Market Talk / June 4 - 10

[Birchtree]

Robo,

I sold two and bought eighteen. May do some more tomorrow - it's always a sacrifice because I know what I sell will only become more expensive and at the same time what I buy will undoubtedly become even cheaper. But it's all just temporary - now is picking raspberries time in the bear patch. We saw some power today with volume - what if it were 340 points all in one direction? One of my pretty girls was up three points today so maybe she'll hit the road soon - although....

Dennis - permabull #1

 

[robo]

Dave's Daily
Thursday June 8, 2006
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MARKET COMMENT

June 8, 2006

So from where did the buying come from today. Conspiracy buffs will argue it came from the PPT (Plunge Protection Team) or from the Fed itself. Based on the aforementioned Program Trading data, the buying emerged directly from Wall Street trading desks and their hedge fund pals. There is no investment flow from individuals per AMG Data.

As stated previously: “expect more not less volatility.” I’m watching this spectacle comfortably from the sidelines. Tomorrow marks the end of a vicious week of market action. The question now is: “was this activity, while frenetic, just a normal correction?” Or, to repeat a previous observation: “Is there something on the wing?”

I’m looking forward to the weekend.

http://www.etfdigest.com/daveDaily.php

 

[Spaf]

Daily Yak

The Kingdom of TSP
Daily Edition
June 8, 2006 Closing​

Yak, Doodles, Tea Leaves & The Tin Box

Kingdom Yak:
Pro-Yak...................................Lube under 70, but rises above in PM. Today's candlestick was a good hammer of down trend reversal.
Con-Yak..................................Torpedo removed, engineers surveying aft damages to USS Market.

Doodles:
Socks [$SPX] Closed at..............1257.93, up +1.78
Volume (CMF) (money flow).........+0.003, increasing.
Averages (MACD) (trend)............-9.182, decreasing.
Momentum (S-STO) (signal).........34.91, flat.
Strength (RSI) Overbought/sold....[70] 40.07 [30]

Lube (NYM) Closed at..................70.35, dn -0.47
Oil Markers................................<70= ok, 70-75= worry, >75= panic.

Tea Leaves:
Charts & Stuff............................?? / Yellow [doodles ??, Lube > 70]

Tin Box:
Position.....................................100% socks
Stops [$SPX]..............................Alert: NA. Trail: 1258.

 

[mlk_man]

"Arrogant today, lurking tomorrow"

Ancient milkman proverb

Just had to quote this again. S&P held 1245. It'll probably be up tomorrow but if it is, don't get too comfy. Next week is quite important and we'll most likely test the lows again until the PPI and CPI come out.

I haven't seen anyone thank the Bush economists for the market coming back up? They did offset the Fed govs hawkish views..............that Bernanke, at least Greenspan wasn't trying to impress the ladies........:blink:

 

[Fivetears]

Never heard of that before... PPT. Also agree with your expectations regarding more volatility in the future. Investors will have to traverse alot of broken glass to get to that pot-o-gold.

Dave's Daily
Thursday June 8, 2006
Previous | Archives


MARKET COMMENT

June 8, 2006

So from where did the buying come from today. Conspiracy buffs will argue it came from the PPT (Plunge Protection Team) or from the Fed itself. Based on the aforementioned Program Trading data, the buying emerged directly from Wall Street trading desks and their hedge fund pals. There is no investment flow from individuals per AMG Data.

As stated previously: “expect more not less volatility.” I’m watching this spectacle comfortably from the sidelines. Tomorrow marks the end of a vicious week of market action. The question now is: “was this activity, while frenetic, just a normal correction?” Or, to repeat a previous observation: “Is there something on the wing?”

I’m looking forward to the weekend.

http://www.etfdigest.com/daveDaily.php

 

[The_Technician]

Looks like the market could take that reprieve (for a moment) that most are expecting today....Foreign markets are rebounding today.

Risks are very high.

Next week is setting up for some more reality....so be prepared.....markets have a LOW vote of confidence....expect another drop coming your way....

The F fund is continuing to get stronger...

Interest rate inversion happened again this morning....

No BS!!!

