Market Talk / July 9 - 15

[Mike]

Hey Pilgrim, put some soothing cream on it and save yourself some grief.......this thing is going down.....I was looking at the crystal ball just a minute ago and it seems we could wait a few days on it...

I would not recommend buying until the S&P hits 1220 again. Even then, I'd be very careful - if this support fails, there's plenty of room to the downside until the next support is reached.

Heck, it probably wouldn't be a bad idea to just sit out until November.

 

[Wizard]

There are no losses until you IFT - only depreciation.

Wow, you can even try to spin depreciation is not the same as a loss. I am impressed.

 

[Wizard]

Originally Posted by Birchtree
Nikkei has made a turn to the positive - and there should be some better earnings tomorrow or we wait on GE for Friday. I don't understand why I can't be a gloom and doomer? Be right and sit tight.

I like your attitude.

Investing tip. When twiddle perma and twiddle permar start patting each other on the back.

Sell. It never fails.

 

[TiCKed]

(I wonder if Birchtree noticed that someone climbed into his underwear with him this morning?)

 

[Birchtree]

That be true. I'm the only person that when I sit down I have 4 feet.

 

[Birchtree]

I'm currently a little over $30K light - another $0.15 and I'm back to the June lows of $35K light. This is not a loss because the number of shares hasn't changed - I'm actually buying more cheaper. It's a temporary depreciation that can change easily next week or perhaps get worse. Time is on my side - I'm in no hurry to cut and run - I'm simply bullish on the market and will hold my position and DCA until the cows come home. Wizard didn't you bring your 2x4, we'd hate to lose you.

 

[robo]

I'm currently a little over $30K light - another $0.15 and I'm back to the June lows of $35K light. This is not a loss because the number of shares hasn't changed - I'm actually buying more cheaper. It's a temporary depreciation that can change easily next week or perhaps get worse. Time is on my side - I'm in no hurry to cut and run - I'm simply bullish on the market and will hold my position and DCA until the cows come home. Wizard didn't you bring your 2x4, we'd hate to lose you.

Birchtree,

Joined you with a 100K today. Needed to feel some pain before the rally begins.

We could test the lows next week.

What do you think of Henry's comments?

Take care!

 

[robo]

Re: Trigger Fingers

100% S - Losing 5 to 7 K a day is giving me a warm fuzzy.

Dave
<><

Now that's what I'm talking about!!!! The Rush of winning and losing!!!


Ya Baby......

 

[TiCKed]

Re: Trigger Fingers

Now that's what I'm talking about!!!! The Rush of winning and losing!!!


Ya Baby......

Brings a movie line to mind.....

"Thank you sir! May I have another!?!"

Personally, I'd rather be winning.

 

[robo]

Ticked,

I agree my friend, but you know better than I. If you going to play hockey, you better be prepared to take a fall... However, winning is the way to go!!

Hope you have a nice weekend...

Take care....

 

[Spaf]

The Kingdom of TSOil
Special Edition
July 14, 2006​

The Lube Rack & Yak..........Is it spin or a probability?
Oil: Looking at $100
See >> http://tinyurl.com/jrgxr​

 

[Mike]

Given Syria's links to Hezbollah, it may be only a matter of time before Israel attacks them... and if they do, Iran may get involved (they have already uttered warnings about this).

If that happens, yes, oil will go above $100.

 

[Fivetears]

Stocks sink as Mideast violence escalates
U.S. stocks dropped for the third straight day on Friday as rapidly escalating violence in the Middle East drove oil prices to a record high, and investors fled stocks to move money into safer assets. Manufacturer General Electric Co. was the biggest drag on the Standard & Poor's 500 index after its quarterly outlook disappointed Wall Street. Shares of home builders fell a day after D.R. Horton Inc., the largest U.S. home builder, cut its yearly forecast for new orders. "No one wants to be long on the market ahead of the weekend. A lot of cash is sitting on the sidelines because the Middle East is on the boil," said Joseph Quinlan, chief market strategist at Banc of America Capital Management. Friday's decline nearly eliminated the Dow's gain for the year. The S&P 500 and the Nasdaq Composite index were already in negative territory for 2006. Adding to negative sentiment, The New York Times said on Friday it was investigating an envelope received at the paper containing white powder, raising fears of a possible recurrence of anthrax-tainted letters sent to newsrooms in 2001.
http://news.yahoo.com/s/nm/20060715...le2HTyb.HQA;_ylu=X3oDMTA4MHNjNWZuBHNlYwMxNjk0

 

[Spaf]

Stocks sink as Mideast violence escalates

5T, got us a new thread: Mideast. Check it out!

All this stuff starts running together like a big global blender!

 

[Birchtree]

Cluck, cluck said Chicken Little - recession is coming. Nah, said I. A recession-warning gauge devised by Federal Reserve economist Jonathan Wright - based on yields on the three month Treasury bill and 10-year Treasury note and the Fed's current target for short term rates - calculates the odds of recession in the next year are now at 36%, up from 14% six months ago.

 

[Birchtree]

Well tweedle perma, aren't import prices for June inflationary? Nah, said I. The Labor Department reported that import prices were up 0.1% in june after rising 1.7% in May. Excluding oil, import prices climbed 0.4% last month. Well tweedle perma did you know that corporate profits as a % of GDP (at 10.9%) is now at its highest level since the fourth quarter of 1966. Hmmm. Yes I cannot tell a lie - I did know that. It's also interesting to note that in the previous cycle profits peaked in 3 quarter of 1997 but the market didn't peak until 1 quarter of 2000. Now that is interesting - thanks. Was May 10th the top - hardly my friends. Dow 17,000 will be the top.

 

[Birchtree]

Snort, snort. As long as the MCO lows of June are not taken out, then we have technical divergent structures in place. Even after a 400 point down in three days the NYSE breadth MCO is stll supporting bottoms above bottoms. This is a bullish divergence. Next week we bounce toward the shuttle.

 

[robo]

July 15, 2006

Technical Market Report
by Mike Burk


The good news is:
• Volume for the components for some of the major indices have been increasing. This could lead to a washout and a tradable bottom.


Mike thinks down again next week. I hope he is wrong, but a tradable bottom wouldn't be a bad thing...

http://www.safehaven.com/article-5546.htm

 

[Spaf]

Wow, what a week! Will be closing this thread and starting a new one!

Regards, and be careful!..............

..............Spaf