Market Talk / August 13 - 19

[Birchtree]

Bullay, Bullay, Bullay - now we gotta go....by the Medallions I think 1965. Fear the BULL and step up.

 

[Wheels]

Birch,

Anytime I ask questions, rhetorical or otherwise, try to resist the urge to answer. Unless of course you decide to entertain an original thought.

Thanks,

Dave
<><

 

[Birchtree]

Wheels,

The time is slowly approaching....live free or die. Why such a negative vibe?

Dennis

 

[Show-me]

Will the FTSE pop tomorrow after lagging badly the last couple of days? <><

I feel the same way. Energy in the UK has taken a beating and I'm holding out and hoping for that pop.:blink: Will the profit takers ruin the day?:worried:

 

[Birchtree]

What's interesting is that the NYSE breadth MCO moved aggressively higher yesterday with more movement today looking to breach the May highs. And also left an expansion gap to the upside in the NYSE MCSUM on its way today toward +500. Bottoms above bottoms continue to control all the MCO breadth and volume patterns - there is an upside breakout coming with plenty of money for rocket fuel. Catch the bullish wave. Snort.

Dennis - permabull #1

 

[Dave M]

Summertime

Didn't we have a summertime rally last year?

Dave

 

[James48843]

SNOOOORRRRT !!!

Personal opinion- Last May I thought the runup was way overdone, and pulled money off the table just before things headed south. It's been back and forth a lot over the last two months.

But at this very moment I feel, well, very bullish.

SNORRRT!

The interst rate rise has eased- looks like we're gonna park here for a while, and that will be good for "F" fund.

Oil has peaked, and is now easing off a bit. and THAT is postive news.

Inflation appears mostly under control, and the economy is not falling apart.

And a cease fire in Lebanon, ta boot.

While the November elections are still some time away, it looks to me like a nice place to rally. Upward is my bet.

SNOORT ! ! !

 

[Birchtree]

The Dow is up 90 points at 1500 hours - the shorts should start to do some serious covering and could push the market even higher. I won't venture a guess - don't want to sound overly bullish. But the transports are really showing some bullish charater and if the momentum continues will reach the previous highs posted in May. The sentiment is so negative it's classic.

Dennis - permabull #1

 

[Wheels]

I was leaning towards the markets taking a little breather tomorrow but HP beat expectations and raised guidance for Q4 which could easily be a catalyst for another good day.

Dave
<><

 

[tsptalk]

That would be a sure sign of strength because options expiration week tends to see big Tuesdays or Wednesday reverse (or at least stop) on Thursday.

 

[Spaf]

Daily Yak

The Kingdom of TSP
Daily Edition
August 16, 2006 Closing​

Yak, Doodles, Tea Leaves & The Tin Box

Kingdom Yak:
Pro-Yak...................................Peasant prices ease inflation fears!

Con-Yak..................................No rain today!

Jester-Yak...............................Lookin good!

Doodles:
Socks [$SPX] Closed at..............1295.43, up +9.85
Volume (CMF) (money flow).........-0.001, decreasing.
Averages (MACD) (trend)............+5.670, increasing.
Momentum (S-STO) (signal).........65.47, increasing.
Strength (RSI) Overbought/sold....[70] 63.46 [30]

Lube (NYM) Closed at..................71.89, dn -1.16
Oil Markers................................<70= ok, 70-75= worry, >75= panic.

Tea Leaves:
Charts & Stuff............................Green / Yellow [doodles +4-1 / Lube > 70]

Tin Box:
Position....................................100% socks
Stops [$SPX].............................Alert: 1282. Trail: 1269.

 

[Birchtree]

Keep all eyes focused on the Dow Transports tomorrow - they have been leading off their 17% correction.

 

[Fivetears]

S&P 500 hits three-month high
NEW YORK - U.S. stocks rallied on Wednesday with the S&P 500 reaching a three-month high as investors interpreted a tame increase in core consumer prices to mean the Federal Reserve will keep interest rates unchanged in the short term. Falling U.S. crude oil futures further underpinned rising stocks as declining energy prices can reduce a major expense for Corporate America, potentially helping profit margins. "People are paying attention to the PPI and CPI reports, which gives the Fed reason to keep interest rates on hold," said Anthony Conroy, head trader at BNY Brokerage, a unit of Bank of New York.
http://news.yahoo.com/s/nm/20060816/bs_nm/markets_stocks_dc_46

 

[James48843]

Looking to the foreign markets-

Asia, Europe both slightly off this morning- but that is offset by a lower dollar, to just about even out everthing.

US markets have had a nice run, and I still think we may have some upward momentum left to go. Rarely do we hit those previous highs without inching a little more than last time.


We'll see what happens. Good luck everybody, and hang on. I see Tom is moving a little out today. I'm hanging on for now.

 

[Birchtree]

If the NYSE will give us three back to back 3 to 1 A/D line ratios - we will be on to something. This historically has been a harbinger to a multi-month bull move. I've been looking for a resumption of the bull move for three years now - this could be the second leg and a wave 3 of 3 - which is the strongest move up. Snort. Ready for lift off. Enough of the dry runs already.

 

[Birchtree]

If we can breach SPX 1300 and hold it - oooh the floods gates may open, the beach crowd will be on their cell phones pushing in the big money.

 

[mlk_man]

Fisher speaks for the Fed at 1pm. Does anyone know if he's dovish or hawkish? Could tell the story of what happens later today. Wish I had noticed earlier................

 

[Birchtree]

He will say the Fed is on the right course - but always subject to change if the situation dictates.

 

[mlk_man]

Dovish. Should of stayed in I guess................

http://www.msnbc.msn.com/id/8060354/

 

[mlk_man]

Wait a minute, I just noticed the date on that. June 1st, 2005 and he said back then the Fed was close to ending rate hikes? Oh boy............