Market ALERT *****!!!!

[Guest]

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Who told you to fill up on Thursday????

December contract went over 65 - just a tick ago.

5% increase on an overstrapped economy that is based on shopping.

Yeap going to end badly.

 

[Birchtree]

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Nah, capital expenditures and exports to the rescue - much stronger going forward.

The 34 year cycle guy looks for the valuation downside to end in 2017.

What about the Chinese using America as a tourist destination?

 

[Guest]

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You want fries with that? We will turn into shoe shiners? That is your master plan?

China is a communist country they do not allow their people to come to the U.S. easily.

 

[The_Technician]

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Posted earlier after I returned from a small vacation that I still see where we just may hit 1145 by mid Sept.....expecting a continuous slide to and thru that level....

:^

 

[The_Technician]

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Testing

 

[The_Technician]

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Oooops wheres the door???? :shock:

1226 is a support level that was just broken....

Where, if we go down more, do we stop???o

:dude:

 

[robo]

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Tech wrote:

Where, if we go down more, do we stop???o

If the 1220 fails it could get ugly...... Next major support is 1200.... Now do buyers come back in................ S&P now 1221.........OUCH!

 

[robo]

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1220 breaking down selling might go into tomorrow....

 

[Birchtree]

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Oh no, cluck, cluck - where is that Chicken Little ?

Blame it on those program trading computers - tomorrow may tell the story. We viloated several TA support levels on sp500 at 1220 and 1219.70. So now what - its only an ink line. HPQ may give us the rebound tomorrow to save the day.

Please Mr. Custer I don't wanna go. Don't make me go into the G fund, I'd rather have the blind fold and cigarette first. Today was an over reaction to Wal Mart and gas prices - just what the Fed likes to see - cause more pain. Oil at these prices will shave the next GDP. Schwab says their small investor volume is up 40% - maybe the dumb money is buying and they will save the markets. Anyway this is just too exciting for this functional psychopathy junkie to abandon the good times. C'mon you hairy Bears - come get some honey in my pasture.

 

[The_Technician]

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YooooHoooo!!!! Whewwww!!!:shock:

I come back only to see a breakdown.....tomorrow looks like it is not going to be nice.....

Market breath was 2:1 in the negative....with the retail sales doing fair buttheir future looking cloudy (due to the CPI with energy and food )...the market has to go down....

Good lets get this outta the way and move on with it!

:dude:

 

[robo]

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Birchtree wrote:

Blame it on those program trading computers - tomorrow may tell the story.

Some comments from a Tech at the close.....

Now that the SPX has penetrated 1220, the projection for the move extends from 1217 to 1210. These are Fibonacci projections.

Tomorrow morning still looks like a good time for the very short term cycle to make its low. However since both the SPX and the QQQQ made new lows, it is likely that the correction will extend for a few more days.

On the other hand, for the first time since the beginning of the correction, the McClellan oscillator has made a higher low while the SPX has made a lower low. This is positive divergence, and if we get a rally from here, it could turn out to be something important. Things are getting interesting!

I hope things are not going to gettoo interesting sinceI bought at the close........ Hoping the 1210 holds tomorrow, and then a nice bounce.

No bounce, then buy some more and hope 1200 holds...........

 

[coolhand]

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Birchtree wrote:

C'mon you hairy Bears - come get some honey in my pasture.

WOOHOO! Bring it on so I can buy some more!!!

 

[teknobucks]

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coolhand wrote:

Birchtree wrote:

C'mon you hairy Bears - come get some honey in my pasture.

WOOHOO! Bring it on so I can buy some more!!!

ohYEAH!!!

gotta love this action...don't mind if s&p goesto 1200 at all:^

bout time 4 this 2 happen!!!!

 

[Guest]

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Birchtree wrote:

Oh no, cluck, cluck - where is that Chicken Little ?

Blame it on those program trading computers - tomorrow may tell the story. We viloated several TA support levels on sp500 at 1220 and 1219.70. So now what - its only an ink line. HPQ may give us the rebound tomorrow to save the day.

