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OT Thanks Deva...can't post private...I'm a "free"loader on IHUB
OT Chuck....USOpen...Another Tiger major? I had tickets to go to Beth Page today...but I'll watch on TV...miserable and pouring in NJ.
Sounds like he agrees with my count!
They'll have fun getting out of the rough!
Hi All: Woods, Furyk, Z Johnson, S Stricker, K Perry
Winning Score: 276
I'll be there tomorrow...woohoo!
Financials
http://stockcharts.com/h-sc/ui?s=XLF&p=D&yr=1&mn=6&dy=0&id=p40544356326
Major resistance
Now that's more like it Bliss
I'm with ya for 740 SPX
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37895486
Will be interesting to see all the "levered longs" try to lock in profits at once....could be free-fallin' from here.
Think I'll put on some Tom Petty and watch.
OT: ARM Resets coming...Can the banks withstand this wave?
http://www.321gold.com/editorials/casey/casey052909.html
Mmmmmm!!! Blueberries :)
Yes Chuck.....that would help..:)
Mushrooms in a cowfield...you ARE a well rounded character.
Brings to mind Costa Rica surfing trip...jumping a fence...and partaking in the resident fungus.
Thanks for the responses E-wavers
It seems that's the problem I have with e-wave...how you can have such a disparity in interpretation looking at the same information?...
E-Wavers...
What is your long-term view of the count since October 2007 highs? I don't really use it, except in long-term situations to back-up my overall view.
I know most think that the bottom is in (and it may be), but I think the count is clear.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=2&mn=2&dy=0&id=p92570646930
Wave 1: October 2007-March 2008
Wave 2: March-June 2008
Wave 3: June 2008-March 2009
Wave 4: March 2009-(June-July 2009?)
Wave 5: Projected: (June-July 2009-March 2010?)
Notice all major lows occurred in March. This wave 5 could end up truncating at a double bottom in March.
A March 2010 ultimate bottom would fit better with the pattern of previous bear markets in duration...most of which ultimately bottomed in roughly 2.5 years from the top.
http://www.businessinsider.com/henry-blodget-chart-of-the-day-bear-market-2009-5
Time for a little backing and filling with GS
http://stockcharts.com/h-sc/ui?s=GS&p=D&yr=0&mn=6&dy=0&id=p91685794576
As for the "short tease", as PT puts it, continuing....I believe the "leveraged-long tease" is about to begin in reverse.
http://zerohedge.blogspot.com/2009/06/leveraged-bullishness-highest-since.html
Nice chart...that's what I'm looking at with a low projected to be mid-late July as I posted awhile back.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37895486
Reversal Thursday Bliss???.....hopefully starting now.
Gap at $24 is my target (No position in JPM...just SKF)
http://stockcharts.com/h-sc/ui?s=JPM&p=W&yr=1&mn=6&dy=0&id=p78559401795
The price opens higher than the previous day's high and closes below the previous session's low. It's also called an "outside day". It is a highly reliable trend-change indicator.
KEY REVERSALS...SPY, DIA if we close at these prices
JPM breaking down right now....toast!
SKF close over $42 for a key reversal?
Looking good
Notice the dollar topped on March 9...as stocks bottomed...almost perfect inverse correlation.
Thanks...remains to be seen if the bottom is in.
Another argument for oil topping...dollar will get nice bounce here
Gold double top.
I think commodities and stocks were rallying in response to the weaker dollar.
All should reverse here.
http://stockcharts.com/h-sc/ui?s=$USD&p=D&b=5&g=0&id=p59822337881
This is typically how I play turns in markets...establish hedges where I think the bottom/top will be and then take off 1/3 on strong moves...gives me more wiggle room in case of extended moves past my target zones.
Could be....but I had $70 as a target in Jan. and I had this week as my target timeframe. Oil typically peaks around 1st week of June.
Also looks like a corrective ABC is complete off the bottom (don't really use e-wave, but just another piece of info).
AND I have HUGE gains...:)
I expect the SKF chart will be identical to the oil chart and that we will see a similar move in SKF over the next 6 months that we saw in oil from Jan-June.
Oil $70...I expect that to be the top for the year.
Will be selling remaining NOG today and holding SKF...leaving me now net short.
That looks like the rail charts
http://railfax.transmatch.com/
False dawn for the "green-shooters"?
Scroll down to bottom of page...to weekly loaded units
And semi-conductor industry said they expect a drop of 21% in 2009 and no recovery until 2010.
Looks like inventory replenishment in Q1....then trailing off in Q2...interesting.
OT...I was in the camp that the bottom was definitely in as of March 9...
starting to find some things that have me wondering...check this out.
Hard to massage these numbers
http://railfax.transmatch.com/
RE: JPM
Take a look at this portfolio
http://206.71.60.110/bkHm.asp?inst=HC1039502#
As for the weekly chart...Recession, what recession? Trading near September levels...pre-financial collapse levels.
TOPPED
http://stockcharts.com/h-sc/ui?s=JPM&p=W&yr=1&mn=6&dy=0&id=p78559401795
There is zero chance the 200 could turn up as you draw it...impossible to have a delta that severe.
JPM on the verge of a breakdown
3 month SKF chart is a thing of beauty. As good as Nog at $3
I don't see a continuation...Friday was the bear trap into this morning with a ridiculous 300 point Dow move from 3 pm Friday till the open today....Nervous shorts forced out. The break of the 200 day MA was the bull-trap IMO...and with every measure overbought...and the extent of this financial catastrophe...there is NO V-SHAPED recovery coming this time.
I just have to look at the SKF chart to see that a base has formed and they could not get it to go lower today.
I'm holding SKF and may sell the rest of my NOG tomorrow.
And you think that is a supportive argument for the bulls?
My SKF position was a hedge against my very long position in NOG (cost basis low $3's). Sold half of NOG today and held SKF as financials couldn't rally in the face of a 250 point gain and close over 200 day MA. Think this will prove to be the final headfake.
I'd sell commodities and financials here.
Seems it was a forced short cover...curious that there seemed to be enormous front running before the liquidation...I guess lots of traders were tipped off that this was going to happen aqt the close and they started buying at 3:30 or so
http://market-ticker.denninger.net/archives/1072-What-Was-THAT-Friday-Market-Close.html