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NASDAQ: There's a gap at 2289.70 and one at 2200.
Anyone here think that 2200 gap gets filled...?
Filling the 2289.70 gap would REALLY help me. ;~)
Synthetic Blood International, Inc. Announces Plans to File Protocol for Phase II-b Oxycyte(R) Clinical Trial
http://biz.yahoo.com/bw/080404/20080404005165.html?.v=1
Deny what, G3? Apple has to have G3 capapbility, don't they?
G3 will allow one to watch tv programs on the phone, as wellas highspeed video, just to name a few of the G3 advantages.
Can the current iPhone provide tv programs, such as CNBC...?
Yeah, Jobs "is" the company. If he ever leaves, sell the stock.
When the iod was released, I didn't think it was enough to propel the company to the heights it has achived in the past few years.
That stock was at 4 and so change not too long ago. Back then, many thought MSFT or someone would buy them to compete with Dell (and, at the time, Gateway.)
(Gateway. What a piece of trash that turned out to be.)
Back in SYBD @ .74, though .64 maybe in the cards before the next blast off. Needs to take out 1.01 to really run. If it can take out 2.25, the sky's the limit. :>)
I hear Apple depleted inventory because they are going to roll out a new iPhone. Supposedly, a G3 model.
Looks to me like we're on the way to fill yesterday's gap on the NASDAQ (2279).
2279 is exactly a 61.8% re-trace from high of 2381 (on April 02, 2008)to the low of 2208 (on March 20, 2008).
Let's see if it happens.
BTW, I'm still holding the QID and the SKF. :>)
Maybe it was news driven:
Internet Hoax Gooses Stock Market
Traders woke up to a pleasant surprise on Tuesday morning, with equity Futures strongly higher. CNBC anchors were exuberant as previous earnings and credit fears melted away.
The cause? An internet April Fool's hoax that backfired.
Dedicated short fund manager Doug Kass, of Seabreeze Partners Short LP, put out an early morning, tongue-in-cheek commentary, titled Time to Buy the Bull? The long time Bearish market pundit and writer for The Street.com and Real Money announced that he was raising his year end price targets for the S&P500 to 1,666, which would reflect a yearly gain of 26%.
The Financial press read the commentary literally. The WSJ announced "Bear Flips Bullish!," causing equity futures to rally. CNN Money covered the joke as if it were a real news item, and Marketwatch declared "Short Seller Starts Stock Rampage." Barron's headline read "Longtime Bear Tosses in the Towel; Says New Bull Market is Upon Us."
Bloomberg's data service ran a full news alert, specifying the details of the longtime Bear's hoax, without recognizing it wasn't real:
- The writedown of toxic paper throughout the world's financial system has dramatically overstated the severity of the credit issue.
- The major money center banks and brokers will be a contributing factor to a surprising 25%+ rise in corporate profits.
- Shares of financials, which have been unfairly targeted by the short community over the last year (monoline insurers, banks, brokerages, etc.), could double in price by year-end.
- Oil prices, stimulated almost entirely by managed commodity trading funds and hedge funds, are destined to drop below $50/barrel by year end.
- The U.S. economy will avoid recession, as housing has definitely bottomed;
Bloomberg failed to note these comments were all in jest, adding to the upwards market pressure.
The veteran fund manger had assumed that readers would get the April Fool's joke -- but never imagined it would go over the heads of veteran financial writers.
Shortly after the open, US equities were in a strong rally mode. The Dow was up over 230 points, and Nasdaq had gained almost 2%, up 50 points.
The short seller issued a sheepish mea culpa that morning. "I apologize to my partners, and to my friends, and especially to the SEC, for whom I have the greatest possible respect. I never intended markets to be manipulated in this manner. I was only trying to make some traders, who have been having a tough year, break a smile...
One part of the joke turned out to have a surprising result. As part of the April fool's joke, Kass announced he would host a new CNBC show, called "The Mad Bull," at 4:30 p.m. EDT daily and after "The Closing Bell." CNBC program director Bill McChesney said that the station had already test marketed the idea, and the show had a very enthusiastic response. The program "The Mad Bull" will begin airing in June.
Sources:
Time to Buy the Bull?
