Gumby's Account Talk

[Gumby]

Tracker Ranking
99 Gumby-16.24 %-1.50
100 Skooby-16.53 %-1.80
101 PF_chart_C-16.57 %0.01
102 Show-me-16.85 %0.29

Show-me,

I am going to catch you yet. I think I have hit the numbing threshold:worried:.
Ouch.

Looks like retirement has been postponed indefinitely. I will always remember Sept and October of 2008 when I receive my 50 year service pin from the USAR. Not familiar with that term? That is the new name for America. The United Socialist American Republic. :blink:

 

[Show-me]

This has been the year from hell. IFT limits, subprime, flood, hurricane, inflation, war, bail outs, failures,......... Anybody got some pestilence? A good bird flu strain.

 

[Birchtree]

The small blessing is that 2009 will be much healthier with all the mess out of the way. The correction in housing needed to happen and the credit bulge will resolve. Heck, 97% of our great population are still making their mortgage payments, their car payments and credit card payments. Some of you are still supporting your mistress - so the world has yet to end. I'll be back to buying stock on Monday - I can't stay away when these prices are so tantalizing. This could be one hell of a rocket booster ride up.

 

[Gumby]

View attachment 4794View attachment 4795


Just looking at some P&F charts and trying to decide if there is any resemblance of past events.

On October 3, 2008, the P&F shows a triple bottom breakdown. $SPX closed at 1099 on Friday. The bearish objective is 990 or about another 10% fall.

Six years ago on October 4, 2002, there was another triple bottom breakdown at the bottom of the last recession at the closing of 800 on the $SPX. The bearish price objective was 715...again about another 10% predicted fall. The market did bottom in October 2002 but stayed well obove the bearish price objective.

My gut feeling tells me that we are not at the bottom of this cycle since there has been to many manipulations by the government. Since 2002 was not an election year with the rush to bailout the taxpayers do you think there will be a similar bottoming this October or are we going at least another 10% lower?

I think we may get an election bounce......but it will be shorted if the government does not ban all short selling.

 

[Gumby]

This market is enough to make a person dizzy.

TSP holding 85C, 15S.....still waiting on the bounce:worried:

Trading account Bought UYG $13.75

Looking at shorting SDS....just haven't pulled the trigger.

 

[Gumby]

Looks like the F fund is tanking today...down 1.33%. Is the bailout news affecting the bond market?:blink:

 

[Show-me]

This market is enough to make a person dizzy.

TSP holding 85C, 15S.....still waiting on the bounce:worried:

Trading account Bought UYG $13.75

Looking at shorting SDS....just haven't pulled the trigger.

You lucky dog on UYG, I'm out of bullets.

 

[Gumby]

Short SDS @ $85.00 Come on Rally Monkey!

 

[Gumby]

Short SDS @ $85.00 Come on Rally Monkey!

Rally Monkey is in reverse... looks like we are going to smash through yesterday's low this afternoon. Thanks Comrade Ben.

No doubt he is saving the rate cut until just before the election.:blink:

 

[Gumby]

S&P 500 smashed through 1000 right before the close. Closed @ ~ 996.37 waiting on final tick

Trading account.....Bought more UYG @ $11.90.

Black Monday and now Black Tuesday....Are we going to hit bottom??????

 

[Gumby]

AGG.... F Fund is getting smashed..........I don't remember ever seeing a downward move like that.



IShares Lehman Aggregate Bond Fund AGG:NYSE Arca
89.08

-5.81 -6.12% :worried::worried:

 

[Gumby]

All I can say about todays action is WOW......that was what I was saying about the action last Friday when the market was tanking.

This market action has to be tremendously frustrating to the people that tried to IFT into the market on Friday and found that the FRTIB computer system took a dump.

Also, equally as frustrating would be the HUGE upside in todays action and the inability to not IFT back to the lilly pad due to the Holiday. With a computerized and automated stystem, why is it that a person could not IFT today back to safety?????? Why does FRTIB have to wait for the close of tomorrow's business?

I guess tomorrow will bring a new day and maybe we won't give up to much of the giant upward move today.

Congratulation to all that were in the market today......especially if you were one of the few that got to IFT in on Friday.

 

[Gumby]

Looks like another volitile day


U.S. stock futures sharply lower after data wave

NEW YORK (MarketWatch) -- U.S. stock futures pointed to another sharp opening fall on Wednesday after economic data proved generally dismal, erasing optimism on better-than-forecast results from the Coca-Cola Co., Intel Corp. and J.P. Morgan Chase.


"Retail sales were worse than expected, core PPI was hotter than forecast, and the Empire State Index outcome was fairly ugly," said analysts at Action Economics.

Full Story

 

[Gumby]

I thought GROUNDHOG day was in February.:nuts:

Is this Friday Redux??

S&P 500 Index $SPX:Market Data Express
Sector: N/A Industry: N/A
907.66

-90.35 -9.05%51,961,416

Gumby sez.......Thank you Mr. Bernake for your words of wisdom today!

 

[Silverbird]

It's the bungee cord, market is definately overreacting to every little thing.

 

[Gumby]

S&P500 is getting hit hard again today.

With S&P 500 at 869.11 at 11:17 EST the fund is down 4.27% today.
Yesterday (10/15/08) closing price was $10.4196

$10.4196 - 10.4196(4.27%) = $9.9747......5 years of gains have evaporated.

If we don't get a wave of buying this PM....S&P may take out 840.:worried::worried:

 

[turbo23dog]

If we don't get a wave of buying this PM....S&P may take out 840.:worried::worried:

As of now we're back in the green. I'm not reading much into this, but there's gotta be a sping back somewhere along this rollercoaster.

 

[Gumby]

As of now we're back in the green. I'm not reading much into this, but there's gotta be a sping back somewhere along this rollercoaster.

Yes, its not a linear ride up or down. The last hour of the day has been the most volitile in movement of the market.

 

[Gumby]

Matt has been calling the shots on this bear market quite well.

I check his Blog everyday.
Matt's Blog


768.67 - Coming Soon to a Screen Near You

October 15th, 2008
… a screen about 18 inches in front of your face that is. 768.67 was the S&P 500 intra-day low on October 10, 2002. That was the day that the last bear market ended.
The recession of 2001-2002 was also in the process of ending at that time. That recession was a walk in the park compared to the monster that we have now. And I don’t think that we are more than halfway to the bottom of this recession.
So how can the market bottom here? Answer: it can’t. The market is going to be hit by wave after wave of bad news for months to come.

See Matt's Blog for more.

 

[Gumby]

Bush Defends Bailout

NEW YORK (CNNMoney.com) -- President Bush on Friday defended recent federal intervention in the financial system as necessary to ward off a wider economic crisis and said the actions were not just a Wall Street bailout.
"People look at the crisis and say, 'Oh, it's only Wall Street,' " said Bush, addressing the U.S. Chamber of Commerce. "I don't think so. In fact, I know that if we had not acted, it would have affected the American people directly."
"If the government had not acted, the hole in our financial system would have gotten larger," he added.


Full Story