Corepuncher's Account Talk

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Corepuncher said:
Naw, think its a rotting bull corpse.

Ansana, Sanelli and that new British guy just had a great argument...hopefully there will be a vid clip so0n.
Click to expand...

Was afraid you'd say something like that :rolleyes:

Now for the next 4 or 5 trading days -- your home will get invaded by everyone under the sun .... saying a bunch of stuff...

You should start every morning really early with a post that says:

Please respect my Home --- Bearish Sentiments ONLY

That would keep a lot of the noise down .. :p ... anyway good night
 
I still believe this action is nothing more than a harmless correction. Take the SPX to 1035 and be done with it. I celebrate fear and panic and today was ripe.
 
Today was all about fear and emotion from the hedge funds acting in concert. They are fond of doing this type of selling. In 2008 we had over 1500 of them go out of business - maybe it's time a few more hit the dust. Anyway there is no money in cash - so they will be back to buy in cheaper - be ready for the upside ride. Mom and pop are still on the sidelines so they won't be adding their two cents of panic like back in Jan-Feb '09. Tomorrow could be a very pleasant surprise because the economy is improving and people are going back to work.
 
Birchtree said:
Today was all about fear and emotion from the hedge funds acting in concert. They are fond of doing this type of selling. In 2008 we had over 1500 of them go out of business - maybe it's time a few more hit the dust. Anyway there is no money in cash - so they will be back to buy in cheaper - be ready for the upside ride. Mom and pop are still on the sidelines so they won't be adding their two cents of panic like back in Jan-Feb '09. Tomorrow could be a very pleasant surprise because the economy is improving and people are going back to work.
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Well I hope SO cuz come Monday I will be in the F fund, at least if the market continues to tank - as investors run to bonds maybe I can make a little of my money back . :suspicious: - but I will be back in Stocks sooner or later!
 
FAB1 said:
Well I hope SO cuz come Monday I will be in the F fund, at least if the market continues to tank - as investors run to bonds maybe I can make a little of my money back . :suspicious: - but I will be back in Stocks sooner or later!
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I am scared of the F fund...it's a major bubble and who knows when it will bust. Could certainly be good short term though.
 
Birchtree said:
I still believe this action is nothing more than a harmless correction. Take the SPX to 1035 and be done with it. I celebrate fear and panic and today was ripe.
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I wouldn't be surprised to test 1000 if we hit 1035 since the market always tends to go further than you think. But everyone is looking for 1035...which makes me think either we will not get there (maybe stagnant around 1040-1050 for a few days before a snapback rally) or we will blow through it.
 
Today could be a day where peope come in early to try to get a bounce, but exit before the close, resulting in another down day. Everyone on TV is talking about the 10% correction and not wanting to go long on a Friday, etc etc...which makes me think it's about time to get in. Last two down Fridays were followed by up Monday's. Yet, I don't think this story has played out, and it's early in the month. Thus, I'd be loathe to buy in today.
 
Corepuncher said:
I wouldn't be surprised to test 1000 if we hit 1035 since the market always tends to go further than you think. But everyone is looking for 1035...which makes me think either we will not get there (maybe stagnant around 1040-1050 for a few days before a snapback rally) or we will blow through it.
Click to expand...

My thoughts exactly.
 
Corepuncher said:
Today could be a day where peope come in early to try to get a bounce, but exit before the close, resulting in another down day.
Click to expand...

Have to say -- this is actually pretty close

You caught the right drift .... but the wrong message


Turns out the Bulls have been busy the past few days loading up the Rocket Fuel .. so I'll hope for the best.

I'm glad you're back Corepuncher --- but where's 12% ???
 
In spite of a slew of ostensibly bearish technical set ups, the equities markets have so far refused to sell off into the 200 EMA. I think the NYSE AD MCO may have presented us with a positive divergence - just needs to close above -114. If the SPX does close below 1030 I'll listen to your bearish talk about a bear market instead of a pullback.
 
The market is trading on the dollar right now. It's almost a tick for tick inverse relationship. After a several day rally for the dollar, it took a dip today before ending flat. I see this as a rest for the dollar, before an upward resumption. Art Cashin was saying the other day the DOW could go down 1000 pts in a single day should the dollar really shoot up/unwind. Be on your guard.

Looking at 1030s for a bounce...but if we get that low 1000 may be in play. It would be perfect to dip below 1000, take out stops and then rocket back up. This could happen either if the dollar keeps going up or not...only a "bounce" if the former, or a rally resumption if the latter.
 
Birchtree said:
In spite of a slew of ostensibly bearish technical set ups, the equities markets have so far refused to sell off into the 200 EMA. I think the NYSE AD MCO may have presented us with a positive divergence - just needs to close above -114. If the SPX does close below 1030 I'll listen to your bearish talk about a bear market instead of a pullback.
Click to expand...


SPX is only holding the 200 EMA because of the dollar strength, and then only barely. The EFA has sold off to near/below the 200 SMA, and showed no break in the pattern today. Buying in now is like burning toast; nobody is going to believe there is a recovery unless and until there is jobs growth; and that isn't going to happen on a dime. And then there's all those trash home loans; people walking away in droves (who shouldn't have owned to begin with) this coming summer. None of this is on the verge of an overnight solution.
 
F fund chart is ugly. In the absence of a hard market correction, I would stay away. Actually, I would stay away no matter what. More downside risk than is necessary, when compared to 100% safety of G.
 
Corepuncher said:
F fund chart is ugly. In the absence of a hard market correction, I would stay away. Actually, I would stay away no matter what. More downside risk than is necessary, when compared to 100% safety of G.
Click to expand...

http://money.cnn.com/2010/02/11/markets/premarkets/index.htm

Markets are poised for a GOOD Start

The upside risk, or High Risk, appears to have a mind of its own. ;)




I expect substantial gains today :D:D - not because I live in fear on the Lilly Pad .....

..but because I confidently leave 100% in High Risk



Anyway it's a new adventure for me -- and I'm enjoying the freedom to simply let things go wherever more and more :toung:


Well I'm way behind -- with a full plate as well --- so won't be around much

GL to all
 
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