Monday, June 12, 2006

Wheeeeeeeeeeee!

Oh, it is going to be SWEET today, fellow bears. It's a whole new ball game. Lots to say tonight...........Tim

8 comments:

Mike Stone said...

Tim,

I know that the presidential cycle results in a 10% correction every 2nd yr and then every other cycle (which we're in now) results in at least a 20% fall.

A 20% correction for DIA would bring it down to between $92-93.

Using fib retracements what do you think the bottom will be?

John Wheatcroft said...

It is a good time to be short some stocks - no doubt. Are the "bears" in charge? When the weekly INDU hits the 200 day average (about 800 points from here) I'll capitulate. Until then - enjoy the correction.

The daily move is nothing but noise - only the longer term moves count.

Gil said...

Tim... Thanks a million, my CRS
IPS and FLR are all surrending
nicely and thanks to your blog.
I look forward to reading it and
appreciate your time.\
I closed out KBH,BZH,CTX and RYL
I had Jan puts on them and made a
nice load, but I am afraid Bernanke might knuckle under and
ease on the interest in late June
which would cause a substantial
rally in housing stocks...
Gil

muckdog said...

At this point, even if we're in a New Bear Market or the mid-term election year correction, it does seem like we're due for a bounce. I'm thinking tepid inflation data or some statement from the Fed about inflation being contained might be a catalyst.

But... that's just a guess.

stockshaker said...

i think tomorrow will be a huge confirmation day. today all hell broke lose, a lot of major supporting trendlines were broken.

Yesterday I was thinking that a bull bounce was inevitable, but after today, I think the Bear Party which I think was too early is now ready to begin its full swing.

Now its just waiting for some nice put plays to take form, and Im just waiting for the account to explode.

AM I RIGHT PEOPLE?

cristri25 said...

30 minutes and counting...

walter said...

s&p breaks 2-year trendline/support

jockgunter said...

For those of us who have just a COUPLE of short positions on, how do you get in without a bounce? higher risk to short when the trends are SO far down, and so far below moving averages, no? - Jock