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It seems there's no shortage of good news at this time. I'm confronted with the same situation in the coming weeks. Most of the good new is right here on this board.
I think the US is the poster child for that!
We've all of a sudden got a buyer or buyers. Some pretty good volume this last hour.
CYCC up 15%.
CyCC is up 13 plus percent. Broke through .36 just now
Hey, If we can get back to say mid .50s we can take a small profit and move on.
Looks like all of a sudden buyers just showed up. Perhaps there's a PR pending or the presentation comming up is getting some exposure. At any rate it looks like CYCC has leggs.
I second that.
I think your right.
When the pork spending comes out and proper "stimulus" goes into the market it goes up and not until IMHO. I think we're headed to the 7000s until this stimulus gets done in the Senate.
I heard three interesting ideas on Sunday. First-Start the conversion to natural gas. That means infra structure in the auto industry and retail sector. First Federal then state and finally the consummer.
Second, The Fed could authorize home loans at 4.5% for whomever purchanse a forclosed home and declare a tax holiday for that home whether it's rented and when it's finally sold. It would cost the Fed almost nothing to do this and it would establish a bottom in the market.
Third allow companies to write off 100% of equipment purchases in 2009.
These are obvious no brainers in my view. We need to fix 2009!
I'm fully and completely in line with that. Politicians don't like it because they wouldn't have as much power to control us. Govt. would have to live with in it's means. You get my vote!
Actually, I like the Bortz approach. It's squeezes out the imbedded tax on products and would make us as a country more competative. Like it or not we compete in a global market.
Oh, I agree whole heartedly. No doubt about that. I've lived several variations of this and it's just another cycle. In my opinion if money is to be spent it should end up in the individual hand of the Americans. Tax breaks don't cause the Govt. to print new money if the belt is tightened. You know a trillion here and a trillion there pretty soon you have worthless money. It could become like these penny stocks that we love to hate! So, I didn't mean to paint with a broad brush here. Just one really concerned American wanting the best for this country and it's people.
Yankees1963, do you remember when Congress changed the tax laws on depreciation thinking it would force the rich to pay more taxes? Long story short. It caused a snowball effect that ultimately broke most of the large developers and force most of the S&Ls into default. Here by the resolution trust was formed. I mean I've lived it. I've never seen Govt. do much of anything right. Now, I don't see that changing one bit.
Yes, I hope they will establish line in the sand/ party line. I'm old enough that I've lived this before. Since you read my post I'm sure you noticed what my mortgage and vehicles were financed at. I also had 100K borrowed that went to 18%. No, I have life experience that says pork doesn't generate the intended outcome. our Govt.has been out of control for some time now. Both parties contributed to where we have come. I'm going to cheer for en encouage any one be they Demacrat or Republican that will do the right thing and attempt to restore fiscal sanity.
I hope your right about that but other than a number not falling below the number 8000. I'm not real encouraged. OBAMA is constantly talking down the economy. He also intends to repay the UAW which will forstall the obvious unavoidable chapter 11 filing of GM and Chrysler. Wallstreet is savey enough to know the out come of the Dems. Pork Stimulus package. I lived the 80s that OBAMA referenced! They followed right after Carter was voted out of office. My home loan was 13.25% and my truck was financed at 22%. I had a 100K borrowed that went to 18% and almost broke me.How many of you can relate to that? So, given what I've stated, do I think the DOW has bottomed. For me the answer is no. Not trying to be overly negative here. Just trying to help others have a perspective.
OT:I wrote my Senators this morning
Senator Roberts
I'm writing this morning to urge you and the Remaining Republicans to oppose the (PORK) stimulus package. It's nothing more than a payoff to those that put the Dems. into office. I hope more people come to understand the next shoe to drop will be inflation and higher interest rates. I've lived that and don't care for that either. The current generation either don't remember or weren't around when Carter served as President. I lived under that administration. The interest rate on my home was 13.25% and I had a truck loan at 22% and I was not a credit risk nor was this considered a sub-prime loan. The truth here is that if GOVT. truly wanted America to recover Government would be cut back in size. The POLITICIANS would state that we've been taking to much money from the individual tax payer as well as the corporations. I'm sick to death of all the imbedded taxes that WE the PEOPLE pay. Something has to change and it is. The sheer weight of it all is weighing heavy and some in Washington want to just keep on keeping on with the spending. I ask you to think back. Do you really want a return to the Carter era? Senator Roberts please urge your colleagues to have back bone on this current package. You may not be able to stop this legislation but the Dems. are fearful of passing this Pork stimulus bill without the cover of Republicans. Many of the Dems. know and just don't have the back bone to stand up to their own leadership. There are some that just aren't smart enough to know. Please Senator urge your colleagues to do the right thing and don't give the Democrats cover on this Stimulus package.
Respectfully,
Robert Proctor registered Republican voter
Obama took political contributions from Fannie May and Freedie Mack in fact he was 3rd. Guess who took the most? Barney Frank and Chris Dodds.
Well, you stumbled into something! If people took that money and saved it wouldn't that essentially re capitalize the banks? It would also recapitalize the consumer! If people caught up their bills that would allow them to perhaps head off some forclosures. Some might want to buy a home. Looks to me like it works on all fronts!
