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Since when do the markets trade on unemployment figures and housing overhang? I wasn't aware there was an price to unumployment ratio, or price to housing overhang ratio.
Employment lags recession end by at least 2 years historically. The market has pretty much accepted that housing is several years away from any type of recovery. National debt is totally ignored. So move on.
Ultimately, the market moves on earnings and future earnings. Adobe just beat, Oracle beat, indicating this could be an upbeat earnings season and that's what is driving the markets higher.
As long as there's no double dip, and that's pretty much off the table now, corparate earnings can continue to rise. Overseas sales will continue to lead revenue growth while domestic companies sit on large cash surplus for potential capital spending. Costs have been cut via layoffs to labor force with current employee productivity increased, and they are essentially borrowing for free now.
S and P will tag 1220 by end of year.
Permabears can call it a fed pump job, market manipulation, or whatever else they want to, but the markets will continue up until end of year, IMO.
Every tom dick and haryy on every message board is trying to call a market top. When that happens, there is only one way the market moves ......... UP.
Buzz
The most important indicator, the MBSR, a contrarian indicator, points to more upside in the markets. The MBSR, or "Message Board Sentiment Reading", is excessively bearish:
87% calling this a top
67% calling this "fed market manipulation"
72% "buying puts"
That means another 50 point move up in the S&P 500.
Buzz
Que es problemo???
Damn, and I had guessed Oprah. eom
You get busy with some married Iranian chick because that's the only one you could find that would get near you, they want to stone her to death, and now your answer is to assasinate Ahmadinejad?
If anyone every wondered what the PPT looked like in action, just look at the last 15 minutes.
Buzz
Will you throw in the fish???
Well ..............
Accommodation and food services sees largest rise in online job demand in June
Summer jobs for tourism industry.
The risk is a buyout on the cheap. I am personally just leaving it alone as I don't like the whole situation.
Buzz
expect bankruptcy. eom
Well since it's in California, it's actually just fine.
Buzz
Don't me modest. You have LOTS of things about you that annoy women.
Buzz
Thanks for the update. Very important. eom
In brig's case says ...........
WOW! THAT'S A SMALL PENIS!
Hey Brig, wanted to show you this
Here's, why, this is what happens ...
Oh, and Goldman. HAHAHAHAHAHAHA eom
Mexico, Greece, Portugal, China, probably another 100 or so countries.
Buzz
Well, closed up 2% from buy at 6.00, but just a nibble. I'll either sell that at 8.00 or buy some more on a second nibble around 5.00, then start biting really hard around 4.00.
Never know with these chinese stox.
Buzz
Going to start accumulating some KONG tomorrow. eom
Except for brig on weekends, then those pink panties turn raw on.
Buzz
Geez, by the time you pay the fees, I think you actually lose money on the 3 month T bill, lol.
Buzz
Roubini's a permabear moron. WHen the dow hit its low March 09, he said dow 5000 within 3 months. while I don't necessarily disagree with this call and expect to see dow 9000 this year, I wouldn't listen to anything roubini says.
Buzz
We need MSGI to post it for confirmation. eom
Black Friday??? (LOL) eom
when did u become such a philosophical optmist. Geez, I miss the old brig. That "marriage" of yours to raw is turning you into, and I'll use a word I haven't used since probably 3rd grade, a bigh SISSY.
Buzz
Kinda looked like capitulation and recovered 200 day sma on the weekly.
Buzz
speaking of dogs, how's the ball and chain?
(tadadum)
speaking of blisters, how do you keep all of them on your right hand from interfering with the other things you use it for?
(tadadum)
speaking of dead on a battlefield, how's your sex life?
(tadadum)
speaking of work being done, when's the last time your lazy ass actually accomplished something
(tadadum)
Heading out to Vegas now.
Buzz
I have petitioned the IRS for years to make a tax deduction on the"could have had a bigger gain so lost money" from things I sold too soon. Call it the left on the table tax deduction.
Buzz
basher. eom
thanks bill 1109. eom
Correct to 1159, possibly 1119, then onward to 1224. I have my perfect indicator ...... one of the worst traders I know has been short since sp 900 and refuses to cover. Should be a lot of that who will finally get washed out.
Buzz
Have you noticed the Fidelity commercials promoting no commission on Ishares etf's?
The leveraged will go away eventually as they are useless for anything but daytrading. Too much decay in the derivatives. Only the spiders will remain.
Buzz
No offense, but it's your own friggin stupidity for living some place where it snows 10 friggin feet a year and goes below freezing.
Try moving some place sunny and warm and the whole problem goes away.
Idiots.
Buzz
It's not the correctible type, that's T2. T1 is what used to be called juvenile diabetes. The pancreas no longer produces insulin at all, so he takes injections with every meal and snack. He is handling it amazingly well however, and can lead a wonderful normal life with proper management. Well, as normal as could be with me as his dad, lol.
Thanks for the thoughts.
Buzz
"what up, dude???" .......
sorry, just noticed this. Maybe I put you on ignore for a while. Wait, I have always had you on ignore.
What is up, you say.
OK, I've spent the last year working about 85 hours a week with two other trader/analyst types and a hardcore programmer, one of the most respected at TradeStation. I had to take a break for several weeks in the summer as my youngest son was hospitalized and diagnosed Type 1 Diabetes. We've all adjusted and he's doing great.
Anyway, we developed a fully automated trading system, 2 actually, for the futures market. Actually, 2 versions of the same system. A scalper for people to run from their own computers, and a bigger target/stop daytrading system that we launched at several brokers in November, and added another this month. So it is currently avaialable at the 3 largest future brokers in the world and close to being fully subscribed. The scalper we have "sold" almost as many as we want to as we don't want to oversaturate the market with our own orders.
Performance has been good, especially on the monthly lease system at the brokers. Top performing ES daytrading system at the brokers over the past three months. So that's about it. Now, hoping a hedgie buys out our systems and then just probably go back to doing nothing .... meaning trading stox.
Oh, and coached my diabetic son and his grades flag football team to the league championship which was fun. First time our school had won it in 15 years.
Buzz
And more importantly, when exactly was it you DIDN'T do something that was supid as hell????
And when exactly was it you DID look spiffy????
Beat ridiculously low expectations when "beating" was already priced in. P/E for s and p is historically too high, especially factoring in what most analysts believe will be an 8% growth year.
Here's the problem. The market goes up in cycles. First, inst's buy. Then funds. Then retail and fund inflows. Then correct, then start over.
However, this time inst's bot, then funds ..... only there's no retail buying to finish the cycle, there has been an outflow to funds, so they have no cash. Lowest cash in funds in something like 20 years. So there's nobody left to buy, cause retail has said fuck you to wall street and not added to their funds, and 401K contributions have dropped dramatically as people have lowered their annual contributions to stay liquid. Then add in Fed reverse repo's, so a liquidity drain by the fed, and you got no one to catch the falling knife.
So who knows, but a test of the 200 day sma at around 9500 would seem likely.
Buzz