 2003 Report Share Posted August 23, 2003 FRE CEO quits. Announced at 6:32pm, 2 minutes after AH trading closed. Crooks. that was known last night......posted on M2M late by someone. Link to comment Share on other sites More sharing options...
Hiding Bear Posted August 23, 2003 Report Share Posted August 23, 2003 I realize I am in the minority but I expect Greenspan to let stocks fall. You've got company HERE. The Fed's TOP priority is to protect the $ as the world's reserve currency. AnUDDER high priority is to punish speculation. The BARE suspects The Fed, painted as the bond bad boy FUR the debacle of July-Aug, was more than willing to let those who got burned feel a good deal of heat FUR having tried to second-guess 'em. It probably engineered this rally to spank the shorts, hard. Keeping everyone off balance, long or short, stox or bondz, probably increases its clout. Anyway, it's got a CURRENCY to protect. The stock mkt is probably a tertiary consideration, once it's satisfied it won't implode, thatiz. Shorty - I agree with most of your summary. In retrospect, your call about 8/22 may look very timely. The market has already rallied from 800 to 1000 on the SPX and even more in the NASQWAK. Surely Greenie can afford to give back some of those gains to delay a possible bond market heart attack. Also potential $ worries - The dollar is largely being held up by foreign central bank buying. Eventually they will realize they can't take paper for thier goods forever. Matrix operator taking over Freddie Mac. Is this what you had in mind BAREister? Did u see Freddie vs. Jason? Sometimes its hard to kill something that is already dead! Freddie Mac board chairman Shaun O'Malley said the board would move "expeditiously to recruit a new CEO.'' One of those being mentioned as a possible successor was Peter Fisher, a former top official at the Federal Reserve Bank in New York and currently the under secretary of domestic finance at the Treasury Department. Mr. Fisher, one of the highest ranking Democrats in the Bush administration, has announced he is leaving his Treasury post in October. Link to comment Share on other sites More sharing options...
EddieBear Posted August 23, 2003 Report Share Posted August 23, 2003 FRE CEO quits. Announced at 6:32pm, 2 minutes after AH trading closed. Crooks. that was known last night......posted on M2M late by someone. It's been talked about all day as a rumour, now it appears to be official. Link to comment Share on other sites More sharing options...
The End Posted August 23, 2003 Report Share Posted August 23, 2003 EddieBear, Welcome to the best damn site on the Planet, for people like us. :grin: Link to comment Share on other sites More sharing options...
machinehead Posted August 23, 2003 Report Share Posted August 23, 2003 'The White House "convinced the Environmental Protection Agency to add reassuring statements and delete cautionary ones" by having the National Security Council control EPA communications in the wake of the Sept. 11 terror attacks, according to a report issued late Thursday by EPA Inspector General Nikki L. Tinsley.' For their own good For future reference, presumably the same procedure applies in case of an economic emergency. "It isn't official until it's officially denied." Link to comment Share on other sites More sharing options...
Hiding Bear Posted August 23, 2003 Report Share Posted August 23, 2003 'The White House "convinced the Environmental Protection Agency to add reassuring statements and delete cautionary ones" by having the National Security Council control EPA communications in the wake of the Sept. 11 terror attacks, according to a report issued late Thursday by EPA Inspector General Nikki L. Tinsley.' For their own good For future reference, presumably the same procedure applies in case of an economic emergency. "It isn't official until it's officially denied." Going slightly off topic here, but former NJ governor Christy Whitman quit as head of the EPA due to interference from the top of the Bush Adminstration. Was she (in her governor days) a pawn for some matrix plans (concerning Wall Street deals with state retirement funds)? Probably an unwitting victim. But a liar - no. Which leads me to think - if a terrorist computer virus was the cause of power failures etc., or gasoline refinery problems were caused by sabatoge - or if Freddie was dead - would we be told? Link to comment Share on other sites More sharing options...
gruff Posted August 23, 2003 Report Share Posted August 23, 2003 Not de most bullish of charts (ES Daily Linear Regression)... good night, gruff Link to comment Share on other sites More sharing options...
machinehead Posted August 23, 2003 Report Share Posted August 23, 2003 Which leads me to think - if a terrorist computer virus was the cause of power failures etc., or gasoline refinery problems were caused by sabatoge - or if Freddie was dead - would we be told? Precisely, H.B. -- the answer is: "not necessarily." The conclusion is: "trust nothing; always consider the opposite interpetation, too." Link to comment Share on other sites More sharing options...
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