wndysrf Posted January 20, 2006 Report Share Posted January 20, 2006 Once again, the PigMen are having a field day. So far, they are off to a fantastic this year. Note how the XBD Index has barely budged from its highs. But the BKX got clobbered. Why is that?? Look no further than the Yearnings Reports from JPM, C, and BAC. Full of language about how results were weaker than expected. Because of a flat or inverted yield curve? No. Because of higher credit card delinquencies? No. The reason is because of lackluster trading results. No doubt, the banks are way behind the curve. They are getting fleeced by the PigMen Prop Desks. In fact, the PigMen have gotten so good, they are even pulling off fantastic plays on the bank stocks themselves. Of course, the banks are all in on the gig of trading their own stocks amongst themselves, since they can "manipulate" the spoos by bidding up the price of their own shares. "Hey, you buy my stock and I'll buy yours!! It will create the false illusion of a flurry of trading activity, to create more demand for the shares, as Jimmy Jones Cramer is likely to start pumping our stock due to "unusually heavy trading volume". "Booyah!!!" "Yeah, Booyah and Skeedaddle too!!" Little did these clown traders at the banks know that the PigMen were about to clothesline them. They did it by propping the stocks up, creating the illusion of a "bull flag" for all the "FOMC is Finshed" rally hopers, knowing that the upcoming Yearnings Reports were going to be miserable. How did they know that? They knew by how much money they were taking away from the banks each day on various PigMen Reversal Plays on individual stocks. So it was a slam dunk that the earnings were going to miss.... Hence, the textbook perfect consolidation right down to the 50-day average.... Then, SHANK!!!! Hats off to the PigMen!!! Link to comment Share on other sites More sharing options...
Drano Posted January 20, 2006 Report Share Posted January 20, 2006 At least I was right about one thing. I posted the other day that GM would close within a dime of 20. Almost posted "within a nickel" but the last time I did that, it closed 6 cents away from my target. GM closing at 20.05. Hey wait, make that 19.99 :lol: Link to comment Share on other sites More sharing options...
Sudaca Posted January 20, 2006 Report Share Posted January 20, 2006 I need a refreshment Link to comment Share on other sites More sharing options...
Sudaca Posted January 20, 2006 Report Share Posted January 20, 2006 VXN at 9 month high Link to comment Share on other sites More sharing options...
Sudaca Posted January 20, 2006 Report Share Posted January 20, 2006 TRIN ended above 2.00 Link to comment Share on other sites More sharing options...
Charmin Posted January 20, 2006 Report Share Posted January 20, 2006 all climactic near term selling must be bought with a vengence.. at least that's the rule of the bulls... today might change it .. Link to comment Share on other sites More sharing options...
Sudaca Posted January 20, 2006 Report Share Posted January 20, 2006 Equity Put/Call ratio also at a relatively high level... similar to mid-October Link to comment Share on other sites More sharing options...
Sudaca Posted January 20, 2006 Report Share Posted January 20, 2006 So there are some elements that suggest a short term bounce, but after that is a different story Link to comment Share on other sites More sharing options...
Bungster Posted January 20, 2006 Report Share Posted January 20, 2006 Equity Put/Call ratio also at a relatively high level... similar to mid-October <{POST_SNAPBACK}> Buying opportunity in a week?? Bung Link to comment Share on other sites More sharing options...
