Market Talk / June 4 - 10

[Pilgrim]

Ummm, I think I'm gonna be like Wheels. He's not gonna post here anymore as long as "the technician" continues to post here. I'm gonna do the same thing.....

Time to move on..............:blink:

You can't do that! As a perma-newbie, I have a very short list of people I follow carefully. Despite the bad time we have all had in the last month, I still watch your moves with great interest. Must be another way!

 

[The_Technician]

If you are still reading the posts MM.....looks like I might be the default winner with the year end returns you bet me that you would win....:blink: ...I didn't think you would ease out of it like that! :notrust: Maybe you will read this and get fired up and stick around....it could be educational for ya....

As far as the market goes, seems that the heavy downer we took yesterday is continuing the downthrust this week.....we could be seeing those 1230's in the S&P soon as well as the mid 50's in the I fund. Since we are 7-8% down since May 10th, this could take us down another 7-8%........

It seems the market is following the economics that I have had feelings of for the last year....I just wish it had been more responsive last year....betcha DMA is happy!!!

The Risk is still high in my book.....

 

[Cortez]

I certainly would wait for a narrow range day before attempting to play any bounce back up. Or at least a sell off at the open followed by strong buying up to the deadline. No fun catching knives!

 

[The_Technician]

I certainly would wait for a narrow range day before attempting to play any bounce back up. Or at least a sell off at the open followed by strong buying up to the deadline. No fun catching knives!

I'm looking for that slippery footing we get when we first go over the cliff myself......playing averages is great but its doesn't always work.....and when it drops it really hurts.....its prime time for it.....


Market breadth is negative. On the New York Stock Exchange, decliners topped advancers by a margin of four to one on volume of 821 million shares. On the Nasdaq, losers beat winners by a margin of three to one as 961 million shares changed hands.

See other comments
http://money.cnn.com/2006/06/06/markets/markets_newyork/index.htm

comments from Poole....
http://money.cnn.com/2006/06/06/markets/bondcenter/bonds/index.htm

 

[Fivetears]

This forum, and all of it's contributors, are what make it "Fair & Balanced." True... you can pull the "ignore" rope on the guillotine for all who don't meet with your level of personal membership criterion. Kinda reminds me of acting like the Queen of Hearts in Alice in Wonderland though.

 

[Rod]

For any other reading this, you can add The_Technician to your ignore list by clicking on User CP and going to the Miscellaneous section.

TSPTalk does not advocate "blacklisting" of its members. Everyone has their opinion and is entitled to it. That's why this is called "TSPTalk".

Thanx!
Rod

 

[Birchtree]

Heck, I'm the one that needs the crying towel today. Don't cry for me Argentina. My dividends this week will soften the blow and my dollar cost averaging this week will help me rest easier knowing that I participated in thesacrifice of lower pricing. Stay positive - the bottom is being made.

 

[Rod]

Stay positive - the bottom is being made.

PLUS, we have 3 hours of trading left. We've already seen great turn-arounds in less time.

 

[FundSurfer]

TSPTalk does not advocate "blacklisting" of its members. Everyone has their opinion and is entitled to it. That's why this is called "TSPTalk".

From what I understand, there are others with a similar feeling as mlk_man. My post was to encourage them to hit ignore button rather than just withdrawl from posting.

As a reminder, TSPTALK also has the following rules:
*Do not incite flame wars.

I think taunting qualifies. The person I refer to does this on a regular occasion.

 

[The_Technician]

From what I understand, there are others with a similar feeling as mlk_man. My post was to encourage them to hit ignore button rather than just withdrawl from posting.

As a reminder, TSPTALK also has the following rules:
*Do not incite flame wars.

I think taunting qualifies. The person I refer to does this on a regular occasion.

Oh Really....

 

[Rod]

As a reminder, TSPTALK also has the following rules:
*Do not incite flame wars.

I think taunting qualifies. The person I refer to does this on a regular occasion.

Report any posts you feel include personal attacks and they will be evaluated.

 

[Spaf]

If we put Bernanke on the ignore list, will he go away?... :notrust: ...:nuts:

 

[Pilgrim]

Does the old saw "sell in May and walk away" mean sell in early May (which I didn't) or does it mean see in late May (which I did, batterred and bleeding)? Did folk wisdom fail me or did I ignore it?

 

[Rod]

If we put Bernanke on the ignore list, will he go away?... :notrust: ...:nuts:

We wish!

 

[The_Technician]

Does the old saw "sell in May and walk away" mean sell in early May (which I didn't) or does it mean see in late May (which I did, batterred and bleeding)? Did folk wisdom fail me or did I ignore it?

Pilgrim, did you follow a disquised wolf like a blind little lamb???? You really have to be careful these days...

Watch out metals..
http://money.cnn.com/2006/06/06/markets/gold.reut/index.htm

 

[SystemTrader]

The classic version sells at the beginning of May. Some newer variations sell during a 6-8 week "window" in April-May based on certain technical criteria.

Does the old saw "sell in May and walk away" mean sell in early May (which I didn't) or does it mean see in late May (which I did, batterred and bleeding)? Did folk wisdom fail me or did I ignore it?

 

[The_Technician]

Another good summary of what is actually happening in the markets.
http://news.yahoo.com/s/ap/20060606/ap_on_bi_st_ma_re/wall_street;_ylt=AhAY9SkGD8K4Eej3Mi0IT9OyBhIF;_ylu=X3oDMTA2Z2szazkxBHNlYwN0bQ--

 

[Birchtree]

The Technician,

Big man you worry too much - get a grip and relax. SPX of 1255 intraday was the retest - and besides bull markets do not like company, the market will do everything it can to make the majority gun shy and keep the bears from recognizing the prevailing trend. There has never been a time that the market has topped with the Transports in an uptrend.

Dennis - permabull #1

 

[Spaf]

Daily Yak

The Kingdom of TSP
Daily Edition
June 6, 2006 Closing​

Yak, Doodles, Tea Leaves & The Tin Box

Kingdom Yak:
Pro-Yak...................................USS Market makes port at closing. She started listing about 10:30. Tugs reached her about noon.
Con-Yak..................................fOmC is suppose to be part of the federation? Could it be that renegade sub captain, aka BB?

Doodles:
Socks [$SPX] Closed at..............1263.85, dn -1,44
Volume (CMF) (money flow).........+0.022, increasing.
Averages (MACD) (trend)............-7.930, decreasing.
Momentum (S-STO) (signal).........52.16, decreasing.
Strength (RSI) Overbought/sold....[70] 41.79 [30]

Lube (NYM) Closed at..................72.50, dn -0.10
Oil Markers................................<70= ok, 70-75= worry, >75= panic.

Tea Leaves:
Charts & Stuff............................Ashes to ashes, dust to dust!

Tin Box:
Position.....................................100% socks
Stops [$SPX]..............................Alert: 1275 [broken]. Trail: 1262.

 

[Spaf]

The Kingdom of TSP
June 6, 2006
Addendum​

The USS Market​

Engineers at the shipyard report only minor damage to the USS Market. The torpedo fired at the USS Market was a smoke and stink torpedo! It ricocheted off the rudder striking the aft hull in the garbage compartments. The garbage compartments were flooded causing the ship to list.

Welders were busy repairing the damage.

In the mean time, crew members were busy filling depth charges with bull manure. Vowing to give the renagade fOmC submarine a taste of his own medicine.