Charmin Posted December 16, 2002 Report Share Posted December 16, 2002 Mark, here's Tim Ord's latest http://www.marketweb.com/commentary/ord1217.htm Link to comment Share on other sites More sharing options...
HiHat Posted December 16, 2002 Report Share Posted December 16, 2002 Ding..Dong.. the light is broke..run across the street fast..must not get hit with the KAR-Ma. Link to comment Share on other sites More sharing options...
buttugly Posted December 16, 2002 Report Share Posted December 16, 2002 Today was a nothing day tomorrow's leading indicators are CRITICAL. If the figures are bad and the market is strong I will be loading up the truck. I had a close look at the contents of BEARX. It was interesting to see that they haven't got much in the way of shorts on Biotech or semis. Their two single biggest postions are on the DIA and the S&P 100. Of their more targeted positions, they are all over the brokers, mortgage originators, mortgage insurers and home builders. My reading of their portfolio is that they view the technology bubble as partially deflated, but the credit bubble as alive and well. Link to comment Share on other sites More sharing options...
buttugly Posted December 16, 2002 Report Share Posted December 16, 2002 NAHB - which is meant to be a good leading indicator of consumption came out with a small uptick. My reading of the NAHB data, is that we are at the right shoulder of a large head & shoulder formation - which doesn't bode well for consumption in 2003. Link to comment Share on other sites More sharing options...
phatbubble Posted December 16, 2002 Report Share Posted December 16, 2002 <_< Link to comment Share on other sites More sharing options...
Guest Posted December 16, 2002 Report Share Posted December 16, 2002 Metamucil, I'd be disgusted but not surprised if Da Boyz manage to put in a right shoulder before we continue down. I would be careful playing the short side but then again, there's no way that I'd go long from here. The market will resume its slide eventually, but the year-end beckons the fund managers like a hooker on Broadway. The only solid play out there at the moment is gold. Just look at the charts! Imagine the short squeeze when the bullion banks scramble to get onside of the gold carry trade. Rumor has it that that could happen in the mid $330s. We are now at $337. I'm 50% long the PMs with a few bids under market in case I should get lucky :grin: Link to comment Share on other sites More sharing options...
Flaming Turds Posted December 16, 2002 Report Share Posted December 16, 2002 "On the jealously guarded base of money itself, banks are free to inflate and multiply credit, each in its own discretion, notwithstanding the fact that the inflation of money and the inflation of credit are similar evils, producing similar miseries. Inflation of credit- ecstasy, delusion, fantastic enrichment. Deflation of credit- depression, crisis, remorse. One state succeeds the other and there is no escape, for one is cause and one is effect. " From 'The Anatomy of a Bubble' by Garet Garret 1932 Also 'Where the Money Grows' 1910 is highly recommended (by the same guy, really great stuff.) We will regret all of this madness at some point soon. Link to comment Share on other sites More sharing options...
Hypertiger Posted December 16, 2002 Report Share Posted December 16, 2002 I know how money works and ?Christmas? is nothing but a rip off pure and simple the general population believe that it is about joy and giving? But it is rape and pillage. The world is a sickening place? You know what wall street does with all the money it milks off of everyone? Invests it into the milking infrastructure of course. When the milking is over then the investment will stop and collapse is the result. The FEDERAL RESERVE and Friends have been doing this for 70 years. Milking milking milking. Inflation? Deflation? They milk it all fools? They are going to run out of victims soon? the pitched battle occurs at seasonal changes? The next ?season? is not summer and the FED is not Mother Nature? Even if Doc was brainwashed into a BULL it would not signify salvation? Your own humanity is your failing because BANKERS do not possess humanity they have nothing but contempt for every human being on the planet and are in the business of taking more than they give. FIAT allows them to take it all and give nothing in return? But don?t be fooled, Hypertiger scoffs at this latest attempt by the losers of the human race to fool me into thinking that they are winners. I know better Every day is one step closer to the end. Hey I know, next year they should just cut taxes on Wall Street and raise taxes on main street... Link to comment Share on other sites More sharing options...
