Bear Cave 2 (Bull Allowed)

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robo

robo

Well-known member
Friday, July 30, 2010

"It’s not the strongest of the species (think “traders”) that survive, nor the most intelligent, but the one most responsive to change."

—Charles Darwin 6th Best July Since Great Depression

By Jeffrey A. Hirsch

July 2010 was hot for the market and the Dow Jones Industrial Average posted its sixth best performance since 1940. But stocks have cooled off over the last few days. With the major equity indices unable to breakthrough resistance we fear the precarious summer rally is in jeopardy.

http://blog.stocktradersalmanac.com/
 
As you all know, I like trading around events.
This week we have the U.S. non-farm payrolls and jobless rate.
Outside of Monday's first day of the month move, the job numbers are the only event worth trading this week.
The above charts gets me very excited that we may see a major move that can be played.
What worries me is that this move will be to the down side and a lot of "Not Pros" have gotten sucked back into long positions in the market over the July earnings-endorsed rally.
I will be watching the market very closely tomorrow (Thursday, August 5, 2010) going into the close to see what the "Pros" are doing in front of Friday's job number.

--Author anonymous, "Basically Sound", FastAttackTrades.com, August 4, 2010.
 
Thursday, August 5, 2010
No Conviction

The market has traded in an extremely tight range since Monday afternoon. I would not be going out on a limb by saying we should expand that range tomorrow. I don't have a very strong feel on the market and wish I could offer more in the way of an opinion.

http://capitalobserver.blogspot.com/
 
Thursday’s Trading – 8/5/2010
August 4th, 2010 Strong Breadth
Remember this chart that I posted in Breadth Breakout on July 22nd? (click chart to enlarge):


Clueless Kudlow
At the beginning of his CNBC show on Wednesday night, Larry Kudlow asked: “Big business is making big money, but why aren’t they creating jobs?” Kudlow doesn’t understand the very system that he advocates: wide-open free trade. Corporate America is creating jobs in places like China, India, and Mexico. As a matter of fact, Whirlpool recently sent 1,100 refrigerator-making jobs from Indiana to Mexico. What’s the problem, Kudlow? Everything is going according to plan – your dumb jobs-exporting plan.

http://www.trivisonno.com/
 
The ECRI Weekly Leading Index
August 6, 2010 weekly update

The Latest WLI Decline

The question, of course, is whether the latest WLI decline is a leading indicator of a recession or a false negative. The index has never dropped to the current level without the onset of a recession. The deepest decline without a near-term recession was in the Crash of 1987, when the index slipped to -6.8.



http://dshort.com/articles/ECRI-Weekly-Leading-Index.html
 
Retirement? You Must Be Kidding. Workers Are Emptying
Retirement Plans To Stay Afloat.

By Susie Madrak Sunday Aug 01, 2010 7:00am
This is why we should not only not cut Social Security, we should expand it. The workers who relied on 401Ks have finally figured out why companies were so happy to have them replace pension plans, and anyone who has a public pension plan better get ready as deficit hawks attack:
http://crooksandliars.com/susie-madrak/retirement-you-must-be-kidding-worker
 
I wish robo would tell us how he really feels. (robo, go ahead and swing for the fences. I've got your back)
 
Up next is - "Easy Money Monday" and the week before the month’s options expirations week, which tends to be negative, but I don't trade on this data.

Market Condition: Overbought

Robo

Comments: August 6, 2010,

Current position Long: 50% Rydex NDX 2x Fund for Monday. The private sector added less jobs than expected knocking the market down in the morning. Goldman Sachs added fuel to the decline by revising downward their estimate for GDP growth in 2011. Did Goldman make money from their comments? Does Goldman trade stocks? In any event the market mostly recovered by the end of the day similar to Thursday's action. The Fed rate announcement will be on Tuesday 2:15 PM ET. Our signal is a partial "long". Please pick up your free password so you can read about our longer-term forecast, and download the free "T" index software.

http://www.stocmarket.com/commentp.htm


"Exhilaration is that feeling you get just after a great idea hits you and
just before you realize what's wrong with it."

- Joe Moore

You do things when the opportunities come along.

I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells.

If I get an idea next week, I'll do something.

If not, I won't do a damn thing.
--Warren Buffett
 
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