coolhand's Account Talk

[eccougar]

I give you a lot of credit Coolhand, whether you are in the markets or in the G-Fund, you always keep posting your informative links. Taking the time to post the links and articles are much appreciated.

 

[coolhand]

I have to agree with Art Cashin here. The dollar is another indicator to keep an eye on. A pronounced move higher would probably kill this up-leg. Right now the dollar seems to be at a critical juncture. I'm still watching the SS very closely. We are down to two buy signals, but futures are pointing moderately higher. We may have another blast coming. If it's convincing, it may very well extend this rally longer than some might think. As I've said in the past day or two, top pickers and bears are back to posting on the MBs after being relatively quiet as the market shot higher.

http://www.cnbc.com/id/32204463

 

[coolhand]

While we may be due (overdue) for a pullback, the underlying strength in this market continues to impress, so any pullback without volume should probably be bought. Intermediate Term indicators favor longs. The real selling may not occur for some time yet. Weeks or even months. SS will probably strengthen its buy position as internals appear to be improving with this new push higher.

 

[fedgolfer]

... CNBC gave another great contrarian indicator yesterday afternoon. They had Santelli, Najarian and two other quacks saying that you'd be an idiot not to sell at the close yesterday because of the the 5 year auction and today's 7 year. They were 4 for 4 in agreeing to sell at yesterday's close. I immediately bought some UYG. Unrelated, I love the head room on the upper Bollingers in the main indexes.

 

[fedgolfer]

CH,

You think the S&P hitting the upper bollinger on the weekly chart is a short term sell signal? It's almost there. Conversely, the 1007 is such an obvious reisistance point that it may blow through that too.

 

[coolhand]

CH,

You think the S&P hitting the upper bollinger on the weekly chart is a short term sell signal? It's almost there. Conversely, the 1007 is such an obvious reisistance point that it may blow through that too.

Sentiment trumps technicals right now. The market's making a statement. It's very tough to be a buyer here, and that's probably what da boyz want. Cash isn't making chit and the buy-in premium is going up quickly. The emotion of being out of the market is ratcheting up very quickly. SPX 1200 may very well be in the cards in the next couple of months. I'm holding my IT position now until the SS really starts to weaken and/or volume to the downside finally comes in.

 

[fedgolfer]

Sentiment trumps technicals right now. The market's making a statement. It's very tough to be a buyer here, and that's probably what da boyz want. Cash isn't making chit and the buy-in premium is going up quickly. The emotion of being out of the market is ratcheting up very quickly. SPX 1200 may very well be in the cards in the next couple of months. I'm holding my IT position now until the SS really starts to weaken and/or volume to the downside finally comes in.

Thanks, Coolhand. Appreciate those that share there thoughts on this board!

 

[nasa1974]

Sentiment trumps technicals right now. The market's making a statement. It's very tough to be a buyer here, and that's probably what da boyz want. Cash isn't making chit and the buy-in premium is going up quickly. The emotion of being out of the market is ratcheting up very quickly. SPX 1200 may very well be in the cards in the next couple of months. I'm holding my IT position now until the SS really starts to weaken and/or volume to the downside finally comes in.

CH,

I agree on the sentiment (and emotion) trumping technicals right now. Sure looks like 1000 is the focus. Tomorrow will be a really indicator for the near future, is 1200 the target zone. When the market starts it's fall it will be quick and steep. We will need to keep our finger on the trigger. Good Luck to all.

 

[Birchtree]

With $16 trillion looking for comfort this market may not provide an entry point for the rest of the year. Now is the time to hold your nose and close your eyes and jump into the pool. We are definitely going much, much higher. Sorry to break that bad, awful news.

 

[DakotaKid]

I've been offline for the last few days....today is my first day back. So much for my hope that the world would tank while I was gone. It's becoming very, very difficult to remain on the sidelines during all of this. Keeping the faith....

 

[Birchtree]

You'll need more than faith - this market because it is so perfidious requires courage. Especially if you want to make money.

 

[turbo23dog]

Thanks CH....

 

[coolhand]

http://business.theatlantic.com/2009/07/mark-to-market_is_back_--_with_a_vengeance.php

 

[coolhand]

http://online.barrons.com/article/SB124890475390291527.html

 

[coolhand]

Ahh, the advice of a professional. I wonder how much he's lost on margin in the past two months alone. I think it's time he learned the SS system of trading.

I can't argue with that.

http://www.cnbc.com/id/32237004

 

[coolhand]

This has got to be a contrarian indicator.

 

[Bullitt]

I have no idea what to make of it, but I think publicly listed insider buying is a bit overrated. I'd really like to know what call or put options the company insiders are telling their brother in law to buy on the side.

 

[Birchtree]

Only a few fools are rushing into this bull market and that's classic - it's just the way it's supposed to happen. But when the herd decides to move in unison the wave will lift all boats including my oceanic and tugboat. I've waited a long time for this exact moment in time to exercise some potential - so I'll continue to run in front of the train defying all odds of failure.

 

[Bullitt]

More on media disinformation. Remember when every headline was saying, "Roubini Calls an End to the Recession"? I think the media inserted that on a day we were up like 1.5% or so. The Thought Police at it once again....

Roubini's side of the story:

“It has been widely reported today that I have stated that the recession will be over 'this year' and that I have 'improved' my economic outlook. Despite those reports - however – my views expressed today are no different than the views I have expressed previously. If anything my views were taken out of context.

“I have said on numerous occasions that the recession would last roughly 24 months. Therefore, we are 19 months into that recession. If, as I predicted, the recession is over by the end of the year, it will have lasted 24 months with a recovery only beginning in 2010. Simply put I am not forecasting economic growth before year’s end.

http://www.rgemonitor.com/roubini-monitor/257299/roubini_statement_on_the_us_economic_outlook

 

[coolhand]

http://www.decisionpoint.com/ChartSpotliteFiles/090731_pb.html