coolhand's Account Talk

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Lest anyone forget, today is options expiration, so the action is in large part a response to that fact, although the weakness could bleed over into next week.
 
coolhand said:
Lest anyone forget, today is options expiration, so the action is in large part a response to that fact, although the weakness could bleed over into next week.
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Yep... looks like BPCOMPQ will be the only sentinel still on a buy.

... or, then again, 4 o'clock charlie could hit his mark.

OT: Did you see a 29 year-old Goldman exec got the chief enforcement job at the SEC? I'll bet he's a young maverick that's gonna clean things up, eh? :rolleyes:
 
Minnow said:
Yep... looks like BPCOMPQ will be the only sentinel still on a buy.

... or, then again, 4 o'clock charlie could hit his mark.

OT: Did you see a 29 year-old Goldman exec got the chief enforcement job at the SEC? I'll bet he's a young maverick that's gonna clean things up, eh? :rolleyes:
Click to expand...

I wonder if he is all paid up on his taxes!?
 
Minnow said:
Yep... looks like BPCOMPQ will be the only sentinel still on a buy.

Depends on how we close.

... or, then again, 4 o'clock charlie could hit his mark.

Think that may be in progress. :D
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GS and SEC. Talk about an insider. How much more overt can we get? :rolleyes:
 
Yellow flashing light ahead at the intersection.

At the close we've got 5 Distribution days in the DJIA, 4 in the Nasdaq.
 
Bullitt said:
Yellow flashing light ahead at the intersection.

At the close we've got 5 Distribution days in the DJIA, 4 in the Nasdaq.
Click to expand...

Didn't this happen about a month ago too? Normally, I'd be more concerned (and not that you don't have my radar up), but I'm wondering if IBD has been having trouble with this market like other systems.
 
We may get a 10% or better correction if we can't get past the 61.8% fib level of 1222 - perhaps sometime in December. That would be cool. But I think we will exceed this key retracement level and rally into March 2010. Then I'll lay down on the tracks. History has shown that November has been the best performing month for the SPX, on average, since the early 1950's. We are fortunately in the early stages of a multi-year up move.
 
Birchtree said:
We may get a 10% or better correction if we can't get past the 61.8% fib level of 1222 - perhaps sometime in December. That would be cool. But I think we will exceed this key retracement level and rally into March 2010. Then I'll lay down on the tracks. History has shown that November has been the best performing month for the SPX, on average, since the early 1950's. We are fortunately in the early stages of a multi-year up move.
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I hope that's true, but it's tough to buy into a positive long term economic outlook (2-3 years) with unemployment continuing to show significant weakness and federal debt levels exploding.
 
FYI, I will be posting a blog today, but probably not till early this evening. Just in case you were wondering. ;)
 
I'm waiting for it, but I gotta say that I'm not too crazy about having to go to the blogs to read your (anyone's) important posts. Seems it would be a lot more efficient if I could just read your comments here.

Is the blogosphere on TSP Talk dead anyway? Seems like only a few are making regular entries there.
 
turbo23dog said:
I'm waiting for it, but I gotta say that I'm not too crazy about having to go to the blogs to read your (anyone's) important posts. Seems it would be a lot more efficient if I could just read your comments here.

Is the blogosphere on TSP Talk dead anyway? Seems like only a few are making regular entries there.
Click to expand...

I post on most days except perhaps weekends. But I don't understand why you think going to a blog is more difficult than an account thread? They're listed right at the top of the MB in chronological order. That's a whole lot easier than wading through the account threads, and even that's not a big deal.

Your NFL team isn't losing today is it? :D
 
coolhand said:
But I don't understand why you think going to a blog is more difficult than an account thread? They're listed right at the top of the MB in chronological order. That's a whole lot easier than wading through the account threads, and even that's not a big deal.
Click to expand...
Or just click on "My Blog" in Coolhand's signature, and Boom! - you'll be taken right to his latest blog post.
 
I had expected to see weakness bleed over into Monday, but such was not the case. As I'd mentioned in my blog, OPEX has a tendency to distort the true market action. Dollar must be taking another beating today, I fund is up big, and C and S are playing catch up. Looks to be another great day in the stock market. Sentiment took a big hit in some pockets. Bulls retreated, which is probably why we're moving higher again.
 
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