GregFokker Posted August 1, 2003 Report Share Posted August 1, 2003 Lower equities, lower bonds, lower gold, higher dollar. Bearish engulfing in mortgage and refis this week, and in the levels of Feed. Sounds like the reverse of the Spring rally. Take it away, Stoolies. Link to comment Share on other sites More sharing options...
Guest Posted August 1, 2003 Report Share Posted August 1, 2003 Waaaaaay too much put buying today to sustain any significant sell off! Link to comment Share on other sites More sharing options...
seamus Posted August 1, 2003 Report Share Posted August 1, 2003 Nice shooting star on DIS today - with volume. Looking for a pullback to the 50d ema ~ 20 1/2 Link to comment Share on other sites More sharing options...
Guest Posted August 1, 2003 Report Share Posted August 1, 2003 After over a month of being long, I sold and went short only to spot the remaining XLNX longs for over a few grand by the end of the day (I closed the long this morning at 26.35 and shortly thereafter opened the short at 26.28). So now I am again fully into the question, "What does it take to bring this thing down?" or, "Will it stay irrational longer than I can stay solvent?" Stay tuned. . . Link to comment Share on other sites More sharing options...
seamus Posted August 1, 2003 Report Share Posted August 1, 2003 AW brokedown today on missed earnings. Looking for a test of the 20d ~ 11.5 for a short Link to comment Share on other sites More sharing options...
MyGoldenStool Posted August 1, 2003 Report Share Posted August 1, 2003 Verizon Strike Could Pressure Telecom Equipment Link to comment Share on other sites More sharing options...
soft one Posted August 1, 2003 Report Share Posted August 1, 2003 I think the market may not fall dramatically until everyone is tired of watching it and gaming it daily. That may take awhile, long enough to wear out the options players on both sides. Link to comment Share on other sites More sharing options...
Guest Posted August 1, 2003 Report Share Posted August 1, 2003 This is my take on today's action. As they caned the gold contract into the ground they were bidding for the equities. Put the miners on weekly charts and you'll get a clearer picture on where the gold bugs indices are headed. Link to comment Share on other sites More sharing options...
strikerm3 Posted August 1, 2003 Report Share Posted August 1, 2003 I think the market may not fall dramatically until everyone is tired of watching it and gaming it daily. That may take awhile, long enough to wear out the options players on both sides. that era is over i believe! Miners held nicely today with the weakness in gold... Link to comment Share on other sites More sharing options...
The End Posted August 1, 2003 Report Share Posted August 1, 2003 950-960 next week. (wed.?) We shall see. Have a great weak-end stoolies. Link to comment Share on other sites More sharing options...
BartTheBear Posted August 1, 2003 Report Share Posted August 1, 2003 Anybody read Fleck's column tonight? I'd like to post part of it but I don't know what the rules are concerning that. (I queried RealMoney about that and got zero response). Anyhow, in a nutshell Fleck cites one of his old school bond trading buddies who calls for rates on the 10-year @ 6% by december. He says institiutions can't get out because wall street isn't bidding. LTCM is going to look like a hiccup by comparison. Link to comment Share on other sites More sharing options...
Tchaikofsky Posted August 1, 2003 Report Share Posted August 1, 2003 Art Crashin' on Crapvision just now said he's looking for the MoGauge next Wednesday. Sez that re-fi apps are down from 10,000 in the last week of May to 4,000 in the last week of July. A 60% drop! "The consumer has been tapping his house for money to keep the economy going and that looks like it's drying up." Is he a lurker? Link to comment Share on other sites More sharing options...
The End Posted August 1, 2003 Report Share Posted August 1, 2003 If rates on the 10 year go to 6% by December of this year.... Well, I doubt it. Link to comment Share on other sites More sharing options...
BartTheBear Posted August 1, 2003 Report Share Posted August 1, 2003 If rates on the 10 year go to 6% by December of this year.... Well, I doubt it. Me too, but hell who knows in this enviornment. Link to comment Share on other sites More sharing options...
mjkst27 Posted August 1, 2003 Report Share Posted August 1, 2003 If rates on the 10 year go to 6% by December of this year.... Well, I doubt it. why doubt it? who's going to buy all that paper? even if the treasuries don't get to 6%, mortgages are determined by agency paper anyway. Whenever treasuries find their footing, I think agencies are just going to keep on sliding. That will have a lot of people all messed up on their portfolios, just like LTCM. And with a slowing consumer, the foreign CB's won't have as much paper to recycle, = less demand for US fixed income securities. Link to comment Share on other sites More sharing options...
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