394 replies to this topic
Posted 08 August 2003 - 06:45 PM
any thoughts on the last 2 candlesticks - inverted hammer and then regular hammer. have seen these patterns for years and really cant get a read on them. maybe there is a volume component... biggest volume eventually wins?
Iat least we're all safe for now. thank God we're in a bowling alley.
Posted 08 August 2003 - 06:53 PM
Lawsuits Mount Against Freddie Mac
Friday August 8, 5:10 pm ET
By Lynn Adler
NEW YORK (Reuters) - Two states and a labor union pension fund are suing U.S. home finance company Freddie Mac to recover lost funds, accusing the company of misleading investors.
Freddie Mac (NYSE:FRE - News), the second-largest buyer of U.S. home mortgages, in June ousted top management and announced federal probes into accounting problems uncovered during an earnings restatement. The company recently admitted it massaged earnings from 2000 through 2002 to smooth results
Posted 08 August 2003 - 06:57 PM
Not a good sign when this board starts getting excited about new highs in metal. I will be distributing into this rally, I remember too well the two times before when we approached these areas. Strictly trading articles, highly volatile. Breakouts for daytraders only using 5 minute candles. You want to buy and hold miners at these levels? good luck. and incidentally, I do hope I am wrong. This Market feverishly looks for rotation from one worthless sector to another. It is the way of the speculator. Any analysis out past a short time frame is so rife with ifs ands and buts that it begs all logic and demands that the beleiver check his brain at the door. best to all riverboaters, keep your time frame short and never ever put your stops in logical places or at round numbers unless you like dressing up like a Stag and walking around in the woods south of Waco on the first day of hunting season. buddha
Posted 08 August 2003 - 07:09 PM
Bristol-Myers subpoenaed by U.S. Attorney
Friday August 8, 6:17 pm ET
LOS ANGELES, Aug 8 (Reuters) - Bristol-Myers Squibb Co. (NYSE:BMY - News), which last month announced an internal investigation of its marketing practices, said in a regulatory filing on Friday that it received a subpoena from a U.S. Attorney's office related to the in-house review
Posted 08 August 2003 - 07:11 PM
Bristol-Myers Warned Over Pravachol Ads
Friday August 8, 5:58 pm ET
By Lisa Richwine
WASHINGTON (Reuters) - The Food and Drug Administration on Friday accused Bristol-Myers Squibb (NYSE:BMY - News; NYSE:BMY - News) of running misleading advertisements for cholesterol-lowering drug Pravachol and asked the company to quickly run new ads correcting the impression left with patients.
Posted 08 August 2003 - 07:14 PM
I have to agree, until we see gold and silver bullion breaking to new highs we will not have an extended multi-week, super bull move in the PMs. All other moves are just temporary speculative swings, the same as we see in the internuts all the time.
Of course, those that can riverboat these day to day moves like Mark have my admiration. I even riverboated some of these based on jrmfl's general advice a year ago, but only used 5% of my total capital.
Be patient, the FEED is backing off here since June. Looking for the real bull run in PMs to start later in the year.
Posted 08 August 2003 - 07:15 PM
Your advice taken.
I'll take my chances and hold.
SINA was Riverboated from $2 to $30 in less than a year.
QueerLogic stampeded from $18 to $50 in even less time.
Any reason why the same cannot happen in gold and silver?
Key to Riverboating is to identify the next mania.
Next mania may in gold and silver. Maybe some other commodity, like soybeans. Who knows?
Maybe after that the mania will shift to Beanie Babies, Movie Star Bra Collections, quart cans of Crude Oil, or something else.
Eventually, StockCharts will be charting all kinds of hard goods and commodities, as paper crap gets flushed down the toilet.
Best to run whichever way the Wildebeasts are going.
Never underestimate the length and strength of a mania.
It could last far longer than anyone expects.
I told everyone to sell real estate 3 years ago. Now they think I'm a jerk.
I'm just a betting man, no different than those Chinese guys playing Mah Jong or whatever at the Bicycle Club.
Just trying to sniff out the next Ponzi Scheme.
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The Weimar Run: Bullphoria!!!!
