Drano Posted February 28, 2003 Report Share Posted February 28, 2003 You'll have to be quick if you want to see this -- http://money.cnn.com/markets/morning_call/ CNN/Money's chart of the Nas right now at 8 P.M. looks just like a cartoon of a hand giving the finger. I had heart failure earlier when their data was screwed up and they were showing SPX at 20 points over fair value. All fixed now. Link to comment Share on other sites More sharing options...
On The Beach Posted February 28, 2003 Report Share Posted February 28, 2003 Shorty wrote: " The Dow will bottom somewhere around 6500." My test is met when ex-TV personality Larry Krudlow looks like this: Link to comment Share on other sites More sharing options...
Mr. Beal Posted February 28, 2003 Report Share Posted February 28, 2003 Sustained higher energy prices would indeed crush the economy and stock market. Crude is too hard for me to trade though so I will watch from sidelines. I was long April gold 360.30 and bailed out in disgust today at 347. Should I buy back in if 345 holds for a couple days or wait until back above 360? What is the safest gold stock to get long now? Is there any good way to play crude more safely via a particular stock? Thanks for ideas. Also thanks to Mark and everyone else for the great info here. I got hurt in GC today too (353) but I'm sticking until it shows me it doesn't want to hold 345. All commodities are hard and I admit I too am not tossing tickets into the Crude pits. Tig 'O has been pointing @ yahoo ^OSX for oil service stocks I share your frustration but I know there is a tradeable trend here that like any other mostly will require discipline. FWIW I had GC at 347 to 360 gave it back to 353 and reentered. So I don't know Dung. Beal Link to comment Share on other sites More sharing options...
Cassandra Posted February 28, 2003 Report Share Posted February 28, 2003 All this talk about "weapons of mass destruction". We have our own weapon of mass destruction right here on Wall Street. It's called The Stock Market. We should get the Arab countries to invest all their money in it; we could wipe them out in no time. Then they'd have no money left to finance terrorism. Link to comment Share on other sites More sharing options...
phatbubble Posted February 28, 2003 Report Share Posted February 28, 2003 while i'm thinking about it....bill meridian's study of 70 or so years of market data & moon cycles suggests that the most bullish eighth of the cycle is heading into the new moon - not during, or after. new moon on sunday. Link to comment Share on other sites More sharing options...
wndysrf Posted February 28, 2003 Author Report Share Posted February 28, 2003 Cassandra: You have it backwards. The Arabs have the Weapons of Mass Destruction: Outlandish amounts of U.S. Dollars and U.S. financial investments. One day, they are going to dump these on the market at the same time, at a critical inflection point, and cause the "unexpected" gap down we've been waiting for... Link to comment Share on other sites More sharing options...
Grizzly_Canuck Posted February 28, 2003 Report Share Posted February 28, 2003 Arch Crawford interview w/ Ike Iossif tonight: Aegean Capital Link to comment Share on other sites More sharing options...
Guest Posted February 28, 2003 Report Share Posted February 28, 2003 Now that Mark, I could realistically see happening much more than Joe Sixpack selling his. Link to comment Share on other sites More sharing options...
On The Beach Posted February 28, 2003 Report Share Posted February 28, 2003 Best case for the bulls is Saddam and all his relatives who control the secret police etc. are taken out by special forces or rivals, or they voluntarily flee the country. A new U.S. friendly regime peacefully takes over and pumps cheap oil, the troops all come home and buy more new homes and SUV's and the economy booms. The odds of this are so low it is not worth betting on. Worst case for bulls is war goes badly, chemical/biological/nuclear weapons kill many thousands of U.S. troops over there and civilians over here and general panic ensues, hostages and blackmail used to thwart U.S. while North Korea swarms over the DMZ and China seizes Taiwan. Massive terrorist strikes hit the U.S. homeland. This is possible but also unlikely. Expected case is the Saddamites fight to the bitter end, lose, but create much fear uncertainty and doubt in the meantime which pops the bulls bubble of expecting a quick and easy war rally, so the market careens lower and the public remains way too scared to buy. It will not be quick and easy because unlike running the Iraqis out of Kuwait via an on-the-run target shoot, this time they are dug in at home among civilians and underground and it will take a long time to get them to surrender, they are not just surrendering an already raped/pillaged/looted country and running home with their loot, this time they are surrendering their home and their power and probably their lives. George W. and company, and the powers that be, have been planning this for a year and a half, and will spare no expense to conquer Iraq, and they will. But it will be very, very messy and dirty. Until it is over (October?) all rallies caused by panicked shorts getting goosed will be selling opportunities until the Commercials have blown out most of the Small Speculator longs, and have covered their short positions at much lower prices than today. When the housing bubble bursts those who were clever enough to profit from it and get out with lots of money will not be putting that money back into real estate, nor bonds.....they will be putting into selected commodities but MOSTLY back into stocks, which are much easier to manipulate higher to make money, especially once most of the public has been flushed out. There are already too many people focusing on being short, but the bear market is not over yet, it is just nearing its end. The Dow will bottom somewhere around 6500. Finally, the proof we were all looking for. http://www.iol.ie/~forsacosanta/world_needed_proof.htm maxb: Classic! :grin: Link to comment Share on other sites More sharing options...
brian4 Posted February 28, 2003 Report Share Posted February 28, 2003 PHAT-No I am not straddled-took it off yesterday-dumb move-it's really this simple we crap out anywhere from here to 853-if and I say if we get over 853 then it gets dicey as it MUST craqp out around 870-hedge goes back on tomorrow if we get to 85053. p/c ratio closed at an insane .55 the bull boat is so full I am surprised it's not taking on water-that is bearish. Bernie Schaeffer a Gold bull of long standing went neutral today-OUCH! Break $338.- I will too. Trade Safe! Link to comment Share on other sites More sharing options...
Guest Posted February 28, 2003 Report Share Posted February 28, 2003 You'll have to be quick if you want to see this -- http://money.cnn.com/markets/morning_call/ CNN/Money's chart of the Nas right now at 8 P.M. looks just like a cartoon of a hand giving the finger. Drano, is this what you saw? Link to comment Share on other sites More sharing options...
wrecked him Posted February 28, 2003 Report Share Posted February 28, 2003 ?p/c ratio closed at an insane .55 This is the total p/c ratio Equity p/c ratio closed at .44: This is considered a "run for the hills" signal as per Z. Hed on Ihub. I have always understood that if equity p/c ratio is less than .45, look out below. Does anyone disagree with this? WH Link to comment Share on other sites More sharing options...
Tig 'Ol Bitties Posted February 28, 2003 Report Share Posted February 28, 2003 Probably general interest stuff though ... not bukkake films. But you never know! machinehead, I saw that movie, cant believe he sat there in the middle the whole time. Link to comment Share on other sites More sharing options...
brian4 Posted February 28, 2003 Report Share Posted February 28, 2003 No disagreement -WH- BUT the p/c ratio is like overbought, Dover Sole it can continue to go even lower-Trade Safe! Link to comment Share on other sites More sharing options...
Tig 'Ol Bitties Posted February 28, 2003 Report Share Posted February 28, 2003 P/C notes Equity at 0.44 and things were looking so good there last week. 21dma is at 0.78 moving down from the 0.79 recent highs. Composite at 0.55, 21dma is 0.91 coming down from 0.93 recently. The 5dma is down to 0.72 from 1.08 two weeks ago. The water is officially so cold it will turn your satchel of goodies into change purse. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.