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Market Talk / May 20th - 26th
- Thread starter Spaf
- Start date
- Status
Birchtree
TSP Talk Royalty
- Reaction score
- 143
I have all my contributions going into the C fund well - DCAing at an unknown price seems to excite me for some reason. Started the year with a price buy at $15.69, caught a couple bottoms at $15.40 and $15.41 and now we're pushing $17 with my last fate DCA at $16.77. You don't have to take any of this investing stuff seriously - concentrate on accumulation of shares and build a power account and you'll do fine.
Spaf
Honorary Hall of Fame Member
- Reaction score
- 45
The Kingdom of TSP
Daily Edition
May 22, 2007 Closing
Daily Edition
May 22, 2007 Closing
Yak, Le Charts, Doodles, Tea Leaves, 5-Tribes, and The Barn Yard.
Kingdom Yak:
Pro-Yak....................................[SPX] remains bullish with the 13d moving average above 50d MA.
Con-Yak...................................Sock prices are high, average volume, and kind of overbought!
Jester-Yak................................Consolidation, indecision, but we could be drifting higher (the path of least resistance), that is if Krude doesn't get rough.
Doodles:
Stops.......................................Alert (-1%)....Trail (-2%)
.....SPX........1524.12 -0.98.........1510.............1495
Dollar........................................82.41 +0.06 for the day.
Lube (NYMEX) Closed at...............64.97 -1.30 for the day.
Oil Markers.................................<60= ok, 60-65= worry, >65= panic.
Tea Leaves:
Yakndoodles...............................Yellow!
5-Tribes
Tomorrow...................................Tribes are holding 1.5 bears to 3.5 bulls.
The Barn Yard
Location.....................................100% G.
weatherweenie
TSP Legend
- Reaction score
- 179
Briefing.com
08:30 am : S&P futures vs fair value: +2.1. Nasdaq futures vs fair value: +2.0. The S&P 500 futures are still trading above fair value, implying large-cap stocks may take another crack at closing the benchmark index in record territory after two unsuccessful attempts. Aside from the absence of potentially troubling economic data scheduled this morning and more deal making, some encouraging earnings news is also in the spotlight. Medtronic (MDT) is up 4% in pre-market action after posting an upside Q4 surprise last night while Target (TGT) just reported, also topping expectations.
08:30 am : S&P futures vs fair value: +2.1. Nasdaq futures vs fair value: +2.0. The S&P 500 futures are still trading above fair value, implying large-cap stocks may take another crack at closing the benchmark index in record territory after two unsuccessful attempts. Aside from the absence of potentially troubling economic data scheduled this morning and more deal making, some encouraging earnings news is also in the spotlight. Medtronic (MDT) is up 4% in pre-market action after posting an upside Q4 surprise last night while Target (TGT) just reported, also topping expectations.
, it will come, it will come.
weatherweenie
TSP Legend
- Reaction score
- 179
Quite the dip around 2pm Eastern.
charmed855
TSP Strategist
- Reaction score
- 9
Look at that puppy tank! Where she'll stop nobody knows. 
weatherweenie
TSP Legend
- Reaction score
- 179
Briefing.com
2:30 pm : So much for the bulls' running away with what was looking to be their latest victory as a renewed wave of selling interest within the last 30 minutes spikes the indices to afternoon lows. In similar fashion to Monday's afternoon action, the extensiveness of the market's pullback is likely being attributed to the triggering of a sell program since the major indices plunged in synch with each other and logged roughly the same percentage pullbacks (-0.5%).
The first wave shaved more than 40 points off the Dow while another technical breakdown about 15 minutes later, as the price-weighted index failed to find support above 13520, pushed it even lower.
2:30 pm : So much for the bulls' running away with what was looking to be their latest victory as a renewed wave of selling interest within the last 30 minutes spikes the indices to afternoon lows. In similar fashion to Monday's afternoon action, the extensiveness of the market's pullback is likely being attributed to the triggering of a sell program since the major indices plunged in synch with each other and logged roughly the same percentage pullbacks (-0.5%).
