Fedgolfer's Account Talk

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Minnow said:
well... BAC is paying back TARP... I guess that will get that breakout you were looking for.
Click to expand...

Hope you're right, Minnow. Of the $450B in bank specific TARP actually spent, if you include BofA's $45, there will be about 25% of TARP actually repaid.

Not sure if those #'s are accurate... they're pulled off this article...

http://finance.yahoo.com/news/Bank-...7.html?x=0&sec=topStories&pos=1&asset=&ccode=


Lots of econ data out before the open so we can't hang our hat on the futures too much. You'd think the BAC pop could light up at least a small short squeeze on the opening.
 
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Love the morning turn in the dollar trade... sucks in the shorts every time. May the naked shorts burn in hell... seriously they're like communist Grinch dirtbags all rolled into one. I'm glad the central banks are manipulating them.
 
fedgolfer said:
Love the morning turn in the dollar trade... sucks in the shorts every time. May the naked shorts burn in hell... seriously they're like communist Grinch dirtbags all rolled into one. I'm glad the central banks are manipulating them.
Click to expand...

Thanks for that bit of encouragement fedgolfer.;)
Now let's go buy some presents to put under the tree.
Have a holly jolly Christmas.:)
 
mayday said:
Thanks for that bit of encouragement fedgolfer.;)
Now let's go buy some presents to put under the tree.
Have a holly jolly Christmas.:)
Click to expand...

I think I'll buy some short-repellent and put it Birch's stocking, a gag-ball for Meredith Whitney. Mayday, you like fruitcake?

Anyway, for the bulls, let's hope for that confirmation close above 1113/15'ish, that'll put a squash in the recent trading range. Still, with a breakout of that longterm resistance line in the SPX, that line will be retested sometime.

More importantly, anyone have strategy for the exiting of the bearish dollar trade? If gold/bearish dollar trade show continuous bifurcation of the SPX/Euro indices, the I-fund holders better think about jetting. Is today a one day wonder?
 
Bullitt said:
I'm not interpreting this move today as bullish for the US dollar by any means.
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Definitely the smart move. I just posted a note in CH's thread basically saying the same thing... one-day wonder until the charts tell us price has really broken on UDN/UUP or gold. That is, one-day wonder of the countertrend of the dollar jumping up big while in concert with indices.
 
FYI alert gold bugs... GLD just broke out of its skyward measured bull move since the beginning of Nov. Hope Peter Schiff has a way to get Ma&Pa kettle out of a crowded commodity trade. Never follow a fear monger, their intentions aren't altruistic.
 
FWIW... SPY is still in the smack dab middle of the double rail resistance line on the 2 year weekly chart (top-rail from the top shadow of the 10/8/07 candlestick)... this week's candlestick, due to the AM's high, will cause this week's shadow to show a pierce/breakout above it. With the pre/post market activity and where we are on the long term chart, I'm sure this movement is part of the /esz9 forthcoming expiration too... these gap ups and gap downs are making people filthy rich/or poor in the futures. I'll post a chart tonight of where we close... as I posted last week just moving forward in time, even if we stay in this trading range, will show a breakout eventually... and that is ultra-bullish.
 
Mayday, you like fruitcake?

Of course I do I use them for doorstops. I"m in long until Christmas little Billy needs his BB gun so he can shoot his eye out. Little Debbie might eat my fruitcake, but I think she would rather have a Bella Swan and Edward Cullen Barbie doll so she can fantasize of being bitten running fast and drinking blood with the love of her life.

Then again she might eat my doorstop.:D
 
Anyone notice the difference between $tran and IYT today? Using the 3 month/30min or daily, shows price still in triple top on $tran but a breakout for IYT.

Trannies are confused.
 
fedgolfer said:
Anyone notice the difference between $tran and IYT today? Using the 3 month/30min or daily, shows price still in triple top on $tran but a breakout for IYT.

Trannies are confused.
Click to expand...

I say this because its sometimes the opinion that institutional investors act faster in the respective ETF versus the indices/or indicator. Maybe IYT something we reatail folks don't?
 
yawn... technical range bound trading in the SPX, top bollinger turned away the price on the 12/4 candlestick... bottom bollinger will support the price. We're closer to a buying op than a selling one, if you're still playing by bull-market rules (and the moving averages still say so).
 
fedgolfer said:
yawn... technical range bound trading in the SPX, top bollinger turned away the price on the 12/4 candlestick... bottom bollinger will support the price. We're closer to a buying op than a selling one, if you're still playing by bull-market rules (and the moving averages still say so).
Click to expand...

GS also hit its 1year support line... the 2 year chart is showing we could be putting in a base of the right shoulder of an inverted H&S in GS...financials may put in a temporary bottom here, or at least a few select names. XOM is breaking out of its 4 day falling wedge, and GLD and bearish $trade seem to resuming the intermediate term uptrend. Indices should follow, we need a close outside of the sideways range before bears/bulls can claim a real direction.
 
Transports still above support after two failed bear moves below. It looks like the bond rally is running out of gas as evidenced by today's treasury auction. Why let money sit for 1-3 years in a treasury when we just had the biggest November in 8 years? Investors are finally asking, 'What am I doing in bonds when I can make 10 times than bond investment with just one month in the stock market. Besides, so many are investors have been brainwashed by the media regarding the upcoming 'strong seasonality months' it's no wonder they're bailing from the bond market.
 
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