Guest Posted February 5, 2003 Report Share Posted February 5, 2003 . . Last night I ran across a wonderful, uplifting Newsweek article on the Columbia astronauts which presented personal portraits of each one of them. Reading their stories gives me hope that despite all of our racial mishegas we will, in the end, get a passing grade on the final exam - in no small part because of people like these. The Right Stuff Link to comment Share on other sites More sharing options...
simple guy Posted February 5, 2003 Report Share Posted February 5, 2003 SG dinging in with a few pre-market comments 1. 985 is my max retrace on NDX (about 24.49 ish)... we may have already done so in AH last night... what we are seeing here is congestion from the October area, the early to mid november area, the late December area... once this congestion breaks... the waterfall 3rd wave really gets going. Therefore, I stay short and treat all bounces as a JOKE 2. Cisco stuff- 4th quarter in past 5 where they have borrowed from backlog to make revenues, this cant go on too long. Once again, their new orders for the quarter lagged their reported revenues. Also... Chambers comments were chilling if you paid attention, he didnt even blame the war... he predicts 3% downside this quarter... but to do that they will be borrowing again... Also, to make earnings look good, they benefited from lower costs of raw materials... its an $8 stock before it bottoms...if that... 3. NDX near term targets at about 931 or 23.11 or so on the Q's.... 870-880 after that.... huge air pockets coming. Chambers indicated a stunning drop in orders in January... SG reminds... wait til you start getting MULTIPLE order cancellation announcements out of tech...something I predicted several weeks ago... Staying short... and riding the 3rd wave.... dont get off it... the 6% down day is coming Finally... state budget deficits a further sign of the ravages of credit contraction and deflation cycle we are in. Bond ratings go down, interest rates and borrowing costs go up, deficits rise further, taxes go up, consumer incomes and spending drop like a stone... its all about to unravel... Link to comment Share on other sites More sharing options...
DrStool Posted February 5, 2003 Report Share Posted February 5, 2003 OK, but tell us how you really feel. Stoolwethers are posted. Link to comment Share on other sites More sharing options...
GregFokker Posted February 5, 2003 Report Share Posted February 5, 2003 The US Dollar Credit: http://quotes.ino.com Gold Credit: http://cdchart.innovative-software.com NDX futures (delayed) Credit: http://www.livecharts.com SPX futures (delayed) Credit: http://www.livecharts.com Link to comment Share on other sites More sharing options...
Guest Posted February 5, 2003 Report Share Posted February 5, 2003 Looks like they may be getting ready to sell gold again to support the paper market. Same old - same old. Ramp up the price and then sell it sharply next day to prop the SM when they think they need it. In this case, probably cause of AIG and CSCO. Link to comment Share on other sites More sharing options...
simple guy Posted February 5, 2003 Report Share Posted February 5, 2003 Repeat: 985 NDX, 24.49 or so on Q's to be expected. Thur and Friday hard down days IMO, SG turn window is tomorrow Also, where is the real secular bull market? How about hard assets? Oppenheimer Real Asset Fund Course, the tech bull market should be starting today, so you may want to get fully invested on the Cisco good news... heh heh Link to comment Share on other sites More sharing options...
phatbubble Posted February 5, 2003 Report Share Posted February 5, 2003 anybody else who is watching crapv (i use that verb in the loosest sense) notice that the Speee & Nasty fucutures have been omitted from the loop? or is that just crapeuro? Link to comment Share on other sites More sharing options...
depends Posted February 5, 2003 Report Share Posted February 5, 2003 Doc, Your not putting targets on the Stoolwethers. Is that a mistake or did you decide that was making it too easy for us? Link to comment Share on other sites More sharing options...
wndysrf Posted February 5, 2003 Report Share Posted February 5, 2003 NDX futures are up 10 points from last night's lows. The jamming and propping continues. Yesterday's volume was way to light. No force to the downside. If Da Boyz can't push it down, then they will flip it around and push it up. I expect a minimum retest of last week's highs on lighter volume beforfe we head back down. Hoping for a bounce on C, AIG, or GE to add some shorts. Link to comment Share on other sites More sharing options...
ArdentGuy Posted February 5, 2003 Report Share Posted February 5, 2003 Did the triple Qs close yesterday at $24.49??? REALLY?!? Link to comment Share on other sites More sharing options...
MrHanky Posted February 5, 2003 Report Share Posted February 5, 2003 etrade shows the dow up 480 points are they planning ahead? Link to comment Share on other sites More sharing options...
simple guy Posted February 5, 2003 Report Share Posted February 5, 2003 SG says 24.49 was a brief AH print last night on QQQ, it closed below that though... SG again says 985 is max NDX retrace, or 24.49... The poster will go unnamed, but one of the stoolies is an almost contrarian indicator when he-she gets nervous about a pump, ... thats emotions getting in the way there... E waves take those out to the garbage where they belong. You never make money trading on emotions... period... watching the futures, or pre market, or after hours is a waste of time. Understanding the pattern of the waves allows me to realize its all noise and the pattern will continue in my favor ultimately... any upside here is short, brief, and over fast... Weight is to the downside, we may have already filled the NDX gap last night, we shall see... Thursday and Friday should begin a hard downturn. The 6% down day is nigh... Link to comment Share on other sites More sharing options...
DrStool Posted February 5, 2003 Report Share Posted February 5, 2003 Suctor Watch is posted. depends- Neither. The targets are on the charts. Started yesterday. Link to comment Share on other sites More sharing options...
Guest Posted February 5, 2003 Report Share Posted February 5, 2003 SG... Could you give me the "Simple Guy" understanding of how there can be a "Bull" market in real estate (per your RE asset chart) and yet EW and other other "non -conventional" analysis calls for a present/imminent bubble in real estate prices ? When does deflation become inflationary (price increase) in RE in the SG view ? Thanks... like others here, much appreciative of your talents and generosity in sharing. Link to comment Share on other sites More sharing options...
GregFokker Posted February 5, 2003 Report Share Posted February 5, 2003 SG... Could you give me the "Simple Guy" understanding of how there can be a "Bull" market in real estate (per your RE asset chart) and yet EW and other other "non -conventional" analysis calls for a present/imminent bubble in real estate prices ? When does deflation become inflationary (price increase) in RE in the SG view ? Thanks... like others here, much appreciative of your talents and generosity in sharing. It's not a real estate fund, it's a real asset fund. Most likely commodities. Link to comment Share on other sites More sharing options...
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