Jump to content


Photo

Just A Mirage


This topic has been archived. This means that you cannot reply to this topic.
40 replies to this topic

#16 Sudaca

Sudaca

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 11,915 posts

Posted 23 July 2009 - 05:36 PM

Looks like 12 in a row was all she wrote for the Naz. At least for now. Question now is how long the dip lasts. Structurally, even with a dip in the next few days, uptrend still looks good. Tricky one for trading here.

Cumulative A/D has broken the long term downtrend and is now at levels where the S&P was at 1300.

Attached Thumbnails

  • NYAD_vs_SPX.JPG

Thanks, David

#17 cwd

cwd

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 13,435 posts

Posted 23 July 2009 - 06:10 PM

Sold PCU @ 25.50

Still long BVN



Well done. :D

#18 cwd

cwd

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 13,435 posts

Posted 23 July 2009 - 06:13 PM

Don't look now, but the market has just retraced 38% of today's rally.



Schwab shows The SPX@ 976 and the SPY@ 96.8. :unsure:

#19 cwd

cwd

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 13,435 posts

Posted 23 July 2009 - 06:16 PM

Is this the top, old Richard Russell has turned bullish. :wacko:

It's clear to me that we are in a rally within a secular bear market (some will call it a cyclical bull market). In other words, it's coming within the confines of a long-term or secular bear market. Old timers saw this same situation during the 1966 to 1974 bear market. At that time we saw a series of cyclical bull markets, all coming within the framework of a long-term or secular bear market.

In the end, that secular bear market ended the way most bear markets end -- amid black pessimism and with blue-chip stocks at great values or "below known values."

What was missing at the March 9 lows? Extreme pessimism was absent as were the great values in blue-chip, dividend-paying stocks sporting yields of 6% to 10%.
RR

#20 Jetlag

Jetlag

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 10,776 posts

Posted 23 July 2009 - 06:23 PM

Schwab shows The SPX@ 976 and the SPY@ 96.8. :unsure:


I think he was referring to the fucture

S&P 500 964.20 -4.70 -0.49

#21 Jetlag

Jetlag

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 10,776 posts

Posted 23 July 2009 - 06:36 PM

"Put option volume swelled to about 1.53 million contracts in the SPDR S&P 500 (SPY.P) on Thursday after an institutional player extended a large bearish position in the exchange-traded fund that tracks the performance of the S&P 500 index."

"Rather than an outright bearish bet, this appears to be a hedge on a long stock position in the Spiders, Schwartz said."

http://www.reuters.c...20090723?rpc=44

Who knows?

This was done before the rally:
"With the fund's shares trading at $95.92, the institutional client reversed those August put positions in favor of the December contract where he bought 120,000 $95 puts and sold twice as many $82 puts, Schwartz said."

#22 phatbubble

phatbubble

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,331 posts

Posted 23 July 2009 - 07:03 PM

Still have a light short position. Not daytrading or scalping options so am just sitting on hands.

Would flip heavy long on a sustained break above and retest of 1K, or some sort of life-altering out-of-body experience, but that's about it.
Quod Severis Metes

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.

#23 Jorma

Jorma

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,363 posts

Posted 23 July 2009 - 07:30 PM

Still have a light short position. Not daytrading or scalping options so am just sitting on hands.

Would flip heavy long on a sustained break above and retest of 1K, or some sort of life-altering out-of-body experience, but that's about it.



I recall back in the spring we all had a good laugh at somebody on Crapvision who said it will be safe for the public to get back into stocks above 1060. Even TJ had a good chuckle about that.

War is the last great hope of the incompetent to order the unwilling to attempt the impossible.
William Eastlake 'The Bamboo Bed'

Change you can suspend your disbelief in.
Fafblog


#24 drwells

drwells

    Stock Proctology Intern

  • Members
  • Pip
  • 184 posts

Posted 23 July 2009 - 08:03 PM

Shorty are you working for ZeroHedge now?

http://www.zerohedge.....0WEB PAGE.jpg

#25 DrStool

DrStool

    Chief of Stock Proctology

  • Admin
  • PipPipPipPipPipPipPipPipPip
  • 83,393 posts

Posted 23 July 2009 - 08:11 PM

That says it all. I'm sure CNBS will take note.

If your portfolio has you feeling irregular, for fast, long lasting relief, take a subscribatory. And support your local Stool!

#26 brianbenson

brianbenson

    Stock Proctology Intern

  • Members
  • Pip
  • 28 posts

Posted 23 July 2009 - 08:31 PM

Harry Dent on CNBC: Dow 3800 by the end of 2010.

$1000 bet with Dennis Kneale.

#27 DrStool

DrStool

    Chief of Stock Proctology

  • Admin
  • PipPipPipPipPipPipPipPipPip
  • 83,393 posts

Posted 23 July 2009 - 08:35 PM

One thing about Hairy. He sticks his neck out.

I heard his rationale on Bloomberg a month or so ago and it made sense to me. It was something I had thought about before. He crystallized it. But what he doesn't account for is the Fed's ability to pump the market up via its primary dealer operations. Most people tend to underestimate this.

If your portfolio has you feeling irregular, for fast, long lasting relief, take a subscribatory. And support your local Stool!

#28 Jetlag

Jetlag

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 10,776 posts

Posted 23 July 2009 - 08:38 PM

Is the 40 year commemoration rally over?

saturnVrally.png Posted Image

It would make one hell of a headfake if they close it under 950 tomorrow.

Then again next week we have the turn of the month positive bias.

#29 Charmin

Charmin

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 34,177 posts

Posted 23 July 2009 - 09:08 PM

If more pension funds are taken over by the government, I get the idea that the government/fed will have a lot more control over the pumping up of stock prices just to maintain them.

"Delphi's hourly pension plan covers 47,000 participants and has about $3.7 billion in assets and more than $8 billion in liabilities, according to agency estimates. The Pension Benefit Guaranty Corp. expects to be responsible for about $4 billion of the plan's shortfall of nearly $4.4 billion."
http://www.mlive.com...ry_as_feds.html

I may just be blowing smoke, but it wasn't long ago that it was a concern for the government to not have a lot of pensions go belly up. Probably a good reason to have a steel I-beam under the market at 880.
Cycles + Wyckoff + NTM = TechnoPile
A true Master averts disaster

#30 Charmin

Charmin

    Dean of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 34,177 posts

Posted 23 July 2009 - 09:18 PM

Today felt like "Panic in the streets" as apposed to "Blood in the streets."
Cycles + Wyckoff + NTM = TechnoPile
A true Master averts disaster





Stock market portfolio giving you the runs? See Dr. Stool.

Take a subscribatory!
Download 
The Anals of Stock Proctology now!



The Daily Stool - Stock Market Message Board
Stool's Gold- Gold and Precious Metals Forum
Look Out Below Message Board

Support your local Stool Board.


The Al E. Greenspeuman designer line at Stoolmart. Get yours today! Click here now!
Get Mugged!


Dr. Stool's
Book Search

Enter title, author, or keyword
Just books
All Products





Old Stool Depository

Live Steaming Pile Chart