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M2M Labor Day Weekend


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Largest volume in the miners I have seen in many moons.

Forget GG and GLG

 

SLW 280% volume

SSRI 270%

EGO 231%

CDE 187%

CAU 180%

BGO 179%

PAAS 174%

NXG 173%

FRG 154%

CCJ 144%

CBJ 137%

TRE 126%

HMY 121%

 

Hopefully they continue tomorrow. I will be watching the volume closely. Long NXG and DROOY

 

 

GSS was down on 227% volume. EZM down as well and not much volume in DROOY. Looks as if the low quality is getting overlooked for the higher quality.

 

 

 

 

After the bell NXG went ballistic. Trades went off to 5.00. Up 25% at one point with over 20% volume after the bell.

Now it is back to 3.90. I just bought again after selling at 4.25 an hour ago for a 15% trade on the day....gotta love it!!

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Flex-fuel fans beware

Consumer Reports says mileage takes a hit with ethanol blend

 

 

By Shawn Langlois, MarketWatch

Last Update: 8/31/2006 6:25:00 PM Data provided by

 

SAN FRANCISCO (MarketWatch) -- Sport-utility loyalists may be four-wheeling through the wrong mud bog if they think ethanol-friendly SUVs will cut gas costs and help the U.S. curb its dependence on foreign oil, according to a Consumer Reports study released Thursday.

 

The consumer watchdog publication ran a battery of tests on the 2007 Chevy Tahoe flexible-fuel vehicle, which can run on either E85 -- a mixture consisting of 85% ethanol -- or gasoline, and found that the SUV's mileage dropped from 14 mpg to 10 mpg on E85.

 

The decline could be expected in any flex-fuel vehicle, the report said, because ethanol has a lower energy content than gasoline.

 

Data from the National Highway Traffic Safety Administration show that ethanol has 75,670 BTUs per gallon instead of 115,400 for gasoline, which means that you would have to burn more fuel to generate the same amount of energy.

 

So the already expensive fill-up gets even more painful. With E85 costing an average of $2.91 in August, the fuel-economy penalty means drivers are essentially paying almost $4 for the equivalent of a gallon of gasoline, the report said.

 

Another way of looking at it: Consumer Reports found that the Tahoe's driving range decreased to 300 miles on a full tank from 440 on gasoline -- more trips to the pump, if drivers can even find a pump.

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According to sentimentrader.com, their "Smart Money/Dumb Money" indicator is foretelling a top of some magnitude in the offing.

 

Jason Goepfert developed this indicator based on many different inputs. In short, when the "Smart Money" dips to 40% or below, a top is nearby. When the "Dumb Money" rises above 60%, same story.

 

As of today, the "Smart Money" indicator dipped under 40% (actually 38%) for only the third time since the 2002 lows. The prior two occasions were January 2004 and late March 2006.

 

In 1/04, the Nadsaq topped within days and began a harsh selloff while the SPX declined then re-rallied and topped about seven weeks later. Ultimately, the NDX fell 17% and the SPX 9%.

 

In 3/06, the NDX topped within days while the SPX sold off and re-rallied to a minor new high five weeks later. Ultimately the NDX fell 18% and the SPX 8.3%.

 

The "Dumb Money" indicator is now at 54%, on the plus side of neutral. So it has room to climb some more.

 

Goepfert says that this indicator is not a "timing" measure, but more of a warning signal.

 

If this indicator is correct---and it has been for four years---there is likely very little upside ahead though the fraudexes could hold up until the first two weeks of Oct (right before yearnings). It would certainly be a surprise to many if Oct turned out to be a high, not a low.

 

If we are heading towards another top of some kind, I would imagine the gold schtocks would not be immune in a selloff.

 

BTW, this scenario also fits into the notion of a continuation of the trading range b/w 1219-1320 (give or take a percent or two) into the end of the year. It also fits into the Neener-Neener notion of a selloff into December.

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According to sentimentrader.com, their "Smart Money/Dumb Money" indicator is foretelling a top of some magnitude in the offing.

 

Jason Goepfert developed this indicator based on many different inputs. In short, when the "Smart Money" dips to 40% or below, a top is nearby. When the "Dumb Money" rises above 60%, same story.

 

As of today, the "Smart Money" indicator dipped under 40% (actually 38%) for only the third time since the 2002 lows. The prior two occasions were January 2004 and late March 2006.

 

In 1/04, the Nadsaq topped within days and began a harsh selloff while the SPX declined then re-rallied and topped about seven weeks later. Ultimately, the NDX fell 17% and the SPX 9%.

 

In 3/06, the NDX topped within days while the SPX sold off and re-rallied to a minor new high five weeks later. Ultimately the NDX fell 18% and the SPX 8.3%.

 

The "Dumb Money" indicator is now at 54%, on the plus side of neutral. So it has room to climb some more.

 

Goepfert says that this indicator is not a "timing" measure, but more of a warning signal.

 

If this indicator is correct---and it has been for four years---there is likely very little upside ahead though the fraudexes could hold up until the first two weeks of Oct (right before yearnings). It would certainly be a surprise to many if Oct turned out to be a high, not a low.

 

If we are heading towards another top of some kind, I would imagine the gold schtocks would not be immune in a selloff.

 

BTW, this scenario also fits into the notion of a continuation of the trading range b/w 1219-1320 (give or take a percent or two) into the end of the year. It also fits into the Neener-Neener notion of a selloff into December.

 

Nice post DMM. And I was just about ready to go long after a brief pullback from current resistance... I guess I am "dumb money" :lol: I'll continue to play with caution... and put stops under my miners.

 

Bung

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No wonder the tech companies did not want to expense options.

From OVTI today:

 

"Quarterly earnings rose to $15.9 million, or 28 cents per share, from $14.4 million, or 25 cents per share, during the same period a year earlier.

 

Excluding the effect of $6.5 million in stock options expenses, OmniVision recorded adjusted income of 39 cents per share in the first quarter."

 

30% of the profit out the door in stock options.

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No wonder the tech companies did not want to expense options.

From OVTI today:

 

"Quarterly earnings rose to $15.9 million, or 28 cents per share, from $14.4 million, or 25 cents per share, during the same period a year earlier.

 

Excluding the effect of $6.5 million in stock options expenses, OmniVision recorded adjusted income of 39 cents per share in the first quarter."

 

30% of the profit out the door in stock options.

 

 

I think that is low for some of them :lol:

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Too many of you are off to what it appears are very pleasant weekends; and so envy compels me to offer a little reading material designed to give all of you Labor Day weekend merrymakers something to raise your bile:

 

 

"Monsanto buys 'terminator' seed company", by William Engdahl"

 

I know you'll never forgive me, but what else can I do to enmiserate peace-loving citizens---after all, rolling boulders down upon people's homes was outlawed years ago.

 

Seriously, I double dare you to read this till the bitter end.

 

beardrech :ph34r: :ph34r: definition of a puritan-"Its terribly disturbing to know that Somewhere, someone is having too good a time"---

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