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IDS World Markets Tues 24th July 07


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#31 cwd

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Posted 24 July 2007 - 10:03 AM

Cutting capacity and people in a homebuilding material company, and problems in the mortgage arena are escalating.  Notice the continual estimate reductions at CFC.  What are the chances they are still overestimating?  No sign of a bottom from any of this.
Excerpts:

USG Corporation Reports Second Quarter 2007
Last update: 7/24/2007 8:31:00 AM
CHICAGO, July 24, 2007 /PRNewswire-FirstCall via COMTEX/ -- USG Corporation (USG), a leading building products company, today reported second quarter 2007 net sales of $1.4 billion and net earnings of $56 million. Diluted earnings per share for the second quarter of 2007 were $0.56 based on 99.3 million average diluted shares outstanding. For the same period a year ago, the corporation recorded net sales of $1.6 billion and net earnings of $176 million, or $3.03 per diluted share based on 58.0 million average diluted shares outstanding.
"The housing recession is entering the second year of what is likely to be a multiyear downturn," continued Foote. "We took further action during the quarter to adapt our operations to market conditions by eliminating approximately 500 salaried positions. Combined with reductions in hourly jobs, we have eliminated more than 1,100 positions in the last 12 months. The corporation has removed about 2.5 billion square feet of wallboard capacity from operation in the last year and will shut down an additional 350 million square feet of wallboard capacity at Detroit, Michigan, late in the third quarter.

Countrywide 2Q Net Down 33%; Cuts '07 Outlook Again
Last update: 7/24/2007 9:23:04 AM
NEW YORK (Dow Jones)--In another sign of spreading credit problems, Countrywide Financial Corp. (CFC) said Tuesday losses on certain loans to more creditworthy borrowers contributed to a 33% drop in second-quarter net income. The largest U.S. home lender again slashed its 2007 earnings outlook on expectations of "increasingly challenging" housing and mortgage markets.
The Calabasas, Calif., lender earned $485.1 million, or 81 cents a share, in the quarter, down from $722.2 million, or $1.15 a share, a year earlier. Revenue fell to $2.55 billion from $3 billion a year earlier. On average, anal cysts polled by Thomson Financial expected earnings of 95 cents a share on revenue of $2.86 billion.
"During the quarter, softening home prices continued to affect many areas of the country and delinquencies and defaults continued to rise across all mortgage product categories as a result," said Chairman and Chief Executive Angelo Mozilo. Countrywide set aside $293 million for loan losses in the quarter, more than triple the level a year earlier, primarily blaming a loan-loss provision of $181 million on prime home-equity loans.
It cut its 2007 earnings forecast to a range of $2.70 to $3.30 a share, compared with the $3.50 to $4.30 range it projected in April. Earlier this year, Countrywide estimated it would earn $3.80 to $4.80 a share in 2007.

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It sure was fortunate for the Tan Man, that he has been diversifing his holdings. :lol:
[img]http://tbn0.google.com/images?q=tbn:Oqf7R4085kKpnM:http://www.businessweek.com/the_thread/hotproperty/archives/angelo.gif[/img]

