Tuesday, October 17, 2006

Late Post Tonight

I'm heading up to the Money Show in SF right now, so I don't have time to do my post until late tonight. In the meantime, grab yourself a fruit cocktail, sit back, and enjoy:


Sanjay Sola said...

what a hilarious video! was that a real commercial?

Andrew M. said...

We want Toshi
We want Toshi!


AT said...

Wow! A 90 point drop in the morning nearly evaporating in the afternoon. This is not even a correction, just a shadow on one day's candle in a series going almost straight up.

Judging by the cheerleaders on CNBC this morning, you would have thought someone had spoiled their party.

The market won't fall till the Fed keeps pouring liquidity in. Here's an article showing how many billions the Fed is injecting in the system through its Open Market Operations (OMO) almost every day


With the Fed propping up the market, you can't win by going short. All fundamental and technical analyses will fail because the whole system is being manipulated. Stay in cash or take up some cautious long positions. Lets see if things return to normalcy after the elections.

AT said...

In fact, you can read it directly on the Fed's own website.


No conspiracy theory here. The Fed is injecting money into the system, increasing liquidity, and propelling the markets higher. Helicopter Ben at his best.

Why they are doing it is left to the imagination of the reader.

PB said...

All fine and dandy, but wouldn't the fx markets or at least gold account for this by selling USD?

-Clueless in Seattle!

Sanjay Sola said...

market is getting ready to plummet.

we have a 4:1 ratio of stocks that are overbought to oversold now.

ctkwtk said...

I know I mentioned it before on plane crash day, but does anyone find it peculiar that mid-day bottoms on qqqq, iwm, and spy all occurred @ 11:56/57 and all afternoon tops occurred @ EXACTLY 15:31 PM. If the markets are being manipulated, dont't you think they would at least use a little imagination. I mean small caps (iwm) and large caps (spy) and (ndx) stocks are different animals, aren't they?

Dougo said...

Plummet....what a nice sounding word. Plummmmeeeettttt....neat
All the crazy (insane) north american charts have really been getting me down. Had a look at the Nikkei 225 tonight and it made me feel a bit better. For some reason (I think we know why) foriegn market charts make more 'sense' right now.

EddieFl said...

**********CHEECH and CHONG and the stock market**********************

"its like the more I smoke, well you know, the more I smoke"...Nice Dreams.

Like the market, the higher it goes , the higher it goes. Momentum begets momentums. The longer this rally lasted, the more indicators turned positve on the weekly charts and that brought in more money.

These ass-clown fund managers or hedge funds, dont want to explain to thier investors, how they missed one of the best bull market rallies in years. So they get in, it seems late in the trend, but to them it isnt, they just got in.

All indicators say sell or overbought, but the best indicator of them all PRICE ACTION, says buy or stay long if you already bought.

You can stand firm on your opinion or you can increase your account balance, usually the two dont go hand in hand.

PB said...

gimme a break! What is this rush to buy?? It looks like the big bad wolf is coming and everyone wants to hide in stocks! It's sickening! I thought this non-sense would have ran it's course by now ... but we keep finding retards that keep buying!

plunger said...

small weak rising wedge in the daily S&P forming, price is weak but MA's are heading for a break. at the top of trendline now and should( repeat, should, not will,) see some downside action. confirmation of wedge pattern break could lead to @ 50 point drop pretty quick, also would put back @ 20d MA.
only an opinion tho, all my technicals have'nt been working well lately.

its your money, do your own h\w

bsi87 said...

re:Markets. Last couple weeks have helped my accounts immensely. MEE, CVS, TIE, et al. Gotta buy 'em when they're puking and the RSI's are 30 across the board. Bought YHOO last couple days as IMHO, GOOG is beloved by too many and YHOO was universely hated.

re:TLT. The VTI:TLT ratio is extreme. On a retracement to 87 or so, I'll be buying bonds.

re:SLV. Bearish engulfing, back to the bottom of the range.

re:OIH. Shorted some more 2 days ago as the 130-132 area looked like the top of the range. Shoulda closed at 118, probably close around 120. There is an outside chance it breaks below 118. 115 would be ST support. JMO.

There are many,many opportunities everyday in the mkts esp with ETFs and other vehicles. Have to be alert and look beyond the traditional.

Do your own homework


PB said...

guys! ... I just went long and 5 mins later ... a package of free crack arrived!!! YUMM!!!

downosedive said...

Oh pb - shame on you! Whatever next?

EddieFl said...

HEy everybody , I just went short this morning. !!!,

10 minutes later, MR. T shows up at my door and bitch slapped me, and said "dont you ever go short fool, I pity the fool who go short on a major uptrend and try to call the top everyday,, I pity the fool"!!! ,, and then some guy in a suit handed me a margin call slip.

Strange morning.

bsi87 said...


buy stop limit 24.21/24.27

do your h/w.

bsi87 said...


RSI bottoming. Long at 41.20. Stop limit at 39.10/39

Sanjay Sola said...

i can no longer watch CNBC. i'm at the end of the line watching that garbage. the commentators are furiously pumping 12,000 to get ratings. one trader they pulled aside, said he didn't care about 12,000. the CNBC analyst looked shocked and ignored him then went back to talking about whether we could hit the number today. Painful!

PB said...

Cramer says the bottom on YHOO is around $21 ... he also says the DOW could easily drop 500 points or so! HE's MY HERO!!!

bsi87 said...


At these levels, it's a low risk speculation. ATR is .79 so one could put a trailing sell at 1.5 to 2X the ATR. If Kosmo was so d-mn good, why didn't he rec a short at 34 bucks?

The pair trade is long YHOO and short GOOG. Note that GOOG hasn't been able to reach anywhere near its HOD when the Youtube acquisition was announced.

I'm alway early on my entries and I feel like puking so my YHOO long is about right. LOL.


PB said...

well, Creamer also said GM was a buy at $40!

Anyways, looks like da' bulls are outta breath here ... time to take a pause! DOWN DOW!