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CAT propaganda
CNBC was ORGASMIC this morning about the beat...here's what an analyst had to say...
Sterne Agee analyst Lawrence T. De Maria said his firm does not expect a demand rebound until 2011 at the earliest, and that cost cuts, a better tax rate, foreign exchange and accounting for inventory helped Caterpillar during the quarter.
In April, Caterpillar reported its first quarterly loss in 17 years, citing weak sales and the cost of laying off thousands of workers. It also lowered its outlook for 2009, saying the global economy was clouded by uncertainty. Last year, Caterpillar generated 67 percent of its revenue overseas.
It's trading below both the 50MA and the 200MA, both of which are turned down...don't know how that structure points anywhere but down
Thx...SPX double top
Daily stochs topped...the rally (past week)may have been the last hurrah before a major correction...we'll see how it pans out.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p72168094444
No kidding!
and they were $1 billion short on revenues.
SKF triple bottom
http://stockcharts.com/h-sc/ui?s=SKF&p=D&yr=0&mn=6&dy=0&id=p40899216326
Eyeing the gap at $78.
SKF Triple Bottom
Same as Sept-Oct 08 and Dec 08-Jan 09
$100 spikes followed
http://stockcharts.com/h-sc/ui?s=SKF&p=D&yr=1&mn=6&dy=0&id=p22958234322
weekly
http://stockcharts.com/h-sc/ui?s=SKF&p=D&yr=1&mn=6&dy=0&id=p22958234322
I've had great results with oil topping in the first week of June...file it away in your book. This year was a week late...but that was the week the "rogue trader" had to get out of shorts.
Or a 3:50 reversal?
Reversal Thursday coming at 2:30?
Gap down on XLF closed.
No apology necessary...trading frustration gets the best of us sometimes...:)
For clarification....my trades are intermediate term...3 to 6 months, generally.
Of course I was hoping it would break there...I'm short!
As for there being nothing compelling about the chart...it is very compelling to me and my way of trading...
GL
I'll have to take issue with your comment,
<<<being overly influenced by some of the perma-bear nonsense here>>>
as I'm sure it was directed at me.
My position since May is that I believed we were at the upper end of the envelope and there would be a correction to the bottom of the envelope (or a new low) before a move higher.
As of today...we are trading at just about the same levels as then...and the direction is still to be resolved which way we break...
to me nothing has changed....and I am no perma-bear...just trading on a longer timeframe than some here.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=6&dy=0&id=p96864781684
Bradley siderograph has the yearly high today...which would fit perfectly with the action of a right shoulder top...
SPX maxpain 910
Bull-trap today.
This mini-rally has changed nothing...
Left shoulder took 4 weeks to develop, and had 2 peaks
This is the second peak in the right shoulder (working off daily oversold), is now 4 weeks in duration and should fail
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p72168094444
Weekly still has lots of room down....looks like the final bull-trap before the big down.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=6&dy=0&id=p96864781684
OK...we have Meredith Whitney raising her GS target to $186
Where's Henry Blodgett....can I get a $1000 target?
The manipulators are all long here. They set up the market to take it higher.
Consumer confidence put a fly in the ointment....they will have to sell their net-long positions as they get overwhelmed by selling from here on out IMO.
Looks like the Consumer Confidence number will be the excuse for the crash
XLF cascade possibility
http://stockcharts.com/h-sc/ui?s=XLF&p=D&yr=0&mn=3&dy=0&id=p17435531139
Ready for an explosive move up...A BULLISH CRESCENDO!
20 MA turned up...about to cross 50MA
50 MA bottoming
saucer bottom...cup&handle breakout coming soon.
I have July 17 as the low for the move (or high for SKF).
http://stockcharts.com/h-sc/ui?s=SKF&p=D&yr=0&mn=3&dy=0&id=p17435531139
From your astrologer:
<<<investors are in a fog, waiting for something to either confirm their greatest hopes that the economic recovery is indeed unfolding, or their greatest fears that the improving markets and economic conditions of the past four months have been nothing but a mirage. Right now it appears that the hopes and fears are about equally balanced.>>>
Here's the weekly rail report which shows a virtual collapse in freight with NO IMPROVEMENT in recent weeks and levels OFF 20% from last year.
http://railfax.transmatch.com/
Or maybe Goldman will load up on puts today and downgrade itself!
:)
Somebody QUICK!
Upgrade Goldman and put a $300 target on it this time....yeah, that'll get em.
Guess BofA was long GS...can't stand for a decline in share price
http://www.reuters.com/article/marketsNews/idESBNG48933920090709?rpc=44
ok brutha!
Thought you were leavin' some meat on the bone is all...
Wow...you guys(and gals) have no faith in this decline.
We've just gotten a weekly sell confirmation and everyone is running for the door and going long.
Guess Bliss and I will have to pocket all the dough.
How do you post an annotated chart?
Thanks
Could get ugly here
I like your's even better than mine....:)
Think it's time for a little Goldman haircut.
http://stockcharts.com/h-sc/ui?s=GS&p=D&yr=2&mn=6&dy=0&id=p33155676258
Set up for HARD DOWN
20 MA about to cross 50 MA
20 MA is down
50 MA has peaked
200 MA is down
Setup looks like June 08
http://stockcharts.com/h-sc/ui?s=XLF&p=D&yr=3&mn=0&dy=0&id=p28618935105
Happy 4th! Have fun....I'll be doin' the 3 b's...beach, boat, BBQ!
Breakaway gap down off the right shoulder...I don't think we fill this gap...
I hope everyone makes $$$...just calling it as I see it.
Move is just getting started.
Then why do you use inflammatory language like Brewing Crescendo, Record Highs, and extreme bearish complacency, if you are just trading what your method tells you.
As far as MA's...20 MA is down, 50 peaking, and 200 down hard
What leads you to use hyperbole to the upside in that scenario