INSIDER & RULE 144 TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Transaction Value*
23-Jul-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
23-Jul-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $34.22 per share. $2,395,400
20-Jul-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
20-Jul-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $34.12 per share. $2,388,400
19-Jul-07 SAMBOL DAVID
Officer 4,250 Option Exercise at $13.24 per share. $56,270
19-Jul-07 SAMBOL DAVID
Officer 4,250 Automatic Sale at $35.26 per share. $149,855
18-Jul-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
18-Jul-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $34.32 per share. $1,578,720
16-Jul-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
16-Jul-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $35.83 per share. $2,508,100
13-Jul-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
13-Jul-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $36.64 per share. $2,564,800
13-Jul-07 SAMBOL DAVID
Officer 4,250 Option Exercise at $13.24 per share. $56,270
13-Jul-07 SAMBOL DAVID
Officer 4,250 Automatic Sale at $36.50 per share. $155,125
12-Jul-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
12-Jul-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $36.45 per share. $1,676,700
11-Jul-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
11-Jul-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $35.68 per share. $2,497,600
3-Jul-07 SAMBOL DAVID
Officer 4,250 Option Exercise at $13.24 per share. $56,270
3-Jul-07 SAMBOL DAVID
Officer 4,250 Automatic Sale at $37.02 per share. $157,335
27-Jun-07 SAMBOL DAVID
Officer 4,250 Option Exercise at $13.24 per share. $56,270
27-Jun-07 SAMBOL DAVID
Officer 4,250 Automatic Sale at $35.96 per share. $152,830
21-Jun-07 GARCIA CARLOS MANUEL
Officer 2,500 Automatic Sale at $37.50 per share. $93,750
19-Jun-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
19-Jun-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $38.90 per share. $1,789,400
19-Jun-07 SAMBOL DAVID
Officer 6,375 Option Exercise at $13.24 per share. $84,405
19-Jun-07 SAMBOL DAVID
Officer 6,375 Automatic Sale at $38.45 per share. $245,118
18-Jun-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
18-Jun-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $38.48 per share. $1,770,079
15-Jun-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
15-Jun-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $37.99 per share. $1,747,540
15-Jun-07 DOUGHERTY MICHAEL E
Director 11,395 Option Exercise at $12.15 - $13.29 per share. $145,0002
15-Jun-07 DOUGHERTY MICHAEL E
Director 11,395 Automatic Sale at $38.15 per share. $434,719
14-Jun-07 SAMBOL DAVID
Officer 6,375 Option Exercise at $13.24 per share. $84,405
14-Jun-07 SAMBOL DAVID
Officer 6,375 Automatic Sale at $37.79 per share. $240,911
14-Jun-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
14-Jun-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $37.83 per share. $1,740,180
13-Jun-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
13-Jun-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $37.81 per share. $2,646,700
12-Jun-07 GARCIA CARLOS MANUEL
Officer 2,500 Automatic Sale at $37.71 per share. $94,275
11-Jun-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
11-Jun-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $37.67 per share. $2,636,900
8-Jun-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.94 per share. $695,800
8-Jun-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $37.95 per share. $2,656,500
7-Jun-07 GARCIA CARLOS MANUEL
Officer 2,500 Automatic Sale at $38.25 per share. $95,625
6-Jun-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
6-Jun-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $39.06 per share. $1,796,760
6-Jun-07 SAMBOL DAVID
Officer 6,375 Option Exercise at $13.24 per share. $84,405
6-Jun-07 SAMBOL DAVID
Officer 6,375 Automatic Sale at $38.99 per share. $248,561
4-Jun-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 - $9.94 per share. $684,0002
4-Jun-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $39.15 per share. $2,740,500
1-Jun-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
1-Jun-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $39.01 per share. $2,730,700
31-May-07 SIERACKI ERIC P
Officer 16,708 Option Exercise at $6.77 per share. $113,113
31-May-07 SIERACKI ERIC P
Officer 2,902 Disposition (Non Open Market) at $38.94 per share. $113,003
31-May-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
31-May-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $39.80 per share. $1,830,799
