Market Talk / May 6th - 12th

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Re: Market Talk / May 6th - May 12th

tsptalk said:
Strange. A quick 30 point rally during the normally quiet hour before the Fed policy statement. Think some info was leaked? ;) :rolleyes:
Click to expand...

I always thought a "rally" meant UP, wheras a "dive" means down. Maybe I should stand on my head!? :confused:
 
Re: Market Talk / May 6th - May 12th

I will appreciate your advise. In addition to a wireless laptop or notebook, are there other wireless alternatives that might be effective in accessing the internet pages, especially the TSPtalk website, reading the message boards without much difficulty, and doing the IFTs? I am thinking of buying a blackberry or some other wireless hand held device, but I need to get the best possible information as to the best alternative in the marketplace. I hope you can be of help. Thanks in advance. :)
 
Re: Market Talk / May 6th - May 12th

... and then it looks like the traders took profits on the announcement (buy the rumor, sell the news), then another rally started. Hard to keep up with them.

dow050907.gif



USNAVYRETIRED said:
I always thought a "rally" meant UP, wheras a "dive" means down. Maybe I should stand on my head!? :confused:
Click to expand...
usnavy -
I was talking about the action 1.5 hours before your post. You got to be quick. :D
 
Re: Market Talk / May 6th - May 12th

Tom... OK, I see what you mean now. When I first saw your post, then looked at the chart, it was heading down. Actually, I was just giving you a hard time... That's allowed isn't it??

All that doesn't really matter, because it's all looking pretty good now. Just hope it holds for another hour.... GL to all!!!! :cheesy:
 
Re: Market Talk / May 6th - May 12th

The Kingdom of TSP
Daily Edition
May 09, 2007 Closing​

Yak, Le Charts, Doodles, Tea Leaves, 5-Tribes, and The Barn Yard.

Kingdom Yak:
Pro-Yak....................................Socks [SPX] remain bullish, trading above 13d, above 50d MA. And trading is within the B. Bands.

Con-Yak...................................Stochastics [SPX] is too close for a signal. The ocillator is above the critical value of 80 as being overbought.

Jester-Yak................................Tops and bottoms share something in common. They rarely arrive when They're suppose to.

Le Charts
SP050907.gif

Charts courtesy of www.stockcharts.com​

Doodles:
Stops.......................................Alert (-1%)....Trail (-2%)
.....SPX........1512.58 +4.86.........1497.............1482

Dollar........................................82.00 +0.06 for the day.

Lube (NYMEX) Closed at...............61.47 -0.40 for the day.
Oil Markers.................................<60= ok, 60-65= worry, >65= panic.

Tea Leaves:
Yakndoodles...............................Yellow!

5-Tribes
Tomorrow...................................Tribes holding 3 bears and 2 bulls.

The Barn Yard
Location.....................................100% G.
 
Re: Market Talk / May 6th - May 12th

Bank of England raises interest rates to 5.5pc
By Rosie Murray-West, Business Correspondent

Last Updated: 1:10pm BST 10/05/2007

Homeowners were dealt more mortgage pain today after the Bank of England raised interest rates to their highest point in six years, with fears of more rate rises to come.
The Bank’s Monetary Policy Committee (MPC) hiked its base rate from 5.25 per cent to 5.5 per cent, the fourth quarter-point rise since August.
The increase is likely to add an estimated £16 a month to the average mortgage bill for households with a typical £100,000 mortgage, which experts said could lead to a rise in home repossessions and insolvencies.
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The move had been widely expected after the Government’s official measure of inflation hit 3.1 per cent in March, forcing the Bank’s Governor to write an explanatory letter to the Chancellor for the first time.​
Mervyn King, Governor of the Bank of England, said he would use interest rates to control inflation, and many economists fear another rate rise will be necessary to bring inflation back onto target.
 
