Corepuncher's Account Talk

[Corepuncher]

I'm just not sure about F, even with stocks going down.

The chart is still bearish.

I was a bit surprised to see the market down so much this morning with no apparent catalyst...unless initial unemployment claims was it. Continued benefits up again with no signs of slowing down. Thinking about it further, I see the dollar is up strong. That could be it. Really hurts our exports, and thus it's contribution to GDP.

If I had any chance of manipulating the market here, I think I would try to short the crap out of it and push it down to new lows. We're at 810's...the magical "804" is very near and the charts suggest we are breaking down. Maybe the charts are the reason we are going down...sort of capitulating to the fact that we're heading down. Tough call on whether we continue down ALL DAY, or level off and/or have a small end of day bounce. I think there is a better chance that we are down more either Friday or Monday. No low today.

Stimulus bill cut homebuyer credit from 15K to 8K. That isn't helping anything.

I don't think I'm going to buy quite yet, although it is tempting.

 

[350zCommTech]

I'm just not sure about F, even with stocks going down.

The chart is still bearish.

I was a bit surprised to see the market down so much this morning with no apparent catalyst...unless initial unemployment claims was it. Continued benefits up again with no signs of slowing down. Thinking about it further, I see the dollar is up strong. That could be it. Really hurts our exports, and thus it's contribution to GDP.

If I had any chance of manipulating the market here, I think I would try to short the crap out of it and push it down to new lows. We're at 810's...the magical "804" is very near and the charts suggest we are breaking down. Maybe the charts are the reason we are going down...sort of capitulating to the fact that we're heading down. Tough call on whether we continue down ALL DAY, or level off and/or have a small end of day bounce. I think there is a better chance that we are down more either Friday or Monday. No low today.

Stimulus bill cut homebuyer credit from 15K to 8K. That isn't helping anything.

I don't think I'm going to buy quite yet, although it is tempting.

Bond yields are flat while SPX is down 2%. This is not good for the F fund for tomorrow. Bond yields trying to bounce on the 20dma. SPX broke down and out of the triangle but a kiss back of the bottom is expected, which could hurt the F fund.

The F fund is on a short term uptrend and this is just some of the pain I talked about. With our IFT limit, I'm forced to sit through it.


Btw, looks like that kiss back might happen today.

 

[Corepuncher]

Rick Santelli just said the 30 year T bill auction was a disaster...the FED has to pay a higher interest rate than expected. Yields are spiking as a result of that news, which is bad for the F fund.

 

[350zCommTech]

Rick Santelli just said the 30 year T bill auction was a disaster...the FED has to pay a higher interest rate than expected. Yields are spiking as a result of that news, which is bad for the F fund.

Yup....

 

[mojo]

Invest in a piniata factory and have them produce Geithner piniatas 24/7.

 

[JTH]

Yup....

Bummer... :worried:

 

[350zCommTech]

Bummer... :worried:

So far, the F fund is down just a half a penny. Just a minor bump. It had been up for 3 straight days.

 

[Corepuncher]

Head and shoulders patten forming intraday...we just made right shoulder with high at 821...suggests if we hit 815 we are going to 805 before close.

Time: 2:25 eastern, level 819.

 

[mojo]

Head and shoulders patten forming intraday...we just made right shoulder with high at 821...suggests if we hit 815 we are going to 805 before close.

Time: 2:25 eastern, level 819.

My guess this morning was below 800... and here we go?

 

[Steadygain]

Rick Santelli just said the 30 year T bill auction was a disaster...the FED has to pay a higher interest rate than expected. Yields are spiking as a result of that news, which is bad for the F fund.

IMO the G Fund is going to be seen as the Greatest of All in the foreseeable future - but it's cool because C/S/I are already super deals and in the LONG RUN whatever prices we get this summer won't be seen for quite awhile to come.

F Fund had an excellent run

 

[350zCommTech]

F Fund had an excellent run

What do you mean, had?

Dude, go back in your Garage. The F fund is up again today.

 

[Gumby]

Head and shoulders patten forming intraday...we just made right shoulder with high at 821...suggests if we hit 815 we are going to 805 before close.

Time: 2:25 eastern, level 819.

S&P Hit 808 and then jumped to 820 in about 10 minutes. Government plunge protection team at work buying index funds with your tax dollars? Something is not right here. They started buying like there is no tomorrow.....could it be? Tell me the US in not manipulating markets now.

 

[Steadygain]

What do you mean, had?

Dude, go back in your Garage. The F fund is up again today.

I'm including TODAY

Probably misread CP's - thought he was saying it won't last :embarrest:

.... much longer

 

[Corepuncher]

The "Jump" seems to have occurred when CNBC broke a news story about the gov. getting principal balances down on houses that are underwater.

Whatever...bounce away...I'm not buying today.

Touched the lower Bollinger band today on the S&P. We all know what that probably means...

We have no faith in our government and the treasury secretary. That is not good...being that the government IS our economy right now!! LOL! :laugh:

I thought there would be a good chance at a bounce at the end today. A better buying opportunity awaits, probably within days.

 

[Steadygain]

Tell me the US in not manipulating markets now.

I have honestly wondered the exact same thing

 

[Birchtree]

The Obama administration is talking about subsidizing the welfare check so the at risk can continue to make their mortgage payment. Way to go....to solve the housing crisis on the backs of the productive.

 

[350zCommTech]

The "Jump" seems to have occurred when CNBC broke a news story about the gov. getting principal balances down on houses that are underwater.

Whatever...bounce away...I'm not buying today.

Touched the lower Bollinger band today on the S&P. We all know what that probably means...

We have no faith in our government and the treasury secretary. That is not good...being that the government IS our economy right now!! LOL! :laugh:

I thought there would be a good chance at a bounce at the end today. A better buying opportunity awaits, probably within days.

I love how the news came out a few minutes after the bond market closed and just as the SPX was entering oversold on the intra-day. They probably killed a lot of folks that shorted the hole a few minutes before.

 

[350zCommTech]

I love how the news came out a few minutes after the bond market closed and just as the SPX was entering oversold on the intra-day. They probably killed a lot of folks that shorted the hole a few minutes before.

Furthermore, doing this will cost a lot of money. How are they going to pay for this? What about the folks that are not quite underwater and have been paying their mortgages?

This was pure market intervention, stick save, BS.

 

[felixthecat]

Bailing out mortgages that are in trouble...what about us folks who have not lived above are means? Way to go government, steal from the rest of us to give to those who should have never even gotten these loans in the first place.

Stock manipulation as well. Shameful and disgusting to try and hold up and train that should have wrecked weeks ago.

 

[Birchtree]

This will ruin my chances to collect a C fund price under $9.55 for tomorrow - dang it I can't never catch a break.