30-May-07 CISNEROS HENRY G
Director 5,075 Sale at $39.50 per share. $200,462
29-May-07 GARCIA CARLOS MANUEL
Officer 2,500 Automatic Sale at $39.44 per share. $98,600
24-May-07 GARCIA CARLOS MANUEL
Officer 12,500 Automatic Sale at $40.35 per share. $504,375
21-May-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
21-May-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $40.64 per share. $1,869,440
18-May-07 GARCIA CARLOS MANUEL
Officer 12,500 Automatic Sale at $41.18 per share. $514,750
18-May-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
18-May-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $41.14 per share. $2,879,800
16-May-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
16-May-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $40.25 per share. $1,851,500
15-May-07 DOUGHERTY MICHAEL E
Director 22,790 Option Exercise at $12.15 per share. $276,898
15-May-07 DOUGHERTY MICHAEL E
Director 22,790 Automatic Sale at $39.87 per share. $908,637
14-May-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
14-May-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $40.26 per share. $2,818,200
10-May-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
10-May-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $40.68 per share. $2,847,600
8-May-07 KRIPALANI RANJIT M
Officer 14,002 Option Exercise at $14.69 per share. $205,689
8-May-07 KRIPALANI RANJIT M
Officer 14,002 Sale at $40.75 - $40.8 per share. $571,0002
8-May-07 DOUGHERTY MICHAEL E
Director 11,396 Option Exercise at $12.15 per share. $138,461
8-May-07 DOUGHERTY MICHAEL E
Director 11,396 Automatic Sale at $42 per share. $478,632
8-May-07 GISSINGER ANDREW III
Officer 4,042 Sale at $40.74 - $41.71 per share. $167,0002
8-May-07 GARCIA CARLOS MANUEL
Officer 12,500 Automatic Sale at $40.06 per share. $500,750
8-May-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
8-May-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $38.78 per share. $2,714,600
8-May-07 SAMUELS SANDOR E
Officer 24,936 Option Exercise at $11.68 per share. $291,252
8-May-07 SAMUELS SANDOR E
Officer 24,936 Automatic Sale at $40 per share. $997,440
7-May-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
7-May-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $38.48 per share. $1,770,079
4-May-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
4-May-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $38.03 per share. $1,749,380
3-May-07 GARCIA CARLOS MANUEL
Officer 2,500 Automatic Sale at $37.85 per share. $94,625
2-May-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
2-May-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $37.54 per share. $2,627,800
2-May-07 GATES MARSHALL M
Officer 6,805 Option Exercise at $14.69 per share. $99,965
30-Apr-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
30-Apr-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $38.45 per share. $1,768,700
27-Apr-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
27-Apr-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $38.35 per share. $2,684,500
26-Apr-07 DOUGHERTY MICHAEL E
Director 22,790 Option Exercise at $12.15 per share. $276,898
26-Apr-07 DOUGHERTY MICHAEL E
Director 22,790 Automatic Sale at $39 per share. $888,810
26-Apr-07 GARCIA CARLOS MANUEL
Officer 2,500 Automatic Sale at $37.50 per share. $93,750
23-Apr-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
23-Apr-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $37.33 per share. $2,613,100
20-Apr-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
20-Apr-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $37.84 per share. $1,740,640
18-Apr-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
18-Apr-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $37.25 per share. $2,607,500
17-Apr-07 DOUGHERTY MICHAEL E
Director 11,395 Option Exercise at $10.25 - $12.15 per share. $128,0002
17-Apr-07 DOUGHERTY MICHAEL E
Director 11,395 Automatic Sale at $36.50 per share. $415,917
16-Apr-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $10.89 per share. $500,940
16-Apr-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $34.93 per share. $1,606,780
13-Apr-07 MOZILO ANGELO R
Officer 46,000 Option Exercise at $9.60 - $10.89 per share. $471,0002
13-Apr-07 MOZILO ANGELO R
Officer 46,000 Automatic Sale at $33.60 per share. $1,545,600
11-Apr-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
11-Apr-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $33.46 per share. $2,342,200
4-Apr-07 MOZILO ANGELO R
Officer 70,000 Option Exercise at $9.60 per share. $672,000
4-Apr-07 MOZILO ANGELO R
Officer 70,000 Automatic Sale at $33.33 per share. $2,333,100

