coolhand's Account Talk

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I'm trying to determine if you are being facetious this morning - I'll say yes knowing how conservative you are in your strategies. Will you be buying today?
 
coolhand said:
I hear ya...I'm looking for some more articles right now. :laugh:
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The SKY IS FALLING!!!!!

if 1.80 holds it keeps the survey in the S. Also, $tran is just in the midst of BULL flagging and the low it puts in this afternoon is a good dip buyers point... probably when the 30 minute candles tag the lower bollinger.
 
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Did you notice on the AT how many IFT buys there were when the markets were green and how many went into cap preservation when it was red? I'm guessing the survey will remain in a buy... only Tom knows the final tally!
 
crws said:
not sure if I agree. If you use the S&P closing price of May 7- 1110 it comes back at 9%. Topping might be a stretch. I'm still thinking more like a Jan-Feb move to test 1110.
Who knows, really!
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I don't support that analysis either. I posted it kinda as a joke about keeping our sentiment survey in bullish territory. But those bearish comments are just about everywhere and have been for along time. ;)
 
This situation is going to continue to scare people. I don't think we can drop too far as there is a perception now that shorting the Euro is high risk due to CB intervention. Not sure how much longer this pressure can continue or how much impact it could have on equities knowing the CBs can step in at any time.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKwWG2f8eTtE

The euro headed for a fourth weekly decline, breaking through the 14-month low reached against the dollar last week, on concern European nations’ debt-cutting measures will undermine economic growth.

The 16-nation currency touched the lowest in a week versus the yen before Greece submits a progress report tomorrow to the European Commission on the implementation of a deficit-reduction plan. New Zealand’s dollar was set for a second weekly loss against the greenback after government data showed retail sales rose in March at less than half the pace economists forecast.

“The roots of the debt crisis in Europe have yet to be solved,” said Yoh Nihei, a Tokyo-based trading group manager at Tokai Tokyo Securities Co. “People have reservations about the effectiveness of the loan package. I remain negative on the euro from a long-term perspective.”
 
http://www.businessweek.com/news/20...en-still-possible-after-bailout-btm-says.html

Europe’s unprecedented lending package to debt-ridden nations hasn’t eliminated the chance of a new financial crisis, which may drive the yen to 80 versus the dollar and euro, according to Bank of Tokyo-Mitsubishi UFJ Ltd.

There remains a 10 percent chance of renewed turmoil, said Kazuto Uchida, chief economist at the unit of Japan’s largest banking group, Mitsubishi UFJ Financial Group Inc. Under this scenario, the credit ratings of Spain and Italy would be cut to near junk level, with losses spreading to banks in Germany, France and the U.K.

“Europe’s economy would contract as much as 5 percent, and the global economy would suffer negative growth over the next two to three years,” Uchida said.
 
http://www.zerohedge.com/article/wh...wap-detachment-rule-would-weaken-financial-sy

Now that legislation to spin off swap trading desk from commercial banks is picking up steam it is time to roll in the big money printers. In a letter to one of his lame duck minions, i.e., Chris Dodd, Bernanke said that daring to change the status quo in any way would like destabilize the system and who knows what would result. In other words: not only in swap-related legislation, but in any proposed rule, such as that long forgotten thing which Barack Obama was parading on national TV 24/7 for about a month known as the Volcker Rule, which seeks to take away from bank revenues, Bernanke will step in and say that even though the proposed rule will make the system safer it will really make it that much more prone to "weakness" (don't think about it too hard - it's so complicated only the Fed and Goldman Sachs understand the vast implications of that statement). Of course, weakness, is simply another word for less than record taxpayer funded annual bonuses. As Bloomberg reports, in his letter, Bernanke says the proposed law “would weaken both financial stability and strong prudential regulation of derivative activities.” In other words: make sure my banking buddies can continue to rob the middle class blind, or else. Expect another market crash just so Bernanke can prove his point.
 
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