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B4 The Bell Tuezelday July 20


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:D Welcome to B4 The Bell! :D

 

The market is still slipping and sliding downhill. Be ready to short any gift bounces from AG's speech, if you get any. My feeling is that the housing numbers will come in weak and the market will move lower before then.

 

Groundhog day in Washington DC - the same ole song and dance. Cut taxes and increase the budget deficits. "Deficits don't matter" our VP says.

 

 

Eager to sign his fourth tax cut in as many years, President Bush is pushing congressional leaders to extend a series of middle-class tax cuts before Congress's planned adjournment at the end of the week.

 

Democrats charge that the president is trying to ram the tax cuts through in time to hold a signing ceremony during their convention next week.

 

To move the tax package quickly, Republican leaders in Congress want to revive moribund negotiations on an expanded child credit for the working poor and amend it to extend tax cuts for married couples, middle-income families with children, and lower-income workers. Because the package would emerge from House and Senate negotiations on the child credit issue, lawmakers would be presented a take-it-or-leave-it tax package before they adjourn until September.

 

House GOP leaders and the White House want a five-year extension of the three middle-class tax cuts, with a one-year AMT fix, a package that would cost the Treasury up to $130 billion.

 

Bush Pushes Congress To Extend Tax Cuts

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One of the most "widely-gamed" Matrix stocks is TASR.

 

Sunday's New York Times prominently featured a negative story about the actual safety record of the product. Monday morning, Mark Haynes on CNBS Squawkbox went out of his way to mention the article, and question the reason for the timing of it.

 

The stock was hammered yesterday early, then spent the afternoon basing while building cause for a potential short squeeze on all time frames.

 

Yesterday morning, DAL announced its earnings, but despite their losses, the stock was whipped into a frenzy on rumors of pilot's wage concessions. CAL beats expectations this morning.

 

Yesterday at precisely 2:00, 990N made a thunderous pronouncement to the markets, kick starting the SMH and sending a shot across the bear's bow. The SOX and the transports need to be horsewhipped into gear and oil/gold needs to come down hard if the markets are to be saved here. Keep an eye on the chart of PD as a proxy for commodities. Interest rates must remain low AND commodity prices must be beaten down in order to keep the plates spinning. Can they do it?

 

After the close, TASR beats by a penny, beats on revenues, and raises forward guidance by 50%.

 

This morning at 5:00, the Futures were all in the red as were all markets overseas. One hour later, the futures were all in the green and the FTSE had been brought right back up to break even.

 

This Morning at 9:15, the CEO of TASR is scheduled to appear on Squawkbox, presumeably to refute the entire New York Times story and to cheerlead the hell out of his company's future promise. All conversation this morning is centered on TASR - including their Squawkback Question Of The Day.

 

Greenspan speaks all day.

 

Is it conspiratorial to assume these issues are all connected, and that the story was planted in the Times with a specific purpose? Are you a Coincidence Theorist? Follow the money. Watch the SMH.

 

Be Careful!

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One of the most "widely-gamed" Matrix stocks is TASR.

I tried shorting TASR but couldn't get the shares.

Look for a giant squeeze there.

Might set a trap to go long for a quick trade above the price.

 

Then again - It's not my style to trade screamers.

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One of the most "widely-gamed" Matrix stocks is TASR.

I tried shorting TASR but couldn't get the shares.

Look for a giant squeeze there.

Might set a trap to go long for a quick trade above the price.

 

Then again - It's not my style to trade screamers.

Not recommending anyone game it...just pointing out the game.

 

If we see Crapvision put the TASR bug on the screen for the entire day like they did with MSO on Martha's big day last week, we'll know the significance they place on it.

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TASR currently down $2/6% on 48,000 shares.

They are issuing a bunch of new shares so the dilution is probably the issue there.

It'll probably close up 10% after the CEO spins his yarn.

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You really think builders aren't going to claim every little hole in the earth on their properties as a housing start? I'm disconcerted by the strength of HGX relative to where it should be in this environment.

 

EDIT:

 

just checked the Morning Call, another blast up. Aaaand the board almost wouldn't let me reload this page. Another perfect day :lol: :P

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Panic Renewed

 

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Where "should" builders be, other than where the charts say they are? If you want to know why a stock is up or down, remember, the worse the fundamentals, the bigger the short squeeze. Instead of watching a stock's fundamentals look at the short interest. That would give you an idea of why a stock might be behaving a certain way.

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