This level of momentum could carry on for weeks or even months.
huh? based on one (light) day's action?
It's the first trading day of the year, and as 27 understands it, money comes into the market around the first of the year that MUST go long (especially since the market "just can't go down 4 years in a row!"). Also note today's rather meager volume. These factors likely explain the "best technicals in months".
i27ho, the better play is to be bearish the next few months
Machinehead has the most unpleasant ability to make Fokker's bowels turn to ice with the simple expression of an idea. I agree, MJ, but damn if he didn't do it to me again
...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech
Naturally we believe the govt numbers... and Boobus Americanus sleepwalks off the edge of the energy-crisis cliff clutching his shares of "Crisco", Yoohoo and GooGah munching on his Yum Yums and Ho Hos. Future historians will have a hell of a time figuring out what the hell Americanus neanderthalus was thinking and exactly what brought on his sudden demise... - Henny Penny
Well, good night everyone. I gotta go lube up for tomorrow's regular end-of-week Gold Slapdown and Stock Index Bear Punishment Rally Weekend Greenprint. ...Probably another Shock-and-Awe Gap-Up-Open and Wire-to-Wire Meltup Runaway Bull Charge Mo-Mo Spike to Fresh New All-Time Lifetime Highs, culminating in a 4:15 yelping scalded dog runoff with panic short-covering and legal not-held bad double fills due to fast market conditions, plus quote system freeze-ups and trading platform lock-outs along the way. *yawn* typical gov't Friday. - Shorty
The market revved up here yesterday arvo and looked quite bullish. Got the pop on open today but drifting down again now. Could have another go later I guess but I have to say not particularly bullish at this stage. Most the stocks that popped on open are now well off their highs. Golds are doing a small pullback but good support on the buying side of things. Can't see them falling too far. I'm sceptical that this upside will continue next week...
I'm not legging into it yet as I noticed enough skepticism on this rally while watching the intraday p/c ratios. We're getting close but wait as you will get better entry prices with much less risk later (next week?).
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.
I curious about your translation of the news/comments on JPM today. Did you hear the JPM guy he sounded like Bill talking about Monica? Perhaps JPM was “Ministering”
The issues get to the heart of your thesis on derivatives speculation. Here’s JPM hedging its speculative lending to Enron with Enron puts held by a quasi legal paper companies designed to engage in the very same quasi legal speculation. Yet very uncharacteristically even with ‘the smoking gun emails in hand’ the insurers buy out for 50% on the dollar. Go figure why in hell didn’t the insurers go to the mat, there’s no question they had the wind at their back on JPM and they make their living on keeping very mean lawyers busy.
It would seem the whole thing was going to get too muddy for everyone too quickly for the parties to squabble over $500 million! I find that to be astonishing.
This to my mind was the story of the day. We all pick our stories of course. Back scratching deals in credit bubble land, like the HI deal, are the mothers milk of this sick baby.
ABK was in on the JPM suit. That wasn't nice. It isn't nice to bite the hand that feeds you. Directly by sending you bussiness, and indirectly by the street holding up your stock.
The second I heard "settlement" it all seemed so obvious. One can only imagine the pressure brought to bear on both sides. Split the difference boys and you'll both come out smelling good. Sure enough, all the stocks were very green today.
This is the sort of thing that gets settled with quiet weekend phonecalls between seriously rich and connected people in Arlington ,The Hamptons, London and Zurich. You've got to hand it to them. Trillions down the drain and they are still quitely confident.
War is the last great hope of the incompetent to order the unwilling to attempt the impossible.
William Eastlake 'The Bamboo Bed'