Fully invested in secondary oils (100% long)
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put/call ratio extremely bullish all day!
'looks like "quiet accumulation"
RALLY TIME!!!
Chuck - ascending triangle on QQQQ 1-min.
xe2dy - If it improves earnings, it's bullish!
(think about that)
lovedastock - IMHO economy is in early-recovery stage...
as you can see...
http://money.cnn.com/markets/morning_call/
http://www.briefing.com/harrisdirect/stocks/ecdata/leader.htm
Stage: Early Recovery
Consumer Expectations: Rising
Industrial Production: Rising
Interest Rates: Bottoming Out
Yield Curve: Normal (steep)
In a worst-case scenario, we are somewhere in between "early recovery" and "fully recovered" (the economy is still growing at a 4% rate) which means there is still plenty of time for the stock market to make new highs!
RALLY TIME!!!
OT: - a different perspective on oil prices...
Modest Trader
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Group: Traders-Talk User
Posts: 3087
Barron's had a very good article this week on what to pay attention to when the weekly energy inventory data come out each Wednesday, which may help explain why the oil market rallies when crude and gas inventories rise many times (although not this week).
As a supplement to the excellent energy brief earlier this week from Cirrus, this article suggest that the absolute inventory levels reported each week are virtually meaningless in the rising demand environment that we are currently in. In past years where we had mostly stable or declining energy demand, rising inventories would correctly cause a decline in crude market prices, but with demand expected to keep rising at about a 2% clip for the foreseeable future, barring a recession, the days-to-cover-future-demand ratio is a more reliable indicator of how much slack we have in energy inventories.
While it is true we are at 5-year highs for both crude oil and gas distilates absolute inventories, the Barron's article points out that we are actually running slightly below the normal days-to-cover-future-demand ratio for crude oil and just at the normal ratio for gasoline.
So those still trying to call an imporant top in crude oil prices better have very tight stops on those oil shorts, unless, of course, we slip into recession, in which case the stock market will have even bigger things to worry about than oil prices.
mrnatural - if it doesn't, XOM will fly!
"TO DA MOON"!!!
4god - yes, interesting perspective!
More new highs than new lows today!
RALLY TIME!!!
mrnatural - if sixty holds, chart looks bullish! (to be confirmed by a break of the upper down-trend-line)
this bull market - based on expanding economies, which is the same thing that higher oil price is based on!
http://stockcharts.com/charts/performance/SPSectors.html
denmo - bomb on airliner reported in Europe!
the plane was forced to land at a US military base, and it turned out to be a false alarm
(any news of terrorism hurts the US dollar)
cash - Possible ending diagonal XOM 10-min.
mrnatural - IMHO XOM has bottomed and SPX/NAZ is bottoming now!
XOM just completed 5 waves down from yesterday's HOD at open...
RALLY TIME!!!
arjunah - no problem, amigo! I sold the car just before I left, but it sure was fun while it lasted (a black IS-300 that "cornered like a cat")
I agree that this is a great board!
arjunah - if you think I'm excited now, you should see me in a bear market! Did you know that I won a brand new Lexus in an ETrade contest in June of 2002? I ran a hundred grand up to 2.2 million in 30 days flat! I traded nothing but puts on the QQQ, INTC, IBM, and MSFT. I was in competition with 120,000 traders (many of whom were professional money managers) all across the nation! I have been trading since 1958, so I have been through the '62 crash (was in cash), the '66 decline (broke even), the '87 crash (made money with OEX puts), and of course the big bear market of the new millenium (won a new Lexus). If anyone deserves the name "Crashpro" it would be me (although I think it's way too egocentric for anyone).
Here is a post I made earlier today, calling for a "CRASH"!!!
http://www.investorshub.com/boards/read_msg.asp?message_id=5977915
Boa noite!
cash - "A Strategy of Daily Stock Market Timing for Maximum Profit" by Joseph P. Granville sates that an advance on low volume is just as bullish as an advance on high volume. He invented the "OBV" (On Balance Volume Indicator)
cash - Oil stocks were almost unchanged today (XOM down 5 cents). Imagine what they will do when the oil price stops falling (or resumes it's advance)!
QQQQ volume increasing 2 days running!
cash - you saw what happened last oex... Xom closed 2 1/2 points higher... so I guess it no longer closes at a strike price as it has done for so many years... (apparently the current advance is so strong that it easily exceeds the expected targets) In any case, the general market has obviously turned higher at a major support level and is just beginning to gain some momentum! I can just feel a "buying panic" brewing now! (just my 2 cents)
Closing at day's high! RALLY TIME!!!
cash - Is that a worst-case scenario? (it certainly cannot be the best case)
Here's my call - Steady as she goes, with the current uptrend continuing until the next major Bradley turn date on July 13th (with a retest of the highs on August 30th) followed by another "October Crash"!!!
RALLY TIME!!!
frank - possible connection to earthquakes...
And I behold when he had opened the sixth seal, and lo, there was a great earthquake; and the Sun became black as sackcloth of hair, and the Moon became as blood. -- Revelation 6:12
This compelling passage is only one of a number of literary and historical connections between eclipses and earthquakes. The Greek historian Thucydides, in writing about the Peloponnesian War, remarked about "earthquakes and eclipses of the Sun which came to pass more frequently than had been remembered in former times." On another occasion he noted "... there was an eclipse of the Sun at the time of a new Moon, and in the early part of the same month an earthquake." Another Greek writer, Phlegon, reported the following events:
In the fourth year of the 202nd Olympiad, there was an eclipse of the Sun which was greater than any known before and in the sixth hour of the day it became night; so that stars appeared in the heaven; and a great earthquake that broke out in Bithynia destroyed the greatest part of Nicaea.
This interest in linking the two types of events by coincidence may have been attempts to derive some order out of the unpredictability of earthquakes, possibly a carryover from the celestial omens of the Babylonians. Oddly enough, this type of coincidence seems to persist. The earthquake in Iran on September 16, 1978, the most devastating one of that year and which killed more that 25,000 people, occurred just 3-1/2 hours before a total lunar eclipse was visible there
frank - as you know, we have had quite a few eathquakes lately, including the one that caused the devastating tidal wave!
frank - last solar eclipse Dec. 14th 2001
RALLY TIME!!!
Have fun frank! - Catch some big ones!
Another great day for energy sector!...
http://stockcharts.com/charts/performance/SPSectors.html
IMHO - Program trades kicking in as expected!
http://www.investorshub.com/boards/read_msg.asp?message_id=5956402
RALLY TIME!!!
IMHO - green close today triggers buy signal on computerized trading systems for program trading!
Devin - Sounds great! Lower low, on lower volume makes it ideal. However, I would place your bid now, to put you at the head of the que. Sometimes those extreme lows only last for a few seconds!
Devin - Scooped up some 25s for 0.05
Deva - Yes, looks good! here's another...
"CHAR"
(Check out the price/earnings ratio)
futures premiums are steadily expanding...
http://money.cnn.com/markets/morning_call/
(now +3.15 on SPX)
AMZN - Leading the internet stocks uptrend!
(up another 3% today)
tekprod - Yeah! "Big rally coming!"
NDX 10 points above today's close!
AHAA!!! Futures "MELT-UP" after hours!!!
IMHO - Tomorrow we Rock and Roll!
and I question the validity of little old ladies buying oil stocks (unless they happen to be very astute investors)!
In fact, the only other people I know who own any oil stocks are cash and Deva (both are definitely very astute)!
peg - it's RALLY TIME!!!
peg - ROTFLMAO!!!