 

[mlk_man]

Ever notice that when someone is lying to you, they always end their sentences with "Honestly!"? Think about it................:blink:

 

[mlk_man]

I just realized that the NYSE had the highest trading volume day of the year yesterday. Buy a large margin! Even though it ended the day down .56%, it staged a pretty strong rally in the 2nd half of the day. These large volume buying surges should bode well for the future.

 

[Pilgrim]

"Fed watchers will be monitoring a speech Fed Chairman Ben Bernanke is due to give at 11 a.m. ET at the commencement address at the Massachusetts Institute of Technology, where he earned his Ph.D."

Let me guess: this will move the market sharply, one way or the other, starting at 12:01 p.m.

 

[mlk_man]

I'm hoping he doesn't try to impress the college girls with how hawkish he is.

 

[The_Technician]

Still looking weak in the markets this morning....no faith in a recovery that will hold...S&P down to 1205 next week as a possibility...

Looks like the wind is starting to blow again. Trigger lifted his head and took a looksee. All those steers can't tell what is coming their way......they seem to be looking for protection in numbers in their broken down pen......me and Trigger went out on the range by ourselves looking for a BBQ to go to soon....

No BS!!!

 

[teknobucks]

within 1-2% of a bottom here.
gonna ride it...no way do i want to be a seller at these levels.
jmho
tekno

 

[SystemTrader]

Once again, 1250 is coming into play. I think the key is whether we get a CLOSE that's definitively below 1250. So far, the price keeps testing but ultimately rejecting the 1240-1245 level.

Looks like 1250 on the S&P 500 is again the major battleground between bulls & bears. We'll see who wins this round soon enough...

 

[Fivetears]

And at the commencement address at the Massachusetts Institute of Technology, Federal Reserve Chairman Ben Bernanke said, "The world has a great deal more to offer than money." :blink:
He additionally said, "And remember that it is OK to fail -- really. New opportunities will always arise for those who seek them."

WOW! Those are great words of encouragement right there folks.
Does "Really" also mean like... Honestly, MM?

 

[The_Technician]

Me and Trigger decided to see on the cliff situation...

On the way by them steers motioned out of their pen to get cooler air....all that heat starting to take its toll....several steers found at bottom of cliff, apparently jumped when heat wave hit max at high noon.....thought they saw water and decided to go swim.....

Cooler winds blew by and relieved sweaty grip on situation over the cliff....seems situation is hanging on to dear life now....wishing for a break.....is what we were told.....by somebody....maybe victim has enough energy to speak up....looks like situation has alot to think about over a few days ahead....next week looks bleak but could change to a temporary relief....

Trigger wants to go get a sip of some cooler ice popsicles....gonna have to look into situation of that BBQ coming up.....got an invitation for a shin-dig right after......maybe I can find a cool tree to take a nap for a while as Trigger gets his popsicle.....

No BS!!

 

[mlk_man]

Does "Really" also mean like... Honestly, MM?

It might Trigger. Just be careful where techy puts that popsicle stick once your done.

No BS :blink:

 

[TiCKed]

It might Trigger. Just be careful where techy puts that popsicle stick once your done.

No BS :blink:

At least SOMEONE understood at least a few words of that post.....You beat me. :worried:

 

[tsptalk]

within 1-2% of a bottom here.
gonna ride it...no way do i want to be a seller at these levels.
jmho
tekno

Since the S&P is 1 to 2% from the bottom now tech, are you thinking we put in a bottom but may test, or it will go 1 to 2% below the 1235 low?

 

[Spaf]

This week seemed to be full of woes. There wasen't anything of substance. Next week we get some hard data. As they used to say "Where's the beef?" If the economic indicators are favorable we could be going the other way.

http://tinyurl.com/bp4e5

I got me a new crystal ball! Well of sorts. It's US highway 75/69, north of Dallas, through much of Oklahoma, and generally toll free. The truckers love it! So long as Hwy 69 is full of trucks, the economy is good!..And those trucks haven't slowed down a bit (The Dow Theory).

 

[Fivetears]

GFY2 Man Milk and grow up.

It might Trigger. Just be careful where techy puts that popsicle stick once your done.

No BS :blink: