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We just seen the worst January in the history of the SPX.
Japan is not having a good night...well if the news I'm getting on their tech companies is any sign, they are hurting big time. Layoffs in Japan!!!:blink: Check NEC and Sony and a couple other of the big players in the financial or tech news.
Japan is not having a good night...well if the news I'm getting on their tech companies is any sign, they are hurting big time. Layoffs in Japan!!!:blink: Check NEC and Sony and a couple other of the big players in the financial or tech news.
You must be looking at last night's numbers, since it's Saturday in Japan right now.
Looks like a bearish close to me. NDX closed below the 50 but still in the triangle is the only caution for bears.
Lets see what sticksave they can pull out of their ass Sunday night/monday morning.
SPX 860 is the first test. If that is not taken out they may rush back into bonds for the weekend.
Also RSI +70 can last for weeks. It is when RSI gets closer to 90 when you are pretty safe to say it is time to get out of dodge or short it.
It's been bleeding down and trying my patience. Bonds don't seem to have snap back rallies like stocks. The AGG reached strong support today so I'd say it needs to bounce here and now or I will have to stop the bleeding. (Would that be a great overly bearish buy signal or what? )I'm just looking for a short term pop in the F fund.
It's been bleeding down and trying my patience. Bonds don't seem to have snap back rallies like stocks. The AGG reached strong support today so I'd say it needs to bounce here and now or I will have to stop the bleeding. (Would that be a great overly bearish buy signal or what? )
I'm also in the same boat. Hoping for a quick rally in bond prices. Though the prefect storm would be to have bond yields move down to the 20dma and the S&P fall to 800 level. I do not want to waste a move into the G. I need to move from the F into stocks. However, right now I just don't see a move from F into stocks. This month may become a bad month for me.
Not sure if bonds selling off is just a "fad" (short bonds as seen on TV) or if it will accelerate.
'Bad Bank' Is Dropped From Financial-Rescue Package
By: Albert Bozzo, Senior Features Editor | 09 Feb 2009 | 04:30 PM ET
The Obama administration’s wide-ranging plan to stabilize the financial system no longer includes creating a "bad bank" but will still contain measures to encourage private firms to buy up toxic assets from financial institutions, according to a source familiar with the plan.
In addition, funding for the bank-rescue plan is unlikely to exceed the $350 billion currently available under the TARP, this source said.
“They have to have enough to calm the markets, but there might not be as many details as previously thought,” he said.
A Treasury Department source said the plan was essentially complete with only minor “tweaks” being applied. The package will be unveiled Tuesday by Treasury Secretary Timothy Geithner at 11 am EST. CNBC.com will carry the speech live.
CNBC will also interview Geithner after the speech at 12 Noon EST. It will be his first television interview since becoming Treasury Secretary
There’s been great speculation in recent days about both the measures and terms involved in the bank-rescue plan. In particular, there’s been great uncertainty about the inclusion of the "bad bank" concept, where the government would set up an aggregate bank and buy up billions of dollars of bad debt from banks......http://www.cnbc.com/id/29104178
The F fund might have lost a penny today. I still think it's close to a temporary bottom, if not there already.