OT: Seriously, it sounds crazy but would work. Better yet if Govt. was serious. They would say hey! We're sorry we've been taken to much of your money and now we just aren't going to take that much any more! Corporations we've been taxing you to much and we're not going to do that any more either. Dow would rise 2000pts on that type of news. Bussiness isn't that much different than investors they look down the road and they see a freight train with OBAMA at the helm. Part of these layoff are for anticipation of what going to happen under his administration. Remember he told us! I'm saying we get closer to 7000 before we touch 9000.
OT:Didn't you realize that public schools quit teaching economics, American History and Goverment in the schools years ago because it was to hard and boring. Heck, you've got people out there that don't want a child to know when they even made a mistake.
We have raised some very slow people in this country for some time now. The real learning is going on boards like this one. Most are not that motivated. Very sad situation if you ask me.
OT:I do believe the stimulus is a big part of it. I'm thinking under 8000. Not trying to be negative just real. I've never seen Govt. fix anything. This is no different. At this point the negative DOW is watching what is going on. Not getting very good grades thus far. At this point there is no Republican support. I support that. Spending for the sake of spending is bunk. They should divide the 800 billion and distribute it to tax payers. Better yet don't collect it in the first place. That would do more good that anything else. JMHO
further to your comment. Specificly the sub prime lending enabled the housing to continue long after housing should have slowed down. This is a classic example of what happens when Politicians get involved or Liberal do gooders who want everyone to have a home because they deserve one instead of having to earn one. Normally interest rates would have rose to slow things down. Oh, when you say sub-prime it sounds like something lower than prime. In reality it was a higher rate because default was more apt to happen.
The market place had stopps built into it like credit reports, Pay slips. Credit history. I bought a home a while back on what they called Stated Income. I told them everything and gave them nothing but the my checking account balance. How about that. For the record I did pay that loan off. Apparently many didn't.
OT:Well, I believe the DOW hit it's highest mark ever. I also believe that unemployment was some of the lowest on record. Had the Bush Administration been more agressive with Barney Frank and Chris Dodds and required Freddie Mac and Fanny May to stop the sub prime loans that were being made under Clintons watch and continued on Bushes watch. Things could have still been pretty good. I have an article that I can post that speaks to this and it was written in 1999.
The sad part of this is I don't believe we are through yet. I'm looking towards the mid 7000 level for the dow.
One things for certain. The market is definitly in love with the Demacrats stimulus package!! Go OBAMA!!
Sounds like great advice.
Perhaps you should forward that to the new Prez when your done!
OT: I'm glad Republicans stood their grounds. Back bone is good. To this day I've never seen Government fix anything. There are folks on this board that would be much better qualified than those jokers up there. Broke ass attorneys is what they are. Excuse me if I offended. You know next to Freedom, Economics is probably second to being the most important concept. America doesn't teach that anymore to our masses. It's just sad. Folks don't understand money. How it is made and lost. I could go on but I won't. Most on this board get what I'm saying. Have a great trading day all!
If they do they better say yes! Actually, I've had a hard time with this one. It's being a good teacher though. Pain inspires learning!LOL I've been looking at the volume lately. No news pps falls. volume has gotten about as low as it gets. No massive selling. It takes more than one day to create a trend. Who knows maybe CYCC just moved due to the positive market yesterday. Don't know. I'm not bailing though. It's way down in value and just had a nice run. I hope we're watching a new bottom form. Futures are down right now so today could tell us something. I'm not the chartinator so don't look for me to tell anyone to buy!!!
chartinator, I'm interested in knowing what your prognosis is for CYCC. I know Sheff liked it. We've watch the price decline on very little volume. Could you speak to this based on your experience when you have time? I mean this play doesn't make or break me. My current cash flow is going elsewhere for the moment or I would just add more money. By the same token it is an investment and I'm interested in your take based on what we've witnessed these last three weeks. TIA
Your hangen with CYCC. I'm staying put for now. Missing a lot of action but not a lot of options at this point.
Chartinator
I saw the forcast for cycc was 2.00. Is cycc suffering pending quarterly results or is it a case of having no substantive news of late? Just curious, locked in for a while. There is just seems to be no real passion for cycc at the moment.
How agrivating. CYCC down on 11,000 shares! Crap. I expect at somepoint it should recover. This one is hard to explain.
Hopefully the volume will be a bit higher today. I hope it does move back up. CYCC did close on an up tick and saw almost no down pressure yesterday. Hope we can high 5 later! LOL
That's a big 10-4. That's the one I started with. It's looking ok on not much volume. My thinking is tomorrows volume could push the price back into the 40s.
I'm liking the way the chart is setting up for cycc. I realize it's not active to the degree that many of these other stock are but I'm encouraged by what I see. Anyone else share in that opinion? It's looking to me like we've seen the worst here and things could improve as next week passes. If I'm not seeing things in the correct light please explain. Thanks
That potential does exit. This is a literal flat line!!
Sounds good. That's my sentiment as well. Guess I'll go find some new money!!!
Chartinator, Is this one we are just going to ride with a bit? It's slipping a bit on no real conviction either way. I hate to bail to soon on CYCC. This is just a tough time in the overal market. I know you'll probably have thoughts on this later in the day as time permits.
I'm not certain anything but time will fix any of this. In the beginning all that had to be done was Reel in Fannie May and Fredie Mac. This was warned about in 1999. I'm going to post the article. I have it on my computer at work. It amazing how little attention get paid to things sometimes and our memories appear to very short as well.