Well, the descending triangle is complete, but we'll have to wait 'til tomorrow for a breakout. This pattern gives a slight edge to the bears, with the progressively lower highs... and theoretically argues that we should see the low 810s fairly soon. But the direction of the coming break should still be respected.
167 replies to this topic
Posted 24 February 2003 - 06:12 PM
Just reposting this chart from IDS. Sometimes the simplest patterns are the most reliable.
In honor of the times, back to the 2008 signature:
"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday
Posted 24 February 2003 - 06:13 PM
Love the newly animated Avatar.
Slim chance that last arc will hold this load.
Posted 24 February 2003 - 06:13 PM
Yes, I like Norah Jones -- she is a genuine talent, and seems to have a healthy cynicism about the star machine. Hopefully she'll continue to develop as an artist and not let this ruin her.
However I doubt very much that she would ever have been able to hook up with Blue Note records, good producers, relatively decent budget for recording, etc., if not for connections, which unfortunately is how things are done in the music biz, more so these days than ever before. Sad but true -- there are many thousands of equally talented people who don't manage to make that one crucial connection or get that one break. At least she seems deserving of this success, unlike the Britney Spears types.
Ha, it would be fun to have you astro boys take a peek at her chart!
Of course I'm caustic!
Posted 24 February 2003 - 06:15 PM
y'all rappin' bout Epstein-BARRon's virus?
"The sphinx set riddles for people which they could not solve and the sphinx devoured them." Russian poet Ilia Ehrenberg reflecting years later upon the debacle of the Bolshevik Revolution and civil war
"In any case, experience shows people are unlikely to change their ways without a cataclysm of existential proportions" Meinhard Meigel, German economist and demography expert on his prophecy of a Wagnerian abyss of social and economic chaos
"We believe that here is no easy way out of this mess, and that the chance of a benign outcome, while hopefully possible, is quite low." Comstock Partners 3-17-2005
"Not without a shudder may the human hand reach into the mysterious urn of destiny." Junk email promoting the sale of Valium, Viagra, Soma and Cialis. Of course, we AMERICANS need not WORRY about such CLAPTRAP!!!
"The trouble about myths, or lies, is that those who foster them are stuck with them." Edward Crankshaw
"I don't buy the idea that a crash will come without warning. There are always warnings. All crashes have certain common technical preconditions." Doc (snorjt)
"YOU look IMPORTANT. Are you important, or just....WEIRD?"
"Bob I am" at a political gathering, to HRFF, 9-29-04
"Are YOU C.I.A.???"
"No, I'm not "CIA"."
"Well, you sure LOOK LIKE you're C.I.A.!!!"
Lead singer of the rock band KISS to HRFF at a luggage carousel at SeaTac airport circa 1996
"Unlike you, I use words people can understand." Doc
"America at the moment, with its faith-based currency, faith-based economy and faith-based government, might be a heaven for those who love faith, but it's a hell for those of us that respect evidence." The Daily (W?)Reckoning, circa 9-17-04
"What should be clear at this point is that even huge fiscal stimulus and unprecedented financial excess are incapable of fostering a sound and self-sustaining economic expansion. The paramount issue, today and going forward, is the deeply maladjusted U.S. economy and its increasing unresponsiveness to even enormous yet misdirected financial stimulus. Both the Financial Sphere and Economic Sphere are severely maladjusted." Doug Noland's Credit Bubble Bulletin, Aug 24 '04
"U.S. dollar purchasing power relies almost entirely on the difference between interest rates in Japan and the higher rates in the United States." Warren Pollock, Prudent Bear essay circa 9-04
"What about your replacements? the Children. What do we tell them when the whole thing caves in?" HyperTiger
Posted 24 February 2003 - 06:25 PM
Leslie LaRoche cannot stop spending money on leather outfits.
Coach (COH) blew away estimates, raised guidance. Anybody have an AH quote??
Looks like a big gap up on this one in the am....
PigMen Proprietary Trading Desk
The Weimar Run: Bullphoria!!!!
Posted 24 February 2003 - 06:27 PM
I always thought Ravi Shankar played Cricket for India.