Doug Kass
Real Money Silver, 4/1/2008 7:44 AM EDT
Short Seller Starts Stock Rampage
Dave Callaway
Marketwatch, April 1, 2008
Longtime Bear Tosses in the Towel; Says New Bull Market is Upon Us
Alan Abelson
Barron's, April 1, 2008
Bear Flips Bullish!
David Gaffen
WSJ, April 1, 2008
http://seekingalpha.com/article/70771-internet-hoax-gooses-stock-market
I believe, longterm, the financials are toast. I think we'll see some big swings in the financial indexes.
The high is "in", concerning financial stocks. I think today is a dead cat bounce.
Trend is still down for the financials.
Listen, I'm sure all here know I was a HUGE bull. Just a couple of years ago, I believed the NASDAQ would go to 13,000.
Then, a year or so ago, I figured it had a shot at 10,000.
Now...? I would be SHOCK if we reach the 2000 high, let alone going higher.
I now think we'll be lucky to reach 3600 before the markets crash and burn.
Maybe I'm just the ultimate contrairian indicator. I don't know.
But the way I feel right now, why would anyone have a reason to go long a stock?
If we can get through the 2nd quarter without taking out the Jan. lows, I'm sure we'll be fine for 12-18 months.
Today's gap would be the first target: 117.65
I really wanted to wait for 98, but didn't think it would get there for awhile.
However, it may hit 98 before a rally to fill the gap.
And, there's also a gap at 92. But I think we get a good rally before the 92 gap is filled.
FWIW,
df
More QID @46.13
In SKF @ 103.92 eom
Hey, you're pretty optimistic. lol! I'm not convinced we're heading up before re-testing again.
I think we'll fill todays' gaps.
I think the financials are in BIG trouble. Don't let the rally today fool you. Still looking at SKF for an entry point.
I plan to sell the QID at 51.80. However, that can change at anytime... :~)
Buy the dips, sell the rips...?
"what's wrong with akam this time?"
It's a "tech" stock. :~)
Maybe this will help you:
http://www.stockta.com/cgi-bin/analysis.pl?symb=STP&num1=2&cobrand=&mode=stock
SYBD I've been in and out of a couple of time. The last trade was today at a buck. I bought at .76 a few days ago.
That could be a good one to trade for a while.
Since I won't be able to watch the markets tomorrow, I put a GTC sell order in for the QID @ 51.80
I doubt it gets there, but I put it in just in case we get a "wheels come off" scenario tomorrow.
Edit: Looking to fill a gap on the NASDAQ @2258.10 tomorrow. If that happens, then 51.80 should be a "done deal".
Quite a recovery. This afternoon will be interesting, to say the least. :~)
Do you like FSLR?
Breaking 2288, we should see 2257, a support level, though a mild one.
"Guidance will be key in everything."
If your stock "misses", you're going to get slaughtered.
Monday's the last day of the 1st Q.
Could be some big moves between tomorrow and 4 p.m. Monday. ;~)
If the NASDAQ breaks 2306.48, look out. It'll fall fast and hard. Not much support til around the 2286, then it's onto 2257.
I think it's going to be ugly today. While I belive the "bottom's in", I think we'll go back to 2177 before we start the next leg up.
Going back to the 2177 can take some time. IOW, I don't think we go and do it all at once. Maybe over the course of a months time.
Anyhow, I'm still holding the QID. I had a GTC buy order for more QID at a price of 46.85. I was hoping to a "green" open and getting filled at 46.85. Didn't happpen. So, I cancelled the order.
49.70, at least. I trade uing an indicator for entry and exits. Most of these trades are just for 3-4 days. 49.70 is a 23.6% fib re-tracement number.
So, we could go higher on the QID, but 49.70 should not be a problem.
I post my thoughts are this unfolds.
Edit: Ideally, 46.85 would be the perfect entry point today, but I don't think it will go that low. But if it does, that would be the place to jump in.
More QID @ 47.80 :~)
Sold V at 61.20 (bought at 56.95). Watching QID and SKF.
