coolhand's Account Talk

[WorkFE]

CH,
What's your mindset on end of day market VS. Friday.

 

[coolhand]

CH,
What's your mindset on end of day market VS. Friday.

You mean where do I think the market will be at the close on Friday based on today's close?

 

[WorkFE]

Yes, thoughts on that.

 

[amoeba]

Yes, thoughts on that.

I dunno about CH, but my take on that (friday's C-fund share price,or beyond) is as long as financials earnings hold or beat, anything below 1,220 should be held.

 

[WorkFE]

Thanks amoeba,

The pressure has been building for the past few weeks. IMO it could go either way. this morning did not give enough hint as to direction for me to shave some risk. Obviously in hindsight (with 30 min. remaining) it could have been a safe play. Water under the bridge.
It seems we could go either way depending on the profiteers. Thursdays through the following Mondays have proved to be share builders, hence my question about feelings for this friday.

 

[coolhand]

Thanks amoeba,

The pressure has been building for the past few weeks. IMO it could go either way. this morning did not give enough hint as to direction for me to shave some risk. Obviously in hindsight (with 30 min. remaining) it could have been a safe play. Water under the bridge.
It seems we could go either way depending on the profiteers. Thursdays through the following Mondays have proved to be share builders, hence my question about feelings for this friday.

I can tell you that sell signals have been going off for days now. Not my signals, but some normally reliable ones that I follow. Same thing happened a few weeks ago with failed sells. This is not a market anyone should be shorting unless you're looking to give money away. But this market can be dangerous for the bulls in its own right. If things get too euphoric and bears thin out, we could see a nasty reversal. I think it's coming, but I can only watch the SS for clues and hope they come in a relatively obvious fashion so as not to get caught in a fast dump.

 

[WorkFE]

Thanks CH,

I'll continue to be a pansy (at least for now)
50% in meets my needs but if we do get that 5-10% dump, I will jump on it.

 

[coolhand]

http://www.theage.com.au/business/george-soros-issues-stark-economic-warning-20100415-seyy.html

Railway porter-turned-billionaire financier George Soros has delivered a stark warning that the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis.

 

[coolhand]

http://www.marketwatch.com/story/market-leadership-changing-fund-manager-says-2010-04-14

Mark Coffelt, manager of Empiric Core Equity Fund, said he believes the U.S. stock market has "a long way to go" before the rally is finished, but noted that leadership is changing.

 

[coolhand]

http://money.cnn.com/2010/04/15/news/companies/google_earnings/index.htm

Google posted quarterly sales and profit that trumped Wall Street expectations Thursday, boosted by a rebounding advertising market.

 

[coolhand]

http://money.cnn.com/2010/04/15/smallbusiness/small_business_slow_recovery/index.htm

"Something isn't sitting well with small business owners," Bill Dunkelberg, chief economist of the National Federation of Independent Business, said in a written statement accompanying the latest edition of his organization's monthly "Small Business Optimism" report. "Poor sales and uncertainty continue to overwhelm any other good news about the economy."

 

[coolhand]

Getting some selling pressure now...probably due to this...

http://www.cnbc.com/id/36597289

 

[Elgallo]

Yet another layer of the onion is exposed!!

Somone needs to go to the big house on that one, but Oh NO!

 

[coolhand]

Yet another layer of the onion is exposed!!

Somone needs to go to the big house on that one, but Oh NO!

This was expected. I've heard it from some insiders.

 

[coolhand]

That GS fraud situation could be the catalyst that flips the sentinels over to a sell. If not today, then Monday should follow-through to the downside manifest. Assuming today closes ugly we could see that sell today. But today is also options expiration and that muddies the water.

 

[poolman]

This was expected. I've heard it from some insiders.

There are questions being taken on CNBC now. GS taking a DUMP.

I'm not hearing good things for Monday either.

 

[fedgolfer]

I doubt this GS thing will be prosecuted to the fullest extent unless both sides of the aisle hop on board the execution. Just like the January correction catalyst, this is manipulated by the higher ups. In January, BHO insinuated heads would roll in the big financials... XLF/FAS then fell considerably, only to be bought up by the smart money leading to the huge run-up we just saw. Same thing will happen here, forced selling leading to insider buying without much long term peril to the stock price of the financial sector cohorts. I'm gonna pounce on some FAS if we're lucky enough to get 1150 in the SPX..

If I had cojones I'd buy some GS calls right now.

 

[sdouglas3]

Since GS runs the market and with the news that came out today against them. Does this mean they could keep their little black boxes on sell mode?

Steve :blink:

 

[nnuut]

Everyone knows tha GS knew this was coming and were SHORT before this happened!

 

[Gumby]

This was expected. I've heard it from some insiders.

Makes one wonder how much advance notice GS insiders and traders had to short GS stock prior to today.
I am sure their trading desk still made the average 100mil profit or more today.