Reading this blog and the comments posted it is clear that there are many people with a very strong bearish outlook on the market. Tim, I am relatively new to trading and I want to learn as much as possible about the markets. It is fascinating. And although there are a countless number of web sites, blog etc. out there it is hard to know as a beginner which ones are credible. Can you suggest a source I can go to to learn more about overall market sentiment. For example how did you arrive at the bearish stance you have? Is it bu the technical study of the charts or is it from a macro economic study or a combination. Sorry to be so heavy on such a boring day but I thought perhaps now you may have some time on your hands.
I'm considering bailing out of my XAU puts. I'm slightly positive, but I'm looking at an ascending triangle near its apex.
The positive is that a bullish formation in gold may signal tightening by the Fed in September (or at least when they don't, people may actually wake up to the recession of '07).
If there is a breakout here, I'm going way long on gold. I know that is counter to the Knight position, but though I see your H&S, it seems to refuse to break, and a bullish triangle is forming. What do ya'll think?
HRB H & R Block expects to report provision for losses related to increase in loan repurchases (22.79 -0.01)
Co announced that it expects to record a provision for losses of $102.1 mln (after-tax amount of $61.3 mln or 19 cents per share) reflecting an increase to the estimated recourse liability recorded by Option One Mortgage Corp for loan repurchases and premium recapture reserves. The expected provision includes $46.1 mln related to loans sold during the quarter ended July 31 and an increase of $56.0 mln related to loans sold in previous quarters.
The housing /mortgage finance bubble is imploding in front off our eyes. Yet the market still trades on fantasies of a soft landing. The denial is sickening.
Tim Knight founded Prophet.net, considered by Forbes and Barrons to be the #1 technical analysis site (sold in early 2005 to INVESTools, where he is the SVP of Technology now). Tim has been trading actively since 1987 and focuses mostly on option positions. He is a dyed-in-the-wool technician, leaning heavily on marked-up charts for his analysis. The contents of this blog are NOT to be considered investment advice, and you should know Tim may or may not have positions in the securities mentioned here.
19 comments:
Hey Tim, I want one, where do I get it
Thats so funny! One of my buddies whose family biz is to make stickers like that one. (plus many other, semi-thought provoking) types of stickers...
I got mine in a comic book store - bought out their whole stock for my crew. I did a search so here ya go: http://tinyurl.com/zqr5v
Cooool!
Awesome! I must have one! =)
Every worry about that Dell exploding, Tim?
After the usual early morning flurry, the market seems to have gone to sleep today.
This morning wins the record for boring. My GOD is dull. Zzzzzzzzzzzzzz..........
DO something!
haha, pb, you must be mistaking it for an apple.
Watch dem batteries!
and yet, surprisingly the stock remains resiliant.
But thats because the hardware is amazing - yes I am biased. I like my mac.
hey Tim, dell??? Didn't you have a history with Apple? Interesting...
Even if the markets are putting most of us to sleep at least were getting a few chuckles from this blog. Perhaps we'll see more actin on Monday
Watch out for the afternoon pumps around 1 - 1:30! But its Friday, so maybe we'll see some pre-weekend selling near the close.
Reading this blog and the comments posted it is clear that there are many people with a very strong bearish outlook on the market. Tim, I am relatively new to trading and I want to learn as much as possible about the markets. It is fascinating. And although there are a countless number of web sites, blog etc. out there it is hard to know as a beginner which ones are credible. Can you suggest a source I can go to to learn more about overall market sentiment. For example how did you arrive at the bearish stance you have? Is it bu the technical study of the charts or is it from a macro economic study or a combination. Sorry to be so heavy on such a boring day but I thought perhaps now you may have some time on your hands.
Huh? I'm sorry, are the markets open today?
I'm considering bailing out of my XAU puts. I'm slightly positive, but I'm looking at an ascending triangle near its apex.
The positive is that a bullish formation in gold may signal tightening by the Fed in September (or at least when they don't, people may actually wake up to the recession of '07).
If there is a breakout here, I'm going way long on gold. I know that is counter to the Knight position, but though I see your H&S, it seems to refuse to break, and a bullish triangle is forming. What do ya'll think?
HRB H & R Block expects to report provision for losses related to increase in loan repurchases (22.79 -0.01)
Co announced that it expects to record a provision for losses of $102.1 mln (after-tax amount of $61.3 mln or 19 cents per share) reflecting an increase to the estimated recourse liability recorded by Option One Mortgage Corp for loan repurchases and premium recapture reserves. The expected provision includes $46.1 mln related to loans sold during the quarter ended July 31 and an increase of $56.0 mln related to loans sold in previous quarters.
The housing /mortgage finance bubble is imploding in front off our eyes. Yet the market still trades on fantasies of a soft landing. The denial is sickening.
costas1966
Usual afternoon pump. Yawn.
I think they want to close the market green today.
Or maybe not. The pumping seem to be tapering off.
This week had been brutal.
I hope next week will bring some joy for bears.
bear in pain
Tim's main computer is definitely an Apple. He just won't ugly it up with a sticker, no matter how cool the sticker is. With a Dell, who cares?
Re: Gold.
Don't buy gold stocks, buy the gold ETF or just physical gold itself.
The upper trendline is getting lower and lower every day. I think it's around $645 now. Once gold breaks that level, look out above.
Just my opinion, of course. But if gold does break out to the upside, I'm basically putting all I have into it.
-Tony
Post a Comment