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AAPL has been extremely weak. Even when the market bounces it can't muster a bounce. A very bearish sign for it going forward IMO.
Was anyone paying attention? I hope so. I loaded up on additional shares of T for a quick trade. VZ up second day after earnings. Buying T going into Tuesday is almost a no brainer here. If you can say that about any trade.
These are consumer stocks and are being viewed as a safe haven from global weakness. If you look deep inside the indices there is much trouble. Theses stocks will be the last to turn...but they will follow as well.
And btw, none have been over 2.0 in the past week or so.
Which put/call, total exchange, index, or equity. The values have different meaning. Usually when the index is high, it means the big boys are hedging against their longs and probably NOT a contrarian indicator. If the equity is high, usually a sign of the little guys putting on bearish bets and usually is a contrarian indicator.
Smokey, how many more signs do you need? The top is in.
Nice but these are nothing more than WAGS and certainly not actionable.
If not and we get no follow through today, then yesterday and Friday were one helluva bear trap. My confidence in the reversal is eroding.
Same here and recall our discussions. All the gold bulls were trying to blame cyprus or other poor excuses. I think we finally have a shift here, and not just gold either.
ahimsak, where are you at? The world is finally falling apart, Chinese economy reports accelerated slowing, major selloff in commodities, oil, gold and silver on fears of global economic slowdown. Biggest market loss in months. WE FINALLY HAVE A REVERSAL SIGNAL!! And now you're MIA? You've been fighting the uptrend for months going short and now that it's time you're quiet as a mouse. Let's go man, time to make some money!
Anyone hear anything about explosion in Boston at the marathon? News just coming out and is very sketchy.
OK now you're talking something other than trend lines. Yes there's support there where the breakout occurred. But at level the uptrend will have been broken.
Schiff is a broken record self promoter.
You mean 154.59 right? Depending on which trendline you're looking at could be even higher than that. I think in the current action you also have external market events all confirming a potential downturn here. The bears may finally get their chance now!
Rivers, this morning I sold off another portion of my QQQ and only have a very small amount left with a basis of around 31. I also sold off a small portion of my T, along with a couple of shorter term long plays. I've added some QLD to the mix. Still net net long but over %40 cash now. Keep in mind, I've been scaling out of long positions gradually since January. I still think gold and all the metals, iron ore stock, etc getting crushed is an overall ominous sign. Today is looking to be confirmation. Let's see how this market closes but I believe we may have seen an intermediate top last week.
bulls will be joining PM'ers in misery soon.
That video is almost 2 1/2 years old. And though I'm sure the author was trying to be cynical, it was the best advice anyone could have given.
I think this is a reasonable read and explanation of what's going on with gold prices. You bring up a good point about copper which is almost at a one year low. Even though the market is near highs, if you look inside, it's not that healthy. Tech is doing nothing, banking run has been over for a while...it's the staples and yielders that are being run up. And though the overall S&P 500 PE is within hisorical reason, the PEs of some of these run up stocks like HD, MCD, or CLX are getting way out of wac for what they are.
I have been very bullish (from a market perspective) for a very long time. Though I have also agreed with many of the bears on all of the systemic global economic troubles. Though from a market perspective they have been useless bits of data that have been unactionable. But I really believe this gold selloff is an ominous global sign. I certainly will not be buying any gold come Monday and will continue to offload my equities.
But yet no one can explain why the huge disconnect. Gold has been selling off for months now and broken major support. If you are putting all of your faith in "fundementals" I'd be careful because fundementals havn't been working in anything for years.
just price reacting to poor economies right now.
Sorry but that is a poor excuse for an explanation. Why the disconnect? Why are the markets appreciating because of fed printing while gold is not? Poor economics? Of what? In 2008 both the equities markets and gold sold off hard in tandem. Now we have a complete disconnect. Are gold prices presaging a global selloff of markets just to come? Maybe. But until you understand what's happening, saying gold is going to continue to go up is nothing but guess work.
As far as doomsdayers, don't get caught up in the hype. The doomsdayers have been around since the early 1900's. Ever see the movie Deliverance (1972)? The character Lewis played by Burt Reynolds was also a doomsdayer and lived his life by it. It's nothing new. If you enjoy living your life by it that's cool, but it's doubtful it will happen in your lifetime.
BTW, if you talk to anyone that grew up in any of the German occupied countries during WWII, you'll learn that things were about as bad anyone can imagine, fathom and atrocity was everywhere. But people tended to work together and help each other out, not the mad max world that the prepping shows portray will happen to people.
ahimsak, what are you basing your reasoning on? Gut feel? Come on. Unless you can articulate what is going on with gold prices right now causing this breakdown, how can you say anything about it going up without it being anything other than wishful thinking.
GLD has never been below its 200 MA on the weekly and GLD has been around since 2005. We have a major breakdown going on in gold right now. Gold prices themselves have not been below the 200ma on the weekly since 2001.
I don't know, gold was at a major support point after trending down for months. It is now breaking this level and below 1500 so who knows where the bottom is. And, this is very indicative of something systemic that is going on that the inflation watchers are just not getting. I would not be a gold buyer here without a clear understanding of why the disconnect.
I'm assuming this is a rhetorical question. You do realize there are some powers and rights the government has that the private institution or individual just does not? For instance, putting a man to death. This disparity will certainly never change.
Well then you know it's going up from here. Wonder what they're telling their top clients.
Except gold is lower than 1 year ago and the market is higher. I've been hearing that same gold tune for a long time and it's just now working right now. Maybe one day.
"before the bottom falls out."
What makes you think that? Do you know something about the fed's plans that the rest of us don't? I think fed will be pumping for a long, long time. This is the internet bubble all over again.
It should tell ya something about the power of this fed injection frenzy. As they say, don't fight the fed!
Wha?? QE3 is directly flowing about $40bil/month into MBS and now $45bil/month directly into treasury bonds. Why wouldn't you expect bonds to rise. They are not flowing money into the market. That's the institutions borrowing money for cheap and flowing it into the market.
How ironic that the market is down on a weak jobs number. The market hasn't cared about the economy for years now, but is instead driven by QE. Today's move is just knee jerk. The weak jobs number actually ensures QE remains around for a while so I expect a bounce from today's selloff as soon as the report is fully digested.
I'm not sure what your point is. Dividends are paid out to share holders. So I assume it would go to the federal government as revenue.
What year is this data from? That data looks bogus to me. T has a PE of around 30 and has a 4.8% dividend. On January 4th it was in the 5s. not 3.7. VZ has a dividend of 4.2 and has never been that low. If you're trying to make a case for the market being overvalued, based on PE it's within the historical norm.
Except that they won't do it. They can't.
I'll listen to it to get some ideas on what's in the spotlight. For instance when JCP was tanking heavily, the entire team just went with the flow and said they wouldn't touch it long. In the olden days this would have been something I would look at shorting. But now, much wiser, I knew it was good for bounce. Went long and made a couple of points in just a few days.
You gotta take CNBC with a grain of salt. There's gold in there, you just gotta know how to dig it out.