coolhand's Account Talk

[crws]

Tomorrow - and at least next week - will be a very odd time. How will da'Boyz react?

Interesting times, huh Boghie?

I've never messed up an IFT, but I can see how easy it might be to do it. Especially as my short term memory continues to shorten. :cheesy:

I'm wondering just what inside info S&P has, considering they peddled all the MBS & CDS garbage as AAA rated.
Do they know the banks are even more insolvent than the cash cows QE1 & QE2 can resolve?
Hmmm...
Perhaps an early Monday morning subpoena would persuade some birdies to sing...
oh... that's right - TBTF!
Silly me, what am I thinking.

 

[nnuut]

Your acronyms are killin' me?

 

[coolhand]

Asia, Europe to ‘Stick It Out’ With Treasuries

http://www.bloomberg.com/news/2011-...-set-to-stick-it-out-with-u-s-treasuries.html

Trichet Draws ECB ‘Bazooka’ as Italy, Spain Debt Purchases Begin

http://www.bloomberg.com/news/2011-08-07/trichet-draws-ecb-bazooka-to-stem-contagion.html

Bank Bond Risk Drops From Record as ECB Moves to Save Lenders: Euro Credit

http://www.bloomberg.com/news/2011-...is-threatens-more-writedowns-euro-credit.html

AAA Rated France May Be Vulnerable to Downgrade Following Cut to the U.S.

http://www.bloomberg.com/news/2011-...e-to-downgrade-following-cut-to-the-u-s-.html

S&P-Induced Selloff in U.S. Bonds, Dollar May Be Short-Lived, Dealers Say

http://www.bloomberg.com/news/2011-...s-selloff-may-be-short-lived-dealers-say.html

Muni Market Prepares for Loss of AAA Ratings as S&P Downgrades U.S. Credit

http://www.bloomberg.com/news/2011-...aaa-ratings-as-s-p-downgrades-u-s-credit.html

China Stocks Tumble, Dragging Shanghai Index Down 20% From High

http://www.businessweek.com/news/20...ragging-shanghai-index-down-20-from-high.html

Oil Tumbles to Trade Near Eight-Month Low After S&P Downgrades U.S. Rating

http://www.bloomberg.com/news/2011-...-s-p-downgrade-on-u-s-brent-future-falls.html

Geithner Tells Obama He Will Remain as Treasury Secretary

http://www.tsptalk.com/mb/showthread.php?6317-coolhand-s-Account-Talk

Greenspan Expects Stocks to Resume Decline Following S&P U.S. Rating Cut

http://www.bloomberg.com/news/2011-...ke-a-while-to-bottom-out-u-s-bonds-safe-.html

Record Cash Shows S&P 500 Finances Beat U.S. After Rating Falls

http://www.businessweek.com/news/20...500-finances-beat-u-s-after-rating-falls.html

G7: Committed to Ensure Liquidity, Support Markets

http://www.cnbc.com/id/44053382

Was the downgrade a rejection of ObamaCare?

http://www.tsptalk.com/mb/showthread.php?6317-coolhand-s-Account-Talk

1 in 3 chance of further U.S. downgrade: S&P's Chambers

http://www.reuters.com/article/2011/08/07/us-crisis-usa-chambers-idUSTRE7761C420110807

Debt crisis: Is this the end for the euro?

http://www.telegraph.co.uk/finance/...Debt-crisis-Is-this-the-end-for-the-euro.html

EU debt crisis: We must give these continental emperors underwear, at least

http://www.telegraph.co.uk/news/wor...-continental-emperors-underwear-at-least.html

 

[coolhand]

S&P Cuts AAA Muni Ratings Following U.S. Credit Downgrade

http://www.sfgate.com/cgi-bin/artic...-2OV8P8HT8IQ90PSTLM9S6DO4P2.DTL#ixzz1UWtPg7VC

Gold Tops Record $1,770 as Investors Seek Haven from Share, Commodity Rout

http://www.bloomberg.com/news/2011-...s-equity-oil-rout-spurs-demand-for-haven.html

Crude Oil Heads for Biggest Two-Day Decline Since 2009: Brent Below $100

http://www.bloomberg.com/news/2011-...e-commodities-after-u-s-rating-downgrade.html

Bank Stocks Plunge Most Since 2009

http://www.bloomberg.com/news/2011-...-plunge-since-2009-led-by-bofa-citigroup.html

A Preview Of Tuesday's Huge Fed Meeting

http://www.businessinsider.com/a-preview-of-tuesdays-huge-fed-meeting-2011-8

China Economists See Big Risks From US Downgrade

http://www.cnbc.com/id/44067147

Senate panel reviewing S&P downgrade

http://www.reuters.com/article/2011/08/08/us-usa-debt-congress-idUSTRE7775UO20110808

