My, Aren't We Full of Surprises
284 replies to this topic
Posted 08 August 2008 - 04:02 PM
One of the things I noted today (on my day off ) was that the Fed drained reserves again today, dropping Fed credit back to within a hair of 3 year lows and opening up another yawning gap on the chart of Fed credit and stock prices in the Wall Street Examiner Professional Editions. It may take some time, but when rallies like this run counter to the Fed's actions they are always reversed, and then some. Unless the Fed reverses course immediately, the rally's days are numbered, and it's a setup for another major downleg. The issue of where and when is a subject for an analysis of cycles, support and resistance and I hope to be able to reach some conclusions on that in this weekend's market update to be posted in the Professional Edition tomorrow or Sunday. Hope to see you there. In the meantime, have a great weekend and enjoy your families!
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Posted 08 August 2008 - 04:21 PM
All I can say is...WOW
Everything going in the wrong direction,Stocks,bonds,The dollar.......
Every hedge fund gonna fold before the year is out.Whipsawed constantly.It's totally nuts.
I still think a huge collapse is coming that will put us around SPX 1100 this year.We will start heading down a day or 2 before options expiration I think.(weds afternoon for a guess)
Posted 08 August 2008 - 04:28 PM
RUT 5 weeks in a row up...closed back above a lot of important weekly stuff...
Both MACDS crossed back up.....
Combined with Trannies action, it is not a given in my book that we still in a bear phase, and in fact may have begun the next bull leg.....
Should I even bother to mention the canary Biotech again?
Posted 08 August 2008 - 04:33 PM
The picture could change rapidly, if da bears pull off a big decline next week...but as they say in my Dad's home state....Show Me....
Posted 08 August 2008 - 04:34 PM
Yep -- traders are getting vaporized other than daytraders hitting 15 minute winner, winner, chicken dinner trades.
This action is like getting caught in a good 'ol Jersey shore rip tide -- NO FUN!
Posted 08 August 2008 - 04:38 PM
Let's crank up an oldie but goodie, a game of hangman....
Looking at the picture below.....
Posted 08 August 2008 - 04:39 PM
Yeah I've had to change directions a lot this week alone!
But my take from here is that unless da bears reverse today's action in it's entirety quickly next week, we goin' up, and possibly for some time to come.
If they do reverse it, then the abyss waits below.
I think this AM's pivot was that important......................
Posted 08 August 2008 - 04:44 PM
Well you certainly post some good stuff! Being that I spend most of my time wagering at high yield bond table the shlock market doesn't bother me too much whether up or down, but I do like to dip a toe in when I see something at one extreme or another.
What is the definition of spaghetti chart?
A two-dimensional drawing, based on a floor plan, that includes lines that track the movement of an employee throughout the work area. Before and after spaghetti charts are often used to track 5S improvements.
Posted 08 August 2008 - 04:59 PM
Does everyone remember CNNFN.com's "Millionaires in the Making" series where everyone was going to retire a multi millionaire and real estate would never stop going up?
Well, now we have this.
5 steps to building an emergency fund
The Heinekes may be good savers, but like most Americans, they need to put more cash into a rainy-day fund.
The Heinekes - who only have $2,500 in cash - aren't alone in being under prepared: A third of Americans have no emergency savings,
Surprisingly, Lindsay and Patrick have made a conscious decision not to have rainy-day savings. "We just feel confident that we won't need it," Patrick said when the couple first spoke to Money. They felt that their $116,000 income - from his job in custom manufacturing and hers in event marketing - was secure. And if they ever did face a disaster, they figured, they had $19,000 available on a home-equity line of credit (HELOC) to carry them over.
cnnfn.com full text here <-----
Posted 08 August 2008 - 05:00 PM
A friend of mine visited the Show Me state once ...
The deeper you dig into a pile of dung, the worse it smells ...
Posted 08 August 2008 - 05:05 PM
For the past week or two Jeff Macke has been making almost perfect sense on Fast Monkey, must be looking to get fired so he's not the one breaking the contract.
Probably also tired of the ridicule from his buddies seeing as all of these dolts are wrong roughly 95% of the time.
Posted 08 August 2008 - 05:09 PM
NY Comp looks similar to the NAZ comp last week
Sitting right on 200 week support trying to put in a type of triple bottom. If it pops a boner next week then we may have a staggered start thing going on with some sectors jumping out front first.
If it fails to hold here...again the abyss waits.....
Posted 08 August 2008 - 05:12 PM
Did I get it?
Posted 08 August 2008 - 05:14 PM
Just noticed her hair coloring in that photo. Let's see, what kind of animals have striped fur?
Maybe I had the wrong vowel in my suggestion that she was a "skank."
Of course I'm caustic!
Posted 08 August 2008 - 05:22 PM
While the stock markets surges discounting the eventual recovery things are getting worst in the real economy :
"Yields on commercial real estate securities relative to benchmark rates rose to the highest since March on concern that retailers won't be able to repay debt as consumers cut spending."
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