Please Mr. Custer I don't wanna go. Don't make me go into the G fund, I'd rather have the blind fold and cigarette first. Today was an over reaction to Wal Mart and gas prices - just what the Fed likes to see - cause more pain. Oil at these prices will shave the next GDP. Schwab says their small investor volume is up 40% - maybe the dumb money is buying and they will save the markets. Anyway this is just too exciting for this functional psychopathy junkie to abandon the good times. C'mon you hairy Bears - come get some honey in my pasture.

Well, here's chicken little.......

And here's the firing squad...

I'llsing a little prayer for you....

 

[tsptalk]

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teknobucks wrote:

coolhand wrote:

Birchtree wrote:

C'mon you hairy Bears - come get some honey in my pasture.

WOOHOO! Bring it on so I can buy some more!!!

ohYEAH!!!

gotta love this action...don't mind if s&p goesto 1200 at all:^

bout time 4 this 2 happen!!!!

We have usually bounced after these type of days, but if we don't then it could be the start of a longer termdecline. So be careful.

I'm hearing the sounds of "Denial" now. Will "Fear" be next? :shock:

 

[Spaf]

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Denial! Yep, can't deny them oil spots!

 

[Birchtree]

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Spaf,

And this from a guy who used to fly tree level at night without running lights.

It comes down to this worrying about a little oil. I guess we all settle in at some point. The rest of the month should be interesting. Hope to see you at higher levels, but gee who knows. Will be looking forward to your next graph. Thanks again.

Dennis

 

[The_Technician]

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I think its really alot more than oil....people are really having a hard time keeping up with their expenses which has grown over the last couple of years ...far exceeding their income growth.....ignoring this fact is truely a failure on ones sense of market conditions....this is why we have had a large growth of consolidation loan companies for the last 5-6 years, not counting the passage of the bankruptcy bill........the companies realize the pinch is on and they are just about taken peoples property at will........

Some people never really get a good grip of what makes an economy.....reported numbers are not the absolute true indicator of what is reality....the numbersare just the camoflage of the cameleon, but when reality bites it hurts....just tell me what hasn't gone up in price substantially in the last 5 years and then tell me whose income has kept up with it......:?

The reality of the situation is, we're strangling the economy by the pure greed of companies squeezing everything out of consumers that they can.....the sure thing about all this is the next event that we should be expecting.....recession and what comes with it.......something everyone should start thinking about now, for it is just around the corner....how long it will last will depend on how soon consumer income rises which means more higher paying jobs......and the good ole USA should already start making moves to bring backmanufacturing in the states.....or we should just be ready to become a THIRD WORLD NATION........with a great defense system.:^
:dude:

 

[The_Technician]

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One other thing....this BS about how the equivalent price of oil in the 70's was $80/bbl at todays prices is great math, but they forget one thing, we don't have the same economy as we did in the 70's, and producing oil today cost less.......who hires these guys, frivolous lawyers????

.....we virtually were going great guns with manufacturing and such in the 70's.... to buy something from Japan was a joke...it wasn't until Denning got over there and pushed quality that Japanese products became anything of value.....

Yeap to justify the current price of a barrel of oil by far fetched math is real justification on why we shouldjustify the cost of the present price......this is a real loser here......who is doing this Stephenopoulous.......???? Or Soro's???? Or some other liberal who justifies raising taxes because you can???? What a joke.......magician economics:l Now you see it ...now you don't ..POOOF!!!!
:dude:

 

[Spaf]

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Birchtree wrote:

Spaf,

And this from a guy who used to fly tree level at night without running lights.

It comes down to this worrying about a little oil. I guess we all settle in at some point. The rest of the month should be interesting. Hope to see you at higher levels, but gee who knows. Will be looking forward to your next graph. Thanks again.

Dennis

BT,

Old flying saying: "There are old pilots and there are bold pilots, but there ain't no old bold pilots!"

My stops got broken, my system says capital preservation.

Back a while, I'd a gone for it. Good luck! Hope U get that pot of $$. Spaf