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ok you da man; i'll just keep quiet and watch the masters
spx turned away at downtrend after fake break thru moving average; after that inventory report that was some magic to levitate energies, now reality returning
guess there will not be much discussion about iraq for awhile
so dems likely to flip it to markets and economy
http://www.washingtonpost.com/wp-dyn/content/article/2007/08/21/AR2007082102025_pf.html
VMW 55-73 just like that; why isnt EMC up more?
RIMMster reversal, split profits
HXM looks for a bounce
10 year plummeled; looks like its putting in a bottom; talk about rate cuts questionable; banks and lenders are nuts - as their rates fall they are cranking customer rates;
monthly tnx shows massive triangle ready to break one way or the other soon - something has to give
NVDA - breakout watch - 48ish
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when you see "cash and equivalents" on a balance sheet, take a second look for example,
http://biz.yahoo.com/iw/070820/0292890.html
beginning to wonder about all the expert pronouncements that
money market is safe; cant imagine discovering your "cash" or safe money is not accessible;
another lender bits the dust; 6000 employees
http://biz.yahoo.com/ap/070821/first_magnus_bankruptcy.html?.v=5
gaso thru 200d
QQQQ downtrend resist @ 47.70 tomorrow; 4 up days in a row;
each day they pick a tech yesterday was INTC, today AAPL and RIMM; might give out tomorrow; however MSFT is oversold and
one of these days they could use it to bounce Qs and spx
Qs were the most dangerous short cause they had the most room to pop to resist.
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theres not alot of logic but lately higher inventory #s have been treated as bearish; driving season is almost over;
very few hurricanes - natgas getting smacked again; hedgies are not in a position of strength to jack things around;
there has been alot of speculation in this area; look at the weakness in world wide commodities - might be projecting slowdown;
XOM and CVX in top ten SP500; today infotech and financials helped hold up spx
WTIC mild trend break; possible double top
SPX downtrend resistance near 1464 and top of possible left
shoulder from feb near 1461; maybe a pop up (fake out thru MA);
energies weak; watch inventory #s tomorrow for clue (maybe up until inventory; clown tv pumping as positive that financials
get $ at lower rates and increase (gouge) consumers with higher
rates; vix gap @ 23.84
XOM H & Sish
fed playing poker; it cant sit back without doing anything for a while until next bad event and let shorts sweat threat of intervention; it sent a message with fridays pre-market move
that trapped overnight shorts;
saturday nite live during the day; clown tv with senator koolaid; LOL, if you're losing your home call 1-800 HOPE - algore will answer and direct your vote in exchange for a bail out; no comedy writer could do better
thanks i'll take a look
hi bruce. ATK is a great company. i'm waiting for 99 - 98;
just had spectacular earnings (i got 11 bucker bounce);
waiting to get back in; they are nicely diversified - not just bullets - NASA contracts also, among other things
hi quave, is that at del sur? looks interesting. what is happening with all those new hi rise condos downtown? any
deals; do you see any pullback on beach property? oc prices still ridiculously hi along the coast. jumbo rates spiking up but prices are not falling yet. all the deals are inland
particularly the new stuff.
HEDGE
OT - hi LB. welcome to the frontier. as a conservative, i'm embarrassed to call myself a "republican." many of them have been infected by dems. its not about dem vs. repub for me, its about right vs. wrong. liberalism is a mental disease
spawned in the swamps of DC. you'll be fine in OR. when i moved to cal 30 years ago my family from the midwest thot it
was one big hippie commune. now, its the reverse. the midwest is a breeding ground for liberal loons and socialism.
i'm in an area that is beautifully conservative politically and religiously; you have to keep a strong, independent mind no matter where you live (except maybe in NCal where you need also to be armed -just kidding) you'll love the NW outdoors and its close to Gods county in wyoming/montana. for me. theres something about the US west that cant be put in words -
from oceans to mountains to deserts, its spectacular. enjoy.