Posted 24 February 2003 - 06:29 PM
Last trade 33.49
Posted 24 February 2003 - 06:34 PM
yeah. i'm in the biz. when i'm not creating cyclops out of crapvision hosts.
britney, like the nsync crew and many other bubblegum acts, actually does have talent and can sing. and has worked her ass off to create her success. but with the possible exceptions of justin & dirrty girl, they'll all have done the mastodon shortly - not because of whether they had talent, but due to what they did with it. it doesn't help that the industry is trying desperately to hit home runs with the teen market, because singles & doubles won't keep the lights on anymore.
funny, the last time we had a wave of boybandia was just before the last economic downturn. is this a leading indicator? if so, let's hope it's quantitative - last time all we really had was NKOTB, and all we got was a short recession.
Quod Severis Metes
Your life is the sum of a remainder of an unbalanced equation inherent to the programming of the Matrix. You are the eventuality of an internal anomaly, which despite my sincerest efforts, I have been unable to eliminate from what is otherwise a harmony of mathematical precision. While it remains a burden assiduously avoided, it is not unexpected, and thus not beyond a measure of control. Which has led you, inexorably, here.
You haven't answered my question.
Quite right. Interesting. That was quicker than the others.
Posted 24 February 2003 - 06:38 PM
I don't know Cuz, I've seen her on the cover of Sunday Supplements and other entertainment mags for weeks now. I even commented to Madame Dung, "Who is the person. All of a sudden she is everywhere." Her PR isn't shabby for someone who shuns it.
Posted 24 February 2003 - 06:38 PM
Best trend in business continues to be gaming the criminal OE move a week before. Now that players have swept both sides, the intermediate trend is reasserting itself. I had thought this action would begin on Tuesday. Though charts and waves are interesting, the probability of some forensic plays each month is just too good to ignore. EOM play begins at end of this week but until then I suspect we see continued tankage. I do not beleive the EOM play is as strong however as the OE Racketeering Reversal. That Wall Street Journal article on the Casino sounds like it was written right here at the Stool. Finally someone is saying in the conventional press what we have been arguing all along. That anal cysts exist as pit bosses in the Casino. Mere cogs in the trading machinery. Starter pistols at the Dog Races. Nothing more need be read into their line of operations. They serve the mammoth and insatiable distribution machine. Nora is something different however. She may well be a one shot wonder. But her appeal has more to do with a dearth of musicality in the industry than anything else. Look around and you see hers was the only sweet,melodic and original voice out there in a sea of crazed sharks and monochromatic hypsters. Whats always amazing to me about the Grammys is how untalented so many of the megastars are. I still can't understand a word that comes out of Bruce's mouth and just don't get that over-the-top,unctious delivery. If the guy is having trouble squeezing one out than sorry, let him do it in his own time and in private. Why broadcast the image of pained,throne-sitting to billions?By the way,When the hell are the miners going to step up to the plate and show some moxy?
Posted 24 February 2003 - 06:40 PM
Prof Calculus - that was Ravi "Shastri". Got to keep your Ravi's straight
Posted 24 February 2003 - 06:55 PM
Hats off to Budda for OERR Theory (OE Racketeering Reversal)
I was paying attention to what you said. Its yet another reason why I stayed short through the joke and didn't bother with donged screamer hedges.
Keep us up to date next month.
BTW, when the bombs drop so does Mr Marke. That's a fact.
Posted 24 February 2003 - 07:10 PM
I'm reposting this article GregFokker posted on IDS this afternoon. I culled my favorite line from the article given by the XLNX CFO, Chrass Cheatem.
"The telecoms sector I think* has stopped getting any worse," Chief Financial Officer Kris Chellam told the crowd."
*italics added by MD
Posted 24 February 2003 - 07:14 PM
I just received an invitation for a cnbs seminar on how to get through these tuff times.
Ya think I should go? HAHAHAHAHA...etc.
NONE of what I type, should be taken as financial advice.
And when you loose control, you'll reap the harvest that you've sown
And as the fear grows, the bad blood slows and turns to stone
And it's too late to loose the weight you used to need to throw around
So have a good drown, as you go down, alone
Dragged down by the stone.
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