Market Talk / Jan 18 - 24

[Spaf]

Market Talk
Sunday Edition
January 18, 2009​

General Commentary:

The job listings in the Bearsville Tribune didn't have any listings for long term stock positions; mainly day jobs at window-washing.

If your portfolio is down about 40%, that's about average, the S&P is down 38 percent.

Retirees are being hit the hardest due to poor TSP management; allowing stock funds to be sold rather than utilizing the G-Fund.

A look at the chart(s)
The S&P500 [$SPX] Daily
Large Caps

Charts courtesy of www.StockCharts.com​

Pricing remains under the 50dma.

The Bollinger Bands are at moderate volatility.

The P-SAR has a bearish signal.

Volume has been very good (recently).

The S-STO is back in over-sold levels.

The MACD is registering somewhat negative.

Well, that's it for the weekend!​

Be careful out there!​

 

[amoeba]

I am predicting a(nother) crushing blow to the market the next 2 days; another madoff appeared (or rather, disappeared) in Florida; foreign bank crumbling; 35,000 jobs disappear with the liquidation of Circuit City; asian markets down today; Sheila Bair is off her rocker with lame housing-freeloader ideas that the rest of us don't care for and our representatives won't vote for; and, most importantly, Poolman did not exercise a second IFT last week to buy in.

Where there's smoke, there's fire.

 

[tsptalk]

Strong dollar and strong gold today. What's brewing?

 

[Frixxxx]

Strong dollar and strong gold today. What's brewing?

Nothing of importance today. I think most traders were expecting the money to drop out of the sky during Obama's speech. He once again didn't speak of specifics and that hurt our expectations.

Other than that, wait for oil (nnut's thread) to reach $45.00. Then the we tank again.

 

[350zCommTech]

Strong dollar and strong gold today. What's brewing?

Death and destruction in the UK. Look at the GPB/USD cross.

 

[tsptalk]

Death and destruction in the UK. Look at the GPB/USD cross.

Jim Rogers says U.K. "Finished"... Short Bloomberg video

 

[Frixxxx]

Death and destruction in the UK. Look at the GPB/USD cross.

Currency convergence......The clouds of this storm have been brewing for a good while now.... What I'm looking at in the USD/JPY is a lean to the 85 mark....The dollar's not strong, it's just the Pound's gone weak.

 

[350zCommTech]

Currency convergence......The clouds of this storm have been brewing for a good while now.... What I'm looking at in the USD/JPY is a lean to the 85 mark....The dollar's not strong, it's just the Pound's gone weak.

GPB/USD breaking out of a sideways trend or a huge bear flag? If it's the later, look out below. A test of 740 is a given.

I hope they short Barclay to the ground.

 

[Frixxxx]

GPB/USD breaking out of a sideways trend or a huge bear flag? If it's the later, look out below. A test of 740 is a given.

I think it's the bear flag.....

DCA'ing opportunity?:laugh:

 

[350zCommTech]

I think it's the bear flag.....

DCA'ing opportunity?:laugh:

I'm out of IFTs, so you go ahead Frixxxx.

 

[Frixxxx]

I'm out of IFTs, so you go ahead Frixxxx.

If I knew we'd hit 3-4% today, I'd have been in....Unfortunately, I missed the trade deadline.

If I could, I would let you have MY 2 trades.....Seeing as I haven't made a trade since August.:nuts:

 

[FUTURESTRADER]

Washington fiddles while wall street (and main street) burns

 

[James48843]

What an ugly day.

 

[amoeba]

I am predicting a(nother) crushing blow to the market the next 2 days; another madoff appeared (or rather, disappeared) in Florida; foreign bank crumbling; 35,000 jobs disappear with the liquidation of Circuit City; asian markets down today; Sheila Bair is off her rocker with lame housing-freeloader ideas that the rest of us don't care for and our representatives won't vote for; and, most importantly, Poolman did not exercise a second IFT last week to buy in.

Where there's smoke, there's fire.

My apologies - Poolman bought in the same day I did - but did not bail like me on 1/16 (a "weak hand" - been burned too many times);

BTW, is it just me or did anyone else notice that Obama drifted off during the oath of office, forgot or didn't listen to what Justice Stevens was saying, grinned and looked a little lost for a moment? What was that all about?

Oh well, I guess all of us have room for improvement in listening skills but....jeepers....hope that isn't a pattern....

 

[FUTURESTRADER]

My apologies - Poolman bought in the same day I did - but did not bail like me on 1/16 (a "weak hand" - been burned too many times);

BTW, is it just me or did anyone else notice that Obama drifted off during the oath of office, forgot or didn't listen to what Justice Stevens was saying, grinned and looked a little lost for a moment? What was that all about?

Oh well, I guess all of us have room for improvement in listening skills but....jeepers....hope that isn't a pattern....

it was a 'too cool for the moment' demonstration

 

[Frixxxx]

BTW, is it just me or did anyone else notice that Obama drifted off during the oath of office, forgot or didn't listen to what Justice Stevens was saying, grinned and looked a little lost for a moment? What was that all about?

http://www.swamppolitics.com/news/politics/blog/2009/01/obamas_oath_faithfully_misspok.html

The Chief Justice screwed up....and this threw Obama for a loop. But honestly, this is only a formality and will not cause impeachment proceedings...

 

[malyla]

http://www.swamppolitics.com/news/politics/blog/2009/01/obamas_oath_faithfully_misspok.html

The Chief Justice screwed up....and this threw Obama for a loop. But honestly, this is only a formality and will not cause impeachment proceedings...

I saw that too. I thought Obama was going to correct the Chief Justice right there, but then the Chief Justice resaid the line the right way and Obama repeated the original misread. Weird moment. Was Obama tring to help the Chief Justice 'save face'? At least all the words were said, just not in the right order.

 

[Frixxxx]

I saw that too. I thought Obama was going to correct the Chief Justice right there, but then the Chief Justice resaid the line the right way and Obama repeated the original misread. Weird moment. Was Obama tring to help the Chief Justice 'save face'? At least all the words were said, just not in the right order.

I think you're right, I'm sure President Obama (official) was just caught up in the moment. I'm sure nervousness and temperature helped this issue. What is really wierd is before the ceremony, I told a coworker that I KNEW Vice-President Biden (official) would screw up the oath.....

Just like my stock picks. Right race, Wrong horse!

 

[Viva_La_Migra]

My apologies - Poolman bought in the same day I did - but did not bail like me on 1/16 (a "weak hand" - been burned too many times);

BTW, is it just me or did anyone else notice that Obama drifted off during the oath of office, forgot or didn't listen to what Justice Stevens was saying, grinned and looked a little lost for a moment? What was that all about?

Oh well, I guess all of us have room for improvement in listening skills but....jeepers....hope that isn't a pattern....

At least he didn't say " I state your name..." :nuts:

 

[amoeba]

plunder asunder:

Asia gaps down sharply. Rest of the week not looking good, for anything, well - maybe financial shorts.

Will we have a pause/respite before the 52-week low (740) is retested? Not looking hopeful.