#32 dogsie

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Posted 24 July 2007 - 10:04 AM

If the Trin  go to the moon then Bottom fishing might be a good idea

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So far a very modest .95
Insanity: doing the same thing over and over again and expecting different results. Albert Einstein
You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time. Abraham Lincoln
Those who cannot remember the past are condemned to repeat it George Santayana

#33 I_Am_Madness

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Posted 24 July 2007 - 10:07 AM

GS broke and closed below the 200 dma for the first time in 2 years.
Stop the Madness

#34 cwd

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Posted 24 July 2007 - 10:07 AM

I'm watching the dollar closely:
http://quotes.ino.co...?s=NYBOT_DX&v=s

This is looking bad...

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Latest quote. :huh: big move :o

TX U07 80030 80090 79870 79920 -300

#35 FeedFool

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Posted 24 July 2007 - 10:10 AM

If the Trin  go to the moon then Bottom fishing might be a good idea

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So far a very modest .95

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Chart is based on moving average so it may take time to go to the moon

#36 Jetlag

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Posted 24 July 2007 - 10:17 AM

I'm watching the dollar closely:
http://quotes.ino.co...?s=NYBOT_DX&v=s

This is looking bad...

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Latest quote. :huh: big move :o

TX U07 80030 80090 79870 79920 -300

View Post


The FRN farce is still holding on versus gold

Posted Image

#37 LeeWhee

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Posted 24 July 2007 - 10:20 AM

Say goodbye to our old friend SPX 1532, shanker-style.

If/when the more important Nard 2632ish gives way, time for bully to close up shop for a while. Crooks still have downside 30+ pts to play with on the Saq.
"I'm not a real estate bum. I wear diamonds and Rolexes. I'm a classy Realtor™."--- Liz "Flaming Orange" Seither, Clearwater, FL, who owes lenders millions of dollars in debts.

"Men do not desire to be rich, but to be richer than other men."---John Stuart Mill (1806-1873)

"When the music stops, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing..."---Citigroup CEO Chucky "Master of Timing" Prince, 7/9/07

"Wall Street is a graveyard of geniuses."---Chriss Street, Treasurer, Orange County, CA, 7/27/07

"It was never my thinking that made big money for me. It was my sitting. Men who can be both right and sit tight are uncommon. I found it one of the hardest things to learn."---Jesse Livermore

"You can kill a sheep just once, but you can fleece him 100 times."---Jeff Macke

"Stocks are no longer the weather glass of fortune, but a part of the mask employed to disguise the nation's own face to itself." ---Horace Walpole, 1782

#38 Bungster

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Posted 24 July 2007 - 10:23 AM

This look like a short term? correction commencing....... :unsure:

ndx_30min.png
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#39 Ageka

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Posted 24 July 2007 - 10:26 AM

While you guys are remembering 1997, I'm remembering 1967 and 77.  :lol:

I was really surprised that no one recognized those Dow charts of 1972-74 over the weekend. Those patterns are indelibly etched in my brain for all time.

Funny thing is that during my first 15 years of involvement with the market it swung both up and down, and the majority of stocks either did poorly, or went nowhere. It's probably why it's so difficult for me to get unqualifiedly and enthusiastically bullish.  My upbringing says that it can't last. :lol:

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In those days the only charts over here were Hoppenstedt charts by country or general at about 35$ for one booklet per month :angry:
And I had a tape recorder I put a clock on so that at midnight I could get the closing of the US market from the American Forces broadcast out of Germany :rolleyes:

Then by hand I would continue the charts for about three months and buy a new set :)
Gavroche. approached Javert and said to him :
"The mouse has caught the cat." Victor Hugo; Les Misérables

#40 Bungster

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Posted 24 July 2007 - 10:27 AM

This also is saying correction.... :unsure:

nylow_nyhgh.png
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#41 Benny Hoo Hoo

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Posted 24 July 2007 - 10:37 AM

Deflation and major correction around the corner?

Pump and Dump

It all seems too obvious.

#42 LeeWhee

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Posted 24 July 2007 - 10:44 AM

Stick-save in progress at BKX 109, the March07 low.

Will it hold? Probably not.

But potential scwang-support not much lower at 106 (Jul06 gap), 104 (Jun06 low) and 100-101ish (2006 low).

Attached Images

  • Picture_11.png

"I'm not a real estate bum. I wear diamonds and Rolexes. I'm a classy Realtor™."--- Liz "Flaming Orange" Seither, Clearwater, FL, who owes lenders millions of dollars in debts.

