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if the dow pops MCD should also be good
cant complain, i made $ on DXD, SDS and FXY and am waiting on HPQ long;
selling getting exhausted; lotta long tails tonite; HPQ after the bell
thats also a possible neckline; 1400 for spx, 45.50 - Q
possible mini inverse H & S - spx; neckline 1400, shoulders 1385; took profits in SDS and DXD
the fact that the dow could not hold 12750 is problematic; now
12000 may be in play; anyone who did not request redemption by the 15th; likely to do so now;
this "orderly" sell off is almost worst than a plunge;
i added some SDS and DXD on the bounce;
i'm flat but wishing i still had some yen; the fed has lost control; i'm just looking for minor blips here and there
took profits in FXY; hope it pulls back; this fed injection should provide a small bounce
hi foot; re spx, maybe we test that 1363 area and then bounce
to form and H&S; LOL - INTC green causes they are still issuing upgrades; can you imagine being able to upgrade your positions? i have to sit on my hands cause i want to buy;
i dont care what is going on this is a stupid panic just as much of the way up was euphoria;
yen strong
NTAP beats and raises guidance; up 7% AH; tech needs its own separate market LOL
thank you so much for your response; after i posted i discovered i need to upgrade from basic
dow held 200 day; got filled EOD in HPQ @ 45.98 - hope i want it
just back in; fed finally did a 7 bil repo and this time its not helping that much
GS bouncing hard; bot some BX and added to HPQ
too many eager to short; cant all be on the same side of the boat; ben yet to come
Qs green; wait for ben
MSFT and GOOG showing strength
5 buckers on DE; at least something is working
hey, just for coastal balance, heres a left coast item;
http://latimesblogs.latimes.com/laland/2007/08/socal-home-sale.html
i suppose its just a matter of time before we see kanye west telling us bush hates black homeowners LOL;
doesnt matter what happens tomorrow that was a nice trade;
the way this market flits around, its never wrong to take the profit; cnbc misreported all day that sentinel was a money market fund; thats gotta scare some folks; dont think all money market funds will tank; dow near weekly trend support
13000-12900; if we are down in the morning it might set up for turn around wed before expiration;
also re second guessing taking short profits - you never know when ben will be back; today he stayed out, but what will he do tomorrow.
yeah, i'm not bullish but nervous about staying short; things seem overdone; got some short profit this morning which is a feat for me as that is my weakness; Qs might bottom when CSCO closes that 29.69 gap thats begging; ironically tech seems defensive; HPQ earnings on thurs; i.m playing small
wasnt last year about this time you had a golf tourney in bend?
relative strength positive divergence; sell off volume lower;
yen (FXY) looks to retest 86 area;
re fund redemptions; gotta believe that most funds have already raised cash for redemptions; if someone wants out, doubt they'll wait to the 15th; expected big down swoosh tomorrow may not materialize - its already in process.
option expiration on Qs - action looks 48-50; picked up some cheap 47s this morning
clinton "business" channel blaming pres. bush may mark the low of the day; rang the register on SDS and DXD; bot DE in low 117s
HPQ in 46s and Qs near 47
dow weekly trend near 13000; can it hold; as cheerleader pisiani
touts VMC, EMC going red - sell the news
calm as long as uncle ben has the spigots open; residential
mortgage market is still locked up; the injections may be assisting the banks and funds but not mortgage holders;
$tnx looks like its putting in a bottom;
LOL. cant believe all the happy talk on the clinton business channel; they opined this morning that the real problem was a
lack of positivity :)
wow. i'm not holding much right now but i have GLD and just picked up some GG and AUY; LOL hope the hedgies dont own much of that; gold equities appear under owned and unloved. AUY came out with good earnings last week.
hopefully in a couple of years or sooner some of us tortoises
can pick up some real estate bargins; its early but i'm starting "just looking" shopping now; property values in the mountain states are still very strong; i would love to see a pullback there to add but i wont hold my breath;
i knew something wasnt right with real estate about a month ago. i have followed one particular mortgage broker for years. have used them twice and received great rates. i check their rates every day and they always change frequently
(sometimes interday) i recently converted a 3yr arm to a fixed and locked in at 5.75. anyway, about a month ago they
quoted 6.375 for conforming fixed; i check everyday and regardless of what the 10 year is doing, the rate remains unchanged. $tnx drops and yet real rates stay the same or actually go up. rates for jumbos have soared.i also represent commercial RE players and they started to pull in their horns and actually take stuff off the table 3-4 months ago. heard yesterday about a doctor in san diego with 800+ credit score and six figure income who was trying to close on a jumbo to buy. for no good reason his lender cancelled at the last minute. i'm also starting to see many more open houses and for sale signs in upscale neighborhoods. socal coastal prices however are still stubbornly hi. i live in an area that probably leads the country in home equity abuse.
you know - couple of mercedes and maybe a bently, outrageous upgrades all on the line. for the last year or so i started to feel stupid cause i would not do the same. my teenager even teased me months ago about not getting with the program to live the hi life off the home bank. thank God.
you are right. i'm most concerned about hedge funds. it was obvious last week that good stocks with good earnings and little or no direct connection to subprime or credit (some of the best) were being slammed as hedge fund positions appeared to be liquidated. depressing when fundies, good earnings etc.
dont mean anything. i've read that many hedge funds cannot even accurately determine how much they lost. some may think,
who cares, its just rich people, but it will have a huge trickle down effect. there are many stocks i want to buy because i know fundamentally and long term they are winners but in this climate the good are almost sold more than the bad. look how bouncy the homebuilders and financials were last week. many shorts in those two weak areas got torched.
its also hard to short when you never know when the fed or some other hand will temporarily come to the rescue. i also read that some hedge fund liquidations also include covering shorts in weak names thereby causing further confusion.
federal deficit down again; healthcare costs still in first place
http://biz.yahoo.com/ap/070811/federal_budget.html?.v=2
remember that "friday's candlestick" is courtesy of ben and
38 bil in tax $; this is one circumstance where charts dont mean much
everyone is focused on CDO, subprime and other losses; what about future earnings; the investments banks will lose a huge stream of revenue from hedge fund losses, reduced M & A etc.
also huge loss of revenue from less lending and money business,
mortgage brokers, bank/fund bonus $ etc.; what will 3rd qtr
earnings look like; residential mortgage lending is grinding to a halt.
AUY (here comes a flood of fed cash)