Slothrop Posted December 16, 2002 Report Share Posted December 16, 2002 The market here is a beautiful short, especially if it rallies tomorrow. I'm talking about intermediate term...you'll make money in 3-6 weeks. Various indicators are showing roll-over. I over-shorted in November and look forward to the big downleg that's about to unfold. Link to comment Share on other sites More sharing options...
Guest Posted December 16, 2002 Report Share Posted December 16, 2002 Metamucil,. . . The only solid play out there at the moment is gold. Just look at the charts! Imagine the short squeeze when the bullion banks scramble to get onside of the gold carry trade. Rumor has it that that could happen in the mid $330s. We are now at $337. I'm 50% long the PMs with a few bids under market in case I should get lucky :grin: Just what if the Greenman is buying gold and jacking up the price to make it look like his reinflation project is working? They are in a panic over there at the FED you know. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted December 16, 2002 Report Share Posted December 16, 2002 That is exactly the point! THe fools will think that gold is going up is a sign of growth! When actually it is a sign of the weakening dollar. Stoolflation, I say. Link to comment Share on other sites More sharing options...
summoner Posted December 16, 2002 Report Share Posted December 16, 2002 Happy I closed my SPX and SOX puts on Friday at support, also covered my ELX short friday for 5 points.. still holding MXIM short and picked up 15 SPX Jan 950 puts today at the close ...IMHO a gift day for bears ...still long and strong physical, GG and DROOY. Will be looking to short ELX again in the next few days...Trade Safe All.... PS could someone post a Bradley chart or link to one .Thanks! Link to comment Share on other sites More sharing options...
The End Posted December 16, 2002 Report Share Posted December 16, 2002 I see a move to 940-970 (spx) Sorry guys and gals. Link to comment Share on other sites More sharing options...
wndysrf Posted December 16, 2002 Author Report Share Posted December 16, 2002 In response to the e-mails I received today about covering shorts. When we go down on light volume for several days in a row, and there is no selling acceleration, and Al Green comes in at 3:00am with a futures jam, and Europe ramps with it, then from now on I will employ the following strategy: COVER SHORTS FIRST AND ASK QUESTIONS LATER!! I will no longer subject myself to humiliation by riding out these 4 - 10 day squeezes, and not acting on the long side so that the Stool Pigeons can participate and/or preserve their short sale gains. I will not be made an idiot by this constant jamming and manipulating. It has gone on long enough. There is nothing outside of a nuclear bomb blast that will prevent these periodic upside runaway rallies. Too bad it took me over 18 months to learn a lesson, but better late than never..... I will repeat. The biggest lesson to be learned during this bear market is the following: Large short sale gains are rare. Anticipating short squeezes and bounces can produce many singles and doubles if profits are taken quickly. Unless we reach a point of gross overbought conditions with the VIX around the 20 area, the easier money will be made by participating on the long side during these bounces. I admire PileDriver and Brian4 for hanging tough. But from now on, I will be "following the bouncing ball". Shorts Beware. QQQ stochastics and money flow are turning up from the basement. Same with DELL, CSCO, and AMAT. AskResearch QQQ Link to comment Share on other sites More sharing options...
Metamucil Posted December 16, 2002 Report Share Posted December 16, 2002 Metamucil, I'd be disgusted but not surprised if Da Boyz manage to put in a right shoulder before we continue down. I would be careful playing the short side but then again, there's no way that I'd go long from here. The market will resume its slide eventually, but the year-end beckons the fund managers like a hooker on Broadway. The only solid play out there at the moment is gold. Just look at the charts! Imagine the short squeeze when the bullion banks scramble to get onside of the gold carry trade. Rumor has it that that could happen in the mid $330s. We are now at $337. I'm 50% long the PMs with a few bids under market in case I should get lucky :grin: Yep, which explains why I am already heavily short. SPX, NDX, USD, BBH, SMH, builders, bankers and FNM. ....and why I have been accumulating gold every month, since 1981! (2 years ago, I couldn't give it away). Scam week is a time for planning....and, for me, taking a much closer look at the commodity markets. Take care. Link to comment Share on other sites More sharing options...
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