EDIT: Bought qid @ 48.22. Not a great entry, but I can buy more if it pulls back. :~)
Just for the record, I sold the QLD today at 71.95
Meant to sell at 73.33, but got side-tracked and when entered the sell oder, I accidently used a wrong figured. I didn't realize my mistake until I saw the QLD rising past 72.75
I then went back and re-ran the numbers and found my error.
Oh, I still made a good profit. :~)
Anyhow, looking for a pullback starting tomorrow, for a day or two. Still watching the SKF for an entry point. 98 is a good point to enter, imo, with 97.30 being ideal.
All jmho,
df
Nice article, thanks. :~) eom.
BTW, here's a link to that Rogers interview in case you're interested and you
haven't seen it yet.
http://themessthatgreenspanmade.blogspot.com/2008/03/more-jim-rogers-on-bloomberg.html
Yeah, Jim Rodgers knows he's right on the financials. When asked what kind of timeframe on the financials crashing, he said he's the worst predictor of tops and bottoms. Jim said time didn't matter, it's going to happen one way or another.
He did says him investing time frame is a long one.
Anyhow, I think financials will rally, but start the crash to hell in about 12-18 months.
But, no matter the direction, you can play it both on the long and short side. :>)
It could just be the websites and t.v. programs I watch. I look at very few. So maybe I just happen to be tuned into the "bullish" view.
Though, I did happen to catch a video from CNBC of Jim Rogers.
He's very bearish on financials and bullish on commodities (even gold).
He thinks financials won't see a bottom til CitiBank hit 8.
And, I've posted here recently stating that the XLF is going to 13. So, it will be interesting to see how that plays out. :~)
Is it just me, or is everyone looking for a huge rally to resume (the next leg up)?
Seems like everything I read or eveyone I see on T.V. all say we've bottomed and the next leg of this bullmarket is ready to start.
Also, seems like these same people all are calling for a 20,000 DOW.
What bothers me is, "a watched pot never boils", ya know what I mean....?
LMAO! Good one!
I guess if it goes into a downtrend, Viagra's the answer, lol!
"we all have our Nasdick favs"
NASDICK? Is that a new stock exchange I don't know about? lol!
Yeah, I thought so. lol! I haven't seen that movie in years. A cult classic, for sure.
I was kidding. lol! TS, is imo, a hot head. I just don't care for him.
Plus, i think he needs to lose a little weight before doing those Subway commercials. lol! (And, I'm NOT kidding.) :~)
BTW, I just paid $4.099/gl for dieselfuel. And that was a decent price!
OT: I don't like orange. :~) I don't really have a favorite driver. I like alot of those guys.
24's what got me back interested in NASCAR. Until about 4 yrs ago, I hadn't watched NASCAR since the mid 80's when Cale Y had his Monte Carlo (and a Grand Prix as back-up). Cale totally dominated for a year or two. That may have been when they introduced those infamous restrictor plates.
Then in the 90's I got into Indy Car. Loved Little Al and Penske Mercedes. Another dominating car. They blew everybody away, so bad they had to change the rules regarding turbo boost.
At the time in CART, if you ran a pushrod engine, you were allowed to run more boost than an overhead cam engine.The reason being, pushrod engines were more prone to engine failure compared to overhead cam engines.
Penske found that rule burried in the rules book. Mercedes was working on new technology at the time and bought this new design engine from another company.
Anyhow, Penske partnered with Mercedes and, as they say, the rest is history.
Penske totally dominated CART with that engine. I was at the Indy 500 in 1994 when Little Al was going for back to back Indy 500 wins.
He and one of his teammates, Emmo Fitipalti (sp?) couldn't stand one another. Unser, with about 5 laps to go, is WAY ahead of everyone. All he had to do was sit back, take it easy, and cruise to a win.
But no, he has to try to humiliate Emmo by trying to lap him.
Next thing you know, Unser hits a wall in a turn and is out of the race. Emmo goes on to win the race.
I'll never forget that race or how the crowd went wild the announcer came over the P.A. system and told of Unser crashing.
Alot of people despised Al Unser, Jr. I liked him as a driver. Maybe if he didn't race for Penske and drive that Mercedes engine, I wouldn't have like him.
I was a huge fan of Penske and that Mercedes engine. :~)