Posted 08 August 2003 - 07:20 PM
Thanks, Booty, I owe you a freebie! I got chastized last night for this viewpoint. Today's boner run (I like boners just as much as anyone ) was probably inspired by the takeover talk with GOLD, so everyone jumped into all the jrs thinking they are the next takeover candidate. The ones that made the spectacular runs are those with no earnings. I wonder what the short interest is on these bottlerockets? Another mania?
Don't get me wrong- I like gold as much as any other bleached-blond chick. I just don't think this is sustainable. We'll see. I left some money selling 1/2 yesterday. For the others here- good call. I hope it keeps running.
I also apologized to TE and tried to resolve the problem, which he blew all out of proportion. I have absolutely nothing against him and hope he posts some good lyrics tonight so that me and Johnny can sing along together and jump up and down in front of the puter screen- Kinky huh? Sometimes he's a little too emotional when someone disagrees with him.
PS- to BARE with much love- I really do like you, you PERVERT!
Posted 08 August 2003 - 07:20 PM
I sold most of my miners today, on sort of impulse. Seeing the PM rally I put in some limt sells at what I thought were impossible prices and dang they almost all got hit. I'll gladly reenter at these prices again on the way back up after a pullback but if I have to buy higher, well, so it goes. I've got a soft target of 25% long miners I want to be in for the long haul.
The chances this is THE breakout improved greatly with my sell people. Take note.
No blowups in credit bubble land. Yet. Or none apparant. My hats off the Greenman and the boys.
Even the lies known as economic statistics, parsed for BS and adjusted down accordingly, suggests the economy isn't getting any worse here,lookng at coincident to slightly trailing numbers. Enough so to suggest to me no dive yet. Woe will be the day the numbers turn down again. This is of course when AMAT will rise again. When it is needed. I'd say Mark that since AMAT isn't needed now to keep hope alive, since the 'economy is getting better' meme is acendent again, that this is the perfect time for its pullback.
War is the last great hope of the incompetent to order the unwilling to attempt the impossible.
could burn down
We jammin still
Full Extreme Ultimate Rejects
Posted 08 August 2003 - 07:37 PM
[quote name='buddhadropping' date='Aug 8 2003, 05:57 PM']Not a good sign when this board starts getting excited about new highs in metal. I will be distributing into this rally, I remember too well the two times before when we approached these areas. Strictly trading articles, highly volatile. Breakouts for daytraders only using 5 minute candles. You want to buy and hold miners at these levels? good luck. and incidentally, I do hope I am wrong. This Market feverishly looks for rotation from one worthless sector to another. It is the way of the speculator. Any analysis out past a short time frame is so rife with ifs ands and buts that it begs all logic and demands that the beleiver check his brain at the door. best to all riverboaters, keep your time frame short and never ever put your stops in logical places or at round numbers unless you like dressing up like a Stag and walking around in the woods south of Waco on the first day of hunting season. buddha[/quote]
I thought you sold all your miners last week?
I'm with Mark.
Someone over on Goldenstool, said BGO last hit $1.92 on 5/22/02 on 7 million shares. Today, it hit $2.02 and closed @ $1.98 on 9 million shares.
I will sell when these things start trading 50 million shares a day @ much higher prices - I think.
Posted 08 August 2003 - 07:39 PM
Looks like credit spread for junk bond is slowly widening.
Posted 08 August 2003 - 07:45 PM
Betty say it aint so, the cuffs and collars dont match ?......seller beware:
Go look at the weekly on BGO it doesnt get any better!
" I' ve got a left handed hook and a right handed hook, the pros are gonna love me, I'm amphibious"
NC STATE UNIVERSITY
Posted 08 August 2003 - 07:46 PM
Please doSNOT™ talk in DOUBLE NEGATIVES!!!!!!
UDDER>>>wise the (gentle? lmazzoff) readerz here might miss>>STEAK yew FUR a....................
............................FURa....................................DARE HRFF SAY it???.............
or, WORSE STILL assengaging™ in the ARCANE, OBSCURE LEXICON of Mr. TwoScrewsLoose who is, ass y'all see every day here, practically, wont to talk in STRANGE TONGUES. lolol
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Posted 08 August 2003 - 07:58 PM
Love the new Avitar!
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