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ooops, gues SPX is under. Was looking at delayed data.
Buzz
OCNW, weeeeeeeeeeeeeeeeee eom
DJIA closed below it's August closing low, SPX right on it, COMPQ is higher however.
Buzz
The market ALWAYS rallies the day after Tgiving. Half day, low volume, never mark it as a bottom.
Buzz
Here's your close under 12,845. eom
Happy Tgiving everyone. I hope all of you, as I do, have much to be thankful for. Here's Brig's list:
BRIG SAYS "I am thankful for ......"
Beer
Whiskey
More Beer
More Whiskey
10 dollar hookers
More Beer
More Whiskey
Toilets
Have a good one all, and Brig ...............
Buzz .... off for a few days
Bear rally forthcoming, but after that, gonna test the august lows.
Buzz
HIHO next week. eom
And I'll probably pick up some IMOS tomorrow or Friday.
Buzz
The day after you buy some. eom
Absolutely. eom
Got my first starter in OCNW today. Might go as low as 2.00, but trading at cash value as we speak. WIll add at round numbers, 2.50, 2.25, 2.00.
Buzz
Have a good one TM! eom
Hey zep, the other day brig sends me a pm discussing "consumer discretionary spending". I was in shock for days that he could put that many multiple syllable words together.
Buzz
Sleeping, lol. The X wife has the kids this year on Tgiving day, so we're not doing Tgiving dinner until Sunday. My GF and I are going to sleep late, go see a movie, build a fire, drink a nice bottle of Merlot, then get buck naked, rub butter all over ourselves, and play slip and slide on rubber sheets.
Buzz
And oil prices are impacting latex, which means no inflatable companions for brig for a while.
Buzz
He's a wannabe, like that nut job in N. Korea. He's an egomaniac. I loved his quote "if the US were to invade Iran or my country". He tries to increase his own self importance by linking himself to Iran, and making oil prices the issue. Venezuela doesn't have nukes. That's the issue with Iran.
It's getting close to time we should just obliterate all the nut jobs out there before the one in Iran decides to lob a low grade nuke at Israel to celebrate some luny towelhead holiday, or the nutjob in Venezuela decides he's not getting enough attention so starts helping Al Qada.
Buzz
brig's on sale?
How about you, me and a pound of butter. That sounds like a better plan.
Buzz
If the Dow doesn't recover 13K tomorrow, we're probably gonna test the lows from August. S and P may hit a wall of support around 1400, but if that goes, gonna definitely test the lows from August.
The real problem is, we're getting dangerously close to testing the up trend line from the March "03 low that also involves the 9/11 impact low. That's been our major support for 4 years, testing and holding on 3 occasions.
Buzz
Oh look. Here's one. OCNW. perfect. eom
Anyone notice the price of a pound of butter has doubled over the last year?
Buzz
I guess I'll come up with a Jan effect list over the tgiving holiday and maybe play a few stox for fun.
Buzz
Never short a stock AH thurs after earnings for Fri or on the next Fri. Especially one like CRM, a darling. They were just squeezing the crap out of everyone trying to short it on valuation today.
Buzz
Liv Tyler can get me up 100% in a few minutes! eom
Dow 6,000 by 2022. eom
But they DO know how ..............
to spell definitive. LOL ;)
just yankin your chain a little
Buzz
The descending triangle, also a variation of the symmetrical triangle, is generally considered to be bearish and is usually found in downtrends. Unlike the ascending triangle, this time the bottom part of the triangle appears flat. The top part of the triangle has a downward slant. Prices drop to a point where they are oversold. Tentative buying comes in at the lows, and prices perk up. The higher price however attracts more sellers and prices re-test the old lows. Buyers then once again tentatively re-enter the market. The better prices though, once again attract even more selling. Sellers are now in control and push through the old lows of this pattern, while the previous buyers rush to dump their positions. (And like the symmetrical triangle and the ascending triangle, volume tends to diminish during the formation of the pattern with an increase in volume on its resolve.)
http://www.chartpatterns.com/descendingtriangles.htm
The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution.
The real issue is their debt load. I doubt many co's want to take on 30 billion in debt.
Buzz
OMG, are they going to start saying the bottom is in now in housing? For the 20th time?
450K subprimes set to adjust up off teasers each and every month in 2008.
Buzz
Are you on crack? S and P futs are currently down 1.25 points from Friday's close.
Buzz
I never, ever said 15K. I said 14K beofre 12K. Now I say, 11K by July.
Buzz
I also wonder if since the FED has extended the dicount credit window to 30 days, if it delays potential overnight repos, thus lowering a liquidity infusion.
Buzz
THat's an interesting theory, and the PPT typically takes friday afternoon off, thus the lack of a substantial rally out of the lows today as we've seen the last few days. Hedgies use stops, PPT doesn't care since they resell to institutions within a month, so we do actually have a sceanrio set up right now. Fed has pumped in about 75 billion in liquidity over the last two weeks, and they're probably near their limit at this point.
Buzz
Black Monday???
The complacency of the bulls is beggining to remind me of this time 1999. The PPT must be running out of money with the low dollar.
Buzz
MSGI, I think the "credit crunch" and housing is definitely a problem, but what's being overlooked is "non core" inflation, which includes energy and food. As a single dad, I go grocery shopping quite a bit, and get the receipts from our Nanny. I'm shocked at how prices have escalated on meat, milk, laundry detergent, things like tylenol, pepcid - which I live on, lol, etc. Many have DOUBLED due to increases in energy and packaging as commodities have risen while the dollar falls. The only thing cheap out there is technology, shocked at how cheap computers are now. Not to mention gas prices, utilities, etc.
We are very close to a recession, and lowering interest rates isn't going to keep it away. The market is starting to realize this.
Buzz
Is this a "black" Wednesday? The "black" days seem to be getting more frequent. Could be entering a bear market after th first of the year. PPT might be out of money with the dollar so low, lol. Not to mention, it's like the market finally realized, shit, oils at 100.00 a barrel. That can't be good for spending. Duh.
Buzz
Is today black Thursday??? eom