Phoenix
Greetings from the land of perpetual 100 degree heat. Phoenix. I just spoke to a large group here today, and I'm at the airport. And you know what that means........ that's right, a very late posting!
In the meantime, you might want to check out MyBlogLog, which is the widget I've added to this site showing the most recent readers and for which you need to sign up in order to participate. It doesn't cost anything, and it's an interesting way to connect with others. My web skills are pretty limited, so I need to figure it out how to get it on the sidebar instead of dominating the top of the blog!
I'll post (much) later tonight........
16 comments:
Tim,
I am a Bear at heart and always getting beat up on by my Bull friends. Always wanting the Bears to represent themselves with dignity, I come here to find a hunter, a guy who drinks beer, a dozer, a dog that looks more like a cat and a cat that looks like a bunny! What a sad bunch.
A little from dbohntr's profile:
"I reside in California and have been working for various mortgage banks over the last 14 years. I tried investing in 2000 and 2001, but without a system, I failed. As the real estate market slowed, I have had more time to get an education with Investools. I have a wonderful family that supports me."
ROTFLMAO
Best,
He who drinks brew.
dbohntr is a perfect example of a dumba%^ bear who continues to lose his a$% in the market because he came late in 99-01 and reads to many tell all investing books. Investools will take your money for you. Buy the market and make money you fools.
HWDB,
since I am the hunter, I was taking a poke at all of us and our silly names. Glad you were interested in my profile.
dumbass,(eric)
Investools is Tim's employer and they gave me an education that I was happy to pay for. I only own two books about the market, Tim's, and the Encylcopedia of chart patterns. I am actually smarter than the average bear because I trade with the trend.
Are you always a prick, or just this one time?
My bad - peace.
If you guys are done insulting each other, let's talk about the market. I have to admit that I am more than a bit dumbfounded by today's market action. Just when you think those bulls have run out of ammo, they find yet another bullet or two for their gun. You certainly can't outthink this market, because that will get you into real trouble - I choose to just react and let it do it's thing - as Mark Douglas says, you only need to know what YOU are going to do, in reaction to the market.
Take today for example, some mixed economic data, but perhaps overall more negative than not (of course, depending on their mood, the bulls seem to see bad as good, bad as bad, good as bad, etc. - you get the picture).
Eddie Lampbert, Carl Icahn - they have had their share of success, and screwups too. How does the revelation of what they have been buying (notice I said "have been", as you can be pretty sure their positions are well built before they become public knowledge) translate to jumping on the train 100 meters before it reaches the station? I.E. there will be a healthy correction, and the more johnny-come-latelys keep showing up with devalued, fast cash in hand, buying DOW stocks, sending it up parabolically, the harder it is gonna fall, when it does.
I jumped into puts on the SPX late in the day on the 10th, when it had clealy broken it's sharply ascending trendline on very decent volume. Seems I was premature, and have a 30% loss to show for it. I bought a couple months out, because the volatility was low, and did not pay that much for time value. Well, if the SPX manages to close back above that trendline, and resume it's insane uptrend, who am I to argue - I'll wait for the next pullback and ride it up some more. You can't tell people how to spend their money - even if they are idiots. Still think the best way to be long in this market is to take some profits now, come back in a couple of months and scoop up what looks good after the correction (and there WILL be a correction).
NOK has been on a roll this week and with options we are up big ..the market defied the chartists and melted up but tommorow into Monday could get ugly . Bracing for a hurting on the DOW but the broader market will not get hit as bad in this correction .
http://www.ttthedgefund.blogspot.com
Tom
Certainly perplexing... I went from lamenting the fact that more AKAM puts evaded my price target this morning to being glad they did by this afternoon. Wacky.
This market will correct when the commercial players start selling and not before. Seems like they have been buying pretty heavily lately which just happens to coincide with an extremly bullish COT signal. Who Knew? I don't consider myself a bull or a bear. I try to leave my bias at home when it comes to the markets. Any who would like to learn about the COT feel free to visit my blog. It really hurts me to see people constantly on the wrong side of the market because they can't let go of their bias. Remember Jesse Livermore said there is no short side or long side there is only the right side.
Permabears don't stand a chance in this market. 1.5 months countdown before the bull stampede arrives.
"Permabears don't stand a chance in this market. 1.5 months countdown before the bull stampede arrives."
Provide the logic underlying that conclusion, please.
i got into akam puts because it was testing a neckline...crazy, now its a hammer....and what is up with a beautiful shooting star yesterday on the merkets and then continuing in its uptrend today. so the question i have is, why IS the market going up? obviously peole are buying, but why. the market doesn't go up by itself, so why are people buying it up? we just had earnings season, that would be fuel for the fire since they were better than expected, most financial reports are mixed with negativity, and everybody i talk to expects the market to go down. this does not make sense. should it make sense? is their information that people have that i do not that, if I were to have I would be buying it up as well?
btw, i like the new title of your blog, tim
b.healed,
Sure there is information that us little guys don't have. That's why I follow the COT report. It shows you what the big money is doing. These are players that can buy the best information available and have hundreds of anaylsts sifting thru the data. We're talking institutions that invest multibillions of dollars. Do you think these players leave anything to chance? Do you really think these players risk billions by looking at a trend line drawn on a chart? I want to know what they're doing and I want to follow behind them not stand in front of them. I definitely don't want to let my personal bias influence how I invest, especially if it's telling me to go against these players.
Bhealed.... if there's an explanation, this might be one clue.
The headline is misleading. Read the story... BOJ is not going to raise rates, therefore "carry" on.
DUSA the next DNDN???
to $30?
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