Tchaikofsky Posted January 20, 2006 Report Share Posted January 20, 2006 4:20 pm: Infected with wide-spread selling, Friday's stock market steadily slipped from bell to bell. A trio of disappointing fourth quarter earnings reports paired with the surging price of crude in pushing the indices to their worst performance in nearly a year and a half, and to losses that erased much of their average 3% year-to-date gain. Volume was higher than average, an indication of conviction behind the move. Uncertainty over Iran helped send crude to a four-month high of $68.35 per barrel. Reports that the country is moving funds out of Europe to shield them in the event the U.N. imposes sanctions for its nuclear ambitions, and that it may cut its OPEC output and withhold oil from the market, rocked trade. At the same time, crude's rise did little good for the Energy sector (+0.2%), and even it couldn't escape the effects of broad-based selling. One of the market's sole bright spots lied there, though. Following a much better than expected earnings report from Schlumberger (SLB 122.21 +7.34), as well as its assertion that its top line growth during the current fiscal year should be similar to that of 2005's, the Oil Services Index rose about 1.8%. With earnings season in the spotlight, lackluster results from General Electric (GE 33.37 -1.31) and a disappointing decline in profits from Citigroup (C 45.76 -2.18) tanked the Dow. As these reports come on the heels of similar upsets from high-profile names like Intel, Yahoo, and Apple, the market reacted aggressively. While only about 20% of the S&P 500 has thus reported Q4 results, today's batch nonetheless gave investors reason to maintain a defensive stance. Because of GE, Industrials fell 2.3%. Due to C, Financials dropped 2.1%. A yield curve that spent most of the session Link to comment Share on other sites More sharing options...
cwd Posted January 20, 2006 Report Share Posted January 20, 2006 At least I was right about one thing. I posted the other day that GM would close within a dime of 20. Almost posted "within a nickel" but the last time I did that, it closed 6 cents away from my target. GM closing at 20.05. Hey wait, make that 19.99 :lol: <{POST_SNAPBACK}> As Dr Bob said they are letting GM just fade away. Shorty's putz spreads are doing great. Muy 20jans expired worthless and I am rolling into short17.50 feb puts against a long jan 08 35 which at had almost no premium at the time I purchased them. Thanks Shorty and Dr Bob for sharing with others on this site Link to comment Share on other sites More sharing options...
wndysrf Posted January 20, 2006 Author Report Share Posted January 20, 2006 Short term, we might be sold out. But there are now major warning signs all over the place. And that is ALL TIME RECORD SELLING VOLUME in lots of big names, like INTC, YHOO, MOT, GOOG, C, GE. Now we have a signal of a possible major long term top. Today changed everything for the worse. When you get a signal like that, its best to pay attention. Of course, we also must be vigilant of a possible PigMen Reversal in front of a rate cut or something, but the odds of that happening now are on the low side. Ready for anything. Luckily, no sell signal on the oils or golds yet. But I'm watching like a hawk..... Link to comment Share on other sites More sharing options...
Guest Posted January 20, 2006 Report Share Posted January 20, 2006 all the "FOMC is Finshed" rally hopers I see Yellen came out with another "we're not finished" trial balloon today, following Hoenig (a non-voting member) last week. Wish I could see inside Bernanke's mind. Has he really drunk the Kool-Aid, or, like Greenspan, is he sandbagging? Maybe it's the latter after all. Let Milton Friedman think the gov't actually buys his monetarist nonsense, while in reality they have an utterly clear understanding of Austrian economics and how to pervert it for wholesale plunder via orchestrated booms and busts. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted January 20, 2006 Report Share Posted January 20, 2006 and in other news today,lowly ranked 'Club Bears' scored a surprising second win in a week. Super Coach K-Wave threw caution to the wind and decided to try a couple of journeymen in a last ditch attempt to stop the rampaging bulls. Journeymen Shorty and Brisbane Bear battled manfully and managed to drive back the bulls and score a well deserved victory. Brisbane Bear who hasn't scored in nearly 3 years finally got the monkey off his back with a magnificent solo effort against all the odds. After the game Super coack K-Wave Rider said that he was taking it 'One game at a time' Brisbane Bear was last seen dancing naked in the showers. Link to comment Share on other sites More sharing options...
zman Posted January 20, 2006 Report Share Posted January 20, 2006 and in other news today,lowly ranked 'Club Bears' scored a surprising second win in a week. Super Coach K-Wave threw caution to the wind and decided to try a couple of journeymen in a last ditch attempt to stop the rampaging bulls. Journeymen Shorty and Brisbane Bear battled manfully and managed to drive back the bulls and score a well deserved victory. Brisbane Bear who hasn't scored in nearly 3 years finally got the monkey off his back with a magnificent solo effort against all the odds. After the game Super coack K-Wave Rider said that he was taking it 'One game at a time' Brisbane Bear was last seen dancing naked in the showers. <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
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