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Kathie Lee Gifford (intc)


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Yes, a pop is looking more unlikely now. The market today is weak with the index a couple of points up but battling to hang in. It did an unconvincing close above resistance yesterday so I'm thinking we could easily end up in the red today, back in the resistance zone. The golds are down again today, the charts for them not looking good in the short term.

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Brian,

 

I agree. Unless they make a miracle save on the Chip Equips, we should GAP down in the AM. But as we all know, anything is possible.

The market closed even to higher on the jobs report last Friday so anything is possible. It's all hope and dope and wild ass speculative mania.

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DA BOYZ are buying puts- SPX leaps today calls 3-puts 5,231-mini NDX leaps today calls zero puts-1,000-cboe.com/statistics now remember the commercials do this because leaps are NOT INCLUDED in the p/c/ratio so it's hard for us to follow the hot money. p/c ratio today .70-Trade Safe!

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Interesting setup here.

 

Bill Murphy on LeMetropole Cafe says sellers of gold shares today will be "heartbroken".  He predicts a huge gap up on gold any day.  Based on the fact that huge speculative longs are battling the bullion banks, who are shorting the metal like there is no tomorrow, and the shorts are running out of gold to sell.

 

Eventually, they will have to reverse and start covering.

Bill has been predicting the "death gap up" :o for the "cabal" at 300 then 310 then 320 then 330 then 350 ... :lol: :lol: :lol:

 

He keeps moving the line in the sand for his spectacular short squeeze. The commericals sell for the mines, CBs, IBS, IMF, WB, etc. There is massive supply waiting to be sold. How long can demand continue to absorb this huge overhead supply?

 

The chart will tell us NOT Bill M. Although it is fun to read his rants. :lol: :lol: :lol:

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I think Dr is right, we give the Fed too much credit

for moving the market around.

 

As the below chart shows, the sellers are on strike.

 

http://www.saavycharts.info/

 

But this is good news - there are going to be plenty of stranded longs who are going to be selling soon enough.

 

The real floor to the market has been short interest. And with the sellers on strike the prospect of future short covering

reduces.

 

Given no one on Wall Street shoots straight these days - I figure we probably need to get through earnings season (smoke & mirrors season) before this really accelerates on the DOWNSIDE.

 

By that stage Vesselin's indicators will be a screaming sell.

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NazQuack is now 7.45 points below Fair Value-Elvis may be leaving the building! Trade Safe!

Gosh O' golly, I sure as heck hope you are right. I am way out on a limb with IBM shorts. Shorted it again today at 88.50.

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