The first wave shaved more than 40 points off the Dow while another technical breakdown about 15 minutes later, as the price-weighted index failed to find support above 13520, pushed it even lower.
Oldcoin
Analyst
- Reaction score
- 12
Navy stages show of force off Iran coast
http://www.usatoday.com/news/world/2007-05-23-us-iran_N.htm?csp=34
DUBAI, United Arab Emirates (AP) — Ships packed with 17,000 sailors and U.S. Marines moved into the Persian Gulf Wednesday as the U.S. Navy staged another show of military force off Iran's coast — just days before the U.S. start of direct talks with Iran in Baghdad.
The carrier strike groups led by the USS John C. Stennis and USS Nimitz were joined by the amphibious assault ship USS Bonhomme Richard and its own strike group, which includes two landing ships carrying 2,100 members of the 13th Marine Expeditionary Unit.
Aircraft aboard the two carriers and the Bonhomme Richard were to conduct air training while the ships ran submarine, mine and other exercises. The Navy has maintained its two-carrier presence since February when the Stennis arrived in the Mideast waters.
Both carriers, with about 80 warplanes apiece, are expected to remain in the region through the summer, as part of the Bush administration's stepped-up military presence off Iranian shores.
http://www.usatoday.com/news/world/2007-05-23-us-iran_N.htm?csp=34
DUBAI, United Arab Emirates (AP) — Ships packed with 17,000 sailors and U.S. Marines moved into the Persian Gulf Wednesday as the U.S. Navy staged another show of military force off Iran's coast — just days before the U.S. start of direct talks with Iran in Baghdad.
The carrier strike groups led by the USS John C. Stennis and USS Nimitz were joined by the amphibious assault ship USS Bonhomme Richard and its own strike group, which includes two landing ships carrying 2,100 members of the 13th Marine Expeditionary Unit.
Aircraft aboard the two carriers and the Bonhomme Richard were to conduct air training while the ships ran submarine, mine and other exercises. The Navy has maintained its two-carrier presence since February when the Stennis arrived in the Mideast waters.
Both carriers, with about 80 warplanes apiece, are expected to remain in the region through the summer, as part of the Bush administration's stepped-up military presence off Iranian shores.
Eldritch Flatus
Market Tracker
- Reaction score
- 6
Bravo!
wht00ss
Honorary Hall of Fame Member
- Reaction score
- 9
RSI (Relative Strength Index) another look
The Dow is now working on its 8 consecutive week of higher highs and has gained over 1650 points since mid March. The Weekly 2 Period Relative Strength Index (RSI) is now working on 3 consecutive weeks with a reading above 99 and currently is near 100 which is extremely rare. In fact since 1995 the Weekly 2 Period RSI has closed near the 100 level on a limited number of occasions (points B). Each time the Weekly 2 Period RSI has closed near 100 the Dow has gone through a pullback (points C to D). Based on past history the odds would favor the Dow going through some type of meaningful pullback before too much longer.
white :worried:
http://www.amateur-investor.net/AII_Mid_Week_Analysis_5_23_07.htm
The Dow is now working on its 8 consecutive week of higher highs and has gained over 1650 points since mid March. The Weekly 2 Period Relative Strength Index (RSI) is now working on 3 consecutive weeks with a reading above 99 and currently is near 100 which is extremely rare. In fact since 1995 the Weekly 2 Period RSI has closed near the 100 level on a limited number of occasions (points B). Each time the Weekly 2 Period RSI has closed near 100 the Dow has gone through a pullback (points C to D). Based on past history the odds would favor the Dow going through some type of meaningful pullback before too much longer.
white :worried:
http://www.amateur-investor.net/AII_Mid_Week_Analysis_5_23_07.htm
Spaf
Honorary Hall of Fame Member
- Reaction score
- 45
The Kingdom of TSP
Daily Edition
May 23, 2007 Closing
Daily Edition
May 23, 2007 Closing
Yak, Le Charts, Doodles, Tea Leaves, 5-Tribes, and The Barn Yard.
Kingdom Yak:
Pro-Yak....................................Moving averages for [SPX] remain bullish with the 13d MA above 50d MA.
