Corepuncher's Account Talk

[Corepuncher]

A rally from extreme oversold conditions, as expected. Patience for lower prices will be rewarded. Bring on red October!

 

[Birchtree]

If we are perhaps at the end of the current bear market - how much can the market go up in the next eight trading days?

 

[nsurf9]

CP, the fact is ... there will be no bottom until real estate finds a bottom.

 

[nsurf9]

CP, the fact is ... there will be no bottom until real estate finds a bottom. Can the government withstand, or handle, the wave of RE deflation?!

 

[Steadygain]

If we are perhaps at the end of the current bear market - how much can the market go up in the next eight trading days?

Sorry CP - but CONGRATULATIONS Birch... this is the first time I remember you even considering 'we are in a bear market'

As for the next 8 days.....

Friday has the potiential to go up 4.82% Maximum
Monday has the same potiential - but if it reaches 4.82%
Tuesday can not go further than 3.17% the next day
Wen. and Thur - would then go up 0.4% and 0.9% Maximum
Friday - however could reach 1.3% Maximum

Monday - would now go up to 2.35% Maximum
Tuesday could only reach 0.87% if that happened.

OK - that's the Maximum Possible for the next 8 days.

Any other questions will be deferred to CP.

 

[Braveheart]

If we are perhaps at the end of the current bear market - how much can the market go up in the next eight trading days?

Don't be fooled State Street Bank is next on the list to go and look at their price last I saw it $57 and if there is even a remote sell off tomorrw on this bank we do have FDIC friday so someone will go under.

Tomorrow could be a good day and we should know early if the market isn't up by 200 points before 11 AM EST after such a good day today then it will be a down day. Any more bailout B.S. we will drop like a rock.

 

[Braveheart]

Sorry CP - but CONGRATULATIONS Birch... this is the first time I remember you even considering 'we are in a bear market'

As for the next 8 days.....

Friday has the potiential to go up 4.82% Maximum
Monday has the same potiential - but if it reaches 4.82%
Tuesday can not go further than 3.17% the next day
Wen. and Thur - would then go up 0.4% and 0.9% Maximum
Friday - however could reach 1.3% Maximum

Monday - would now go up to 2.35% Maximum
Tuesday could only reach 0.87% if that happened.

OK - that's the Maximum Possible for the next 8 days.

Any other questions will be deferred to CP.

Hilarious !!!!!!!!!!!!!!!!!!!!!!!!

 

[Braveheart]

What is up with all these people thinking the bottom is near in housing?

Can anyone please explain this to me:

HOUSING STARTS: 895K
NEW HOME SALES: 515K

Uh...more new homes being built than sold??? Am I reading this right???

New home sales = 3 or 2 family homes turned into Condo Units - LMAO

 

[Silverbird]

Maybe it's they have to finish these houses before the snow falls on them a second time (seriously, some didn't get built last year and the land lay empty in hopes of better news - but you can only do that for so long and good luck selling residental land right now).

 

[Birchtree]

The good news is that bear markets usually don't last as long as bull markets and when they begin to recover, they tend to come back quickly, often within 12 months. So from a strategic standpoint a bear market scenario would give us a faster rebound. A correction of this magnitude would probably require a grinding gain forward - I want the big valley (V) to kick me up the tracker sling shot style. The truck is loaded and ready to roll.

 

[Corepuncher]

There is a historic meeting occurring tonight between Bernanke, Paulson, Congress. They better not screw it up.

Choosing to bail out ALL of Wall Street for being greedy, irresponsible and stupid and putting the tax payer on the hook is just plain un-American. So is restricting short sellers.

What happened to free markets? OMG. The only ray of hope I see is that they have representatives from both sides of the aisle there. I sure hope someone stands up and fights for what is right. LET THE FREE MARKETS WORK. So what if the market gets cut in half...pressures built up and must be released. It's the way it works. No pain no gain...there is NO SUCH THING AS INFINITE GAIN ALL THE TIME!!!

They literally have the potential to wreck America tonight. The American Hedge fund...may buy hundreds of billions of "stuff" that could very well DEPRECIATE and be stuck on the balance sheet for many, many years.

If people around the world lose faith in the credit of America, they will sell treasuries faster than a cat with a firecracker up it's a$$...and rates will soar, sending us spiraling into a depression.

Watch the bond / credit market for direction...stocks are full of dumb money and this rally means nothing. Look...S&P futures are up another 2.4% after hours. However, I also noticed that during the course of watching fast money, gold went from 856 to 897...hmmmmmm??????

 

[Birchtree]

I believe that gold has settled back down $33 on the futures markets - look at Japan. It'll be only eight days of pure unadulterated hell for those of us on the sidelines.

 

[The_Technician]

There is a historic meeting occurring tonight between Bernanke, Paulson, Congress. They better not screw it up.

