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Market Talk / March 19 - 25
- Thread starter Spaf
- Start date
Birchtree
Well-known member
Spaf,
Stay off the boat this weekend and rest up - volatility on the horizon.
The SPX has made higher price highs now for 5 consecutive months. Nah! It's true.
The SPX level of 1375 is a fibonacci .782 retracement level from the 2000 top to the 2002 bottom. (770 to 1375 from 1540). That manure smell invites me to think this is a secular bull mega trend continuance.
New home sales fell almost 30% on the west coast - Ben did you notice?
No sir, I would not bet a trending price move to the downside is about to let loose and take me down the hill - but my wagon is sturdy just in case and remains on standby.
Stay off the boat this weekend and rest up - volatility on the horizon.
The SPX has made higher price highs now for 5 consecutive months. Nah! It's true.
The SPX level of 1375 is a fibonacci .782 retracement level from the 2000 top to the 2002 bottom. (770 to 1375 from 1540). That manure smell invites me to think this is a secular bull mega trend continuance.
New home sales fell almost 30% on the west coast - Ben did you notice?
No sir, I would not bet a trending price move to the downside is about to let loose and take me down the hill - but my wagon is sturdy just in case and remains on standby.
From Birch "New home sales fell almost 30% on the west coast - Ben did you notice?"
Headline in the business section Palm Beach Post Saturday.
"NEW HOME SALES DROP, THE BIGGEST IN NINE YEARS"
This information was obtained by the Commerce Department; it went on to say the "crash" in home prices is seen as the biggest threat to economic growth.
If interest rate hikes continue, I see foreclosures on the horizon as upwards of 26% of the population are trapped in either exotic or Adjustable rate mortgages.
Wondering is this may be the impetus the feds need to stop raising interest rates.
Headline in the business section Palm Beach Post Saturday.
"NEW HOME SALES DROP, THE BIGGEST IN NINE YEARS"
This information was obtained by the Commerce Department; it went on to say the "crash" in home prices is seen as the biggest threat to economic growth.
If interest rate hikes continue, I see foreclosures on the horizon as upwards of 26% of the population are trapped in either exotic or Adjustable rate mortgages.
Wondering is this may be the impetus the feds need to stop raising interest rates.
There should be a rotation away from Real estate speculation into stocks as Housing slows down . Florida is seeing prices coming down as well as Calif.
In addition, Oil money will be put to work in stocks especially in European countries, looks like we may be setting up for a pretty good year.
In addition, Oil money will be put to work in stocks especially in European countries, looks like we may be setting up for a pretty good year.
Birchtree
Well-known member
Stupid is as stupid does - I think
You buy when no one wants to - and you sell when everyone wants in. You buy when sentiment readings are their worst. It's so simple to be contrarian.
It is the NYSE group of stocks that are making both new all time highs in both cumulative breadth and volume. Friday we had all-time highs in the SML and also in the MID. Both the SML and MID have seen their breadth MCSUMs break above their declining top lines - even the NASDAQ breadth MCSUM continues to move to the upside. This bull has a very broad approach that will lift many boats and if you ain't bullish now you will never be bullish. Sit on your hands but for me as long as the NYSE A/D line continues to make new highs I'm in up to my eyeballs. I can hear the herd in the distance and the energy coiled in this market will take participants way past Dow 11,722.98. Now that is stupid as stupid does.
You buy when no one wants to - and you sell when everyone wants in. You buy when sentiment readings are their worst. It's so simple to be contrarian.
It is the NYSE group of stocks that are making both new all time highs in both cumulative breadth and volume. Friday we had all-time highs in the SML and also in the MID. Both the SML and MID have seen their breadth MCSUMs break above their declining top lines - even the NASDAQ breadth MCSUM continues to move to the upside. This bull has a very broad approach that will lift many boats and if you ain't bullish now you will never be bullish. Sit on your hands but for me as long as the NYSE A/D line continues to make new highs I'm in up to my eyeballs. I can hear the herd in the distance and the energy coiled in this market will take participants way past Dow 11,722.98. Now that is stupid as stupid does.