 

[coolhand]

Some comments from Mark Young. He's looking for a rally at any time. It could be a big one too. But be aware, he's speaking to much shorter term traders in general, so you have to adjust the context to fit our TSP restrictions.

http://www.traders-talk.com/mb2/index.php?showtopic=133194

 

[Happy_Trails]

Some comments from Mark Young. He's looking for a rally at any time. It could be a big one too. But be aware, he's speaking to much shorter term traders in general, so you have to adjust the context to fit our TSP restrictions.

http://www.traders-talk.com/mb2/index.php?showtopic=133194

Hi Coolhand,

Who is Mark Young? I am not familiar with him. Also, did the 7 Sentinels guru provide an update after yesterday's action?

Thanks, I appreciate your updates!

 

[coolhand]

He runs the Trader's Talk website and has his own sentiment analysis service. He's very sharp, but like everyone else, isn't always right. Still, he's a professional and I always like to hear what he has to say.

Don hasn't posted anything substantial since my last link to his comments. He also has his own premium service, so he tends to hand out commentary sparingly.

Hi Coolhand,

Who is Mark Young? I am not familiar with him. Also, did the 7 Sentinels guru provide an update after yesterday's action?

Thanks, I appreciate your updates!

 

[coolhand]

In essence, we have the sentiment and set-up for a big rally. That's what me and Tom, and some others have been looking for. If it doesn't fall apart, it could go longer than some realize. Be aware of how this "may" play out.

 

[coolhand]

Bernanke Time Commitment Provokes Most Dissents Since 1992

http://www.businessweek.com/news/20...itment-provokes-most-dissents-since-1992.html

Company Pension Underfunding Jumps 38% to $351 Billion as Economy Slows

http://www.bloomberg.com/news/2011-...s-by-97-billion-as-economic-growth-slows.html

California Risks ‘Drastic’ Budget Cuts as Receipts Miss Forecast

http://www.businessweek.com/news/20...ic-budget-cuts-as-receipts-miss-forecast.html

Japan’s Noda Signals Concern as Yen Strengthens to Near Intervention Level

http://www.bloomberg.com/news/2011-...n-strengthens-to-near-intervention-level.html

El-Erian: Unprecedented Fed to the Rescue

http://classic.cnbc.com/id/44083077

Obama Plans Scorched Earth Re-Election Campaign

http://www.businessinsider.com/obama-plans-scorched-earth-re-election-campaign-2011-8

The Price Of A Big Mac Is Now $17.19 In Zurich

http://www.zerohedge.com/news/price-big-mac-now-1719-zurich

Pessimistic Bernanke Fed Admits QE Has Failed In FOMC Statement

http://blogs.forbes.com/afontevecch...nke-and-fomc-practically-admit-qe-has-failed/

WOLF: Obamacare or America?

http://www.washingtontimes.com/news/2011/aug/8/obamacare-or-america/

London tense as riots spread to new UK towns

http://www.dnaindia.com/world/report_riots-spread-to-three-more-cities-in-britain_1574066

 

[coolhand]

Tremonti to Present New Austerity Plan as Unions Threaten General Strike

http://www.bloomberg.com/news/2011-...y-plan-as-unions-threaten-general-strike.html

SocGen Denies Credit Rumors, Demands Probe

http://www.bloomberg.com/news/2011-...ench-banks-as-credit-default-swaps-climb.html

Central Bankers Race to Protect Growth in 72 Hours of Crisis

http://www.bloomberg.com/news/2011-...come-tower-of-strength-amid-debt-turmoil.html

Gold May Extend Record Rally Above $1,800

http://www.bloomberg.com/news/2011-...rs-seek-to-hold-the-ultimate-collateral-.html

Ford Says It’s Feeling ‘Pricing Pressure’ as China Market Slows

http://www.bloomberg.com/news/2011-...g-pricing-pressure-as-china-market-slows.html

Australia Jobless Rate Unexpectedly Rises; Traders Increase Rate-Cut Bets

http://www.bloomberg.com/news/2011-...ost-since-october-2010-currency-declines.html

America as Less Than No. 1

http://online.wsj.com/article/SB100...40323097396.html?mod=WSJ_hps_sections_opinion

Obamacare Bombshell: Did the Government Underestimate the Costs of PPACA's Exchanges by Hundreds of Billions?

http://www.forbes.com/sites/aroy/20...-of-ppacas-exchanges-by-hundreds-of-billions/

In U.S. Stress Tests, a Tool to Gauge Contagion in Europe

http://dealbook.nytimes.com/2011/08...ol-to-gauge-contagion-in-europe/?ref=business

Economic woes offer awkward backdrop for Obama's vacation

http://www.usatoday.com/news/washin...ion-marthas-vineyard-economy_n.htm?csp=34news

French president Nicolas Sarkozy gathers ministry to battle possible credit downgrade

http://www.dailytelegraph.com.au/bu...credit-downgrade/story-e6frez7r-1226112851113

 

[coolhand]

Some thoughts from a pro (Mark Young) this morning...

http://www.traders-talk.com/mb2/index.php?showtopic=133283

 

[Happy_Trails]

Some thoughts from a pro (Mark Young) this morning...

http://www.traders-talk.com/mb2/index.php?showtopic=133283

Just read your blog - interesting that he noted the sentiment problem as well. It is surprising to me how bullish it is to althouth I voted bullish early today myself. At the time, it was only 34% bulls and 60% bears. Today's rally has everyone thinking positive again I guess.

 

[coolhand]

It probably means the upside will be tempered and it could take that much longer to establish a longer term low. That's partially why I'm only looking out about 2 weeks max. If I see a selling opportunity along the way, I'll be selling.

Actually, if I had known how the markets would close today, I would have taken something off the table. I think most of us realize how hard it's going to be to lock in any gains in this market. We could just as easily snatch defeat from the jaws of victory with that 1200 deadline.

 

[coolhand]

Short Selling of Stocks Banned in France, Spain, Italy, Belgium

http://www.bloomberg.com/news/2011-...-short-sales-to-halt-rout-in-bank-shares.html

Growth Forecasts for U.S. Reduced Through 2013 on Limited Employment Gains

http://www.bloomberg.com/news/2011-...through-2013-on-limited-employment-gains.html

U.S. Companies Poised for Third-Highest Rate of Annual Buybacks

http://www.businessweek.com/news/20...or-third-highest-rate-of-annual-buybacks.html

Bank of America Credit-Default Swaps Lead Surge in Lender Risk

http://www.businessweek.com/news/20...-default-swaps-lead-surge-in-lender-risk.html

Oil Set for Third Weekly Drop as Financial-Market Swings Threaten Recovery

http://www.bloomberg.com/news/2011-...-in-new-york-first-decline-in-three-days.html

High-Frequency Firms Triple Trades in Rout

http://www.bloomberg.com/news/2011-...ading-as-s-p-500-plunged-13-wedbush-says.html

Behind Its Lectures, China Is a Sinner Too

http://www.cnbc.com/id/44113659

Genetically-Engineered T Cells Raise Hope For Big Cancer Breakthrough

http://www.businessinsider.com/desi...ls-becomes-possible-cure-2011-8#ixzz1UoIgbW6Y

SEC To Investigate Trades Based On S&P Downgrade Inside Information

http://www.zerohedge.com/news/sec-investigate-trades-based-sp-downgrade-inside-information

Postal Service proposes cutting 120,000 jobs, pulling out of health-care plan

http://www.washingtonpost.com/polit...th-care-plan/2011/08/11/gIQAZxIM9I_story.html

Italy turns on the 'parasites on society' in tax clampdown

http://www.telegraph.co.uk/finance/...he-parasites-on-society-in-tax-clampdown.html

 

[coolhand]

Futures Higher As Europe Bans Short-Selling

http://www.cnbc.com/id/44117270

They jumped on this news too...

Retail Sales Rise 0.5%, The Biggest Gain Since March

http://www.cnbc.com/id/44117974

 

[coolhand]

I feel like a cat on a hot tin roof, but I'm holding my 100% position into Monday. The short term still looks bullish to me.

 

[Birchtree]

There was a trader that came on TV last night and said he wouldn't be surprised to see a 700 or 800 point rally that would rip hearts out of the chests of bears - I almost fell off my couch with glee.

 

[Warrenlm]

Right after, Gerald Celente and Peter Schiff offered their views so the audience had a clear view of the future.

 

[Nordic]

I feel like a cat on a hot tin roof, but I'm holding my 100% position into Monday. The short term still looks bullish to me.

Getting closer to a short term exit point, do you have a target in mind?

 

[coolhand]

Once the S&P 500 clears 1200, I'll be thinking about doing some selling. But this market could shoot much higher than that. I'm only looking out to about mid-week next week. And the picture changes fast, so it's really day to day depending on the what the market does. And even thought the Seven Sentinels remain firmly on an intermediate term sell, they still look short term bullish.

Getting closer to a short term exit point, do you have a target in mind?