Choosing to bail out ALL of Wall Street for being greedy, irresponsible and stupid and putting the tax payer on the hook is just plain un-American. So is restricting short sellers.

What happened to free markets? OMG. The only ray of hope I see is that they have representatives from both sides of the aisle there. I sure hope someone stands up and fights for what is right. LET THE FREE MARKETS WORK. So what if the market gets cut in half...pressures built up and must be released. It's the way it works. No pain no gain...there is NO SUCH THING AS INFINITE GAIN ALL THE TIME!!!

They literally have the potential to wreck America tonight. The American Hedge fund...may buy hundreds of billions of "stuff" that could very well DEPRECIATE and be stuck on the balance sheet for many, many years.

If people around the world lose faith in the credit of America, they will sell treasuries faster than a cat with a firecracker up it's a$$...and rates will soar, sending us spiraling into a depression.

Watch the bond / credit market for direction...stocks are full of dumb money and this rally means nothing. Look...S&P futures are up another 2.4% after hours. However, I also noticed that during the course of watching fast money, gold went from 856 to 897...hmmmmmm??????

Personally, I don't think there is anything you can do to stop it....we're in a classical broken country scenario.....they should have not let the conus companies go overseas that recklessly.....it developed an unstable situation economic wise in the world and now they see the perils of it right in front of them....they should have regulated labor costs at home more closely and held on for the long run for virtually no growth economy until more new products could have been developed to put on the market....and the rest of the world been given time to catch up....about 50 years worth.....

How long have I sung this song now.....3-4 years or more.....

 

[Corepuncher]

I believe that gold has settled back down $33 on the futures markets - look at Japan. It'll be only eight days of pure unadulterated hell for those of us on the sidelines.

I don't care if we go up 100 S&P points tomorrow, I'm staying out until we come to our senses. Hedge funds and others will have to liquidate. Also, we are spurring on a recession. The position of the government will be weakened now. Get ready for several years of sideways or down. Enjoy the "feel good" over the next few days, it won't last long.

Welcome to the secular bear market, my friends!

 

[Gumby]

I don't care if we go up 100 S&P points tomorrow, I'm staying out until we come to our senses. Hedge funds and others will have to liquidate. Also, we are spurring on a recession. The position of the government will be weakened now. Get ready for several years of sideways or down. Enjoy the "feel good" over the next few days, it won't last long.

Welcome to the secular bear market, my friends!

I think what you saw today was the typical "Buy the rumor". Monday will be "Sell the news".

The government just can't stay away from Wall Street during an election year. :worried:

 

[Show-me]

I think what you saw today was the typical "Buy the rumor". Monday will be "Sell the news".

The government just can't stay away from Wall Street during an election year. :worried:

Nail on the head, Gumby. They know that if they do not get this market going there will be blood on the streets of D.C. and it will be Republican blood.

There something huge in play here. The Bush legacy. Will he be the first President to have a stock market tank in a election year. I think so.

 

[Steadygain]

I usually talk in terms of C. Honestly...if I was not out of IFT's, I'm sure I would have bought at least 50% by now...Tue or Wed.

Forgive me Father for I have sinned (Steady)

What is it you have done my son (CP):worried:

I sought your advice; determined you're the ONE and even another high authority (JeffATC) was ringing your words are true.

But I did not listen, was afraid to come out of the cave :embarrest:

Steady my son, Red October is comming and with it another opportunity will be offered. But this time you little creep SOB

YOU HAD BETTER HEED MY ADVISE - NOW GET OUT OF HERE PUNK

 

[Corepuncher]

Forgive me Father for I have sinned (Steady)

What is it you have done my son (CP)

I sought your advice; determined you're the ONE and even another high authority (JeffATC) was ringing your words are true.

But I did not listen, was afraid to come out of the cave :embarrest:

Steady my son, Red October is comming and with it another opportunity will be offered. But this time you little creep SOB

YOU HAD BETTER HEED MY ADVISE - NOW GET OUT OF HERE PUNK

LOL...now that's a strange post! I sure am pissed about the IFT limit , I surely would be enjoying this snap back rally. But alas, it is out of my hands. I have no choice but to wait for another opportunity.

But CONGRATULATIONS to anyone who has been riding this thing down, the blow has just been softened. I am very happy for you! (Don't get too greedy

 

[fedgolfer]

CP,

I held but my gut is telling me to stay in the s-fund for at least a little longer. I bought uyg yesterday and thinking for a long term hold. If they've gone this far to rescue financials, I don't see it going below the double bottom area put in at $14 yesterday at least until the dust settles proabaly well after the election (could be a dumb assumption).

When do you think the profit takers will end this rally? Not that its that important to TSP'ers, becuase you'd think buying the gap fill on the s&P at 1211'ish, would be where everyone steps back in... part of me thinks the power that be will not let it get that low before the election.

 

[RonUSPSretired]

I think Tom should have put a selection in the TSP Talk Poll for "All of the above" at fault.