Con-Yak...................................Stochastics is now registering bearish with %K under %D.
Jester-Yak................................May...May!
Doodles:
Stops.......................................Alert (-1%)....Trail (-2%)
.....SPX........1522.28 -1.84.........1510.............1495
Dollar........................................82.30 -0.11 for the day.
Lube (NYMEX) Closed at...............65.51 +0.26 for the day.
Oil Markers.................................<60= ok, 60-65= worry, >65= panic.
Tea Leaves:
Yakndoodles...............................Yellow!
5-Tribes
Tomorrow...................................Tribes are still holding 1.5 bears to 3.5 bulls.
The Barn Yard
Location.....................................100% G.
weatherweenie
TSP Legend
- Reaction score
- 179
Briefing.com
08:00 am : S&P futures vs fair value: -1.5. Nasdaq futures vs fair value: -3.0. Early indications suggest some of the consolidation spurred yesterday by former Fed Chairman Greenspan's warning of a dramatic correction in Chinese stocks may carry over into this morning's open for U.S. equities. Buyers are also showing some reserve heading into this week's first batch of economic data. First out will be updates on labor conditions and business investment at 8:30 ET followed by the latest read on the state of the troubled housing market at 10:00 ET.
08:00 am : S&P futures vs fair value: -1.5. Nasdaq futures vs fair value: -3.0. Early indications suggest some of the consolidation spurred yesterday by former Fed Chairman Greenspan's warning of a dramatic correction in Chinese stocks may carry over into this morning's open for U.S. equities. Buyers are also showing some reserve heading into this week's first batch of economic data. First out will be updates on labor conditions and business investment at 8:30 ET followed by the latest read on the state of the troubled housing market at 10:00 ET.
weatherweenie
TSP Legend
- Reaction score
- 179
8:33am ET Briefing.com
[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +0.5. Durable Orders rose for third straight month, climbing 0.6% in April (consensus 0.9%). Non-defense capital goods orders excluding transportation, which provide a clearer read on underlying business capital investment, rose a healthy 1.2%. Initial claims rose for the first time in six weeks, increasing 5K to 311K (consensus 305K), but still signal tight labor conditions. Futures trade has improved following the data but now merely point to a relatively flat start for the cash market as valuation concerns remain an overhang. Bonds, though, have weakened as the 10-year note is down 2 ticks to yield 4.85%.
[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +0.5. Durable Orders rose for third straight month, climbing 0.6% in April (consensus 0.9%). Non-defense capital goods orders excluding transportation, which provide a clearer read on underlying business capital investment, rose a healthy 1.2%. Initial claims rose for the first time in six weeks, increasing 5K to 311K (consensus 305K), but still signal tight labor conditions. Futures trade has improved following the data but now merely point to a relatively flat start for the cash market as valuation concerns remain an overhang. Bonds, though, have weakened as the 10-year note is down 2 ticks to yield 4.85%.
- Reaction score
- 2,449
1522 was taken out early on the S&P. Looks like we'll either see an outside day (lower low and higher higher from prior day) or we will get another downtrend day.
Watch for a move up close to yesterday's highs and a then pullback. Looking at last February, an outside day to the downside (as we saw yesterday) was followed by a brief rally, then the major sell-off. If the S&P does move above yesterday's high it will throw a wrench in the pullback theory - but, we have to be careful because another positive week next week could lull us to sleep.
Watch for a move up close to yesterday's highs and a then pullback. Looking at last February, an outside day to the downside (as we saw yesterday) was followed by a brief rally, then the major sell-off. If the S&P does move above yesterday's high it will throw a wrench in the pullback theory - but, we have to be careful because another positive week next week could lull us to sleep.
Does A. Greenspin have a speaking schedule like FOMC, or is he like Jimmy Carter and babbles when he wishes?
It seems that the FOMC trend has held up the last number of times, and there seems to be an emerging greenspin trend, he talks, markets do a short term correction...
It seems that the FOMC trend has held up the last number of times, and there seems to be an emerging greenspin trend, he talks, markets do a short term correction...
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