"Men do not desire to be rich, but to be richer than other men."---John Stuart Mill (1806-1873)

"When the music stops, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing..."---Citigroup CEO Chucky "Master of Timing" Prince, 7/9/07

"Wall Street is a graveyard of geniuses."---Chriss Street, Treasurer, Orange County, CA, 7/27/07

"It was never my thinking that made big money for me. It was my sitting. Men who can be both right and sit tight are uncommon. I found it one of the hardest things to learn."---Jesse Livermore

"You can kill a sheep just once, but you can fleece him 100 times."---Jeff Macke

"Stocks are no longer the weather glass of fortune, but a part of the mask employed to disguise the nation's own face to itself." ---Horace Walpole, 1782

#43 Jimi

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Posted 24 July 2007 - 10:47 AM

While you guys are remembering 1997, I'm remembering 1967 and 77.  :lol:

I was really surprised that no one recognized those Dow charts of 1972-74 over the weekend. Those patterns are indelibly etched in my brain for all time.

Funny thing is that during my first 15 years of involvement with the market it swung both up and down, and the majority of stocks either did poorly, or went nowhere. It's probably why it's so difficult for me to get unqualifiedly and enthusiastically bullish.  My upbringing says that it can't last. :lol:

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Those were the days when Inflation meant something

Posted Image

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Umm... where as, it's different this time....
Sure glad all my albums went GOLD.
"Ferdy-bee-bee-dee-ferbs."
Subscribe & Earn Karma Miles with Every Visit!
Rule #5 Professional Exemption.
Blind Follower, Just Think Positive Hyperinflation, I Get Paid 500 Quadrillion Dollars/Hour at 1000% Interest/Hour Compounding Forever Each Mouse Click Religion.
"I too observe 'flation.'"
I love you, TASR!
YOU MAKE KITTY SCARED
Tops Take Time
Postulate A Free Lunch Economy
Anyone, now, who is not genuinely afraid is a moran.
[T]housands of empty stucco crapboxes vacated after being circle-jerk sham-traded among corrupt borkers, uppraisers and loan officers from 100K up to 800K, then "nopay-walkaway" (with dirty loan cash in pockets)
Guess again, girlfriend.
Or, $2.7 million every effing day since the effing pinball machine.
Permabear Hysterian

#44 Speakeasy

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Posted 24 July 2007 - 11:01 AM

I'm watching the dollar closely:
http://quotes.ino.co...?s=NYBOT_DX&v=s

This is looking bad...

View Post


Latest quote. :huh: big move :o

TX U07 80030 80090 79870 79920 -300

View Post


The FRN farce is still holding on versus gold

Posted Image

View Post

Granny.jpg

YeahBut, bucky is wearing 80, which was yesterday's seat cushion, as a hat.

Posted Image

Posted Image
Behind every great fortune there is a crime. ~ Honore de Balzac
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#45 DrStool

DrStool

    Chief of Stock Proctology

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Posted 24 July 2007 - 11:04 AM

While you guys are remembering 1997, I'm remembering 1967 and 77.  :lol:

I was really surprised that no one recognized those Dow charts of 1972-74 over the weekend. Those patterns are indelibly etched in my brain for all time.

Funny thing is that during my first 15 years of involvement with the market it swung both up and down, and the majority of stocks either did poorly, or went nowhere. It's probably why it's so difficult for me to get unqualifiedly and enthusiastically bullish.  My upbringing says that it can't last. :lol:

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In those days the only charts over here were Hoppenstedt charts by country or general at about 35$ for one booklet per month :angry:
And I had a tape recorder I put a clock on so that at midnight I could get the closing of the US market from the American Forces broadcast out of Germany :rolleyes:

Then by hand I would continue the charts for about three months and buy a new set :)

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How well I remember. Here, we had Trendline, Mansfield, and Chartcraft (point and figure.) I kept my own charts on paper as well.

In 1982, started charting with Metastock on an Apple IIe. Also that year I had a programmer at the brokerage firm I was with write a MACD charting program on the office mainframe that we could use on our terminals. We were state of the art at that time. We were preaching all about positive and negative divergences to a handful of institutional clients.

Those were the days. :lol: :lol: :lol:

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