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IDS World Markets Tues 22nd January 08


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#31 Jetlag

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Posted 22 January 2008 - 08:08 AM

And now a message from your friends, the pigmen:

http://www.bloomberg...Qqas&refer=home

"Investors should use the recent tumble in global stocks as an opportunity to buy them, according to UBS AG."

"``We understand the macro challenges facing the economy and many uncertainties, but we believe this level of pessimism is unwarranted,'' New York-based strategist David Bianco wrote in a note today. ``The market is panicked over a substantial and secular drop in the S&P 500's earnings power.''

#32 DrStool

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Posted 22 January 2008 - 08:13 AM

Based on the early going in the pre market, the 3 day cycle projections are as follows:

qqqq 42.60
spy 123
dia 113

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#33 DrStool

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Posted 22 January 2008 - 08:15 AM

Needless to say, the intraday oscillators are at levels I haven't seen before. They bounced on the open at 7 AM, but are now rolling over again. Actually the DIA didn't bounce. Just the SPY and qqqq, both of which are now headed for the lows again.

Ugly.

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#34 DrStool

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Posted 22 January 2008 - 08:17 AM

I have no clue where our Wall Street Examiner Professional Edition open ETF chart picks will trade, but I suspect that one of them will hit its target price in the early going, which under our rules would close out the trade. On the other one, I removed the target price because it appeared that the chart had more potential on the downside than was indicated.

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#35 DrStool

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Posted 22 January 2008 - 08:28 AM

the 43 area is an important shport level on the qqqq. Then 42 is absolutely critical. Below that, the next shport is around 35.75.

No kidding.

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#36 Mies van der Rump

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Posted 22 January 2008 - 08:37 AM

BAC and Wach just smelled up the room...both missed by over a dollar:

7:03 [BAC] Bank of America Q4 EPS 5 cents vs $1.16

7:04 [WB] Wachovia Q4 earnings 3 cents per share vs $1.20

#37 Jetlag

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Posted 22 January 2008 - 08:44 AM

BAC and Wach just smelled up the room...both missed by over a dollar:

7:03 [BAC] Bank of America Q4 EPS 5 cents vs $1.16

7:04 [WB] Wachovia Q4 earnings 3 cents per share vs $1.20

View Post


You've got to look on the bright side, at least they still got earnings (or so they say).

"Bank of America Corp., the second- largest U.S. bank, said earnings dropped 95 percent after at least $5.28 billion of mortgage-related writedowns."

http://www.bloomberg...8itA&refer=home

#38 DrStool

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Posted 22 January 2008 - 08:47 AM

dia 3 day cycle projection now looks 113.50, spy 123.50

qqqq 42.50-43, which has essentially been hit.

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#39 DrStool

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Posted 22 January 2008 - 08:49 AM

I was wondering what that smell was.


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#40 Sudaca

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Posted 22 January 2008 - 08:54 AM

Looks like one of those days where we end up down 300 pts in the Dow and bulls take it as a victory. :lol:
Thanks, David

#41 ChicagoBear

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Posted 22 January 2008 - 08:54 AM

Let's Get Ready To Rumble!

Attached Images

  • michael_buffer3.jpg

If we don't change our direction, we're likely to end up where we are headed.
It wasn't raining when Noah built the Ark.
"and the vicious cycle will feed on itself in an orgy of cannibalistic self destruction until even the skeletal remains of the system are ground into powder." - Doc, 3/2/09

#42 Sudaca

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Posted 22 January 2008 - 08:55 AM

The President of Peru is all over the papers talking about the stock market.
Thanks, David

#43 Sudaca

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Posted 22 January 2008 - 08:57 AM

The President of Peru is all over the papers talking about the stock market.

View Post


That's really hilarious as during his previous government he managed to make it all but dissappear for several years. :P
Thanks, David

#44 DrStool

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Posted 22 January 2008 - 08:57 AM

When the brokers tell everybody to not panic and sell, I look at it this way.

Selling isn't panic.

Standing frozen like a deer in the headlights and not selling; that's panic.

When I spoke to my cousin last Monday about the market, it triggered a rational fear response, and he did the prudent thing. He sold. He was in the minority. Everybody else panicked and froze.

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#45 ChicagoBear

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Posted 22 January 2008 - 08:58 AM

David Tice on Gloomberg:

DOW 5000!
If we don't change our direction, we're likely to end up where we are headed.
It wasn't raining when Noah built the Ark.
"and the vicious cycle will feed on itself in an orgy of cannibalistic self destruction until even the skeletal remains of the system are ground into powder." - Doc, 3/2/09





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