Re: Market Talk / May 6th - May 12th

AP
Retailers Post Weak April Sales
Thursday May 10, 8:25 am ET

By Anne D'Innocenzio, AP Business Writer Retailers Post Weak April Sales As Gas Prices, Housing Market Lead Consumers to Cut Back
NEW YORK (AP) -- Rising gasoline prices and the slumping housing market kept consumers out of stores last month, leaving many of the nation's merchants with disappointing sales results.

As retailers released their April sales figures Thursday, weak performers included Wal-Mart Stores Inc., J.C. Penney Co. and Federated Department Stores Inc. "Consumers are feeling pressured by higher gasoline prices and a sluggish housing market, particularly low and middle income consumers," said Ken Perkins, president of RetailMetrics LLC, a research company in Swampscott, Mass. Analysts had already expected last month to be weak after an early Easter motivated many consumers to do their holiday shopping in March, siphoning away part of April's business. But sales were much softer than expected, raising concerns that retailers will also see disappointing results in the months ahead. Perkins and other analysts say they will be closely watching how May fares since the month will provide a better indication of the health of the consumer.

http://biz.yahoo.com/ap/070510/retail_sales.html?.v=5
 
Re: Market Talk / May 6th - May 12th

AP
Trade Deficit Surged in March
Thursday May 10, 8:37 am ET
By Martin Crutsinger, AP Economics Writer Trade Deficit Rises More Than Expected Due to Surge in Oil Imports
WASHINGTON (AP) -- The trade deficit shot up in March to the highest level in six months, driven upward by a big jump in imported oil. The politically sensitive deficit with China shrank as U.S. exports to that country hit an all-time high.

http://biz.yahoo.com/ap/070510/economy.html?.v=4
 
Re: Market Talk / May 6th - May 12th

[BRIEFING.COM] S&P futures vs fair value: -6.3. Nasdaq futures vs fair value: -8.5. Futures trade has held relatively steady following mixed economic data, but still suggests stocks will open on a downbeat note. Initial claims unexpectedly fell 9K to 297K (consensus 315K), the lowest level since mid-January and reflective of healthy labor conditions. However, the Trade Deficit widened a larger than expected $63.9 bln (consensus $60.0 bln), the largest since last September, while import prices surging a larger than expected 1.3% in April stirs inflation concerns.
 
Re: Market Talk / May 6th - May 12th

9:00 am [BRIEFING.COM] S&P futures vs fair value: -5.2. Nasdaq futures vs fair value: -6.8. The S&P 500 and Nasdaq 100 futures are off their recent lows but still trade well below fair value, still signaling a dismal start for the equity market. Aside from the disappointing monthly sales figures from a plethora of retailers, a number of earnings shortfalls (e.g. WFMI, SLE, and DISH), a Q2 warning from Hershey Foods (HSY), and a 1.0% rebound in oil prices are also giving investors little incentive to build on yesterday's broad-based gains.
 
Re: Market Talk / May 6th - May 12th

Very interesting action today. The early estimate of the retail numbers has spooked the market. Also, with the actual retail and PPI numbers coming out tomorrow followed by the CPI the market may take a breath.

CNBC is talking up the "China Bubble" all morning which may spur a sell off. They also interviewed one of their "respected traders" prior to the open and he was "concerned" that the market "has climbed to fast" and thinks this could be the "possible top". Mark did not like that comment at all and was visibly squirming.
 
Re: Market Talk / May 6th - May 12th

Lots of support for the S&P just above 1500. Two trendlines meeting together. So far it has bounced off of it. If it breaks below it could be the start of a sell-off but it is pretty strong support so we could see the dip buyers continue at that level for a while.
 
Re: Market Talk / May 6th - May 12th

Well, that support was cut through like a warm knife through butter.
 
Re: Market Talk / May 6th - May 12th

I'm home today and had my tsp account page open, my show-me account page open, and my Scottrade streaming ticker open. When I saw the dip I closed everything and warmed up a piece of fried chicken for lunch.
 
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