dont let yer wife rain on yer dreams - LOL
foot where is that downtrend line for monday on your chart?
looks like 1470 or so. remember the surprising spike to C.
spx might be the one to watch cause i think they'll jam the
money center banks; short term they are getting funds at lower rates while cranking all their rates charged to customers; rates across the board are up - car loans, credit
cards, installment etc.; their business may slow down and they
may have some delinquencies but their margins may improve.
much of the general media using the same word - "bargin"
altho at this point i'm not sure the average small investor is listening anymore; last night @ the gas station I was watching newstv (yes, LOL each pump has a airport like HD tv
screen) and their explanation 4 last week (without mentioning fed intervention or credit issues) was that smart buyers
"swooped" in to snatch up bargins.
look at the candle on the ndx (more bullish than Qs); i see 2
dojis on the Qs; both the dow and spx had hammers yesterday
showing their strength over the Qs; the financials popped the
most on this recent gyration; tech was not as strong; dow and spx have banks and financials;
today we learned things in the credit world are worse than we thot; dont think you will hear the "contained" word anymore;
therefore, logic might suggest a bearish take and i know you have a bearish proclivity; longer term, that is probably the correct read; however, from a trading perspective, i think it will be more difficult to stay short overnight cause the fed is agressive and willing to take action; i was disappointed that the Qs were not stronger because fundamentally i like select big cap tech; big picture, the boom is over for awhile
and the consumer has pain ahead; cant just wave a fed wand over this mess; also think they will once again scare away individual investors and hedge funds should be pared;
just my 2 cents
that WFC chart is driving me nuts; looks so good and MACD cross-up; i had positions 4 or 5 times over the last year
anticipating 36 breakout and got burned everytime so i took it off my watch and now it breaks out - ugh.
LOL just kiddin but isnt that standard practice everyday for oregon news; BTW, i was referring primarily to cnbc/cramer
cabal
BAC lagging WFC, but still strong;
volume pathethic, particularly for expiration; of course the big
volume came yesterday in the last hour or so;
i dont see any change on mortgage rates; think its sick that this bounce is advertised to the public as an all clear;
today did not help those distressed mortgage holders with the
next payment due 9/1 or coming resets;
i would not go near a short WFC position with a 10 ft poll;
all sarcasm aside they are one of the big insiders and i believe they have very little bad loan exposure; could be wrong but i think they focused on blue chip business borrowers; additionally, in this weird world, the survivors will reap the benefits from the washout of the weaker players;
less competition; also the spread on rates should bring in good revenues for the big banks;
LOL, nothing like alittle insider trading to make up for some bad loans
WFC, lol all time high with BO
cnbc gleefully reporting that the fed action this morning took place after major banks had a teleconference with ben. LOL, any of you have that backline phone #. guess yesterdays heads up was by email or maybe just whispers. feel like your playing on anything resembling a flat, fair field? forget about it.
i might just call it a day; i rolled the dice yesterday on HPQ in 5 accts including kids college money and cashed in this morning thank God; i think this fed action is bad news;
however, its hard to be short over nite when you never know when another panic action is coming; thot they could float this balloon higher
spx- perfect down channel intact - top 1460-1470 - maybe monday if they can keep the three wheels left on the cart
SDS low this morning 54s and i missed it
LOL the cramer fade;
cashin almost 4 buckers on HPQ
LOL money from heaven. pick it up before it blows away. now the fed getting panicky; mortgage rates are unchanged; fed had to rely on telling the insiders so they could front run. wondered why the financials were green early yesterday; buffet buys BAC and lampert buys C and people think they're smart?
last nite eric bolling said buy the XLF "for reasons that will become obvious"; guess things are even worse than we thot;
this is not a rate cut its a bank bailout - wonder if a bank was ready to go; take advantage - thats all you can do;
HPQ earnings look good
http://biz.yahoo.com/bw/070816/20070816005858.html?.v=1
guidance upped; nice growth for a large company